RUBANO: 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.
RUBANO
Largest movements
- Stocks and contracts +€477,536
up €477,536, from €0 to €477,536
- Cash -€201,241
down €201,241 (-97.7%), from €206,027 to €4,786
mainly Stocks and contracts (-€477,536) and Trade debts (-€236,732)
- Receivables within one year -€143,053
down €143,053 (-57.5%), from €248,598 to €105,544
of which Trade receivables: -€244,734
- Debts after one year +€524,673
up €524,673 (+51.5%), from €1.0m to €1.5m
- Trade debts -€236,732
down €236,732 (-98.1%), from €241,301 to €4,569
- Profit (loss) carried forward -€95,531
down €95,531 (-10.0%), from -€955,218 to -€1.1m
- Tax, wage and social debts -€46,779
down €46,779 (-100.0%), from €46,779 to €0
- Accrued charges and deferred income -€12,500
down €12,500 (-16.0%), from €78,073 to €65,573
- Gross operating margin +€548,965
up €548,965 (+94.8%), from -€578,955 to -€29,990
- Financial income -€20,898
down €20,898 (-95.9%), from €21,792 to €895
- Financial charges -€18,700
down €18,700 (-22.0%), from €84,881 to €66,181
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 | €454,735 | €587,867 | +€133,132 | +29.3% |
| Current assets | 29/58 | €454,735 | €587,867 | +€133,132 | +29.3% |
| Stocks and contracts in progress | 3 | €0 | €477,536 | +€477,536 | |
| Contracts in progress | 37 | €0 | €477,536 | +€477,536 | |
| Amounts receivable within one year | 40/41 | €248,598 | €105,544 | -€143,053 | -57.5% |
| Trade receivables | 40 | €246,589 | €1,855 | -€244,734 | -99.2% |
| Other amounts receivable | 41 | €2,008 | €103,689 | +€101,681 | +5063.6% |
| Cash at bank and in hand | 54/58 | €206,027 | €4,786 | -€201,241 | -97.7% |
| Deferred charges and accrued income | 490/1 | €110 | €0 | -€110 | -100.0% |
| Total equity and liabilities | 10/49 | €454,735 | €587,867 | +€133,132 | +29.3% |
| Equity | 10/15 | -€930,218 | -€1,025,749 | -€95,531 | -10.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€955,218 | -€1,050,749 | -€95,531 | -10.0% |
| Amounts payable | 17/49 | €1,384,953 | €1,613,615 | +€228,662 | +16.5% |
| Amounts payable after more than one year | 17 | €1,018,800 | €1,543,473 | +€524,673 | +51.5% |
| Financial debts | 170/4 | €1,018,800 | €1,543,473 | +€524,673 | +51.5% |
| Amounts payable within one year | 42/48 | €288,080 | €4,569 | -€283,511 | -98.4% |
| Trade debts | 44 | €241,301 | €4,569 | -€236,732 | -98.1% |
| Suppliers | 440/4 | €241,301 | €4,569 | -€236,732 | -98.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €46,779 | €0 | -€46,779 | -100.0% |
| Taxes | 450/3 | €46,779 | €0 | -€46,779 | -100.0% |
| Accrued charges and deferred income | 492/3 | €78,073 | €65,573 | -€12,500 | -16.0% |
| Other operating charges | 640/8 | €141 | €254 | +€114 | +80.9% |
| Gross operating margin | 9900 | -€578,955 | -€29,990 | +€548,965 | +94.8% |
| Operating profit (loss) | 9901 | -€579,096 | -€30,244 | +€548,852 | +94.8% |
| Financial income | 75/76B | €21,792 | €895 | -€20,898 | -95.9% |
| Recurring financial income | 75 | €21,792 | €895 | -€20,898 | -95.9% |
| Financial charges | 65/66B | €84,881 | €66,181 | -€18,700 | -22.0% |
| Recurring financial charges | 65 | €84,881 | €66,181 | -€18,700 | -22.0% |
| Profit (loss) for the period before taxes | 9903 | -€642,185 | -€95,531 | +€546,654 | +85.1% |
| Profit (loss) for the period | 9904 | -€642,185 | -€95,531 | +€546,654 | +85.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€642,185 | -€95,531 | +€546,654 | +85.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.