RUBIBEL: 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.
RUBIBEL
Largest movements
- Current investments +€45,000
up €45,000 (+10.6%), from €425,000 to €470,000
- Receivables within one year -€37,890
down €37,890 (-2.7%), from €1.4m to €1.4m
of which Other amounts receivable: -€26,470
- Other debts +€141,788
new in 2025: €141,788
- Reserves -€133,181
down €133,181 (-7.4%), from €1.8m to €1.7m
of which Distributable reserves: -€133,181
- Staff costs -€117,880
down €117,880 (-78.7%), from €149,757 to €31,877
- Gross operating margin -€104,357
down €104,357 (-73.2%), from €142,481 to €38,124
- Financial income -€5,435
down €5,435 (-16.0%), from €33,933 to €28,498
- Taxes +€1,662
up €1,662 (+38.8%), from €4,281 to €5,943
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 | €1,881,014 | €1,874,363 | -€6,652 | -0.4% |
| Fixed assets | 21/28 | €22,237 | €11,249 | -€10,989 | -49.4% |
| Tangible fixed assets | 22/27 | €20,017 | €9,029 | -€10,989 | -54.9% |
| Plant, machinery and equipment | 23 | €20,017 | €9,029 | -€10,989 | -54.9% |
| Financial fixed assets | 28 | €2,220 | €2,220 | = | 0.0% |
| Current assets | 29/58 | €1,858,777 | €1,863,114 | +€4,337 | +0.2% |
| Amounts receivable within one year | 40/41 | €1,392,386 | €1,354,496 | -€37,890 | -2.7% |
| Trade receivables | 40 | €47,070 | €35,649 | -€11,420 | -24.3% |
| Other amounts receivable | 41 | €1,345,316 | €1,318,846 | -€26,470 | -2.0% |
| Current investments | 50/53 | €425,000 | €470,000 | +€45,000 | +10.6% |
| Cash at bank and in hand | 54/58 | €21,816 | €19,118 | -€2,697 | -12.4% |
| Deferred charges and accrued income | 490/1 | €19,575 | €19,500 | -€75 | -0.4% |
| Total equity and liabilities | 10/49 | €1,881,014 | €1,874,363 | -€6,652 | -0.4% |
| Equity | 10/15 | €1,827,336 | €1,694,155 | -€133,181 | -7.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €1,802,336 | €1,669,155 | -€133,181 | -7.4% |
| Non-distributable reserves | 130/1 | €2,500 | €2,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €1,799,836 | €1,666,655 | -€133,181 | -7.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €53,678 | €180,208 | +€126,530 | +236% |
| Amounts payable within one year | 42/48 | €52,090 | €178,619 | +€126,528 | +243% |
| Trade debts | 44 | €38,313 | €26,901 | -€11,413 | -29.8% |
| Suppliers | 440/4 | €38,313 | €26,901 | -€11,413 | -29.8% |
| Taxes, remuneration and social security | 45 | €13,777 | €9,929 | -€3,848 | -27.9% |
| Taxes | 450/3 | €350 | €7,463 | +€7,113 | +2,034% |
| Remuneration and social security | 454/9 | €13,427 | €2,467 | -€10,960 | -81.6% |
| Other amounts payable | 47/48 | - | €141,788 | +€141,788 | |
| Accrued charges and deferred income | 492/3 | €1,588 | €1,589 | +€2 | +0.1% |
| Remuneration, social security and pensions | 62 | €149,757 | €31,877 | -€117,880 | -78.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,989 | €10,989 | = | 0.0% |
| Other operating charges | 640/8 | €1,851 | €1,690 | -€161 | -8.7% |
| Gross operating margin | 9900 | €142,481 | €38,124 | -€104,357 | -73.2% |
| Operating profit (loss) | 9901 | -€20,116 | -€6,432 | +€13,684 | +68.0% |
| Financial income | 75/76B | €33,933 | €28,498 | -€5,435 | -16.0% |
| Recurring financial income | 75 | €33,933 | €28,498 | -€5,435 | -16.0% |
| Financial charges | 65/66B | €346 | €53 | -€294 | -84.7% |
| Recurring financial charges | 65 | €346 | €53 | -€294 | -84.7% |
| Profit (loss) for the period before taxes | 9903 | €13,470 | €22,013 | +€8,543 | +63.4% |
| Income taxes | 67/77 | €4,281 | €5,943 | +€1,662 | +38.8% |
| Profit (loss) for the period | 9904 | €9,189 | €16,070 | +€6,881 | +74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €9,189 | €16,070 | +€6,881 | +74.9% |
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 14 October 2026 via checked.be.