QUBICO: 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
QUBICO
NACE 46.140, Agents in the wholesale of industrial machinery, ships and aircraft
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€781,110
2024 · €221,931+€559,180
Equity
€5.3m
2024 · €4.5m+€781,110
Cash
€103,906
2024 · €617,172-€513,265
Balance sheet total
€25.4m
2024 · €15.7m+€9.6m
Largest movements
Assets
- Receivables within one year +€10.1m
up €10.1m (+67.0%), from €15.1m to €25.2m
of which Trade receivables: +€5.5m
- Cash -€513,265
down €513,265 (-83.2%), from €617,172 to €103,906
mainly Receivables within one year (-€10.1m) and Other debts (-€320,507)
Equity and liabilities
- Debts after one year +€3.3m
up €3.3m (+656%), from €500,000 to €3.8m
- Short-term financial debts +€3.2m
up €3.2m (+37.7%), from €8.4m to €11.5m
- Trade debts +€1.4m
up €1.4m (+73.1%), from €2.0m to €3.4m
- Current portion of long-term debt +€1.2m
new in 2025: €1.2m
- Reserves +€781,110
up €781,110 (+17.3%), from €4.5m to €5.3m
of which Distributable reserves: +€781,110
Income statement
- Goods and materials +€25.0m
up €25.0m (+53.9%), from €46.4m to €71.3m
- Turnover +€21.9m
up €21.9m (+43.9%), from €49.8m to €71.7m
- Financial income +€4.9m
up €4.9m (+1,249%), from €394,318 to €5.3m
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
€221,931
Turnover
+€21.9m
Other operating income
-€4,531
Goods and materials
-€25.0m
Services and other goods
-€624,483
Staff costs
+€24,195
Depreciation
-€3,134
Other operating charges
+€4,685
Other operating items
-€38,638
Financial income
+€4.9m
Financial charges
-€416,481
Taxes
-€193,708
Result 2025
€781,110
raises the resultlowers the resultnot broken down further in the accounts
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
-€8.1m
Investment
-€37,396
Financing
+€7.6m
Cash 2024
€617,172
From operations (derived)
-€8.1m
Net result for the year
+€781,110
Depreciation
+€7,142
Receivables within one year
-€10.1m
Smaller working-capital items
-€1,902
Trade debts
+€1.4m
Tax, wage and social debts
+€116,573
Other debts
-€320,507
Investment (derived)
-€37,396
Investment in fixed assets (net)
-€37,396
Financing
+€7.6m
Debts after one year
+€3.3m
Current portion of long-term debt
+€1.2m
Short-term financial debts
+€3.2m
Cash 2025
€103,906
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,732,138 | €25,361,259 | +€9.6m | +61.2% |
| Fixed assets | 21/28 | €18,891 | €49,146 | +€30,254 | +160% |
| Tangible fixed assets | 22/27 | €10,233 | €40,487 | +€30,254 | +296% |
| Furniture and vehicles | 24 | €5,855 | €36,242 | +€30,387 | +519% |
| Other tangible fixed assets | 26 | €4,378 | €4,245 | -€133 | -3.0% |
| Financial fixed assets | 28 | €8,659 | €8,659 | = | 0.0% |
| Other financial fixed assets | 284/8 | €8,659 | €8,659 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €8,659 | €8,659 | = | 0.0% |
| Current assets | 29/58 | €15,713,246 | €25,312,113 | +€9.6m | +61.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €15,094,628 | €25,207,848 | +€10.1m | +67.0% |
| Trade receivables | 40 | €14,920,113 | €20,455,589 | +€5.5m | +37.1% |
| Other amounts receivable | 41 | €174,515 | €4,752,260 | +€4.6m | +2,623% |
| Cash at bank and in hand | 54/58 | €617,172 | €103,906 | -€513,265 | -83.2% |
| Deferred charges and accrued income | 490/1 | €1,447 | €359 | -€1,088 | -75.2% |
| Total equity and liabilities | 10/49 | €15,732,138 | €25,361,259 | +€9.6m | +61.2% |
