RUBELLE: 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.
RUBELLE
Largest movements
- Receivables within one year -€86,002
down €86,002 (-90.5%), from €95,023 to €9,021
of which Other amounts receivable: -€87,381
- Short-term financial debts -€140,000
down €140,000 (-100%), from €140,000 to €0
- Debts after one year -€86,227
down €86,227 (-12.5%), from €690,229 to €604,001
of which Financial debts: -€86,227
- Reserves +€73,234
up €73,234 (+48.0%), from €152,514 to €225,748
- Current portion of long-term debt +€32,747
up €32,747 (+39.5%), from €82,873 to €115,619
- Tax, wage and social debts +€20,095
up €20,095 (+124%), from €16,177 to €36,272
- Financial income -€99,995
down €99,995 (-100.0%), from €100,000 to €5
- Financial charges -€21,044
down €21,044 (-38.9%), from €54,121 to €33,077
- Taxes +€4,433
up €4,433 (+28.7%), from €15,442 to €19,875
- Depreciation -€2,855
down €2,855 (-100%), from €2,855 to €0
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 | €1,107,581 | €1,015,567 | -€92,014 | -8.3% |
| Fixed assets | 21/28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Financial fixed assets | 28 | €1,000,000 | €1,000,000 | = | 0.0% |
| Current assets | 29/58 | €107,581 | €15,567 | -€92,014 | -85.5% |
| Amounts receivable within one year | 40/41 | €95,023 | €9,021 | -€86,002 | -90.5% |
| Trade receivables | 40 | - | €1,380 | +€1,380 | |
| Other amounts receivable | 41 | €95,023 | €7,642 | -€87,381 | -92.0% |
| Cash at bank and in hand | 54/58 | €12,558 | €6,545 | -€6,013 | -47.9% |
| Total equity and liabilities | 10/49 | €1,107,581 | €1,015,567 | -€92,014 | -8.3% |
| Equity | 10/15 | €172,514 | €245,748 | +€73,234 | +42.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €152,514 | €225,748 | +€73,234 | +48.0% |
| Distributable reserves | 133 | €152,514 | €225,748 | +€73,234 | +48.0% |
| Amounts payable | 17/49 | €935,067 | €769,818 | -€165,248 | -17.7% |
| Amounts payable after more than one year | 17 | €690,229 | €604,001 | -€86,227 | -12.5% |
| Financial debts | 170/4 | €597,479 | €511,251 | -€86,227 | -14.4% |
| Other amounts payable | 178/9 | €92,750 | €92,750 | = | 0.0% |
| Amounts payable within one year | 42/48 | €240,838 | €156,617 | -€84,221 | -35.0% |
| Current portion of amounts payable after more than one year | 42 | €82,873 | €115,619 | +€32,747 | +39.5% |
| Financial debts | 43 | €140,000 | €0 | -€140,000 | -100% |
| Credit institutions | 430/8 | €140,000 | €0 | -€140,000 | -100% |
| Trade debts | 44 | €1,788 | €3,539 | +€1,751 | +97.9% |
| Suppliers | 440/4 | €1,788 | €3,539 | +€1,751 | +97.9% |
| Advances received on contracts in progress | 46 | - | €1,186 | +€1,186 | |
| Taxes, remuneration and social security | 45 | €16,177 | €36,272 | +€20,095 | +124% |
| Taxes | 450/3 | €16,177 | €36,272 | +€20,095 | +124% |
| Accrued charges and deferred income | 492/3 | €4,000 | €9,200 | +€5,200 | +130% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,855 | €0 | -€2,855 | -100% |
| Other operating charges | 640/8 | €849 | €770 | -€79 | -9.3% |
| Gross operating margin | 9900 | €125,780 | €126,951 | +€1,171 | +0.9% |
| Operating profit (loss) | 9901 | €122,077 | €126,181 | +€4,105 | +3.4% |
| Financial income | 75/76B | €100,000 | €5 | -€99,995 | -100.0% |
| Recurring financial income | 75 | €100,000 | €5 | -€99,995 | -100.0% |
| Financial charges | 65/66B | €54,121 | €33,077 | -€21,044 | -38.9% |
| Recurring financial charges | 65 | €54,121 | €33,077 | -€21,044 | -38.9% |
| Profit (loss) for the period before taxes | 9903 | €167,956 | €93,109 | -€74,847 | -44.6% |
| Income taxes | 67/77 | €15,442 | €19,875 | +€4,433 | +28.7% |
| Profit (loss) for the period | 9904 | €152,514 | €73,234 | -€79,280 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €152,514 | €73,234 | -€79,280 | -52.0% |
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 27 October 2026 via checked.be.