RUBY: what changed
Two fiscal 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.
RUBY
Largest movements
- Current investments -€1.0m
down €1.0m (-50.0%), from €2.0m to €1.0m
- Cash -€831,251
down €831,251 (-61.0%), from €1.4m to €531,823
mainly Contributions, distributions and other (-€5.2m) and Other debts (-€974,181)
- Receivables within one year -€571,191
down €571,191 (-82.4%), from €693,254 to €122,063
of which Other amounts receivable: -€570,687
- Tangible fixed assets -€230,143
down €230,143 (-6.1%), from €3.7m to €3.5m
- Stocks and contracts +€105,618
up €105,618 (+14.1%), from €751,634 to €857,252
- Reserves -€1.3m
down €1.3m (-35.1%), from €3.7m to €2.4m
of which Distributable reserves: -€1.3m
- Other debts -€974,181
down €974,181 (-30.8%), from €3.2m to €2.2m
- Debts after one year -€355,272
down €355,272 (-100.0%), from €355,272 to €0
- Short-term financial debts +€302,735
new in 2025: €302,735
- Trade debts -€106,203
down €106,203 (-14.1%), from €755,309 to €649,106
- Gross operating margin +€604,764
up €604,764 (+7.5%), from €8.1m to €8.7m
- Staff costs +€138,843
up €138,843 (+4.6%), from €3.0m to €3.2m
- Taxes +€127,217
up €127,217 (+11.4%), from €1.1m to €1.2m
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 | €8,595,668 | €6,093,428 | -€2.5m | -29.1% |
| Fixed assets | 21/28 | €3,749,759 | €3,519,616 | -€230,143 | -6.1% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €3,749,759 | €3,519,616 | -€230,143 | -6.1% |
| Land and buildings | 22 | €2,865,497 | €2,753,305 | -€112,192 | -3.9% |
| Plant, machinery and equipment | 23 | €145,950 | €151,451 | +€5,501 | +3.8% |
| Furniture and vehicles | 24 | €282,792 | €245,253 | -€37,539 | -13.3% |
| Other tangible fixed assets | 26 | €455,520 | €369,607 | -€85,913 | -18.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €4,845,909 | €2,573,812 | -€2.3m | -46.9% |
| Stocks and contracts in progress | 3 | €751,634 | €857,252 | +€105,618 | +14.1% |
| Stocks | 30/36 | €751,634 | €857,252 | +€105,618 | +14.1% |
| Amounts receivable within one year | 40/41 | €693,254 | €122,063 | -€571,191 | -82.4% |
| Trade receivables | 40 | €9,205 | €8,701 | -€504 | -5.5% |
| Other amounts receivable | 41 | €684,049 | €113,362 | -€570,687 | -83.4% |
| Current investments | 50/53 | €2,000,000 | €1,000,000 | -€1.0m | -50.0% |
| Cash at bank and in hand | 54/58 | €1,363,073 | €531,823 | -€831,251 | -61.0% |
| Deferred charges and accrued income | 490/1 | €37,947 | €62,674 | +€24,727 | +65.2% |
| Total equity and liabilities | 10/49 | €8,595,668 | €6,093,428 | -€2.5m | -29.1% |
| Equity | 10/15 | €3,766,101 | €2,471,543 | -€1.3m | -34.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €3,691,101 | €2,396,543 | -€1.3m | -35.1% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €3,683,601 | €2,389,043 | -€1.3m | -35.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,829,567 | €3,621,885 | -€1.2m | -25.0% |
| Amounts payable after more than one year | 17 | €355,272 | €0 | -€355,272 | -100.0% |
| Financial debts | 170/4 | €355,272 | €0 | -€355,272 | -100.0% |
| Amounts payable within one year | 42/48 | €4,435,166 | €3,586,302 | -€848,864 | -19.1% |
| Current portion of amounts payable after more than one year | 42 | €70,562 | €6,770 | -€63,792 | -90.4% |
| Financial debts | 43 | - | €302,735 | +€302,735 | |
| Credit institutions | 430/8 | - | €302,735 | +€302,735 | |
| Trade debts | 44 | €755,309 | €649,106 | -€106,203 | -14.1% |
| Suppliers | 440/4 | €755,309 | €649,106 | -€106,203 | -14.1% |
| Advances received on contracts in progress | 46 | €15,147 | €24,881 | +€9,734 | +64.3% |
| Taxes, remuneration and social security | 45 | €426,668 | €409,509 | -€17,158 | -4.0% |
| Taxes | 450/3 | €127,715 | €134,513 | +€6,798 | +5.3% |
| Remuneration and social security | 454/9 | €298,953 | €274,996 | -€23,957 | -8.0% |
| Other amounts payable | 47/48 | €3,167,481 | €2,193,300 | -€974,181 | -30.8% |
| Accrued charges and deferred income | 492/3 | €39,129 | €35,583 | -€3,546 | -9.1% |
| Non-recurring operating income | 76A | €0 | €3,244 | +€3,244 | |
| Remuneration, social security and pensions | 62 | €3,046,701 | €3,185,544 | +€138,843 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €361,074 | €372,617 | +€11,543 | +3.2% |
| Other operating charges | 640/8 | €25,493 | €25,878 | +€385 | +1.5% |
| Non-recurring operating charges | 66A | - | €4,058 | +€4,058 | |
| Gross operating margin | 9900 | €8,109,987 | €8,714,750 | +€604,764 | +7.5% |
| Operating profit (loss) | 9901 | €4,676,719 | €5,126,653 | +€449,934 | +9.6% |
| Financial income | 75/76B | €19,508 | €105,816 | +€86,308 | +442.4% |
| Recurring financial income | 75 | €19,508 | €105,816 | +€86,308 | +442.4% |
| Financial charges | 65/66B | €78,683 | €89,469 | +€10,786 | +13.7% |
| Recurring financial charges | 65 | €78,683 | €89,469 | +€10,786 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €4,617,544 | €5,143,001 | +€525,457 | +11.4% |
| Income taxes | 67/77 | €1,118,843 | €1,246,059 | +€127,217 | +11.4% |
| Profit (loss) for the period | 9904 | €3,498,701 | €3,896,941 | +€398,240 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,498,701 | €3,896,941 | +€398,240 | +11.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.