Rubaco Development: 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.
Rubaco Development
Largest movements
- Cash +€306,459
up €306,459 (+1821.2%), from €16,828 to €323,287
mainly Debts after one year (+€492,736) and Stocks and contracts (+€70,323)
- Deferred charges and accrued income +€303,127
new in 2024: €303,127
- Stocks and contracts -€70,323
down €70,323 (-4.8%), from €1.5m to €1.4m
- Receivables within one year +€41,714
up €41,714 (+56.2%), from €74,232 to €115,947
of which Other amounts receivable: +€32,070
- Debts after one year +€492,736
up €492,736 (+3418.4%), from €14,414 to €507,151
of which Other amounts payable: +€500,000
- Current portion of long-term debt +€60,084
up €60,084 (+827.2%), from €7,264 to €67,348
- Other debts +€57,027
up €57,027 (+49.7%), from €114,657 to €171,683
- Gross operating margin -€60,799
down €60,799 (-78.2%), from €77,781 to €16,982
- Taxes -€17,486
no longer reported in 2024 (was €17,486)
- Financial charges +€14,136
up €14,136 (+1134.5%), from €1,246 to €15,382
- Staff costs +€5,444
up €5,444 (+223.4%), from €2,436 to €7,880
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,597,481 | €2,171,939 | +€574,459 | +36.0% |
| Fixed assets | 21/28 | €27,561 | €21,042 | -€6,519 | -23.7% |
| Tangible fixed assets | 22/27 | €26,166 | €18,817 | -€7,349 | -28.1% |
| Furniture and vehicles | 24 | €2,560 | €1,854 | -€706 | -27.6% |
| Leasing and similar rights | 25 | €23,606 | €16,963 | -€6,643 | -28.1% |
| Financial fixed assets | 28 | €1,395 | €2,225 | +€830 | +59.5% |
| Current assets | 29/58 | €1,569,920 | €2,150,897 | +€580,977 | +37.0% |
| Stocks and contracts in progress | 3 | €1,478,860 | €1,408,537 | -€70,323 | -4.8% |
| Stocks | 30/36 | €1,478,860 | €1,408,537 | -€70,323 | -4.8% |
| Amounts receivable within one year | 40/41 | €74,232 | €115,947 | +€41,714 | +56.2% |
| Trade receivables | 40 | €62,063 | €71,708 | +€9,645 | +15.5% |
| Other amounts receivable | 41 | €12,169 | €44,239 | +€32,070 | +263.5% |
| Cash at bank and in hand | 54/58 | €16,828 | €323,287 | +€306,459 | +1821.2% |
| Deferred charges and accrued income | 490/1 | - | €303,127 | +€303,127 | |
| Total equity and liabilities | 10/49 | €1,597,481 | €2,171,939 | +€574,459 | +36.0% |
| Equity | 10/15 | €312,572 | €297,277 | -€15,294 | -4.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,892 | €1,892 | = | 0.0% |
| Distributable reserves | 133 | €1,892 | €1,892 | = | 0.0% |
| Profit (loss) carried forward | 14 | €292,087 | €276,793 | -€15,294 | -5.2% |
| Amounts payable | 17/49 | €1,284,909 | €1,874,662 | +€589,753 | +45.9% |
| Amounts payable after more than one year | 17 | €14,414 | €507,151 | +€492,736 | +3418.4% |
| Financial debts | 170/4 | €14,414 | €7,151 | -€7,264 | -50.4% |
| Other amounts payable | 178/9 | - | €500,000 | +€500,000 | |
| Amounts payable within one year | 42/48 | €1,270,495 | €1,367,511 | +€97,017 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €7,264 | €67,348 | +€60,084 | +827.2% |
| Financial debts | 43 | €952,104 | €934,010 | -€18,094 | -1.9% |
| Credit institutions | 430/8 | €952,104 | €934,010 | -€18,094 | -1.9% |
| Trade debts | 44 | €173,770 | €171,044 | -€2,727 | -1.6% |
| Suppliers | 440/4 | €173,770 | €171,044 | -€2,727 | -1.6% |
| Taxes, remuneration and social security | 45 | €22,700 | €23,426 | +€726 | +3.2% |
| Taxes | 450/3 | €22,337 | €19,582 | -€2,755 | -12.3% |
| Remuneration and social security | 454/9 | €363 | €3,844 | +€3,481 | +960.0% |
| Other amounts payable | 47/48 | €114,657 | €171,683 | +€57,027 | +49.7% |
| Remuneration, social security and pensions | 62 | €2,436 | €7,880 | +€5,444 | +223.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,349 | €7,349 | = | 0.0% |
| Other operating charges | 640/8 | €1,288 | €2,000 | +€713 | +55.3% |
| Gross operating margin | 9900 | €77,781 | €16,982 | -€60,799 | -78.2% |
| Operating profit (loss) | 9901 | €66,708 | -€247 | -€66,956 | |
| Financial income | 75/76B | €1 | €336 | +€335 | +54032.3% |
| Recurring financial income | 75 | €1 | €336 | +€335 | +54032.3% |
| Financial charges | 65/66B | €1,246 | €15,382 | +€14,136 | +1134.5% |
| Recurring financial charges | 65 | €1,246 | €15,382 | +€14,136 | +1134.5% |
| Profit (loss) for the period before taxes | 9903 | €65,463 | -€15,294 | -€80,757 | |
| Income taxes | 67/77 | €17,486 | - | -€17,486 | |
| Profit (loss) for the period | 9904 | €47,977 | -€15,294 | -€63,271 | |
| Profit (loss) for the period to be appropriated | 9905 | €47,977 | -€15,294 | -€63,271 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.