QUBE: 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.
QUBE
Largest movements
- Cash -€13,254
down €13,254 (-51.1%), from €25,924 to €12,670
mainly Investment in fixed assets (net) (-€15,753) and Receivables within one year (-€8,916)
- Tangible fixed assets +€10,769
up €10,769 (+70.7%), from €15,228 to €25,997
- Receivables within one year +€8,916
up €8,916 (+34.8%), from €25,606 to €34,521
of which Other amounts receivable: +€6,951
- Deferred charges and accrued income -€4,360
down €4,360 (-96.3%), from €4,528 to €168
- Stocks and contracts +€1,636
up €1,636 (+16.6%), from €9,830 to €11,466
- Tax, wage and social debts +€6,935
up €6,935 (+117%), from €5,945 to €12,880
of which Taxes: +€4,978
- Trade debts -€6,385
down €6,385 (-66.0%), from €9,673 to €3,288
- Debts after one year +€5,461
up €5,461 (+19.0%), from €28,778 to €34,239
- Profit (loss) carried forward -€5,398
down €5,398 (-20.8%), from €25,907 to €20,510
- Advances received +€2,558
up €2,558 (+163%), from €1,570 to €4,128
- Staff costs +€17,424
up €17,424 (+3,136%), from €556 to €17,979
- Gross operating margin +€9,135
up €9,135 (+85.0%), from €10,747 to €19,881
- Other operating charges -€5,164
down €5,164 (-79.7%), from €6,479 to €1,315
- Depreciation +€4,657
up €4,657 (+1,427%), from €326 to €4,983
- Taxes -€2,534
down €2,534 (-90.9%), from €2,789 to €255
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,116 | €84,823 | +€3,707 | +4.6% |
| Fixed assets | 21/28 | €15,228 | €25,997 | +€10,769 | +70.7% |
| Tangible fixed assets | 22/27 | €15,228 | €25,997 | +€10,769 | +70.7% |
| Plant, machinery and equipment | 23 | €15,228 | €25,997 | +€10,769 | +70.7% |
| Current assets | 29/58 | €65,888 | €58,826 | -€7,062 | -10.7% |
| Stocks and contracts in progress | 3 | €9,830 | €11,466 | +€1,636 | +16.6% |
| Stocks | 30/36 | €9,830 | €11,466 | +€1,636 | +16.6% |
| Amounts receivable within one year | 40/41 | €25,606 | €34,521 | +€8,916 | +34.8% |
| Trade receivables | 40 | - | €1,965 | +€1,965 | |
| Other amounts receivable | 41 | €25,606 | €32,557 | +€6,951 | +27.1% |
| Cash at bank and in hand | 54/58 | €25,924 | €12,670 | -€13,254 | -51.1% |
| Deferred charges and accrued income | 490/1 | €4,528 | €168 | -€4,360 | -96.3% |
| Total equity and liabilities | 10/49 | €81,116 | €84,823 | +€3,707 | +4.6% |
| Equity | 10/15 | €26,907 | €21,510 | -€5,398 | -20.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,907 | €20,510 | -€5,398 | -20.8% |
| Amounts payable | 17/49 | €54,208 | €63,313 | +€9,105 | +16.8% |
| Amounts payable after more than one year | 17 | €28,778 | €34,239 | +€5,461 | +19.0% |
| Financial debts | 170/4 | €28,778 | €34,239 | +€5,461 | +19.0% |
| Amounts payable within one year | 42/48 | €25,431 | €28,744 | +€3,314 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €8,243 | €8,448 | +€205 | +2.5% |
| Trade debts | 44 | €9,673 | €3,288 | -€6,385 | -66.0% |
| Suppliers | 440/4 | €9,673 | €3,288 | -€6,385 | -66.0% |
| Advances received on contracts in progress | 46 | €1,570 | €4,128 | +€2,558 | +163% |
| Taxes, remuneration and social security | 45 | €5,945 | €12,880 | +€6,935 | +117% |
| Taxes | 450/3 | €5,451 | €10,428 | +€4,978 | +91.3% |
| Remuneration and social security | 454/9 | €494 | €2,452 | +€1,958 | +396% |
| Accrued charges and deferred income | 492/3 | - | €330 | +€330 | |
| Remuneration, social security and pensions | 62 | €556 | €17,979 | +€17,424 | +3,136% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326 | €4,983 | +€4,657 | +1,427% |
| Other operating charges | 640/8 | €6,479 | €1,315 | -€5,164 | -79.7% |
| Gross operating margin | 9900 | €10,747 | €19,881 | +€9,135 | +85.0% |
| Operating profit (loss) | 9901 | €3,386 | -€4,396 | -€7,782 | |
| Financial income | 75/76B | €1,389 | €1,495 | +€105 | +7.6% |
| Recurring financial income | 75 | €1,389 | €1,495 | +€105 | +7.6% |
| Financial charges | 65/66B | €1,509 | €2,241 | +€732 | +48.5% |
| Recurring financial charges | 65 | €1,509 | €2,241 | +€732 | +48.5% |
| Profit (loss) for the period before taxes | 9903 | €3,266 | -€5,143 | -€8,408 | |
| Income taxes | 67/77 | €2,789 | €255 | -€2,534 | -90.9% |
| Profit (loss) for the period | 9904 | €477 | -€5,398 | -€5,874 | |
| Profit (loss) for the period to be appropriated | 9905 | €477 | -€5,398 | -€5,874 |
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.