RUBEC: 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.
RUBEC
Largest movements
- Cash +€217,681
up €217,681 (+133%), from €163,080 to €380,762
mainly Net result for the year (+€253,243) and Receivables within one year (+€106,030)
- Receivables within one year -€106,030
down €106,030 (-38.9%), from €272,569 to €166,539
of which Other amounts receivable: -€93,214
- Stocks and contracts -€19,935
down €19,935 (-7.7%), from €257,557 to €237,622
- Reserves +€203,243
up €203,243 (+52.2%), from €388,996 to €592,240
of which Distributable reserves: +€203,243
- Trade debts -€121,893
down €121,893 (-73.7%), from €165,360 to €43,467
- Gross operating margin +€51,060
up €51,060 (+9.4%), from €543,743 to €594,803
- Staff costs -€24,759
down €24,759 (-9.4%), from €263,470 to €238,711
- Taxes +€18,694
up €18,694 (+24.2%), from €77,323 to €96,017
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 | €694,616 | €789,605 | +€94,989 | +13.7% |
| Fixed assets | 21/28 | - | €3,124 | +€3,124 | |
| Tangible fixed assets | 22/27 | - | €3,124 | +€3,124 | |
| Furniture and vehicles | 24 | - | €3,124 | +€3,124 | |
| Current assets | 29/58 | €694,616 | €786,481 | +€91,865 | +13.2% |
| Stocks and contracts in progress | 3 | €257,557 | €237,622 | -€19,935 | -7.7% |
| Stocks | 30/36 | €257,557 | €237,622 | -€19,935 | -7.7% |
| Amounts receivable within one year | 40/41 | €272,569 | €166,539 | -€106,030 | -38.9% |
| Trade receivables | 40 | €138,958 | €126,141 | -€12,816 | -9.2% |
| Other amounts receivable | 41 | €133,612 | €40,398 | -€93,214 | -69.8% |
| Cash at bank and in hand | 54/58 | €163,080 | €380,762 | +€217,681 | +133% |
| Deferred charges and accrued income | 490/1 | €1,409 | €1,558 | +€149 | +10.5% |
| Total equity and liabilities | 10/49 | €694,616 | €789,605 | +€94,989 | +13.7% |
| Equity | 10/15 | €391,038 | €594,282 | +€203,243 | +52.0% |
| Contributions | 10/11 | €2,042 | €2,042 | = | 0.0% |
| Reserves | 13 | €388,996 | €592,240 | +€203,243 | +52.2% |
| Tax-exempt reserves | 132 | €2,059 | €2,059 | = | 0.0% |
| Distributable reserves | 133 | €386,937 | €590,180 | +€203,243 | +52.5% |
| Amounts payable | 17/49 | €303,578 | €195,323 | -€108,254 | -35.7% |
| Amounts payable within one year | 42/48 | €303,578 | €195,323 | -€108,254 | -35.7% |
| Financial debts | 43 | - | €4,214 | +€4,214 | |
| Credit institutions | 430/8 | - | €4,214 | +€4,214 | |
| Trade debts | 44 | €165,360 | €43,467 | -€121,893 | -73.7% |
| Suppliers | 440/4 | €165,360 | €43,467 | -€121,893 | -73.7% |
| Taxes, remuneration and social security | 45 | €85,280 | €89,801 | +€4,520 | +5.3% |
| Taxes | 450/3 | €49,346 | €55,888 | +€6,541 | +13.3% |
| Remuneration and social security | 454/9 | €35,934 | €33,913 | -€2,021 | -5.6% |
| Other amounts payable | 47/48 | €52,938 | €57,842 | +€4,904 | +9.3% |
| Remuneration, social security and pensions | 62 | €263,470 | €238,711 | -€24,759 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €781 | +€781 | |
| Other operating charges | 640/8 | €3,599 | €7,411 | +€3,812 | +106% |
| Gross operating margin | 9900 | €543,743 | €594,803 | +€51,060 | +9.4% |
| Operating profit (loss) | 9901 | €276,675 | €347,900 | +€71,226 | +25.7% |
| Financial income | 75/76B | €54 | €4,239 | +€4,185 | +7,747% |
| Recurring financial income | 75 | €54 | €4,239 | +€4,185 | +7,747% |
| Financial charges | 65/66B | €157 | €2,879 | +€2,722 | +1,730% |
| Recurring financial charges | 65 | €157 | €2,879 | +€2,722 | +1,730% |
| Profit (loss) for the period before taxes | 9903 | €276,571 | €349,260 | +€72,689 | +26.3% |
| Income taxes | 67/77 | €77,323 | €96,017 | +€18,694 | +24.2% |
| Profit (loss) for the period | 9904 | €199,248 | €253,243 | +€53,995 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €199,248 | €253,243 | +€53,995 | +27.1% |
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 13 October 2026 via checked.be.