RUBO 15: 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.
RUBO 15
Largest movements
- Receivables within one year -€73,531
down €73,531 (-72.3%), from €101,745 to €28,214
of which Other amounts receivable: -€56,976
- Tangible fixed assets -€54,449
down €54,449 (-8.6%), from €630,790 to €576,340
of which Land and buildings: -€31,442
- Cash -€11,050
down €11,050 (-40.7%), from €27,158 to €16,107
mainly Net result for the year (-€72,400) and Debts after one year (-€68,728)
- Profit (loss) carried forward -€72,400
new in 2025: -€72,400
- Debts after one year -€68,728
down €68,728 (-16.3%), from €420,931 to €352,202
- Other debts +€59,521
up €59,521 (+3,573%), from €1,666 to €61,187
- Current portion of long-term debt -€31,167
down €31,167 (-26.2%), from €119,123 to €87,957
- Trade debts -€12,088
down €12,088 (-39.1%), from €30,909 to €18,821
- Financial charges +€149,236
up €149,236 (+677%), from €22,055 to €171,292
- Taxes -€32,730
down €32,730 (-98.8%), from €33,142 to €412
- Other operating charges +€2,944
up €2,944 (+18.7%), from €15,780 to €18,724
- Financial income +€1,837
up €1,837 (+84.8%), from €2,166 to €4,003
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €856,137 | €721,366 | -€134,771 | -15.7% |
| Fixed assets | 21/28 | €633,063 | €577,164 | -€55,899 | -8.8% |
| Intangible fixed assets | 21 | €2,044 | €594 | -€1,450 | -71.0% |
| Tangible fixed assets | 22/27 | €630,790 | €576,340 | -€54,449 | -8.6% |
| Land and buildings | 22 | €534,158 | €502,715 | -€31,442 | -5.9% |
| Plant, machinery and equipment | 23 | €2,627 | €1,739 | -€887 | -33.8% |
| Furniture and vehicles | 24 | €11,518 | €7,916 | -€3,602 | -31.3% |
| Other tangible fixed assets | 26 | €82,487 | €63,970 | -€18,517 | -22.4% |
| Financial fixed assets | 28 | €230 | €230 | = | 0.0% |
| Current assets | 29/58 | €223,074 | €144,202 | -€78,872 | -35.4% |
| Amounts receivable within one year | 40/41 | €101,745 | €28,214 | -€73,531 | -72.3% |
| Trade receivables | 40 | €30,042 | €13,487 | -€16,555 | -55.1% |
| Other amounts receivable | 41 | €71,703 | €14,727 | -€56,976 | -79.5% |
| Cash at bank and in hand | 54/58 | €27,158 | €16,107 | -€11,050 | -40.7% |
| Deferred charges and accrued income | 490/1 | €94,171 | €99,881 | +€5,710 | +6.1% |
| Total equity and liabilities | 10/49 | €856,137 | €721,366 | -€134,771 | -15.7% |
| Equity | 10/15 | €268,656 | €196,256 | -€72,400 | -26.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €262,456 | €262,456 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €260,596 | €260,596 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€72,400 | -€72,400 | |
| Amounts payable | 17/49 | €587,481 | €525,110 | -€62,370 | -10.6% |
| Amounts payable after more than one year | 17 | €420,931 | €352,202 | -€68,728 | -16.3% |
| Financial debts | 170/4 | €420,931 | €352,202 | -€68,728 | -16.3% |
| Amounts payable within one year | 42/48 | €166,550 | €171,366 | +€4,815 | +2.9% |
| Current portion of amounts payable after more than one year | 42 | €119,123 | €87,957 | -€31,167 | -26.2% |
| Financial debts | 43 | €76 | €0 | -€76 | -100% |
| Credit institutions | 430/8 | €76 | €0 | -€76 | -100% |
| Trade debts | 44 | €30,909 | €18,821 | -€12,088 | -39.1% |
| Suppliers | 440/4 | €30,909 | €18,821 | -€12,088 | -39.1% |
| Advances received on contracts in progress | 46 | - | €500 | +€500 | |
| Taxes, remuneration and social security | 45 | €14,776 | €2,901 | -€11,875 | -80.4% |
| Taxes | 450/3 | €14,776 | €2,901 | -€11,875 | -80.4% |
| Other amounts payable | 47/48 | €1,666 | €61,187 | +€59,521 | +3,573% |
| Accrued charges and deferred income | 492/3 | - | €1,542 | +€1,542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,002 | €56,535 | -€467 | -0.8% |
| Other operating charges | 640/8 | €15,780 | €18,724 | +€2,944 | +18.7% |
| Gross operating margin | 9900 | €171,594 | €170,560 | -€1,034 | -0.6% |
| Operating profit (loss) | 9901 | €98,812 | €95,301 | -€3,511 | -3.6% |
| Financial income | 75/76B | €2,166 | €4,003 | +€1,837 | +84.8% |
| Recurring financial income | 75 | €2,166 | €4,003 | +€1,837 | +84.8% |
| Financial charges | 65/66B | €22,055 | €171,292 | +€149,236 | +677% |
| Recurring financial charges | 65 | €22,055 | €171,292 | +€149,236 | +677% |
| Profit (loss) for the period before taxes | 9903 | €78,922 | -€71,988 | -€150,910 | |
| Income taxes | 67/77 | €33,142 | €412 | -€32,730 | -98.8% |
| Profit (loss) for the period | 9904 | €45,780 | -€72,400 | -€118,180 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,780 | -€72,400 | -€118,180 |
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 27 October 2026 via checked.be.