XCUBE-CONCEPT: 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.
XCUBE-CONCEPT
Largest movements
- Intangible fixed assets +€265,055
new in 2025: €265,055
- Cash -€166,659
down €166,659 (-73.8%), from €225,706 to €59,047
mainly Investment in fixed assets (net) (-€274,999) and Contributions, distributions and other (-€34,610)
- Tangible fixed assets -€7,393
down €7,393 (-56.9%), from €12,999 to €5,606
of which Furniture and vehicles: -€6,510
- Reserves +€86,150
up €86,150 (+47.9%), from €180,020 to €266,170
- Tax, wage and social debts +€25,846
up €25,846 (+189.4%), from €13,649 to €39,495
of which Taxes: +€25,822
- Contributions -€17,860
down €17,860 (-87.3%), from €20,460 to €2,600
- Trade debts -€10,113
down €10,113 (-63.0%), from €16,050 to €5,937
- Other debts +€6,845
up €6,845 (+55.5%), from €12,343 to €19,188
- Gross operating margin +€59,447
up €59,447 (+50.2%), from €118,475 to €177,922
- Taxes +€16,863
up €16,863 (+60.9%), from €27,684 to €44,547
- Depreciation +€4,166
up €4,166 (+31.6%), from €13,171 to €17,337
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 | €242,524 | €333,489 | +€90,965 | +37.5% |
| Fixed assets | 21/28 | €12,999 | €270,661 | +€257,662 | +1982.2% |
| Intangible fixed assets | 21 | - | €265,055 | +€265,055 | |
| Tangible fixed assets | 22/27 | €12,999 | €5,606 | -€7,393 | -56.9% |
| Furniture and vehicles | 24 | €6,963 | €453 | -€6,510 | -93.5% |
| Other tangible fixed assets | 26 | €6,036 | €5,153 | -€883 | -14.6% |
| Current assets | 29/58 | €229,525 | €62,828 | -€166,697 | -72.6% |
| Amounts receivable within one year | 40/41 | €3,482 | €3,556 | +€74 | +2.1% |
| Trade receivables | 40 | €847 | €2,704 | +€1,857 | +219.2% |
| Other amounts receivable | 41 | €2,635 | €852 | -€1,783 | -67.7% |
| Cash at bank and in hand | 54/58 | €225,706 | €59,047 | -€166,659 | -73.8% |
| Deferred charges and accrued income | 490/1 | €337 | €225 | -€112 | -33.1% |
| Total equity and liabilities | 10/49 | €242,524 | €333,489 | +€90,965 | +37.5% |
| Equity | 10/15 | €200,482 | €268,870 | +€68,388 | +34.1% |
| Contributions | 10/11 | €20,460 | €2,600 | -€17,860 | -87.3% |
| Reserves | 13 | €180,020 | €266,170 | +€86,150 | +47.9% |
| Distributable reserves | 133 | €180,020 | €266,170 | +€86,150 | +47.9% |
| Profit (loss) carried forward | 14 | €2 | €100 | +€98 | +4882.5% |
| Amounts payable | 17/49 | €42,042 | €64,620 | +€22,578 | +53.7% |
| Amounts payable within one year | 42/48 | €42,042 | €64,620 | +€22,578 | +53.7% |
| Trade debts | 44 | €16,050 | €5,937 | -€10,113 | -63.0% |
| Suppliers | 440/4 | €16,050 | €5,937 | -€10,113 | -63.0% |
| Taxes, remuneration and social security | 45 | €13,649 | €39,495 | +€25,846 | +189.4% |
| Taxes | 450/3 | €10,802 | €36,624 | +€25,822 | +239.0% |
| Remuneration and social security | 454/9 | €2,847 | €2,871 | +€24 | +0.8% |
| Other amounts payable | 47/48 | €12,343 | €19,188 | +€6,845 | +55.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,171 | €17,337 | +€4,166 | +31.6% |
| Other operating charges | 640/8 | €1,291 | €1,400 | +€109 | +8.4% |
| Gross operating margin | 9900 | €118,475 | €177,922 | +€59,447 | +50.2% |
| Operating profit (loss) | 9901 | €104,013 | €159,186 | +€55,173 | +53.0% |
| Financial income | 75/76B | €200 | €456 | +€256 | +127.8% |
| Recurring financial income | 75 | €200 | €456 | +€256 | +127.8% |
| Financial charges | 65/66B | €10,646 | €12,097 | +€1,451 | +13.6% |
| Recurring financial charges | 65 | €10,646 | €12,097 | +€1,451 | +13.6% |
| Profit (loss) for the period before taxes | 9903 | €93,567 | €147,545 | +€53,978 | +57.7% |
| Income taxes | 67/77 | €27,684 | €44,547 | +€16,863 | +60.9% |
| Profit (loss) for the period | 9904 | €65,883 | €102,997 | +€37,114 | +56.3% |
| Profit (loss) for the period to be appropriated | 9905 | €65,883 | €102,997 | +€37,114 | +56.3% |
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.