| Equity | 10/15 | €4,535,688 | €5,316,798 | +€781,110 | +17.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €4,517,088 | €5,298,198 | +€781,110 | +17.3% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €4,517,088 | €5,298,198 | +€781,110 | +17.3% |
| Amounts payable | 17/49 | €11,196,450 | €20,044,461 | +€8.8m | +79.0% |
| Amounts payable after more than one year | 17 | €500,000 | €3,779,255 | +€3.3m | +656% |
| Financial debts | 170/4 | €500,000 | €3,779,255 | +€3.3m | +656% |
| Subordinated loans | 170 | €500,000 | €500,000 | = | 0.0% |
| Credit institutions | 173 | - | €3,279,255 | +€3.3m | |
| Amounts payable within one year | 42/48 | €10,678,538 | €16,250,285 | +€5.6m | +52.2% |
| Current portion of amounts payable after more than one year | 42 | - | €1,192,456 | +€1.2m | |
| Financial debts | 43 | €8,363,136 | €11,513,783 | +€3.2m | +37.7% |
| Credit institutions | 430/8 | €8,363,136 | €11,513,783 | +€3.2m | +37.7% |
| Trade debts | 44 | €1,959,980 | €3,392,558 | +€1.4m | +73.1% |
| Suppliers | 440/4 | €1,959,980 | €3,392,558 | +€1.4m | +73.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €34,914 | €151,487 | +€116,573 | +334% |
| Taxes | 450/3 | €16,789 | €120,982 | +€104,194 | +621% |
| Remuneration and social security | 454/9 | €18,126 | €30,505 | +€12,379 | +68.3% |
| Other amounts payable | 47/48 | €320,507 | €0 | -€320,507 | -100% |
| Accrued charges and deferred income | 492/3 | €17,912 | €14,921 | -€2,990 | -16.7% |
| Operating income | 70/76A | €49,846,180 | €71,701,358 | +€21.9m | +43.8% |
| Turnover | 70 | €49,835,756 | €71,695,466 | +€21.9m | +43.9% |
| Other operating income | 74 | €10,424 | €5,893 | -€4,531 | -43.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €47,929,288 | €73,538,748 | +€25.6m | +53.4% |
| Goods for resale, raw materials and consumables | 60 | €46,367,936 | €71,340,021 | +€25.0m | +53.9% |
| Purchases | 600/8 | €46,367,936 | €71,340,021 | +€25.0m | +53.9% |
| Services and other goods | 61 | €1,338,144 | €1,962,627 | +€624,483 | +46.7% |
| Remuneration, social security and pensions | 62 | €211,549 | €187,354 | -€24,195 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,008 | €7,142 | +€3,134 | +78.2% |
| Other operating charges | 640/8 | €7,650 | €2,966 | -€4,685 | -61.2% |
| Non-recurring operating charges | 66A | €0 | €38,638 | +€38,638 | |
| Operating profit (loss) | 9901 | €1,916,893 | -€1,837,390 | -€3.8m | |
| Financial income | 75/76B | €394,318 | €5,317,970 | +€4.9m | +1,249% |
| Recurring financial income | 75 | €394,318 | €5,317,970 | +€4.9m | +1,249% |
| Income from current assets | 751 | €3,635 | €4,096 | +€461 | +12.7% |
| Other financial income | 752/9 | €390,683 | €5,313,874 | +€4.9m | +1,260% |
| Financial charges | 65/66B | €2,009,961 | €2,426,443 | +€416,481 | +20.7% |
| Recurring financial charges | 65 | €2,009,961 | €2,426,443 | +€416,481 | +20.7% |
| Debt charges | 650 | €914,184 | €979,038 | +€64,854 | +7.1% |
| Other financial charges | 652/9 | €1,095,778 | €1,447,405 | +€351,627 | +32.1% |
| Profit (loss) for the period before taxes | 9903 | €301,249 | €1,054,137 | +€752,888 | +250% |
| Income taxes | 67/77 | €79,319 | €273,027 | +€193,708 | +244% |
| Taxes | 670/3 | €79,319 | €273,027 | +€193,708 | +244% |
| Profit (loss) for the period | 9904 | €221,931 | €781,110 | +€559,180 | +252% |
| Profit (loss) for the period to be appropriated | 9905 | €221,931 | €781,110 | +€559,180 | +252% |
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 15 October 2026 via checked.be.