RURBISC: 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.
RURBISC
Largest movements
- Current investments +€5.0m
new in 2025: €5.0m
- Cash -€2.9m
down €2.9m (-62.5%), from €4.6m to €1.7m
mainly Current investments (-€5.0m) and Contributions, distributions and other (-€4.3m)
- Receivables within one year +€518,003
up €518,003 (+38.4%), from €1.3m to €1.9m
of which Other amounts receivable: +€565,853
- Other debts +€2.6m
up €2.6m (+54.5%), from €4.8m to €7.3m
- Short-term financial debts +€167,438
up €167,438 (+33.0%), from €506,739 to €674,176
- Trade debts -€140,721
down €140,721 (-22.5%), from €624,064 to €483,343
- Gross operating margin -€606,850
down €606,850 (-9.5%), from €6.4m to €5.8m
- Taxes -€199,039
down €199,039 (-12.7%), from €1.6m to €1.4m
- Financial charges +€73,300
up €73,300 (+217.7%), from €33,669 to €106,969
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 | €5,984,948 | €8,601,476 | +€2.6m | +43.7% |
| Fixed assets | 21/28 | €7,628 | €0 | -€7,628 | -100.0% |
| Tangible fixed assets | 22/27 | €7,628 | €0 | -€7,628 | -100.0% |
| Furniture and vehicles | 24 | €7,628 | €0 | -€7,628 | -100.0% |
| Current assets | 29/58 | €5,977,319 | €8,601,476 | +€2.6m | +43.9% |
| Amounts receivable within one year | 40/41 | €1,348,211 | €1,866,214 | +€518,003 | +38.4% |
| Trade receivables | 40 | €755,131 | €707,281 | -€47,850 | -6.3% |
| Other amounts receivable | 41 | €593,080 | €1,158,933 | +€565,853 | +95.4% |
| Current investments | 50/53 | - | €5,000,000 | +€5.0m | |
| Cash at bank and in hand | 54/58 | €4,629,108 | €1,735,262 | -€2.9m | -62.5% |
| Total equity and liabilities | 10/49 | €5,984,948 | €8,601,476 | +€2.6m | +43.7% |
| Equity | 10/15 | €88,370 | €82,500 | -€5,870 | -6.6% |
| 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 | €7,500 | €7,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,870 | €0 | -€5,870 | -100.0% |
| Amounts payable | 17/49 | €5,896,578 | €8,518,976 | +€2.6m | +44.5% |
| Amounts payable within one year | 42/48 | €5,896,578 | €8,518,976 | +€2.6m | +44.5% |
| Financial debts | 43 | €506,739 | €674,176 | +€167,438 | +33.0% |
| Credit institutions | 430/8 | €506,739 | €674,176 | +€167,438 | +33.0% |
| Trade debts | 44 | €624,064 | €483,343 | -€140,721 | -22.5% |
| Suppliers | 440/4 | €624,064 | €483,343 | -€140,721 | -22.5% |
| Taxes, remuneration and social security | 45 | €15,775 | €24,717 | +€8,941 | +56.7% |
| Taxes | 450/3 | - | €12 | +€12 | |
| Remuneration and social security | 454/9 | €15,775 | €24,704 | +€8,929 | +56.6% |
| Other amounts payable | 47/48 | €4,750,000 | €7,336,740 | +€2.6m | +54.5% |
| Non-recurring operating income | 76A | €924,648 | €1,940 | -€922,708 | -99.8% |
| Remuneration, social security and pensions | 62 | €67,761 | €80,072 | +€12,311 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,749 | €7,628 | -€5,120 | -40.2% |
| Other operating charges | 640/8 | €3,435 | €4,852 | +€1,417 | +41.3% |
| Non-recurring operating charges | 66A | €1 | €0 | -€1 | -100.0% |
| Gross operating margin | 9900 | €6,374,232 | €5,767,382 | -€606,850 | -9.5% |
| Operating profit (loss) | 9901 | €6,290,286 | €5,674,830 | -€615,456 | -9.8% |
| Financial income | 75/76B | €26,773 | €59,205 | +€32,433 | +121.1% |
| Recurring financial income | 75 | €26,773 | €59,205 | +€32,433 | +121.1% |
| Financial charges | 65/66B | €33,669 | €106,969 | +€73,300 | +217.7% |
| Recurring financial charges | 65 | €33,669 | €106,969 | +€73,300 | +217.7% |
| Profit (loss) for the period before taxes | 9903 | €6,283,390 | €5,627,067 | -€656,324 | -10.4% |
| Income taxes | 67/77 | €1,563,947 | €1,364,908 | -€199,039 | -12.7% |
| Profit (loss) for the period | 9904 | €4,719,443 | €4,262,159 | -€457,285 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,719,443 | €4,262,159 | -€457,285 | -9.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.