N-CUBE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
N-CUBE
NACE 82.990, Other business support services
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€298,737
2024 · -€142,895-€155,842
Equity
-€423,842
2024 · -€125,105-€298,737
Cash
€6,731
2024 · €3,112+€3,619
Balance sheet total
€4.6m
2024 · €4.8m-€178,924
Largest movements
Assets
- Tangible fixed assets -€150,928
down €150,928 (-3.2%), from €4.7m to €4.6m
of which Land and buildings: -€93,000
Equity and liabilities
- Profit (loss) carried forward -€298,737
down €298,737 (-90.7%), from -€329,373 to -€628,110
- Other debts +€145,788
up €145,788 (+52.1%), from €280,024 to €425,812
- Debts after one year -€77,429
down €77,429 (-1.7%), from €4.5m to €4.4m
of which Other amounts payable: -€49,800
- Short-term financial debts +€60,000
new in 2025: €60,000
Income statement
- Gross operating margin -€93,268
down €93,268 (-36.4%), from €256,524 to €163,256
- Financial charges +€78,153
up €78,153 (+71.1%), from €109,903 to €188,056
- Staff costs -€17,592
down €17,592 (-18.2%), from €96,914 to €79,322
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
-€142,895
Gross operating margin
-€93,268
Staff costs
+€17,592
Depreciation
-€922
Other operating charges
-€1,053
Financial income
-€38
Financial charges
-€78,153
Result 2025
-€298,737
raises the resultlowers the result
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€29,084
Investment
-€9,096
Financing
-€16,369
Cash 2024
€3,112
From operations (derived)
+€29,084
Net result for the year
-€298,737
Depreciation
+€160,023
Receivables within one year
+€30,998
Deferred charges and accrued income
+€618
Trade debts
+€4,960
Tax, wage and social debts
-€1,064
Other debts
+€145,788
Accrued charges and deferred income
-€13,501
Investment (derived)
-€9,096
Investment in fixed assets (net)
-€9,096
Financing
-€16,369
Debts after one year
-€77,429
Current portion of long-term debt
+€1,060
Short-term financial debts
+€60,000
Cash 2025
€6,731
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,754,451 | €4,575,527 | -€178,924 | -3.8% |
| Fixed assets | 21/28 | €4,717,254 | €4,566,327 | -€150,928 | -3.2% |
| Tangible fixed assets | 22/27 | €4,717,254 | €4,566,327 | -€150,928 | -3.2% |
| Land and buildings | 22 | €4,487,250 | €4,394,250 | -€93,000 | -2.1% |
| Plant, machinery and equipment | 23 | €93,743 | €67,640 | -€26,103 | -27.8% |
| Furniture and vehicles | 24 | €136,261 | €104,437 | -€31,824 | -23.4% |
| Current assets | 29/58 | €37,197 | €9,200 | -€27,997 | -75.3% |
| Amounts receivable within one year | 40/41 | €31,556 | €559 | -€30,998 | -98.2% |
| Trade receivables | 40 | €31,136 | €326 | -€30,810 | -99.0% |
| Other amounts receivable | 41 | €420 | €233 | -€187 | -44.6% |
| Cash at bank and in hand | 54/58 | €3,112 | €6,731 | +€3,619 | +116% |
| Deferred charges and accrued income | 490/1 | €2,528 | €1,910 | -€618 | -24.4% |
| Total equity and liabilities | 10/49 | €4,754,451 | €4,575,527 | -€178,924 | -3.8% |
| Equity | 10/15 | -€125,105 | -€423,842 | -€298,737 | -239% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | €44,268 | €44,268 | = | 0.0% |
| Distributable reserves | 133 | €44,268 | €44,268 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€329,373 | -€628,110 | -€298,737 | -90.7% |
| Amounts payable | 17/49 | €4,879,556 | €4,999,369 | +€119,813 | +2.5% |
| Amounts payable after more than one year | 17 | €4,479,810 | €4,402,381 | -€77,429 | -1.7% |
| Financial debts | 170/4 | €4,395,040 | €4,367,411 | -€27,629 | -0.6% |
| Other amounts payable | 178/9 | €84,770 | €34,970 | -€49,800 | -58.7% |
| Amounts payable within one year | 42/48 | €376,645 | €587,388 | +€210,743 | +56.0% |
| Current portion of amounts payable after more than one year | 42 | €68,056 | €69,116 | +€1,060 | +1.6% |
| Financial debts | 43 | - | €60,000 | +€60,000 | |
| Credit institutions | 430/8 | - | €60,000 | +€60,000 | |
| Trade debts | 44 | €9,526 | €14,486 | +€4,960 | +52.1% |
| Suppliers | 440/4 | €9,526 | €14,486 | +€4,960 | +52.1% |
| Taxes, remuneration and social security | 45 | €19,039 | €17,975 | -€1,064 | -5.6% |
| Taxes | 450/3 | €8,883 | €7,672 | -€1,212 | -13.6% |
| Remuneration and social security | 454/9 | €10,156 | €10,303 | +€148 | +1.5% |
| Other amounts payable | 47/48 | €280,024 | €425,812 | +€145,788 | +52.1% |
| Accrued charges and deferred income | 492/3 | €23,101 | €9,600 | -€13,501 | -58.4% |
| Remuneration, social security and pensions | 62 | €96,914 | €79,322 | -€17,592 | -18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159,101 | €160,023 | +€922 | +0.6% |
| Other operating charges | 640/8 | €33,542 | €34,595 | +€1,053 | +3.1% |
| Gross operating margin | 9900 | €256,524 | €163,256 | -€93,268 | -36.4% |
| Operating profit (loss) | 9901 | -€33,034 | -€110,684 | -€77,651 | -235% |
| Financial income | 75/76B | €42 | €3 | -€38 | -91.9% |
| Recurring financial income | 75 | €42 | €3 | -€38 | -91.9% |
| Financial charges | 65/66B | €109,903 | €188,056 | +€78,153 | +71.1% |
| Recurring financial charges | 65 | €109,903 | €188,056 | +€78,153 | +71.1% |
| Profit (loss) for the period before taxes | 9903 | -€142,895 | -€298,737 | -€155,842 | -109% |
| Profit (loss) for the period | 9904 | -€142,895 | -€298,737 | -€155,842 | -109% |
| Profit (loss) for the period to be appropriated | 9905 | -€142,895 | -€298,737 | -€155,842 | -109% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.