SUBASHI: 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.
SUBASHI
Largest movements
- Cash +€23,925
up €23,925 (+46.3%), from €51,687 to €75,612
mainly Net result for the year (+€26,562) and Depreciation (+€12,459)
- Tangible fixed assets -€12,459
down €12,459 (-27.8%), from €44,785 to €32,326
of which Furniture and vehicles: -€11,793
- Receivables within one year -€7,367
down €7,367 (-15.2%), from €48,561 to €41,194
of which Trade receivables: -€12,557
- Deferred charges and accrued income -€2,313
down €2,313 (-100.0%), from €2,313 to €0
- Profit (loss) carried forward +€26,562
up €26,562 (+34.6%), from €76,854 to €103,416
- Other debts -€16,737
down €16,737 (-99.7%), from €16,790 to €53
- Trade debts -€12,655
down €12,655 (-85.3%), from €14,836 to €2,182
- Tax, wage and social debts +€5,091
up €5,091 (+39.1%), from €13,015 to €18,106
- Gross operating margin +€12,080
up €12,080 (+25.0%), from €48,279 to €60,358
- Taxes +€5,332
up €5,332 (+250.8%), from €2,126 to €7,458
- Staff costs +€3,464
new in 2025: €3,464
- Other operating charges +€1,548
up €1,548 (+17.9%), from €8,655 to €10,203
- Depreciation +€751
up €751 (+6.4%), from €11,708 to €12,459
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 | €156,971 | €158,757 | +€1,786 | +1.1% |
| Fixed assets | 21/28 | €54,410 | €41,951 | -€12,459 | -22.9% |
| Tangible fixed assets | 22/27 | €44,785 | €32,326 | -€12,459 | -27.8% |
| Plant, machinery and equipment | 23 | €1,498 | €832 | -€666 | -44.4% |
| Furniture and vehicles | 24 | €43,287 | €31,494 | -€11,793 | -27.2% |
| Financial fixed assets | 28 | €9,625 | €9,625 | = | 0.0% |
| Current assets | 29/58 | €102,561 | €116,806 | +€14,245 | +13.9% |
| Amounts receivable within one year | 40/41 | €48,561 | €41,194 | -€7,367 | -15.2% |
| Trade receivables | 40 | €48,561 | €36,004 | -€12,557 | -25.9% |
| Other amounts receivable | 41 | - | €5,191 | +€5,191 | |
| Cash at bank and in hand | 54/58 | €51,687 | €75,612 | +€23,925 | +46.3% |
| Deferred charges and accrued income | 490/1 | €2,313 | €0 | -€2,313 | -100.0% |
| Total equity and liabilities | 10/49 | €156,971 | €158,757 | +€1,786 | +1.1% |
| Equity | 10/15 | €111,854 | €138,416 | +€26,562 | +23.7% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Outside capital | 11 | €35,000 | - | -€35,000 | |
| Share premium | 1100/10 | €35,000 | - | -€35,000 | |
| Profit (loss) carried forward | 14 | €76,854 | €103,416 | +€26,562 | +34.6% |
| Amounts payable | 17/49 | €45,116 | €20,341 | -€24,776 | -54.9% |
| Amounts payable within one year | 42/48 | €44,641 | €20,341 | -€24,300 | -54.4% |
| Trade debts | 44 | €14,836 | €2,182 | -€12,655 | -85.3% |
| Suppliers | 440/4 | €14,836 | €2,182 | -€12,655 | -85.3% |
| Taxes, remuneration and social security | 45 | €13,015 | €18,106 | +€5,091 | +39.1% |
| Taxes | 450/3 | €13,015 | €18,106 | +€5,091 | +39.1% |
| Other amounts payable | 47/48 | €16,790 | €53 | -€16,737 | -99.7% |
| Accrued charges and deferred income | 492/3 | €475 | €0 | -€475 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €3,464 | +€3,464 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,708 | €12,459 | +€751 | +6.4% |
| Other operating charges | 640/8 | €8,655 | €10,203 | +€1,548 | +17.9% |
| Non-recurring operating charges | 66A | €20,353 | €0 | -€20,353 | -100.0% |
| Gross operating margin | 9900 | €48,279 | €60,358 | +€12,080 | +25.0% |
| Operating profit (loss) | 9901 | €7,563 | €34,233 | +€26,670 | +352.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €61 | €213 | +€152 | +249.1% |
| Recurring financial charges | 65 | €61 | €213 | +€152 | +249.1% |
| Profit (loss) for the period before taxes | 9903 | €7,502 | €34,020 | +€26,518 | +353.5% |
| Income taxes | 67/77 | €2,126 | €7,458 | +€5,332 | +250.8% |
| Profit (loss) for the period | 9904 | €5,376 | €26,562 | +€21,186 | +394.1% |
| Profit (loss) for the period to be appropriated | 9905 | €5,376 | €26,562 | +€21,186 | +394.1% |
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 8 October 2026 via checked.be.