Rubezal: 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.
Rubezal
Largest movements
- Cash +€102,954
up €102,954 (+166%), from €61,957 to €164,912
mainly Net result for the year (+€76,275) and Receivables within one year (+€14,017)
- Receivables within one year -€14,017
down €14,017 (-38.9%), from €36,058 to €22,041
- Tangible fixed assets +€3,553
up €3,553 (+235%), from €1,515 to €5,068
of which Plant, machinery and equipment: +€1,852
- Reserves +€76,275
up €76,275 (+126%), from €60,453 to €136,728
- Tax, wage and social debts +€12,889
up €12,889 (+40.6%), from €31,729 to €44,619
of which Taxes: +€15,417
- Trade debts +€2,895
up €2,895 (+277%), from €1,045 to €3,940
- Gross operating margin +€21,107
up €21,107 (+27.1%), from €78,027 to €99,134
- Taxes +€4,519
up €4,519 (+29.2%), from €15,466 to €19,986
- Financial charges +€1,067
up €1,067 (+119%), from €900 to €1,967
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 | €99,789 | €192,325 | +€92,536 | +92.7% |
| Fixed assets | 21/28 | €1,515 | €5,068 | +€3,553 | +235% |
| Tangible fixed assets | 22/27 | €1,515 | €5,068 | +€3,553 | +235% |
| Plant, machinery and equipment | 23 | - | €1,852 | +€1,852 | |
| Furniture and vehicles | 24 | €1,515 | €3,216 | +€1,701 | +112% |
| Current assets | 29/58 | €98,274 | €187,257 | +€88,983 | +90.5% |
| Amounts receivable within one year | 40/41 | €36,058 | €22,041 | -€14,017 | -38.9% |
| Trade receivables | 40 | €36,058 | €22,041 | -€14,017 | -38.9% |
| Cash at bank and in hand | 54/58 | €61,957 | €164,912 | +€102,954 | +166% |
| Deferred charges and accrued income | 490/1 | €259 | €304 | +€45 | +17.3% |
| Total equity and liabilities | 10/49 | €99,789 | €192,325 | +€92,536 | +92.7% |
| Equity | 10/15 | €65,453 | €141,728 | +€76,275 | +117% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €60,453 | €136,728 | +€76,275 | +126% |
| Distributable reserves | 133 | €60,453 | €136,728 | +€76,275 | +126% |
| Amounts payable | 17/49 | €34,336 | €50,597 | +€16,261 | +47.4% |
| Amounts payable within one year | 42/48 | €34,336 | €49,372 | +€15,036 | +43.8% |
| Trade debts | 44 | €1,045 | €3,940 | +€2,895 | +277% |
| Suppliers | 440/4 | €1,045 | €3,940 | +€2,895 | +277% |
| Taxes, remuneration and social security | 45 | €31,729 | €44,619 | +€12,889 | +40.6% |
| Taxes | 450/3 | €29,202 | €44,619 | +€15,417 | +52.8% |
| Remuneration and social security | 454/9 | €2,527 | - | -€2,527 | |
| Other amounts payable | 47/48 | €1,562 | €813 | -€749 | -47.9% |
| Accrued charges and deferred income | 492/3 | - | €1,225 | +€1,225 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,247 | €886 | -€361 | -28.9% |
| Other operating charges | 640/8 | - | €128 | +€128 | |
| Gross operating margin | 9900 | €78,027 | €99,134 | +€21,107 | +27.1% |
| Operating profit (loss) | 9901 | €76,780 | €98,120 | +€21,340 | +27.8% |
| Financial income | 75/76B | €39 | €107 | +€68 | +174% |
| Recurring financial income | 75 | €39 | €107 | +€68 | +174% |
| Financial charges | 65/66B | €900 | €1,967 | +€1,067 | +119% |
| Recurring financial charges | 65 | €900 | €1,967 | +€1,067 | +119% |
| Profit (loss) for the period before taxes | 9903 | €75,919 | €96,260 | +€20,341 | +26.8% |
| Income taxes | 67/77 | €15,466 | €19,986 | +€4,519 | +29.2% |
| Profit (loss) for the period | 9904 | €60,453 | €76,275 | +€15,822 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,453 | €76,275 | +€15,822 | +26.2% |
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 15 October 2026 via checked.be.