RUBUS-XL: 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.
RUBUS-XL
Largest movements
- Stocks and contracts +€21,950
up €21,950 (+7.9%), from €278,414 to €300,364
- Tangible fixed assets -€15,819
down €15,819 (-3.9%), from €404,049 to €388,230
of which Other tangible fixed assets: -€8,544
- Reserves +€39,746
up €39,746 (+25.1%), from €158,333 to €198,079
of which Distributable reserves: +€39,746
- Debts after one year -€25,024
down €25,024 (-7.4%), from €339,927 to €314,903
- Tax, wage and social debts -€18,370
down €18,370 (-20.5%), from €89,631 to €71,261
of which Taxes: -€9,370
- Accrued charges and deferred income +€9,625
up €9,625 (+49.5%), from €19,448 to €29,073
- Write-downs -€12,244
down €12,244, from €3,585 to -€8,658
- Gross operating margin -€9,160
down €9,160 (-9.8%), from €93,223 to €84,063
- Other operating charges +€2,182
up €2,182 (+197%), from €1,110 to €3,293
- Financial charges -€1,407
down €1,407 (-9.5%), from €14,751 to €13,344
- Depreciation +€1,136
up €1,136 (+6.4%), from €17,689 to €18,825
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 | €740,923 | €752,601 | +€11,678 | +1.6% |
| Fixed assets | 21/28 | €404,299 | €388,480 | -€15,819 | -3.9% |
| Tangible fixed assets | 22/27 | €404,049 | €388,230 | -€15,819 | -3.9% |
| Land and buildings | 22 | €152,295 | €146,843 | -€5,452 | -3.6% |
| Furniture and vehicles | 24 | €6,811 | €4,988 | -€1,823 | -26.8% |
| Other tangible fixed assets | 26 | €244,943 | €236,399 | -€8,544 | -3.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €336,624 | €364,121 | +€27,497 | +8.2% |
| Stocks and contracts in progress | 3 | €278,414 | €300,364 | +€21,950 | +7.9% |
| Stocks | 30/36 | €278,414 | €300,364 | +€21,950 | +7.9% |
| Amounts receivable within one year | 40/41 | €10,104 | €17,465 | +€7,361 | +72.9% |
| Trade receivables | 40 | €10,036 | €17,339 | +€7,302 | +72.8% |
| Other amounts receivable | 41 | €67 | €126 | +€59 | +88.0% |
| Cash at bank and in hand | 54/58 | €47,705 | €43,591 | -€4,114 | -8.6% |
| Deferred charges and accrued income | 490/1 | €402 | €2,701 | +€2,300 | +573% |
| Total equity and liabilities | 10/49 | €740,923 | €752,601 | +€11,678 | +1.6% |
| Equity | 10/15 | €238,510 | €278,255 | +€39,746 | +16.7% |
| Contributions | 10/11 | €56,600 | €56,600 | = | 0.0% |
| Reserves | 13 | €158,333 | €198,079 | +€39,746 | +25.1% |
| Tax-exempt reserves | 132 | €400 | €400 | = | 0.0% |
| Distributable reserves | 133 | €157,933 | €197,679 | +€39,746 | +25.2% |
| Profit (loss) carried forward | 14 | €23,577 | €23,577 | = | 0.0% |
| Amounts payable | 17/49 | €502,413 | €474,346 | -€28,068 | -5.6% |
| Amounts payable after more than one year | 17 | €339,927 | €314,903 | -€25,024 | -7.4% |
| Financial debts | 170/4 | €339,927 | €314,903 | -€25,024 | -7.4% |
| Amounts payable within one year | 42/48 | €143,038 | €130,370 | -€12,668 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €23,846 | €25,042 | +€1,196 | +5.0% |
| Financial debts | 43 | €14 | €16 | +€2 | +17.4% |
| Credit institutions | 430/8 | €14 | €16 | +€2 | +17.4% |
| Trade debts | 44 | €23,401 | €24,171 | +€769 | +3.3% |
| Suppliers | 440/4 | €23,401 | €24,171 | +€769 | +3.3% |
| Advances received on contracts in progress | 46 | €4,257 | €8,755 | +€4,498 | +106% |
| Taxes, remuneration and social security | 45 | €89,631 | €71,261 | -€18,370 | -20.5% |
| Taxes | 450/3 | €41,631 | €32,261 | -€9,370 | -22.5% |
| Remuneration and social security | 454/9 | €48,000 | €39,000 | -€9,000 | -18.8% |
| Other amounts payable | 47/48 | €1,889 | €1,125 | -€764 | -40.4% |
| Accrued charges and deferred income | 492/3 | €19,448 | €29,073 | +€9,625 | +49.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,689 | €18,825 | +€1,136 | +6.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,585 | -€8,658 | -€12,244 | |
| Other operating charges | 640/8 | €1,110 | €3,293 | +€2,182 | +197% |
| Gross operating margin | 9900 | €93,223 | €84,063 | -€9,160 | -9.8% |
| Operating profit (loss) | 9901 | €70,839 | €70,604 | -€235 | -0.3% |
| Financial income | 75/76B | €1,918 | €2,479 | +€561 | +29.2% |
| Recurring financial income | 75 | €1,918 | €2,479 | +€561 | +29.2% |
| Financial charges | 65/66B | €14,751 | €13,344 | -€1,407 | -9.5% |
| Recurring financial charges | 65 | €14,751 | €13,344 | -€1,407 | -9.5% |
| Profit (loss) for the period before taxes | 9903 | €58,006 | €59,739 | +€1,733 | +3.0% |
| Income taxes | 67/77 | €19,753 | €19,993 | +€240 | +1.2% |
| Profit (loss) for the period | 9904 | €38,253 | €39,746 | +€1,493 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €38,253 | €39,746 | +€1,493 | +3.9% |
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.