R-CUBE: 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.
R-CUBE
Largest movements
- Tangible fixed assets +€267,835
up €267,835 (+1025.2%), from €26,126 to €293,962
of which Assets under construction and advance payments: +€262,833
- Cash -€153,615
down €153,615 (-66.9%), from €229,629 to €76,014
mainly Investment in fixed assets (net) (-€285,931) and Trade debts (-€12,596)
- Financial fixed assets +€16,893
up €16,893 (+102.4%), from €16,497 to €33,390
- Receivables within one year +€6,601
up €6,601 (+34.4%), from €19,202 to €25,803
of which Trade receivables: +€6,145
- Debts after one year +€93,062
new in 2025: €93,062
- Reserves +€20,000
up €20,000 (+29.2%), from €68,500 to €88,500
of which Tax-exempt reserves: +€20,000
- Profit (loss) carried forward +€18,468
up €18,468 (+13.4%), from €137,800 to €156,269
- Tax, wage and social debts +€13,667
up €13,667 (+60.4%), from €22,631 to €36,298
of which Taxes: +€10,645
- Trade debts -€12,596
down €12,596 (-68.0%), from €18,533 to €5,937
- Staff costs +€11,466
new in 2025: €11,466
- Gross operating margin +€7,216
up €7,216 (+11.4%), from €63,556 to €70,772
- Taxes +€2,060
up €2,060 (+13.1%), from €15,725 to €17,785
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 | €292,655 | €434,652 | +€141,997 | +48.5% |
| Fixed assets | 21/28 | €42,623 | €327,352 | +€284,728 | +668.0% |
| Tangible fixed assets | 22/27 | €26,126 | €293,962 | +€267,835 | +1025.2% |
| Plant, machinery and equipment | 23 | - | €2,576 | +€2,576 | |
| Furniture and vehicles | 24 | €0 | €2,871 | +€2,871 | |
| Other tangible fixed assets | 26 | €823 | €379 | -€444 | -54.0% |
| Assets under construction and advance payments | 27 | €25,303 | €288,136 | +€262,833 | +1038.7% |
| Financial fixed assets | 28 | €16,497 | €33,390 | +€16,893 | +102.4% |
| Current assets | 29/58 | €250,032 | €107,300 | -€142,731 | -57.1% |
| Amounts receivable within one year | 40/41 | €19,202 | €25,803 | +€6,601 | +34.4% |
| Trade receivables | 40 | €18,832 | €24,977 | +€6,145 | +32.6% |
| Other amounts receivable | 41 | €370 | €826 | +€456 | +123.0% |
| Cash at bank and in hand | 54/58 | €229,629 | €76,014 | -€153,615 | -66.9% |
| Deferred charges and accrued income | 490/1 | €1,201 | €5,484 | +€4,283 | +356.7% |
| Total equity and liabilities | 10/49 | €292,655 | €434,652 | +€141,997 | +48.5% |
| Equity | 10/15 | €241,300 | €279,769 | +€38,468 | +15.9% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €68,500 | €88,500 | +€20,000 | +29.2% |
| Non-distributable reserves | 130/1 | €3,500 | €3,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,500 | €3,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €65,000 | €85,000 | +€20,000 | +30.8% |
| Profit (loss) carried forward | 14 | €137,800 | €156,269 | +€18,468 | +13.4% |
| Amounts payable | 17/49 | €51,355 | €154,883 | +€103,528 | +201.6% |
| Amounts payable after more than one year | 17 | - | €93,062 | +€93,062 | |
| Financial debts | 170/4 | - | €93,062 | +€93,062 | |
| Amounts payable within one year | 42/48 | €51,072 | €60,256 | +€9,184 | +18.0% |
| Current portion of amounts payable after more than one year | 42 | - | €11,905 | +€11,905 | |
| Trade debts | 44 | €18,533 | €5,937 | -€12,596 | -68.0% |
| Suppliers | 440/4 | €18,533 | €5,937 | -€12,596 | -68.0% |
| Taxes, remuneration and social security | 45 | €22,631 | €36,298 | +€13,667 | +60.4% |
| Taxes | 450/3 | €18,750 | €29,395 | +€10,645 | +56.8% |
| Remuneration and social security | 454/9 | €3,882 | €6,903 | +€3,021 | +77.8% |
| Other amounts payable | 47/48 | €9,908 | €6,116 | -€3,792 | -38.3% |
| Accrued charges and deferred income | 492/3 | €283 | €1,565 | +€1,282 | +453.7% |
| Remuneration, social security and pensions | 62 | - | €11,466 | +€11,466 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €705 | €1,203 | +€498 | +70.6% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €63,556 | €70,772 | +€7,216 | +11.4% |
| Operating profit (loss) | 9901 | €62,464 | €57,704 | -€4,760 | -7.6% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €1,016 | €1,456 | +€439 | +43.2% |
| Recurring financial charges | 65 | €1,016 | €1,456 | +€439 | +43.2% |
| Profit (loss) for the period before taxes | 9903 | €61,447 | €56,253 | -€5,194 | -8.5% |
| Income taxes | 67/77 | €15,725 | €17,785 | +€2,060 | +13.1% |
| Profit (loss) for the period | 9904 | €45,723 | €38,468 | -€7,254 | -15.9% |
| Profit (loss) for the period to be appropriated | 9905 | €45,723 | €38,468 | -€7,254 | -15.9% |
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 11 October 2026 via checked.be.