Rubilon: 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.
Rubilon
Largest movements
- Tangible fixed assets -€9,498
down €9,498 (-36.1%), from €26,303 to €16,806
- Deferred charges and accrued income -€9,104
no longer reported in 2025 (was €9,104)
- Receivables within one year +€8,532
up €8,532 (+31.5%), from €27,087 to €35,619
of which Trade receivables: +€6,325
- Cash +€1,176
new in 2025: €1,176
mainly Deferred charges and accrued income (+€9,104) and Depreciation (+€8,989)
- Tax, wage and social debts -€10,163
down €10,163 (-92.9%), from €10,941 to €778
- Trade debts +€3,950
up €3,950 (+90.6%), from €4,362 to €8,312
- Profit (loss) carried forward -€1,478
new in 2025: -€1,478
- Other debts -€1,203
no longer reported in 2025 (was €1,203)
- Gross operating margin -€32,312
down €32,312 (-77.0%), from €41,968 to €9,656
- Taxes -€9,162
down €9,162 (-90.9%), from €10,081 to €919
- Other operating charges -€812
down €812 (-35.3%), from €2,297 to €1,486
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 | €62,494 | €53,600 | -€8,894 | -14.2% |
| Fixed assets | 21/28 | €26,303 | €16,806 | -€9,498 | -36.1% |
| Tangible fixed assets | 22/27 | €26,303 | €16,806 | -€9,498 | -36.1% |
| Furniture and vehicles | 24 | €26,303 | €16,806 | -€9,498 | -36.1% |
| Current assets | 29/58 | €36,191 | €36,795 | +€604 | +1.7% |
| Amounts receivable within one year | 40/41 | €27,087 | €35,619 | +€8,532 | +31.5% |
| Trade receivables | 40 | - | €6,325 | +€6,325 | |
| Other amounts receivable | 41 | €27,087 | €29,294 | +€2,207 | +8.1% |
| Cash at bank and in hand | 54/58 | - | €1,176 | +€1,176 | |
| Deferred charges and accrued income | 490/1 | €9,104 | - | -€9,104 | |
| Total equity and liabilities | 10/49 | €62,494 | €53,600 | -€8,894 | -14.2% |
| Equity | 10/15 | €45,989 | €44,511 | -€1,478 | -3.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,389 | €27,389 | = | 0.0% |
| Distributable reserves | 133 | €27,389 | €27,389 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€1,478 | -€1,478 | |
| Amounts payable | 17/49 | €16,505 | €9,089 | -€7,416 | -44.9% |
| Amounts payable within one year | 42/48 | €16,505 | €9,089 | -€7,416 | -44.9% |
| Trade debts | 44 | €4,362 | €8,312 | +€3,950 | +90.6% |
| Suppliers | 440/4 | €4,362 | €8,312 | +€3,950 | +90.6% |
| Taxes, remuneration and social security | 45 | €10,941 | €778 | -€10,163 | -92.9% |
| Taxes | 450/3 | €10,941 | €778 | -€10,163 | -92.9% |
| Other amounts payable | 47/48 | €1,203 | - | -€1,203 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,631 | €8,989 | +€358 | +4.2% |
| Other operating charges | 640/8 | €2,297 | €1,486 | -€812 | -35.3% |
| Non-recurring operating charges | 66A | - | €860 | +€860 | |
| Gross operating margin | 9900 | €41,968 | €9,656 | -€32,312 | -77.0% |
| Operating profit (loss) | 9901 | €31,039 | -€1,679 | -€32,718 | |
| Financial income | 75/76B | €802 | €1,166 | +€364 | +45.4% |
| Recurring financial income | 75 | €802 | €1,166 | +€364 | +45.4% |
| Financial charges | 65/66B | €75 | €46 | -€28 | -37.9% |
| Recurring financial charges | 65 | €75 | €46 | -€28 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €31,767 | -€559 | -€32,326 | |
| Income taxes | 67/77 | €10,081 | €919 | -€9,162 | -90.9% |
| Profit (loss) for the period | 9904 | €21,686 | -€1,478 | -€23,164 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,686 | -€1,478 | -€23,164 |
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.