RUBICUB: 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.
RUBICUB
Largest movements
- Receivables after one year -€251,855
down €251,855 (-7.6%), from €3.3m to €3.1m
- Receivables within one year -€121,492
down €121,492 (-9.7%), from €1.3m to €1.1m
of which Other amounts receivable: -€123,231
- Other debts -€149,660
down €149,660 (-3.9%), from €3.8m to €3.7m
- Reserves -€147,085
down €147,085 (-3.2%), from €4.6m to €4.5m
- Financial charges +€199,721
up €199,721 (+6,798%), from €2,938 to €202,659
of which Non-recurring financial charges: +€200,000
- Gross operating margin +€13,331
up €13,331 (+28.4%), from -€46,958 to -€33,627
- Taxes -€10,104
down €10,104, from €8,572 to -€1,532
- Financial income +€5,143
up €5,143 (+5.3%), from €97,322 to €102,466
- Depreciation -€835
down €835 (-5.5%), from €15,092 to €14,257
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 | €9,577,691 | €9,196,699 | -€380,992 | -4.0% |
| Fixed assets | 21/28 | €4,902,283 | €4,891,807 | -€10,476 | -0.2% |
| Tangible fixed assets | 22/27 | €71,966 | €61,491 | -€10,476 | -14.6% |
| Plant, machinery and equipment | 23 | €2,371 | €3,887 | +€1,516 | +63.9% |
| Furniture and vehicles | 24 | €40,596 | €28,604 | -€11,992 | -29.5% |
| Other tangible fixed assets | 26 | €29,000 | €29,000 | = | 0.0% |
| Financial fixed assets | 28 | €4,830,317 | €4,830,317 | = | 0.0% |
| Current assets | 29/58 | €4,675,408 | €4,304,892 | -€370,516 | -7.9% |
| Amounts receivable after more than one year | 29 | €3,315,296 | €3,063,441 | -€251,855 | -7.6% |
| Other amounts receivable | 291 | €3,315,296 | €3,063,441 | -€251,855 | -7.6% |
| Amounts receivable within one year | 40/41 | €1,255,848 | €1,134,356 | -€121,492 | -9.7% |
| Trade receivables | 40 | €1,000 | €2,739 | +€1,739 | +174% |
| Other amounts receivable | 41 | €1,254,848 | €1,131,617 | -€123,231 | -9.8% |
| Cash at bank and in hand | 54/58 | €18,057 | €3,704 | -€14,353 | -79.5% |
| Deferred charges and accrued income | 490/1 | €86,208 | €103,391 | +€17,184 | +19.9% |
| Total equity and liabilities | 10/49 | €9,577,691 | €9,196,699 | -€380,992 | -4.0% |
| Equity | 10/15 | €5,643,117 | €5,494,454 | -€148,663 | -2.6% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €4,643,117 | €4,496,033 | -€147,085 | -3.2% |
| Distributable reserves | 133 | €4,643,117 | €4,496,033 | -€147,085 | -3.2% |
| Profit (loss) carried forward | 14 | - | -€1,579 | -€1,579 | |
| Amounts payable | 17/49 | €3,934,574 | €3,702,245 | -€232,329 | -5.9% |
| Amounts payable after more than one year | 17 | €26,272 | €16,458 | -€9,814 | -37.4% |
| Financial debts | 170/4 | €26,272 | €16,458 | -€9,814 | -37.4% |
| Amounts payable within one year | 42/48 | €3,908,302 | €3,685,787 | -€222,515 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €16,157 | €16,557 | +€401 | +2.5% |
| Trade debts | 44 | €70,531 | €2,717 | -€67,814 | -96.1% |
| Suppliers | 440/4 | €70,531 | €2,717 | -€67,814 | -96.1% |
| Taxes, remuneration and social security | 45 | €5,506 | €65 | -€5,441 | -98.8% |
| Taxes | 450/3 | €5,506 | €65 | -€5,441 | -98.8% |
| Other amounts payable | 47/48 | €3,816,108 | €3,666,448 | -€149,660 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,092 | €14,257 | -€835 | -5.5% |
| Other operating charges | 640/8 | €2,363 | €2,119 | -€245 | -10.3% |
| Gross operating margin | 9900 | -€46,958 | -€33,627 | +€13,331 | +28.4% |
| Operating profit (loss) | 9901 | -€64,413 | -€50,003 | +€14,410 | +22.4% |
| Financial income | 75/76B | €97,322 | €102,466 | +€5,143 | +5.3% |
| Recurring financial income | 75 | €97,322 | €102,466 | +€5,143 | +5.3% |
| Financial charges | 65/66B | €2,938 | €202,659 | +€199,721 | +6,798% |
| Recurring financial charges | 65 | €2,938 | €2,659 | -€279 | -9.5% |
| Non-recurring financial charges | 66B | - | €200,000 | +€200,000 | |
| Profit (loss) for the period before taxes | 9903 | €29,971 | -€150,196 | -€180,167 | |
| Income taxes | 67/77 | €8,572 | -€1,532 | -€10,104 | |
| Profit (loss) for the period | 9904 | €21,400 | -€148,663 | -€170,063 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,400 | -€148,663 | -€170,063 |
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 26 October 2026 via checked.be.