RUBUS: what changed
What changed
RUBUS
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€597,875
2024 · €62,965+€534,910
Equity
€2.5m
2024 · €1.9m+€597,875
Cash
€223,066
2024 · €623,203-€400,138
Balance sheet total
€6.9m
2024 · €7.0m-€124,345
Largest movements
Assets
- Cash -€400,138
down €400,138 (-64.2%), from €623,203 to €223,066
mainly Other debts (-€2.0m) and Accrued charges and deferred income (-€224,646)
- Receivables within one year +€214,971
up €214,971 (+38.7%), from €555,917 to €770,888
of which Other amounts receivable: +€212,102
Equity and liabilities
- Other debts -€2.0m
down €2.0m (-98.5%), from €2.0m to €31,365
- Debts after one year +€1.5m
up €1.5m (+54.5%), from €2.8m to €4.3m
- Profit (loss) carried forward +€597,875
up €597,875 (+149%), from €402,093 to €999,969
- Accrued charges and deferred income -€224,646
down €224,646 (-76.7%), from €292,759 to €68,112
Income statement
- Financial income +€517,260
up €517,260 (+466%), from €110,998 to €628,258
- Gross operating margin +€53,811
up €53,811 (+68.8%), from €78,179 to €131,990
- Taxes +€22,982
up €22,982 (+7,594%), from €303 to €23,285
- Financial charges +€14,099
up €14,099 (+11.4%), from €123,879 to €137,978
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.
Result 2024
€62,965
Gross operating margin
+€53,811
Other operating charges
+€921
Financial income
+€517,260
Financial charges
-€14,099
Taxes
-€22,982
Result 2025
€597,875
raises the resultlowers the result
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.
From operations
-€1.8m
Investment
-€68,951
Financing
+€1.5m
Cash 2024
€623,203
From operations (derived)
-€1.8m
Net result for the year
+€597,875
Depreciation
+€1,062
Receivables within one year
-€214,971
Deferred charges and accrued income
+€7,067
Smaller working-capital items
+€3,556
Other debts
-€2.0m
Accrued charges and deferred income
-€224,646
Investment (derived)
-€68,951
Investment in fixed assets (net)
-€1,534
Current investments
-€67,416
Financing
+€1.5m
Debts after one year
+€1.5m
Cash 2025
€223,066
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,013,926 | €6,889,581 | -€124,345 | -1.8% |
| Fixed assets | 21/28 | €2,753,887 | €2,754,359 | +€472 | 0.0% |
| Tangible fixed assets | 22/27 | €3,887 | €4,359 | +€472 | +12.1% |
| Furniture and vehicles | 24 | €3,887 | €4,359 | +€472 | +12.1% |
| Financial fixed assets | 28 | €2,750,000 | €2,750,000 | = | 0.0% |
| Current assets | 29/58 | €4,260,039 | €4,135,222 | -€124,817 | -2.9% |
| Amounts receivable within one year | 40/41 | €555,917 | €770,888 | +€214,971 | +38.7% |
| Trade receivables | 40 | €21,220 | €24,089 | +€2,869 | +13.5% |
| Other amounts receivable | 41 | €534,697 | €746,799 | +€212,102 | +39.7% |
| Current investments | 50/53 | €2,983,480 | €3,050,896 | +€67,416 | +2.3% |
| Cash at bank and in hand | 54/58 | €623,203 | €223,066 | -€400,138 | -64.2% |
| Deferred charges and accrued income | 490/1 | €97,438 | €90,371 | -€7,067 | -7.3% |
| Total equity and liabilities | 10/49 | €7,013,926 | €6,889,581 | -€124,345 | -1.8% |
| Equity | 10/15 | €1,926,588 | €2,524,464 | +€597,875 | +31.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €1,462,995 | €1,462,995 | = | 0.0% |
| Non-distributable reserves | 130/1 | €204,995 | €204,995 | = | 0.0% |
| Legal reserve | 130 | €204,995 | €204,995 | = | 0.0% |
| Distributable reserves | 133 | €1,258,000 | €1,258,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €402,093 | €999,969 | +€597,875 | +149% |
| Amounts payable | 17/49 | €5,087,338 | €4,365,117 | -€722,221 | -14.2% |
| Amounts payable after more than one year | 17 | €2,750,000 | €4,250,000 | +€1.5m | +54.5% |
| Financial debts | 170/4 | €2,750,000 | €4,250,000 | +€1.5m | +54.5% |
| Amounts payable within one year | 42/48 | €2,044,579 | €47,005 | -€2.0m | -97.7% |
| Trade debts | 44 | €5,357 | €6,380 | +€1,023 | +19.1% |
| Suppliers | 440/4 | €5,357 | €6,380 | +€1,023 | +19.1% |
| Taxes, remuneration and social security | 45 | €6,726 | €9,259 | +€2,533 | +37.7% |
| Taxes | 450/3 | €6,726 | €9,259 | +€2,533 | +37.7% |
| Other amounts payable | 47/48 | €2,032,496 | €31,365 | -€2.0m | -98.5% |
| Accrued charges and deferred income | 492/3 | €292,759 | €68,112 | -€224,646 | -76.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,062 | €1,062 | = | 0.0% |
| Other operating charges | 640/8 | €968 | €47 | -€921 | -95.1% |
| Gross operating margin | 9900 | €78,179 | €131,990 | +€53,811 | +68.8% |
| Operating profit (loss) | 9901 | €76,149 | €130,880 | +€54,731 | +71.9% |
| Financial income | 75/76B | €110,998 | €628,258 | +€517,260 | +466% |
| Recurring financial income | 75 | €110,998 | €628,258 | +€517,260 | +466% |
| Financial charges | 65/66B | €123,879 | €137,978 | +€14,099 | +11.4% |
| Recurring financial charges | 65 | €123,879 | €137,978 | +€14,099 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €63,268 | €621,161 | +€557,893 | +882% |
| Income taxes | 67/77 | €303 | €23,285 | +€22,982 | +7,594% |
| Profit (loss) for the period | 9904 | €62,965 | €597,875 | +€534,910 | +850% |
| Profit (loss) for the period to be appropriated | 9905 | €62,965 | €597,875 | +€534,910 | +850% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
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 5 November 2026 via checked.be.