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
- Receivables within one year +€513,092
up €513,092 (+46.5%), from €1.1m to €1.6m
of which Other amounts receivable: +€492,922
- Cash -€274,056
down €274,056 (-39.5%), from €693,644 to €419,588
mainly Receivables within one year (-€513,092) and Other debts (-€271,500)
- Financial fixed assets +€60,000
up €60,000 (+2.4%), from €2.5m to €2.6m
- Reserves +€692,017
up €692,017 (+33.0%), from €2.1m to €2.8m
- Other debts -€271,500
down €271,500 (-15.8%), from €1.7m to €1.4m
- Debts after one year -€129,944
down €129,944 (-45.9%), from €283,018 to €153,074
- Trade debts +€50,795
up €50,795 (+4,425%), from €1,148 to €51,943
- Financial income +€650,000
new in 2025: €650,000
- Gross operating margin -€133,594
down €133,594 (-59.1%), from €226,226 to €92,632
- Taxes -€36,172
down €36,172 (-71.9%), from €50,339 to €14,166
- Depreciation +€3,942
new in 2025: €3,942
- Financial charges -€3,371
down €3,371 (-9.5%), from €35,308 to €31,937
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 | €4,321,019 | €4,649,899 | +€328,879 | +7.6% |
| Fixed assets | 21/28 | €2,525,000 | €2,614,843 | +€89,843 | +3.6% |
| Tangible fixed assets | 22/27 | - | €29,843 | +€29,843 | |
| Furniture and vehicles | 24 | - | €29,843 | +€29,843 | |
| Financial fixed assets | 28 | €2,525,000 | €2,585,000 | +€60,000 | +2.4% |
| Current assets | 29/58 | €1,796,019 | €2,035,055 | +€239,036 | +13.3% |
| Amounts receivable within one year | 40/41 | €1,102,375 | €1,615,468 | +€513,092 | +46.5% |
| Trade receivables | 40 | €35,816 | €55,987 | +€20,171 | +56.3% |
| Other amounts receivable | 41 | €1,066,559 | €1,559,481 | +€492,922 | +46.2% |
| Cash at bank and in hand | 54/58 | €693,644 | €419,588 | -€274,056 | -39.5% |
| Total equity and liabilities | 10/49 | €4,321,019 | €4,649,899 | +€328,879 | +7.6% |
| Equity | 10/15 | €2,170,384 | €2,862,401 | +€692,017 | +31.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €2,095,384 | €2,787,401 | +€692,017 | +33.0% |
| Distributable reserves | 133 | €2,095,384 | €2,787,401 | +€692,017 | +33.0% |
| Amounts payable | 17/49 | €2,150,635 | €1,787,498 | -€363,138 | -16.9% |
| Amounts payable after more than one year | 17 | €283,018 | €153,074 | -€129,944 | -45.9% |
| Financial debts | 170/4 | €283,018 | €153,074 | -€129,944 | -45.9% |
| Amounts payable within one year | 42/48 | €1,867,617 | €1,634,424 | -€233,194 | -12.5% |
| Current portion of amounts payable after more than one year | 42 | €128,790 | €129,944 | +€1,154 | +0.9% |
| Trade debts | 44 | €1,148 | €51,943 | +€50,795 | +4,425% |
| Suppliers | 440/4 | €1,148 | €51,943 | +€50,795 | +4,425% |
| Taxes, remuneration and social security | 45 | €20,339 | €6,697 | -€13,642 | -67.1% |
| Taxes | 450/3 | €20,339 | €6,697 | -€13,642 | -67.1% |
| Other amounts payable | 47/48 | €1,717,340 | €1,445,840 | -€271,500 | -15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €3,942 | +€3,942 | |
| Other operating charges | 640/8 | €118 | €569 | +€451 | +383% |
| Gross operating margin | 9900 | €226,226 | €92,632 | -€133,594 | -59.1% |
| Operating profit (loss) | 9901 | €226,108 | €88,121 | -€137,987 | -61.0% |
| Financial income | 75/76B | - | €650,000 | +€650,000 | |
| Recurring financial income | 75 | - | €650,000 | +€650,000 | |
| Financial charges | 65/66B | €35,308 | €31,937 | -€3,371 | -9.5% |
| Recurring financial charges | 65 | €35,308 | €31,937 | -€3,371 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €190,799 | €706,184 | +€515,384 | +270% |
| Income taxes | 67/77 | €50,339 | €14,166 | -€36,172 | -71.9% |
| Profit (loss) for the period | 9904 | €140,461 | €692,017 | +€551,557 | +393% |
| Profit (loss) for the period to be appropriated | 9905 | €140,461 | €692,017 | +€551,557 | +393% |
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 31 October 2026 via checked.be.