QUBUS: 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.
QUBUS
Largest movements
- Cash -€951,896
down €951,896 (-88.5%), from €1.1m to €123,224
mainly Other debts (-€975,000) and Trade debts (-€833,342)
- Current investments -€750,000
no longer reported in 2025 (was €750,000)
- Receivables within one year -€732,282
down €732,282 (-23.6%), from €3.1m to €2.4m
of which Other amounts receivable: -€461,334
- Other debts -€975,000
down €975,000 (-54.2%), from €1.8m to €825,000
- Trade debts -€833,342
down €833,342 (-48.3%), from €1.7m to €892,924
- Reserves -€401,504
down €401,504 (-41.8%), from €959,392 to €557,888
of which Distributable reserves: -€401,504
- Tax, wage and social debts -€152,308
down €152,308 (-36.0%), from €423,313 to €271,005
of which Taxes: -€103,451
- Accrued charges and deferred income -€53,069
down €53,069 (-38.7%), from €137,126 to €84,057
- Gross operating margin -€534,756
down €534,756 (-16.0%), from €3.4m to €2.8m
- Staff costs -€133,075
down €133,075 (-5.6%), from €2.4m to €2.2m
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 | €5,202,103 | €2,784,291 | -€2.4m | -46.5% |
| Fixed assets | 21/28 | €187,502 | €178,069 | -€9,433 | -5.0% |
| Intangible fixed assets | 21 | €19,970 | €12,282 | -€7,688 | -38.5% |
| Tangible fixed assets | 22/27 | €110,992 | €109,247 | -€1,745 | -1.6% |
| Plant, machinery and equipment | 23 | €31,397 | €25,477 | -€5,920 | -18.9% |
| Furniture and vehicles | 24 | €37,450 | €15,319 | -€22,131 | -59.1% |
| Other tangible fixed assets | 26 | €42,145 | €68,451 | +€26,306 | +62.4% |
| Financial fixed assets | 28 | €56,540 | €56,540 | = | 0.0% |
| Current assets | 29/58 | €5,014,601 | €2,606,222 | -€2.4m | -48.0% |
| Stocks and contracts in progress | 3 | €48,256 | €41,447 | -€6,809 | -14.1% |
| Stocks | 30/36 | €48,256 | €41,447 | -€6,809 | -14.1% |
| Amounts receivable within one year | 40/41 | €3,108,711 | €2,376,429 | -€732,282 | -23.6% |
| Trade receivables | 40 | €1,449,157 | €1,178,209 | -€270,948 | -18.7% |
| Other amounts receivable | 41 | €1,659,554 | €1,198,220 | -€461,334 | -27.8% |
| Current investments | 50/53 | €750,000 | - | -€750,000 | |
| Cash at bank and in hand | 54/58 | €1,075,120 | €123,224 | -€951,896 | -88.5% |
| Deferred charges and accrued income | 490/1 | €32,514 | €65,122 | +€32,608 | +100% |
| Total equity and liabilities | 10/49 | €5,202,103 | €2,784,291 | -€2.4m | -46.5% |
| Equity | 10/15 | €1,115,398 | €711,305 | -€404,093 | -36.2% |
| Contributions | 10/11 | €115,506 | €115,506 | = | 0.0% |
| Capital | 10 | €115,506 | €115,506 | = | 0.0% |
| Issued capital | 100 | €115,506 | €115,506 | = | 0.0% |
| Reserves | 13 | €959,392 | €557,888 | -€401,504 | -41.8% |
| Non-distributable reserves | 130/1 | €24,254 | €24,254 | = | 0.0% |
| Legal reserve | 130 | €24,254 | €24,254 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,291 | €16,291 | = | 0.0% |
| Distributable reserves | 133 | €918,847 | €517,343 | -€401,504 | -43.7% |
| Investment grants | 15 | €40,500 | €37,911 | -€2,589 | -6.4% |
| Amounts payable | 17/49 | €4,086,705 | €2,072,986 | -€2.0m | -49.3% |
| Amounts payable within one year | 42/48 | €3,949,579 | €1,988,929 | -€2.0m | -49.6% |
| Trade debts | 44 | €1,726,266 | €892,924 | -€833,342 | -48.3% |
| Suppliers | 440/4 | €1,726,266 | €892,924 | -€833,342 | -48.3% |
| Taxes, remuneration and social security | 45 | €423,313 | €271,005 | -€152,308 | -36.0% |
| Taxes | 450/3 | €121,515 | €18,064 | -€103,451 | -85.1% |
| Remuneration and social security | 454/9 | €301,798 | €252,941 | -€48,857 | -16.2% |
| Other amounts payable | 47/48 | €1,800,000 | €825,000 | -€975,000 | -54.2% |
| Accrued charges and deferred income | 492/3 | €137,126 | €84,057 | -€53,069 | -38.7% |
| Non-recurring operating income | 76A | €6,000 | €2,577 | -€3,423 | -57.1% |
| Remuneration, social security and pensions | 62 | €2,381,278 | €2,248,203 | -€133,075 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,107 | €80,634 | -€26,473 | -24.7% |
| Other operating charges | 640/8 | €7,797 | €22,657 | +€14,860 | +191% |
| Gross operating margin | 9900 | €3,351,290 | €2,816,534 | -€534,756 | -16.0% |
| Operating profit (loss) | 9901 | €855,108 | €465,040 | -€390,068 | -45.6% |
| Financial income | 75/76B | €59,546 | €53,926 | -€5,620 | -9.4% |
| Recurring financial income | 75 | €59,546 | €53,926 | -€5,620 | -9.4% |
| Financial charges | 65/66B | €8,644 | €6,039 | -€2,605 | -30.1% |
| Recurring financial charges | 65 | €8,644 | €6,039 | -€2,605 | -30.1% |
| Profit (loss) for the period before taxes | 9903 | €906,010 | €512,927 | -€393,083 | -43.4% |
| Income taxes | 67/77 | €121,187 | €89,431 | -€31,756 | -26.2% |
| Profit (loss) for the period | 9904 | €784,823 | €423,496 | -€361,327 | -46.0% |
| Profit (loss) for the period to be appropriated | 9905 | €784,823 | €423,496 | -€361,327 | -46.0% |
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 16 October 2026 via checked.be.