RUBLO: 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.
RUBLO
Largest movements
- Cash -€194,866
down €194,866 (-95.2%), from €204,686 to €9,820
mainly Current investments (-€131,299) and Contributions, distributions and other (-€62,211)
- Current investments +€131,299
up €131,299, from €0 to €131,299
- Tangible fixed assets +€56,588
up €56,588 (+10534.5%), from €537 to €57,125
of which Furniture and vehicles: +€55,038
- Other debts -€8,069
down €8,069 (-100.0%), from €8,069 to €0
- Reserves +€4,381
up €4,381 (+2.3%), from €194,233 to €198,614
- Tax, wage and social debts -€2,618
down €2,618 (-36.4%), from €7,183 to €4,565
- Gross operating margin +€12,838
up €12,838 (+16.5%), from €77,716 to €90,554
- Taxes +€7,223
up €7,223 (+43.6%), from €16,560 to €23,783
- Financial income -€1,753
down €1,753 (-43.9%), from €3,997 to €2,244
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.
Cash bridge derived
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 | €214,830 | €208,965 | -€5,865 | -2.7% |
| Fixed assets | 21/28 | €537 | €57,125 | +€56,588 | +10534.5% |
| Tangible fixed assets | 22/27 | €537 | €57,125 | +€56,588 | +10534.5% |
| Furniture and vehicles | 24 | €12 | €55,050 | +€55,038 | +446370.8% |
| Other tangible fixed assets | 26 | €525 | €2,076 | +€1,551 | +295.5% |
| Current assets | 29/58 | €214,293 | €151,840 | -€62,453 | -29.1% |
| Amounts receivable within one year | 40/41 | €9,455 | €9,437 | -€17 | -0.2% |
| Trade receivables | 40 | €9,438 | €9,378 | -€60 | -0.6% |
| Other amounts receivable | 41 | €17 | €59 | +€43 | +251.5% |
| Current investments | 50/53 | €0 | €131,299 | +€131,299 | |
| Cash at bank and in hand | 54/58 | €204,686 | €9,820 | -€194,866 | -95.2% |
| Deferred charges and accrued income | 490/1 | €152 | €1,283 | +€1,132 | +747.0% |
| Total equity and liabilities | 10/49 | €214,830 | €208,965 | -€5,865 | -2.7% |
| Equity | 10/15 | €199,233 | €203,614 | +€4,381 | +2.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €194,233 | €198,614 | +€4,381 | +2.3% |
| Distributable reserves | 133 | €194,233 | €198,614 | +€4,381 | +2.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €15,597 | €5,351 | -€10,246 | -65.7% |
| Amounts payable within one year | 42/48 | €15,597 | €5,351 | -€10,246 | -65.7% |
| Trade debts | 44 | €346 | €786 | +€440 | +127.3% |
| Suppliers | 440/4 | €346 | €786 | +€440 | +127.3% |
| Taxes, remuneration and social security | 45 | €7,183 | €4,565 | -€2,618 | -36.4% |
| Taxes | 450/3 | €7,183 | €4,565 | -€2,618 | -36.4% |
| Other amounts payable | 47/48 | €8,069 | €0 | -€8,069 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,090 | €900 | -€190 | -17.4% |
| Other operating charges | 640/8 | €1,068 | €1,041 | -€27 | -2.5% |
| Gross operating margin | 9900 | €77,716 | €90,554 | +€12,838 | +16.5% |
| Operating profit (loss) | 9901 | €75,558 | €88,613 | +€13,055 | +17.3% |
| Financial income | 75/76B | €3,997 | €2,244 | -€1,753 | -43.9% |
| Recurring financial income | 75 | €3,997 | €2,244 | -€1,753 | -43.9% |
| Financial charges | 65/66B | €784 | €482 | -€303 | -38.6% |
| Recurring financial charges | 65 | €784 | €482 | -€303 | -38.6% |
| Profit (loss) for the period before taxes | 9903 | €78,771 | €90,375 | +€11,604 | +14.7% |
| Income taxes | 67/77 | €16,560 | €23,783 | +€7,223 | +43.6% |
| Profit (loss) for the period | 9904 | €62,211 | €66,592 | +€4,381 | +7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €62,211 | €66,592 | +€4,381 | +7.0% |
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 9 October 2026 via checked.be.