Rubart: 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.
Rubart
Largest movements
- Cash +€42,116
up €42,116 (+123%), from €34,366 to €76,483
mainly Net result for the year (+€91,016) and Depreciation (+€31,471)
- Tangible fixed assets -€18,450
down €18,450 (-9.9%), from €187,300 to €168,850
of which Other tangible fixed assets: -€15,036
- Profit (loss) carried forward +€76,016
up €76,016 (+95.0%), from -€79,999 to -€3,983
- Debts after one year -€26,833
down €26,833 (-25.1%), from €106,769 to €79,936
- Trade debts -€12,822
down €12,822 (-17.6%), from €72,841 to €60,019
- Other debts -€9,982
down €9,982 (-13.4%), from €74,483 to €64,501
- Tax, wage and social debts -€2,620
down €2,620 (-12.7%), from €20,556 to €17,936
of which Remuneration and social security: -€5,801
- Gross operating margin +€48,865
up €48,865 (+19.2%), from €254,747 to €303,611
- Staff costs +€5,813
up €5,813 (+3.5%), from €165,798 to €171,611
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 | €226,174 | €250,242 | +€24,068 | +10.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €188,200 | €169,750 | -€18,450 | -9.8% |
| Tangible fixed assets | 22/27 | €187,300 | €168,850 | -€18,450 | -9.9% |
| Plant, machinery and equipment | 23 | €33,949 | €32,300 | -€1,649 | -4.9% |
| Furniture and vehicles | 24 | €16,779 | €15,015 | -€1,764 | -10.5% |
| Other tangible fixed assets | 26 | €136,572 | €121,535 | -€15,036 | -11.0% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €37,974 | €80,491 | +€42,517 | +112% |
| Amounts receivable within one year | 40/41 | €3,071 | €4,009 | +€938 | +30.5% |
| Trade receivables | 40 | €3,071 | €1,147 | -€1,924 | -62.6% |
| Other amounts receivable | 41 | - | €2,862 | +€2,862 | |
| Cash at bank and in hand | 54/58 | €34,366 | €76,483 | +€42,116 | +123% |
| Deferred charges and accrued income | 490/1 | €537 | - | -€537 | |
| Total equity and liabilities | 10/49 | €226,174 | €250,242 | +€24,068 | +10.6% |
| Equity | 10/15 | -€74,999 | €1,017 | +€76,016 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,999 | -€3,983 | +€76,016 | +95.0% |
| Amounts payable | 17/49 | €301,172 | €249,224 | -€51,948 | -17.2% |
| Amounts payable after more than one year | 17 | €106,769 | €79,936 | -€26,833 | -25.1% |
| Financial debts | 170/4 | €106,769 | €79,936 | -€26,833 | -25.1% |
| Amounts payable within one year | 42/48 | €194,404 | €169,289 | -€25,115 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €26,524 | €26,833 | +€309 | +1.2% |
| Trade debts | 44 | €72,841 | €60,019 | -€12,822 | -17.6% |
| Suppliers | 440/4 | €72,841 | €60,019 | -€12,822 | -17.6% |
| Taxes, remuneration and social security | 45 | €20,556 | €17,936 | -€2,620 | -12.7% |
| Taxes | 450/3 | €1,507 | €4,688 | +€3,181 | +211% |
| Remuneration and social security | 454/9 | €19,050 | €13,248 | -€5,801 | -30.5% |
| Other amounts payable | 47/48 | €74,483 | €64,501 | -€9,982 | -13.4% |
| Remuneration, social security and pensions | 62 | €165,798 | €171,611 | +€5,813 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,292 | €31,471 | +€2,180 | +7.4% |
| Other operating charges | 640/8 | €3,417 | €4,537 | +€1,121 | +32.8% |
| Gross operating margin | 9900 | €254,747 | €303,611 | +€48,865 | +19.2% |
| Operating profit (loss) | 9901 | €56,240 | €95,992 | +€39,751 | +70.7% |
| Financial income | 75/76B | €29 | €148 | +€119 | +406% |
| Recurring financial income | 75 | €29 | €148 | +€119 | +406% |
| Financial charges | 65/66B | €6,430 | €4,269 | -€2,160 | -33.6% |
| Recurring financial charges | 65 | €6,430 | €4,269 | -€2,160 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €49,840 | €91,871 | +€42,031 | +84.3% |
| Income taxes | 67/77 | - | €855 | +€855 | |
| Profit (loss) for the period | 9904 | €49,840 | €91,016 | +€41,176 | +82.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,840 | €91,016 | +€41,176 | +82.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.