RUBAS: 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.
RUBAS
Largest movements
- Receivables within one year -€35,367
down €35,367 (-24.8%), from €142,495 to €107,128
of which Trade receivables: -€25,065
- Tangible fixed assets -€29,597
down €29,597 (-56.5%), from €52,362 to €22,764
of which Land and buildings: -€26,297
- Deferred charges and accrued income +€28,394
up €28,394 (+730.1%), from €3,889 to €32,283
- Cash -€26,816
down €26,816 (-25.5%), from €105,151 to €78,335
mainly Contributions, distributions and other (-€254,000) and Deferred charges and accrued income (-€28,394)
- Reserves -€509,225
down €509,225 (-69.3%), from €734,818 to €225,593
of which Distributable reserves: -€509,225
- Profit (loss) carried forward +€323,417
up €323,417, from -€267,911 to €55,506
- Other debts +€134,000
new in 2025: €134,000
- Current portion of long-term debt -€5,157
no longer reported in 2025 (was €5,157)
- Other operating charges +€21,297
up €21,297 (+2613.4%), from €815 to €22,112
- Gross operating margin +€18,924
up €18,924 (+19.6%), from €96,681 to €115,605
- Depreciation -€16,698
down €16,698 (-70.1%), from €23,833 to €7,135
- Financial income +€5,292
up €5,292 (+106.1%), from €4,987 to €10,280
- Taxes +€1,375
up €1,375 (+5.2%), from €26,369 to €27,744
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €497,897 | €434,511 | -€63,386 | -12.7% |
| Fixed assets | 21/28 | €53,063 | €23,465 | -€29,597 | -55.8% |
| Tangible fixed assets | 22/27 | €52,362 | €22,764 | -€29,597 | -56.5% |
| Land and buildings | 22 | €26,297 | - | -€26,297 | |
| Plant, machinery and equipment | 23 | €3,722 | €6,078 | +€2,356 | +63.3% |
| Furniture and vehicles | 24 | €7,262 | €1,606 | -€5,656 | -77.9% |
| Other tangible fixed assets | 26 | €15,080 | €15,080 | = | 0.0% |
| Financial fixed assets | 28 | €701 | €701 | = | 0.0% |
| Current assets | 29/58 | €444,835 | €411,045 | -€33,789 | -7.6% |
| Amounts receivable after more than one year | 29 | €193,300 | €193,300 | = | 0.0% |
| Other amounts receivable | 291 | €193,300 | €193,300 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €142,495 | €107,128 | -€35,367 | -24.8% |
| Trade receivables | 40 | €25,065 | - | -€25,065 | |
| Other amounts receivable | 41 | €117,429 | €107,128 | -€10,302 | -8.8% |
| Cash at bank and in hand | 54/58 | €105,151 | €78,335 | -€26,816 | -25.5% |
| Deferred charges and accrued income | 490/1 | €3,889 | €32,283 | +€28,394 | +730.1% |
| Total equity and liabilities | 10/49 | €497,897 | €434,511 | -€63,386 | -12.7% |
| Equity | 10/15 | €479,307 | €293,498 | -€185,809 | -38.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €734,818 | €225,593 | -€509,225 | -69.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,738 | €2,738 | = | 0.0% |
| Distributable reserves | 133 | €730,220 | €220,995 | -€509,225 | -69.7% |
| Profit (loss) carried forward | 14 | -€267,911 | €55,506 | +€323,417 | |
| Amounts payable | 17/49 | €18,590 | €141,012 | +€122,422 | +658.5% |
| Amounts payable within one year | 42/48 | €18,590 | €141,012 | +€122,422 | +658.5% |
| Current portion of amounts payable after more than one year | 42 | €5,157 | - | -€5,157 | |
| Trade debts | 44 | €2,543 | €52 | -€2,490 | -97.9% |
| Suppliers | 440/4 | €2,543 | €52 | -€2,490 | -97.9% |
| Taxes, remuneration and social security | 45 | €10,891 | €6,960 | -€3,931 | -36.1% |
| Taxes | 450/3 | €10,891 | €6,960 | -€3,931 | -36.1% |
| Other amounts payable | 47/48 | - | €134,000 | +€134,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,833 | €7,135 | -€16,698 | -70.1% |
| Other operating charges | 640/8 | €815 | €22,112 | +€21,297 | +2613.4% |
| Gross operating margin | 9900 | €96,681 | €115,605 | +€18,924 | +19.6% |
| Operating profit (loss) | 9901 | €72,033 | €86,358 | +€14,326 | +19.9% |
| Financial income | 75/76B | €4,987 | €10,280 | +€5,292 | +106.1% |
| Recurring financial income | 75 | €4,987 | €10,280 | +€5,292 | +106.1% |
| Financial charges | 65/66B | €747 | €702 | -€44 | -5.9% |
| Recurring financial charges | 65 | €747 | €702 | -€44 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €76,273 | €95,936 | +€19,662 | +25.8% |
| Income taxes | 67/77 | €26,369 | €27,744 | +€1,375 | +5.2% |
| Profit (loss) for the period | 9904 | €49,904 | €68,191 | +€18,287 | +36.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,904 | €68,191 | +€18,287 | +36.6% |
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.