RINA RUBEL: 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.
RINA RUBEL
Largest movements
- Stocks and contracts +€10,840
up €10,840 (+29.3%), from €36,979 to €47,819
- Receivables within one year -€2,720
down €2,720 (-45.1%), from €6,029 to €3,308
of which Trade receivables: -€1,800
- Cash -€651
down €651 (-13.7%), from €4,740 to €4,089
mainly Stocks and contracts (-€10,840) and Net result for the year (-€6,188)
- Other debts +€16,265
up €16,265 (+32.1%), from €50,731 to €66,996
- Profit (loss) carried forward -€6,188
down €6,188 (-23.9%), from -€25,914 to -€32,102
- Trade debts -€2,453
down €2,453 (-55.3%), from €4,436 to €1,983
- Gross operating margin -€3,981
down €3,981, from €2,862 to -€1,120
- Depreciation -€42
down €42 (-15.8%), from €262 to €220
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 | €52,168 | €59,417 | +€7,248 | +13.9% |
| Fixed assets | 21/28 | €4,420 | €4,200 | -€220 | -5.0% |
| Tangible fixed assets | 22/27 | €220 | - | -€220 | |
| Plant, machinery and equipment | 23 | €220 | - | -€220 | |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €47,748 | €55,217 | +€7,469 | +15.6% |
| Stocks and contracts in progress | 3 | €36,979 | €47,819 | +€10,840 | +29.3% |
| Stocks | 30/36 | €36,979 | €47,819 | +€10,840 | +29.3% |
| Amounts receivable within one year | 40/41 | €6,029 | €3,308 | -€2,720 | -45.1% |
| Trade receivables | 40 | €5,109 | €3,308 | -€1,800 | -35.2% |
| Other amounts receivable | 41 | €920 | - | -€920 | |
| Cash at bank and in hand | 54/58 | €4,740 | €4,089 | -€651 | -13.7% |
| Total equity and liabilities | 10/49 | €52,168 | €59,417 | +€7,248 | +13.9% |
| Equity | 10/15 | -€7,314 | -€13,502 | -€6,188 | -84.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,914 | -€32,102 | -€6,188 | -23.9% |
| Amounts payable | 17/49 | €59,482 | €72,918 | +€13,436 | +22.6% |
| Amounts payable within one year | 42/48 | €59,082 | €72,518 | +€13,436 | +22.7% |
| Trade debts | 44 | €4,436 | €1,983 | -€2,453 | -55.3% |
| Suppliers | 440/4 | €4,436 | €1,983 | -€2,453 | -55.3% |
| Taxes, remuneration and social security | 45 | €3,915 | €3,539 | -€376 | -9.6% |
| Taxes | 450/3 | €3,915 | €3,539 | -€376 | -9.6% |
| Other amounts payable | 47/48 | €50,731 | €66,996 | +€16,265 | +32.1% |
| Accrued charges and deferred income | 492/3 | €400 | €400 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €262 | €220 | -€42 | -15.8% |
| Other operating charges | 640/8 | €4,670 | €4,691 | +€21 | +0.5% |
| Gross operating margin | 9900 | €2,862 | -€1,120 | -€3,981 | |
| Operating profit (loss) | 9901 | -€2,070 | -€6,031 | -€3,961 | -191% |
| Financial income | 75/76B | €50 | €30 | -€21 | -41.0% |
| Recurring financial income | 75 | €50 | €30 | -€21 | -41.0% |
| Non-recurring financial income | 76B | €50 | €30 | -€21 | -41.0% |
| Financial charges | 65/66B | €168 | €175 | +€7 | +4.3% |
| Recurring financial charges | 65 | €168 | €175 | +€7 | +4.3% |
| Non-recurring financial charges | 66B | €168 | €175 | +€7 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,187 | -€6,176 | -€3,989 | -182% |
| Income taxes | 67/77 | €15 | €12 | -€4 | -23.4% |
| Profit (loss) for the period | 9904 | -€2,202 | -€6,188 | -€3,985 | -181% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,202 | -€6,188 | -€3,985 | -181% |
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.