Thomas Kubski: what changed
Two fiscal 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.
Thomas Kubski
Largest movements
- Receivables after one year +€90,000
new in 2025: €90,000
- Cash -€53,334
down €53,334 (-71.5%), from €74,548 to €21,214
mainly Receivables after one year (-€90,000) and Deferred charges and accrued income (-€1,113)
- Receivables within one year -€2,729
down €2,729 (-18.7%), from €14,616 to €11,888
of which Trade receivables: -€2,981
- Tangible fixed assets -€1,967
down €1,967 (-39.2%), from €5,020 to €3,053
- Profit (loss) carried forward +€31,113
up €31,113 (+52.7%), from €59,072 to €90,185
- Tax, wage and social debts +€1,429
up €1,429 (+8.0%), from €17,919 to €19,348
- Gross operating margin +€3,269
up €3,269 (+7.9%), from €41,539 to €44,808
- Taxes +€549
up €549 (+5.8%), from €9,526 to €10,075
- Financial income +€481
up €481 (+7258.5%), from €7 to €488
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 | €94,673 | €127,757 | +€33,084 | +34.9% |
| Fixed assets | 21/28 | €5,072 | €3,105 | -€1,967 | -38.8% |
| Tangible fixed assets | 22/27 | €5,020 | €3,053 | -€1,967 | -39.2% |
| Furniture and vehicles | 24 | €5,020 | €3,053 | -€1,967 | -39.2% |
| Financial fixed assets | 28 | €52 | €52 | = | 0.0% |
| Current assets | 29/58 | €89,602 | €124,653 | +€35,051 | +39.1% |
| Amounts receivable after more than one year | 29 | - | €90,000 | +€90,000 | |
| Other amounts receivable | 291 | - | €90,000 | +€90,000 | |
| Amounts receivable within one year | 40/41 | €14,616 | €11,888 | -€2,729 | -18.7% |
| Trade receivables | 40 | €14,206 | €11,224 | -€2,981 | -21.0% |
| Other amounts receivable | 41 | €410 | €663 | +€253 | +61.6% |
| Cash at bank and in hand | 54/58 | €74,548 | €21,214 | -€53,334 | -71.5% |
| Deferred charges and accrued income | 490/1 | €438 | €1,551 | +€1,113 | +254.3% |
| Total equity and liabilities | 10/49 | €94,673 | €127,757 | +€33,084 | +34.9% |
| Equity | 10/15 | €74,072 | €105,185 | +€31,113 | +42.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,072 | €90,185 | +€31,113 | +52.7% |
| Amounts payable | 17/49 | €20,601 | €22,573 | +€1,971 | +9.6% |
| Amounts payable within one year | 42/48 | €20,601 | €22,573 | +€1,971 | +9.6% |
| Trade debts | 44 | €1,882 | €2,365 | +€483 | +25.7% |
| Suppliers | 440/4 | €1,882 | €2,365 | +€483 | +25.7% |
| Taxes, remuneration and social security | 45 | €17,919 | €19,348 | +€1,429 | +8.0% |
| Taxes | 450/3 | €17,919 | €19,348 | +€1,429 | +8.0% |
| Other amounts payable | 47/48 | €800 | €859 | +€59 | +7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,570 | €1,967 | +€397 | +25.3% |
| Other operating charges | 640/8 | - | €63 | +€63 | |
| Gross operating margin | 9900 | €41,539 | €44,808 | +€3,269 | +7.9% |
| Operating profit (loss) | 9901 | €39,969 | €42,778 | +€2,808 | +7.0% |
| Financial income | 75/76B | €7 | €488 | +€481 | +7258.5% |
| Recurring financial income | 75 | €7 | €488 | +€481 | +7258.5% |
| Financial charges | 65/66B | €1,202 | €1,219 | +€17 | +1.4% |
| Recurring financial charges | 65 | €1,202 | €1,219 | +€17 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €38,774 | €42,047 | +€3,273 | +8.4% |
| Income taxes | 67/77 | €9,526 | €10,075 | +€549 | +5.8% |
| Profit (loss) for the period | 9904 | €29,248 | €31,972 | +€2,724 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €29,248 | €31,972 | +€2,724 | +9.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.