RUBICON PARTNERS: 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.
RUBICON PARTNERS
Largest movements
- Cash +€98,823
up €98,823 (+34.2%), from €288,665 to €387,488
mainly Net result for the year (+€93,597) and Receivables within one year (+€5,140)
- Tangible fixed assets +€6,331
up €6,331 (+1,325%), from €478 to €6,809
of which Other tangible fixed assets: +€4,598
- Receivables within one year -€5,140
down €5,140 (-17.0%), from €30,265 to €25,125
- Reserves +€93,597
up €93,597 (+33.0%), from €283,353 to €376,950
- Trade debts +€4,820
up €4,820 (+152%), from €3,161 to €7,980
- Other debts +€4,637
up €4,637 (+197%), from €2,356 to €6,994
- Gross operating margin -€6,393
down €6,393 (-4.5%), from €142,076 to €135,682
- Taxes -€2,801
down €2,801 (-6.5%), from €42,959 to €40,157
- Financial income -€2,573
down €2,573 (-58.2%), from €4,417 to €1,845
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 | €319,408 | €419,421 | +€100,014 | +31.3% |
| Fixed assets | 21/28 | €478 | €6,809 | +€6,331 | +1,325% |
| Tangible fixed assets | 22/27 | €478 | €6,809 | +€6,331 | +1,325% |
| Furniture and vehicles | 24 | €478 | €2,211 | +€1,733 | +363% |
| Other tangible fixed assets | 26 | - | €4,598 | +€4,598 | |
| Current assets | 29/58 | €318,930 | €412,613 | +€93,683 | +29.4% |
| Amounts receivable within one year | 40/41 | €30,265 | €25,125 | -€5,140 | -17.0% |
| Trade receivables | 40 | €30,265 | €25,125 | -€5,140 | -17.0% |
| Cash at bank and in hand | 54/58 | €288,665 | €387,488 | +€98,823 | +34.2% |
| Total equity and liabilities | 10/49 | €319,408 | €419,421 | +€100,014 | +31.3% |
| Equity | 10/15 | €301,953 | €395,550 | +€93,597 | +31.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €283,353 | €376,950 | +€93,597 | +33.0% |
| Distributable reserves | 133 | €283,353 | €376,950 | +€93,597 | +33.0% |
| Amounts payable | 17/49 | €17,455 | €23,872 | +€6,417 | +36.8% |
| Amounts payable within one year | 42/48 | €17,455 | €23,872 | +€6,417 | +36.8% |
| Trade debts | 44 | €3,161 | €7,980 | +€4,820 | +152% |
| Suppliers | 440/4 | €3,161 | €7,980 | +€4,820 | +152% |
| Taxes, remuneration and social security | 45 | €11,938 | €8,898 | -€3,040 | -25.5% |
| Taxes | 450/3 | €11,938 | €8,898 | -€3,040 | -25.5% |
| Other amounts payable | 47/48 | €2,356 | €6,994 | +€4,637 | +197% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,372 | €1,233 | -€1,140 | -48.0% |
| Other operating charges | 640/8 | €2,479 | €1,913 | -€566 | -22.8% |
| Gross operating margin | 9900 | €142,076 | €135,682 | -€6,393 | -4.5% |
| Operating profit (loss) | 9901 | €137,224 | €132,536 | -€4,688 | -3.4% |
| Financial income | 75/76B | €4,417 | €1,845 | -€2,573 | -58.2% |
| Recurring financial income | 75 | €4,417 | €1,845 | -€2,573 | -58.2% |
| Financial charges | 65/66B | €81 | €627 | +€545 | +670% |
| Recurring financial charges | 65 | €81 | €627 | +€545 | +670% |
| Profit (loss) for the period before taxes | 9903 | €141,560 | €133,754 | -€7,806 | -5.5% |
| Income taxes | 67/77 | €42,959 | €40,157 | -€2,801 | -6.5% |
| Profit (loss) for the period | 9904 | €98,601 | €93,597 | -€5,005 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €98,601 | €93,597 | -€5,005 | -5.1% |
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 23 October 2026 via checked.be.