SUBALIS: 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.
SUBALIS
Largest movements
- Tangible fixed assets -€21,925
down €21,925 (-5.8%), from €377,758 to €355,833
of which Land and buildings: -€21,394
- Receivables within one year +€13,819
up €13,819 (+6.4%), from €215,107 to €228,925
of which Other amounts receivable: +€12,426
- Intangible fixed assets -€8,540
down €8,540 (-36.4%), from €23,467 to €14,927
- Debts after one year -€55,880
down €55,880 (-17.3%), from €323,795 to €267,915
- Profit (loss) carried forward +€33,423
up €33,423 (+15.4%), from €217,651 to €251,074
- Gross operating margin -€17,709
down €17,709 (-19.3%), from €91,846 to €74,137
- Taxes -€4,500
down €4,500 (-27.8%), from €16,159 to €11,659
- Financial income -€4,039
down €4,039 (-21.0%), from €19,265 to €15,226
- Financial charges -€2,790
down €2,790 (-21.8%), from €12,820 to €10,031
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 | €635,966 | €621,027 | -€14,940 | -2.3% |
| Fixed assets | 21/28 | €401,225 | €370,760 | -€30,465 | -7.6% |
| Intangible fixed assets | 21 | €23,467 | €14,927 | -€8,540 | -36.4% |
| Tangible fixed assets | 22/27 | €377,758 | €355,833 | -€21,925 | -5.8% |
| Land and buildings | 22 | €376,947 | €355,553 | -€21,394 | -5.7% |
| Furniture and vehicles | 24 | €811 | €279 | -€531 | -65.6% |
| Current assets | 29/58 | €234,741 | €250,267 | +€15,525 | +6.6% |
| Amounts receivable within one year | 40/41 | €215,107 | €228,925 | +€13,819 | +6.4% |
| Trade receivables | 40 | €12,106 | €13,499 | +€1,393 | +11.5% |
| Other amounts receivable | 41 | €203,000 | €215,426 | +€12,426 | +6.1% |
| Cash at bank and in hand | 54/58 | €9,419 | €10,125 | +€706 | +7.5% |
| Deferred charges and accrued income | 490/1 | €10,215 | €11,217 | +€1,001 | +9.8% |
| Total equity and liabilities | 10/49 | €635,966 | €621,027 | -€14,940 | -2.3% |
| Equity | 10/15 | €238,111 | €271,534 | +€33,423 | +14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €217,651 | €251,074 | +€33,423 | +15.4% |
| Amounts payable | 17/49 | €397,855 | €349,493 | -€48,363 | -12.2% |
| Amounts payable after more than one year | 17 | €323,795 | €267,915 | -€55,880 | -17.3% |
| Financial debts | 170/4 | €323,795 | €267,915 | -€55,880 | -17.3% |
| Amounts payable within one year | 42/48 | €73,372 | €80,972 | +€7,600 | +10.4% |
| Current portion of amounts payable after more than one year | 42 | €64,716 | €67,769 | +€3,053 | +4.7% |
| Trade debts | 44 | €1,633 | €2,731 | +€1,098 | +67.2% |
| Suppliers | 440/4 | €1,633 | €2,731 | +€1,098 | +67.2% |
| Taxes, remuneration and social security | 45 | €7,023 | €10,472 | +€3,449 | +49.1% |
| Taxes | 450/3 | €7,023 | €10,472 | +€3,449 | +49.1% |
| Accrued charges and deferred income | 492/3 | €688 | €606 | -€83 | -12.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,546 | €31,746 | -€799 | -2.5% |
| Other operating charges | 640/8 | €2,427 | €2,504 | +€77 | +3.2% |
| Gross operating margin | 9900 | €91,846 | €74,137 | -€17,709 | -19.3% |
| Operating profit (loss) | 9901 | €56,874 | €39,887 | -€16,987 | -29.9% |
| Financial income | 75/76B | €19,265 | €15,226 | -€4,039 | -21.0% |
| Recurring financial income | 75 | €19,265 | €15,226 | -€4,039 | -21.0% |
| Financial charges | 65/66B | €12,820 | €10,031 | -€2,790 | -21.8% |
| Recurring financial charges | 65 | €12,820 | €10,031 | -€2,790 | -21.8% |
| Profit (loss) for the period before taxes | 9903 | €63,319 | €45,082 | -€18,237 | -28.8% |
| Income taxes | 67/77 | €16,159 | €11,659 | -€4,500 | -27.8% |
| Profit (loss) for the period | 9904 | €47,159 | €33,423 | -€13,737 | -29.1% |
| Profit (loss) for the period to be appropriated | 9905 | €47,159 | €33,423 | -€13,737 | -29.1% |
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 16 October 2026 via checked.be.