QUBIC: 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.
QUBIC
Largest movements
- Tangible fixed assets -€28,144
down €28,144 (-2.5%), from €1.1m to €1.1m
of which Land and buildings: -€28,807
- Cash +€19,505
up €19,505 (+37.3%), from €52,256 to €71,761
mainly Depreciation (+€34,512) and Net result for the year (+€16,908)
- Debts after one year -€35,511
down €35,511 (-5.1%), from €692,488 to €656,977
- Other debts +€16,587
up €16,587 (+3201.0%), from €518 to €17,105
- Gross operating margin -€28,272
down €28,272 (-25.0%), from €112,957 to €84,685
- Staff costs -€6,651
down €6,651 (-87.8%), from €7,571 to €920
- Taxes +€3,476
up €3,476 (+59.9%), from €5,803 to €9,278
- Financial charges -€2,931
down €2,931 (-13.1%), from €22,344 to €19,413
- Other operating charges +€1,573
up €1,573 (+71.5%), from €2,200 to €3,773
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,236,273 | €1,233,382 | -€2,891 | -0.2% |
| Fixed assets | 21/28 | €1,121,220 | €1,092,026 | -€29,194 | -2.6% |
| Intangible fixed assets | 21 | €3,850 | €2,800 | -€1,050 | -27.3% |
| Tangible fixed assets | 22/27 | €1,117,370 | €1,089,226 | -€28,144 | -2.5% |
| Land and buildings | 22 | €1,114,000 | €1,085,193 | -€28,807 | -2.6% |
| Plant, machinery and equipment | 23 | €496 | €2,173 | +€1,677 | +338.2% |
| Furniture and vehicles | 24 | €2,874 | €1,860 | -€1,014 | -35.3% |
| Current assets | 29/58 | €115,053 | €141,356 | +€26,302 | +22.9% |
| Amounts receivable within one year | 40/41 | €55,524 | €61,444 | +€5,920 | +10.7% |
| Trade receivables | 40 | €43,863 | €19,192 | -€24,670 | -56.2% |
| Other amounts receivable | 41 | €11,662 | €42,252 | +€30,590 | +262.3% |
| Cash at bank and in hand | 54/58 | €52,256 | €71,761 | +€19,505 | +37.3% |
| Deferred charges and accrued income | 490/1 | €7,273 | €8,151 | +€878 | +12.1% |
| Total equity and liabilities | 10/49 | €1,236,273 | €1,233,382 | -€2,891 | -0.2% |
| Equity | 10/15 | €454,223 | €454,193 | -€30 | 0.0% |
| Contributions | 10/11 | €38,600 | €38,600 | = | 0.0% |
| Reserves | 13 | €415,623 | €415,593 | -€30 | 0.0% |
| Distributable reserves | 133 | €415,623 | €415,593 | -€30 | 0.0% |
| Amounts payable | 17/49 | €782,050 | €779,189 | -€2,862 | -0.4% |
| Amounts payable after more than one year | 17 | €692,488 | €656,977 | -€35,511 | -5.1% |
| Financial debts | 170/4 | €692,488 | €656,977 | -€35,511 | -5.1% |
| Amounts payable within one year | 42/48 | €89,179 | €116,196 | +€27,018 | +30.3% |
| Current portion of amounts payable after more than one year | 42 | €35,499 | €35,511 | +€12 | 0.0% |
| Trade debts | 44 | €45,863 | €47,704 | +€1,841 | +4.0% |
| Suppliers | 440/4 | €45,863 | €47,704 | +€1,841 | +4.0% |
| Advances received on contracts in progress | 46 | €0 | - | -€0 | |
| Taxes, remuneration and social security | 45 | €7,298 | €15,876 | +€8,578 | +117.5% |
| Taxes | 450/3 | €7,298 | €15,876 | +€8,578 | +117.5% |
| Other amounts payable | 47/48 | €518 | €17,105 | +€16,587 | +3201.0% |
| Accrued charges and deferred income | 492/3 | €384 | €6,015 | +€5,631 | +1466.5% |
| Non-recurring operating income | 76A | €12,257 | - | -€12,257 | |
| Remuneration, social security and pensions | 62 | €7,571 | €920 | -€6,651 | -87.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,389 | €34,512 | +€123 | +0.4% |
| Other operating charges | 640/8 | €2,200 | €3,773 | +€1,573 | +71.5% |
| Gross operating margin | 9900 | €112,957 | €84,685 | -€28,272 | -25.0% |
| Operating profit (loss) | 9901 | €68,796 | €45,479 | -€23,317 | -33.9% |
| Financial income | 75/76B | €0 | €120 | +€120 | +1201400.0% |
| Recurring financial income | 75 | €0 | €120 | +€120 | +1201400.0% |
| Financial charges | 65/66B | €22,344 | €19,413 | -€2,931 | -13.1% |
| Recurring financial charges | 65 | €22,344 | €19,413 | -€2,931 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €46,453 | €26,186 | -€20,266 | -43.6% |
| Income taxes | 67/77 | €5,803 | €9,278 | +€3,476 | +59.9% |
| Profit (loss) for the period | 9904 | €40,650 | €16,908 | -€23,742 | -58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €40,650 | €16,908 | -€23,742 | -58.4% |
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 12 October 2026 via checked.be.