RUBEMASTER: 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.
RUBEMASTER
Largest movements
- Financial fixed assets +€70,000
up €70,000 (+333.7%), from €20,975 to €90,975
- Cash +€68,271
up €68,271 (+58.3%), from €117,004 to €185,275
mainly Net result for the year (+€62,754) and Depreciation (+€39,661)
- Receivables within one year -€33,620
down €33,620 (-81.5%), from €41,237 to €7,616
of which Other amounts receivable: -€23,128
- Tangible fixed assets -€16,957
down €16,957 (-7.4%), from €227,828 to €210,871
of which Plant, machinery and equipment: -€17,939
- Profit (loss) carried forward +€62,754
up €62,754 (+141.7%), from €44,297 to €107,052
- Tax, wage and social debts +€24,509
up €24,509 (+248.8%), from €9,850 to €34,360
of which Taxes: +€15,336
- Trade debts +€16,560
up €16,560 (+102.5%), from €16,154 to €32,713
- Debts after one year -€15,013
down €15,013 (-7.3%), from €205,292 to €190,279
- Current portion of long-term debt -€7,723
down €7,723 (-34.0%), from €22,737 to €15,013
- Gross operating margin +€179,781
up €179,781 (+226.1%), from €79,525 to €259,307
- Staff costs +€63,235
up €63,235 (+147.8%), from €42,788 to €106,023
- Depreciation +€13,331
up €13,331 (+50.6%), from €26,329 to €39,661
- Taxes +€12,000
up €12,000 (+5522.8%), from €217 to €12,217
- Financial charges +€9,535
up €9,535 (+76.8%), from €12,418 to €21,954
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 | €427,577 | €515,669 | +€88,093 | +20.6% |
| Fixed assets | 21/28 | €248,803 | €301,846 | +€53,043 | +21.3% |
| Tangible fixed assets | 22/27 | €227,828 | €210,871 | -€16,957 | -7.4% |
| Plant, machinery and equipment | 23 | €96,536 | €78,597 | -€17,939 | -18.6% |
| Furniture and vehicles | 24 | €37,018 | €47,417 | +€10,399 | +28.1% |
| Other tangible fixed assets | 26 | €94,275 | €84,857 | -€9,417 | -10.0% |
| Financial fixed assets | 28 | €20,975 | €90,975 | +€70,000 | +333.7% |
| Current assets | 29/58 | €178,773 | €213,823 | +€35,050 | +19.6% |
| Amounts receivable within one year | 40/41 | €41,237 | €7,616 | -€33,620 | -81.5% |
| Trade receivables | 40 | €16,511 | €6,019 | -€10,492 | -63.5% |
| Other amounts receivable | 41 | €24,725 | €1,597 | -€23,128 | -93.5% |
| Cash at bank and in hand | 54/58 | €117,004 | €185,275 | +€68,271 | +58.3% |
| Deferred charges and accrued income | 490/1 | €20,533 | €20,932 | +€400 | +1.9% |
| Total equity and liabilities | 10/49 | €427,577 | €515,669 | +€88,093 | +20.6% |
| Equity | 10/15 | €63,408 | €126,162 | +€62,754 | +99.0% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | €5,110 | €5,110 | = | 0.0% |
| 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 | €3,250 | €3,250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,297 | €107,052 | +€62,754 | +141.7% |
| Amounts payable | 17/49 | €364,169 | €389,507 | +€25,338 | +7.0% |
| Amounts payable after more than one year | 17 | €205,292 | €190,279 | -€15,013 | -7.3% |
| Financial debts | 170/4 | €205,292 | €190,279 | -€15,013 | -7.3% |
| Amounts payable within one year | 42/48 | €158,374 | €198,725 | +€40,351 | +25.5% |
| Current portion of amounts payable after more than one year | 42 | €22,737 | €15,013 | -€7,723 | -34.0% |
| Trade debts | 44 | €16,154 | €32,713 | +€16,560 | +102.5% |
| Suppliers | 440/4 | €16,154 | €32,713 | +€16,560 | +102.5% |
| Taxes, remuneration and social security | 45 | €9,850 | €34,360 | +€24,509 | +248.8% |
| Taxes | 450/3 | €1,631 | €16,967 | +€15,336 | +940.3% |
| Remuneration and social security | 454/9 | €8,219 | €17,392 | +€9,173 | +111.6% |
| Other amounts payable | 47/48 | €109,633 | €116,639 | +€7,006 | +6.4% |
| Accrued charges and deferred income | 492/3 | €503 | €503 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €42,788 | €106,023 | +€63,235 | +147.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,329 | €39,661 | +€13,331 | +50.6% |
| Other operating charges | 640/8 | €18,183 | €16,698 | -€1,485 | -8.2% |
| Gross operating margin | 9900 | €79,525 | €259,307 | +€179,781 | +226.1% |
| Operating profit (loss) | 9901 | -€7,775 | €96,925 | +€104,700 | |
| Financial income | 75/76B | €22 | €0 | -€22 | -98.3% |
| Recurring financial income | 75 | €22 | €0 | -€22 | -98.3% |
| Financial charges | 65/66B | €12,418 | €21,954 | +€9,535 | +76.8% |
| Recurring financial charges | 65 | €12,418 | €21,954 | +€9,535 | +76.8% |
| Profit (loss) for the period before taxes | 9903 | -€20,171 | €74,972 | +€95,143 | |
| Income taxes | 67/77 | €217 | €12,217 | +€12,000 | +5522.8% |
| Profit (loss) for the period | 9904 | -€20,388 | €62,754 | +€83,143 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,388 | €62,754 | +€83,143 |
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 11 October 2026 via checked.be.