RUBICOR: what changed
RUBICOR
Largest movements
- Receivables within one year +€20,006
up €20,006 (+42.4%), from €47,168 to €67,173
of which Other amounts receivable: +€18,476
- Cash +€13,868
up €13,868 (+36.3%), from €38,189 to €52,057
mainly Net result for the year (+€56,539) and Short-term financial debts (+€4,942)
- Tangible fixed assets +€4,359
up €4,359 (+123%), from €3,541 to €7,900
of which Plant, machinery and equipment: +€6,316
- Deferred charges and accrued income -€2,555
down €2,555 (-68.8%), from €3,715 to €1,160
- Reserves +€56,539
up €56,539 (+48.9%), from €115,630 to €172,169
- Debts after one year -€20,233
down €20,233 (-42.2%), from €48,000 to €27,767
- Short-term financial debts +€4,942
new in 2025: €4,942
- Tax, wage and social debts -€4,562
down €4,562 (-24.3%), from €18,769 to €14,207
- Financial income +€20,062
up €20,062 (+415,355%), from €5 to €20,066
- Gross operating margin -€4,917
down €4,917 (-6.4%), from €77,137 to €72,220
- Taxes +€4,553
up €4,553 (+17.2%), from €26,471 to €31,023
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €212,613 | €248,290 | +€35,678 | +16.8% |
| Fixed assets | 21/28 | €123,541 | €127,900 | +€4,359 | +3.5% |
| Tangible fixed assets | 22/27 | €3,541 | €7,900 | +€4,359 | +123% |
| Plant, machinery and equipment | 23 | €88 | €6,404 | +€6,316 | +7,189% |
| Furniture and vehicles | 24 | €3,453 | €1,496 | -€1,958 | -56.7% |
| Financial fixed assets | 28 | €120,000 | €120,000 | = | 0.0% |
| Current assets | 29/58 | €89,071 | €120,390 | +€31,319 | +35.2% |
| Amounts receivable within one year | 40/41 | €47,168 | €67,173 | +€20,006 | +42.4% |
| Trade receivables | 40 | €15,750 | €17,279 | +€1,530 | +9.7% |
| Other amounts receivable | 41 | €31,418 | €49,894 | +€18,476 | +58.8% |
| Cash at bank and in hand | 54/58 | €38,189 | €52,057 | +€13,868 | +36.3% |
| Deferred charges and accrued income | 490/1 | €3,715 | €1,160 | -€2,555 | -68.8% |
| Total equity and liabilities | 10/49 | €212,613 | €248,290 | +€35,678 | +16.8% |
| Equity | 10/15 | €134,230 | €190,769 | +€56,539 | +42.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €115,630 | €172,169 | +€56,539 | +48.9% |
| Distributable reserves | 133 | €115,630 | €172,169 | +€56,539 | +48.9% |
| Amounts payable | 17/49 | €78,383 | €57,521 | -€20,861 | -26.6% |
| Amounts payable after more than one year | 17 | €48,000 | €27,767 | -€20,233 | -42.2% |
| Financial debts | 170/4 | €48,000 | €27,767 | -€20,233 | -42.2% |
| Amounts payable within one year | 42/48 | €30,383 | €29,755 | -€628 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | - | €1,922 | +€1,922 | |
| Financial debts | 43 | - | €4,942 | +€4,942 | |
| Other loans | 439 | - | €4,942 | +€4,942 | |
| Trade debts | 44 | €10,727 | €8,345 | -€2,382 | -22.2% |
| Suppliers | 440/4 | €10,727 | €8,345 | -€2,382 | -22.2% |
| Taxes, remuneration and social security | 45 | €18,769 | €14,207 | -€4,562 | -24.3% |
| Taxes | 450/3 | €18,769 | €14,207 | -€4,562 | -24.3% |
| Other amounts payable | 47/48 | €887 | €338 | -€548 | -61.8% |
| Non-recurring operating income | 76A | €826 | - | -€826 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,583 | €2,481 | -€102 | -3.9% |
| Other operating charges | 640/8 | €895 | €847 | -€48 | -5.3% |
| Non-recurring operating charges | 66A | €179 | - | -€179 | |
| Gross operating margin | 9900 | €77,137 | €72,220 | -€4,917 | -6.4% |
| Operating profit (loss) | 9901 | €73,480 | €68,892 | -€4,589 | -6.2% |
| Financial income | 75/76B | €5 | €20,066 | +€20,062 | +415,355% |
| Recurring financial income | 75 | €5 | €20,066 | +€20,062 | +415,355% |
| Financial charges | 65/66B | €2,070 | €1,396 | -€674 | -32.6% |
| Recurring financial charges | 65 | €2,070 | €1,396 | -€674 | -32.6% |
| Profit (loss) for the period before taxes | 9903 | €71,415 | €87,562 | +€16,147 | +22.6% |
| Income taxes | 67/77 | €26,471 | €31,023 | +€4,553 | +17.2% |
| Profit (loss) for the period | 9904 | €44,944 | €56,539 | +€11,595 | +25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €44,944 | €56,539 | +€11,595 | +25.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.