Subaro: 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.
Subaro
Largest movements
- Tangible fixed assets -€9,749
down €9,749 (-20.5%), from €47,624 to €37,875
of which Furniture and vehicles: -€6,775
- Cash -€6,677
down €6,677 (-61.1%), from €10,933 to €4,256
mainly Net result for the year (-€16,330) and Other debts (-€9,327)
- Profit (loss) carried forward -€16,330
down €16,330 (-22.3%), from -€73,251 to -€89,581
- Other debts -€9,327
down €9,327 (-12.4%), from €75,010 to €65,683
- Tax, wage and social debts +€7,183
up €7,183 (+37.7%), from €19,070 to €26,253
of which Remuneration and social security: +€6,692
- Trade debts +€2,412
up €2,412 (+44.4%), from €5,432 to €7,844
- Gross operating margin +€13,361
up €13,361 (+92.4%), from €14,460 to €27,820
- Financial income +€5,358
up €5,358 (+331.6%), from €1,616 to €6,974
- Depreciation -€2,328
down €2,328 (-19.3%), from €12,077 to €9,749
- Other operating charges -€584
down €584 (-12.9%), from €4,519 to €3,935
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 | €68,021 | €51,959 | -€16,062 | -23.6% |
| Fixed assets | 21/28 | €49,170 | €39,421 | -€9,749 | -19.8% |
| Tangible fixed assets | 22/27 | €47,624 | €37,875 | -€9,749 | -20.5% |
| Land and buildings | 22 | €15,812 | €12,838 | -€2,974 | -18.8% |
| Furniture and vehicles | 24 | €31,812 | €25,037 | -€6,775 | -21.3% |
| Financial fixed assets | 28 | €1,546 | €1,546 | = | 0.0% |
| Current assets | 29/58 | €18,851 | €12,538 | -€6,313 | -33.5% |
| Stocks and contracts in progress | 3 | €7,305 | €7,624 | +€319 | +4.4% |
| Stocks | 30/36 | €7,305 | €7,624 | +€319 | +4.4% |
| Amounts receivable within one year | 40/41 | €614 | €659 | +€45 | +7.3% |
| Trade receivables | 40 | - | €84 | +€84 | |
| Other amounts receivable | 41 | €614 | €575 | -€39 | -6.3% |
| Cash at bank and in hand | 54/58 | €10,933 | €4,256 | -€6,677 | -61.1% |
| Total equity and liabilities | 10/49 | €68,021 | €51,959 | -€16,062 | -23.6% |
| Equity | 10/15 | -€31,491 | -€47,821 | -€16,330 | -51.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,159 | €23,159 | = | 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% |
| Distributable reserves | 133 | €21,299 | €21,299 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€73,251 | -€89,581 | -€16,330 | -22.3% |
| Amounts payable | 17/49 | €99,512 | €99,780 | +€268 | +0.3% |
| Amounts payable within one year | 42/48 | €99,512 | €99,780 | +€268 | +0.3% |
| Trade debts | 44 | €5,432 | €7,844 | +€2,412 | +44.4% |
| Suppliers | 440/4 | €5,432 | €7,844 | +€2,412 | +44.4% |
| Taxes, remuneration and social security | 45 | €19,070 | €26,253 | +€7,183 | +37.7% |
| Taxes | 450/3 | €16,700 | €17,190 | +€490 | +2.9% |
| Remuneration and social security | 454/9 | €2,371 | €9,063 | +€6,692 | +282.3% |
| Other amounts payable | 47/48 | €75,010 | €65,683 | -€9,327 | -12.4% |
| Remuneration, social security and pensions | 62 | €36,637 | €36,760 | +€123 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,077 | €9,749 | -€2,328 | -19.3% |
| Other operating charges | 640/8 | €4,519 | €3,935 | -€584 | -12.9% |
| Gross operating margin | 9900 | €14,460 | €27,820 | +€13,361 | +92.4% |
| Operating profit (loss) | 9901 | -€38,773 | -€22,624 | +€16,149 | +41.7% |
| Financial income | 75/76B | €1,616 | €6,974 | +€5,358 | +331.6% |
| Recurring financial income | 75 | €1,616 | €6,974 | +€5,358 | +331.6% |
| Financial charges | 65/66B | €187 | €319 | +€132 | +70.4% |
| Recurring financial charges | 65 | €187 | €319 | +€132 | +70.4% |
| Profit (loss) for the period before taxes | 9903 | -€37,344 | -€15,969 | +€21,375 | +57.2% |
| Income taxes | 67/77 | €200 | €361 | +€161 | +80.5% |
| Profit (loss) for the period | 9904 | -€37,544 | -€16,330 | +€21,214 | +56.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,544 | -€16,330 | +€21,214 | +56.5% |
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 10 October 2026 via checked.be.