Rubicone: 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.
Rubicone
Largest movements
- Receivables within one year +€16,138
up €16,138 (+163%), from €9,902 to €26,040
of which Trade receivables: +€17,263
- Cash -€14,790
down €14,790 (-22.6%), from €65,476 to €50,686
mainly Contributions, distributions and other (-€104,246) and Receivables within one year (-€16,138)
- Current investments +€8,179
up €8,179 (+2.1%), from €392,136 to €400,315
- Other debts +€58,920
up €58,920 (+104%), from €56,917 to €115,837
- Reserves -€55,873
down €55,873 (-17.7%), from €315,853 to €259,980
of which Distributable reserves: -€54,013
- Tax, wage and social debts +€5,365
up €5,365 (+130%), from €4,118 to €9,483
- Financial income +€6,054
up €6,054 (+341%), from €1,774 to €7,828
- Gross operating margin +€3,283
up €3,283 (+5.4%), from €60,315 to €63,598
- Taxes +€2,196
up €2,196 (+13.4%), from €16,338 to €18,534
- Financial charges -€645
down €645 (-25.2%), from €2,563 to €1,918
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 | €470,930 | €478,947 | +€8,016 | +1.7% |
| Fixed assets | 21/28 | €3,416 | €1,905 | -€1,510 | -44.2% |
| Tangible fixed assets | 22/27 | €3,416 | €1,905 | -€1,510 | -44.2% |
| Plant, machinery and equipment | 23 | €2,462 | €1,195 | -€1,267 | -51.5% |
| Furniture and vehicles | 24 | €954 | €711 | -€243 | -25.5% |
| Current assets | 29/58 | €467,515 | €477,041 | +€9,527 | +2.0% |
| Amounts receivable within one year | 40/41 | €9,902 | €26,040 | +€16,138 | +163% |
| Trade receivables | 40 | €3,933 | €21,196 | +€17,263 | +439% |
| Other amounts receivable | 41 | €5,970 | €4,845 | -€1,125 | -18.8% |
| Current investments | 50/53 | €392,136 | €400,315 | +€8,179 | +2.1% |
| Cash at bank and in hand | 54/58 | €65,476 | €50,686 | -€14,790 | -22.6% |
| Total equity and liabilities | 10/49 | €470,930 | €478,947 | +€8,016 | +1.7% |
| Equity | 10/15 | €409,308 | €353,435 | -€55,873 | -13.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €315,853 | €259,980 | -€55,873 | -17.7% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €313,993 | €259,980 | -€54,013 | -17.2% |
| Profit (loss) carried forward | 14 | €87,255 | €87,255 | = | 0.0% |
| Amounts payable | 17/49 | €61,622 | €125,512 | +€63,890 | +104% |
| Amounts payable within one year | 42/48 | €61,622 | €125,512 | +€63,890 | +104% |
| Trade debts | 44 | €587 | €192 | -€395 | -67.3% |
| Suppliers | 440/4 | €587 | €192 | -€395 | -67.3% |
| Taxes, remuneration and social security | 45 | €4,118 | €9,483 | +€5,365 | +130% |
| Taxes | 450/3 | €4,118 | €9,483 | +€5,365 | +130% |
| Other amounts payable | 47/48 | €56,917 | €115,837 | +€58,920 | +104% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,300 | €1,511 | +€211 | +16.2% |
| Other operating charges | 640/8 | €1,272 | €1,091 | -€181 | -14.2% |
| Gross operating margin | 9900 | €60,315 | €63,598 | +€3,283 | +5.4% |
| Operating profit (loss) | 9901 | €57,743 | €60,996 | +€3,253 | +5.6% |
| Financial income | 75/76B | €1,774 | €7,828 | +€6,054 | +341% |
| Recurring financial income | 75 | €1,774 | €7,828 | +€6,054 | +341% |
| Financial charges | 65/66B | €2,563 | €1,918 | -€645 | -25.2% |
| Recurring financial charges | 65 | €2,563 | €1,918 | -€645 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | €56,954 | €66,907 | +€9,953 | +17.5% |
| Income taxes | 67/77 | €16,338 | €18,534 | +€2,196 | +13.4% |
| Profit (loss) for the period | 9904 | €40,615 | €48,372 | +€7,757 | +19.1% |
| Profit (loss) for the period to be appropriated | 9905 | €40,615 | €48,372 | +€7,757 | +19.1% |
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 30 October 2026 via checked.be.