RUBELIS: 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.
RUBELIS
Largest movements
- Tangible fixed assets -€42,092
down €42,092 (-12.2%), from €346,064 to €303,972
- Current investments -€30,000
down €30,000 (-13.0%), from €230,000 to €200,000
- Cash +€7,508
up €7,508 (+13.9%), from €54,044 to €61,552
mainly Depreciation (+€42,092) and Net result for the year (+€34,351)
- Other debts -€44,324
no longer reported in 2025 (was €44,324)
- Reserves -€20,649
down €20,649 (-3.7%), from €557,487 to €536,839
- Gross operating margin -€2,570
down €2,570 (-2.7%), from €95,694 to €93,124
- Financial income +€2,303
up €2,303 (+74.2%), from €3,104 to €5,407
- Taxes +€1,283
up €1,283 (+8.6%), from €14,969 to €16,252
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 | €649,009 | €585,115 | -€63,894 | -9.8% |
| Fixed assets | 21/28 | €346,064 | €303,972 | -€42,092 | -12.2% |
| Tangible fixed assets | 22/27 | €346,064 | €303,972 | -€42,092 | -12.2% |
| Land and buildings | 22 | €346,064 | €303,972 | -€42,092 | -12.2% |
| Current assets | 29/58 | €302,944 | €281,143 | -€21,802 | -7.2% |
| Amounts receivable within one year | 40/41 | €18,900 | €19,591 | +€691 | +3.7% |
| Trade receivables | 40 | €3,969 | €3,969 | = | 0.0% |
| Other amounts receivable | 41 | €14,931 | €15,622 | +€691 | +4.6% |
| Current investments | 50/53 | €230,000 | €200,000 | -€30,000 | -13.0% |
| Cash at bank and in hand | 54/58 | €54,044 | €61,552 | +€7,508 | +13.9% |
| Total equity and liabilities | 10/49 | €649,009 | €585,115 | -€63,894 | -9.8% |
| Equity | 10/15 | €580,174 | €559,525 | -€20,649 | -3.6% |
| Contributions | 10/11 | €22,687 | €22,687 | = | 0.0% |
| Reserves | 13 | €557,487 | €536,839 | -€20,649 | -3.7% |
| Distributable reserves | 133 | €557,487 | €536,839 | -€20,649 | -3.7% |
| Amounts payable | 17/49 | €68,835 | €25,590 | -€43,245 | -62.8% |
| Amounts payable within one year | 42/48 | €68,835 | €25,590 | -€43,245 | -62.8% |
| Trade debts | 44 | €330 | €3,882 | +€3,552 | +1076.3% |
| Suppliers | 440/4 | €330 | €3,882 | +€3,552 | +1076.3% |
| Taxes, remuneration and social security | 45 | €24,181 | €21,708 | -€2,473 | -10.2% |
| Taxes | 450/3 | €24,181 | €21,708 | -€2,473 | -10.2% |
| Other amounts payable | 47/48 | €44,324 | - | -€44,324 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,092 | €42,092 | = | 0.0% |
| Other operating charges | 640/8 | €5,948 | €5,792 | -€156 | -2.6% |
| Gross operating margin | 9900 | €95,694 | €93,124 | -€2,570 | -2.7% |
| Operating profit (loss) | 9901 | €47,654 | €45,240 | -€2,414 | -5.1% |
| Financial income | 75/76B | €3,104 | €5,407 | +€2,303 | +74.2% |
| Recurring financial income | 75 | €3,104 | €5,407 | +€2,303 | +74.2% |
| Financial charges | 65/66B | €43 | €44 | +€1 | +2.5% |
| Recurring financial charges | 65 | €43 | €44 | +€1 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €50,715 | €50,603 | -€112 | -0.2% |
| Income taxes | 67/77 | €14,969 | €16,252 | +€1,283 | +8.6% |
| Profit (loss) for the period | 9904 | €35,746 | €34,351 | -€1,395 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €35,746 | €34,351 | -€1,395 | -3.9% |
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 8 October 2026 via checked.be.