RUBATO: 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.
RUBATO
Largest movements
- Tangible fixed assets -€20,062
down €20,062 (-30.9%), from €65,028 to €44,966
of which Furniture and vehicles: -€19,962
- Cash +€5,975
up €5,975 (+6.3%), from €95,201 to €101,176
mainly Net result for the year (+€43,381) and Depreciation (+€20,062)
- Deferred charges and accrued income -€5,520
no longer reported in 2025 (was €5,520)
- Receivables within one year -€4,192
down €4,192 (-99.6%), from €4,210 to €18
- Financial fixed assets +€2,500
up €2,500 (+3.6%), from €68,850 to €71,350
- Reserves -€14,106
down €14,106 (-7.6%), from €186,437 to €172,331
- Debts after one year -€12,498
down €12,498 (-48.9%), from €25,538 to €13,040
- Gross operating margin +€14,163
up €14,163 (+19.5%), from €72,699 to €86,862
- Financial income -€13,070
down €13,070 (-96.1%), from €13,606 to €536
- Depreciation +€2,463
up €2,463 (+14.0%), from €17,599 to €20,062
- Taxes +€2,308
up €2,308 (+12.1%), from €19,105 to €21,412
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 | €243,522 | €220,427 | -€23,095 | -9.5% |
| Fixed assets | 21/28 | €133,878 | €116,316 | -€17,562 | -13.1% |
| Tangible fixed assets | 22/27 | €65,028 | €44,966 | -€20,062 | -30.9% |
| Plant, machinery and equipment | 23 | €100 | - | -€100 | |
| Furniture and vehicles | 24 | €64,928 | €44,966 | -€19,962 | -30.7% |
| Financial fixed assets | 28 | €68,850 | €71,350 | +€2,500 | +3.6% |
| Current assets | 29/58 | €109,643 | €104,110 | -€5,533 | -5.0% |
| Amounts receivable after more than one year | 29 | €4,712 | €2,917 | -€1,796 | -38.1% |
| Other amounts receivable | 291 | €4,712 | €2,917 | -€1,796 | -38.1% |
| Amounts receivable within one year | 40/41 | €4,210 | €18 | -€4,192 | -99.6% |
| Other amounts receivable | 41 | €4,210 | €18 | -€4,192 | -99.6% |
| Cash at bank and in hand | 54/58 | €95,201 | €101,176 | +€5,975 | +6.3% |
| Deferred charges and accrued income | 490/1 | €5,520 | - | -€5,520 | |
| Total equity and liabilities | 10/49 | €243,522 | €220,427 | -€23,095 | -9.5% |
| Equity | 10/15 | €205,037 | €190,931 | -€14,106 | -6.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €186,437 | €172,331 | -€14,106 | -7.6% |
| Distributable reserves | 133 | €186,437 | €172,331 | -€14,106 | -7.6% |
| Amounts payable | 17/49 | €38,484 | €29,496 | -€8,989 | -23.4% |
| Amounts payable after more than one year | 17 | €25,538 | €13,040 | -€12,498 | -48.9% |
| Financial debts | 170/4 | €25,538 | €13,040 | -€12,498 | -48.9% |
| Amounts payable within one year | 42/48 | €12,946 | €16,456 | +€3,510 | +27.1% |
| Current portion of amounts payable after more than one year | 42 | €11,979 | €12,498 | +€519 | +4.3% |
| Trade debts | 44 | €206 | €1,095 | +€889 | +431.6% |
| Suppliers | 440/4 | €206 | €1,095 | +€889 | +431.6% |
| Taxes, remuneration and social security | 45 | €761 | €1,545 | +€785 | +103.1% |
| Taxes | 450/3 | €761 | €1,545 | +€785 | +103.1% |
| Other amounts payable | 47/48 | - | €1,317 | +€1,317 | |
| Non-recurring operating income | 76A | €150 | - | -€150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,599 | €20,062 | +€2,463 | +14.0% |
| Other operating charges | 640/8 | €1,343 | €1,030 | -€313 | -23.3% |
| Gross operating margin | 9900 | €72,699 | €86,862 | +€14,163 | +19.5% |
| Operating profit (loss) | 9901 | €53,757 | €65,770 | +€12,013 | +22.3% |
| Financial income | 75/76B | €13,606 | €536 | -€13,070 | -96.1% |
| Recurring financial income | 75 | €13,606 | €536 | -€13,070 | -96.1% |
| Financial charges | 65/66B | €2,016 | €1,513 | -€503 | -25.0% |
| Recurring financial charges | 65 | €2,016 | €1,513 | -€503 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €65,347 | €64,793 | -€554 | -0.8% |
| Income taxes | 67/77 | €19,105 | €21,412 | +€2,308 | +12.1% |
| Profit (loss) for the period | 9904 | €46,242 | €43,381 | -€2,861 | -6.2% |
| Profit (loss) for the period to be appropriated | 9905 | €46,242 | €43,381 | -€2,861 | -6.2% |
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 9 October 2026 via checked.be.