QubeS.: 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.
QubeS.
Largest movements
- Cash +€150,892
up €150,892 (+20.0%), from €756,113 to €907,005
mainly Net result for the year (+€401,477) and Other debts (+€249,733)
- Current investments +€89,814
up €89,814 (+35.9%), from €250,000 to €339,814
- Deferred charges and accrued income -€23,831
down €23,831 (-46.8%), from €50,962 to €27,131
- Receivables within one year -€23,198
down €23,198 (-6.4%), from €361,265 to €338,066
of which Other amounts receivable: -€23,745
- Other debts +€249,733
up €249,733 (+145.0%), from €172,250 to €421,983
- Reserves -€75,780
down €75,780 (-9.0%), from €841,948 to €766,168
of which Tax-exempt reserves: -€75,780
- Tax, wage and social debts +€60,040
up €60,040 (+274.8%), from €21,850 to €81,890
of which Taxes: +€55,374
- Trade debts -€41,483
down €41,483 (-14.0%), from €295,798 to €254,315
- Gross operating margin -€81,708
down €81,708 (-11.5%), from €709,231 to €627,524
- Staff costs +€46,806
up €46,806 (+45.1%), from €103,839 to €150,645
- Taxes -€29,459
down €29,459 (-24.2%), from €121,614 to €92,155
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.
Cash bridge derived
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 | €1,431,845 | €1,624,375 | +€192,530 | +13.4% |
| Fixed assets | 21/28 | €13,506 | €12,359 | -€1,147 | -8.5% |
| Tangible fixed assets | 22/27 | €4,863 | €3,716 | -€1,147 | -23.6% |
| Furniture and vehicles | 24 | €4,863 | €3,716 | -€1,147 | -23.6% |
| Financial fixed assets | 28 | €8,643 | €8,643 | = | 0.0% |
| Current assets | 29/58 | €1,418,339 | €1,612,016 | +€193,677 | +13.7% |
| Amounts receivable within one year | 40/41 | €361,265 | €338,066 | -€23,198 | -6.4% |
| Trade receivables | 40 | €221,719 | €222,265 | +€546 | +0.2% |
| Other amounts receivable | 41 | €139,546 | €115,802 | -€23,745 | -17.0% |
| Current investments | 50/53 | €250,000 | €339,814 | +€89,814 | +35.9% |
| Cash at bank and in hand | 54/58 | €756,113 | €907,005 | +€150,892 | +20.0% |
| Deferred charges and accrued income | 490/1 | €50,962 | €27,131 | -€23,831 | -46.8% |
| Total equity and liabilities | 10/49 | €1,431,845 | €1,624,375 | +€192,530 | +13.4% |
| Equity | 10/15 | €941,948 | €866,168 | -€75,780 | -8.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €841,948 | €766,168 | -€75,780 | -9.0% |
| Tax-exempt reserves | 132 | €370,480 | €294,700 | -€75,780 | -20.5% |
| Distributable reserves | 133 | €471,468 | €471,468 | = | 0.0% |
| Amounts payable | 17/49 | €489,897 | €758,208 | +€268,310 | +54.8% |
| Amounts payable within one year | 42/48 | €489,897 | €758,208 | +€268,310 | +54.8% |
| Financial debts | 43 | - | €20 | +€20 | |
| Credit institutions | 430/8 | - | €20 | +€20 | |
| Trade debts | 44 | €295,798 | €254,315 | -€41,483 | -14.0% |
| Suppliers | 440/4 | €295,798 | €254,315 | -€41,483 | -14.0% |
| Taxes, remuneration and social security | 45 | €21,850 | €81,890 | +€60,040 | +274.8% |
| Taxes | 450/3 | €367 | €55,741 | +€55,374 | +15087.1% |
| Remuneration and social security | 454/9 | €21,483 | €26,149 | +€4,666 | +21.7% |
| Other amounts payable | 47/48 | €172,250 | €421,983 | +€249,733 | +145.0% |
| Remuneration, social security and pensions | 62 | €103,839 | €150,645 | +€46,806 | +45.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,643 | €3,619 | -€5,023 | -58.1% |
| Other operating charges | 640/8 | - | €1,028 | +€1,028 | |
| Gross operating margin | 9900 | €709,231 | €627,524 | -€81,708 | -11.5% |
| Operating profit (loss) | 9901 | €596,750 | €472,231 | -€124,519 | -20.9% |
| Financial income | 75/76B | €17,798 | €22,828 | +€5,029 | +28.3% |
| Recurring financial income | 75 | €17,798 | €22,828 | +€5,029 | +28.3% |
| Financial charges | 65/66B | €243 | €1,427 | +€1,184 | +487.4% |
| Recurring financial charges | 65 | €243 | €1,427 | +€1,184 | +487.4% |
| Profit (loss) for the period before taxes | 9903 | €614,305 | €493,632 | -€120,673 | -19.6% |
| Income taxes | 67/77 | €121,614 | €92,155 | -€29,459 | -24.2% |
| Profit (loss) for the period | 9904 | €492,691 | €401,477 | -€91,214 | -18.5% |
| Transfer from tax-exempt reserves | 789 | - | €75,780 | +€75,780 | |
| Transfer to tax-exempt reserves | 689 | €147,350 | - | -€147,350 | |
| Profit (loss) for the period to be appropriated | 9905 | €345,341 | €477,257 | +€131,916 | +38.2% |
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 9 October 2026 via checked.be.