SUBCITY: 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.
SUBCITY
Largest movements
- Receivables within one year -€73,797
down €73,797 (-49.2%), from €150,139 to €76,342
of which Trade receivables: -€74,286
- Cash -€46,808
down €46,808 (-35.3%), from €132,708 to €85,899
mainly Investment in fixed assets (net) (-€85,610) and Other debts (-€43,813)
- Tangible fixed assets +€36,647
up €36,647 (+65.6%), from €55,834 to €92,481
of which Furniture and vehicles: +€47,664
- Intangible fixed assets +€6,833
new in 2025: €6,833
- Deferred charges and accrued income +€6,228
up €6,228 (+70.1%), from €8,887 to €15,115
- Other debts -€43,813
down €43,813 (-20.8%), from €210,770 to €166,957
- Trade debts -€22,690
down €22,690 (-95.6%), from €23,738 to €1,048
- Profit (loss) carried forward +€18,540
up €18,540 (+54.8%), from €33,822 to €52,362
- Tax, wage and social debts -€16,093
down €16,093 (-33.9%), from €47,425 to €31,332
of which Taxes: -€17,438
- Debts after one year -€4,741
no longer reported in 2025 (was €4,741)
- Gross operating margin -€96,030
down €96,030 (-54.3%), from €176,947 to €80,917
- Taxes -€18,249
down €18,249 (-54.9%), from €33,252 to €15,004
- Depreciation +€9,873
up €9,873 (+30.6%), from €32,257 to €42,130
- Other operating charges +€1,840
up €1,840 (+110%), from €1,671 to €3,511
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 | €347,743 | €276,845 | -€70,898 | -20.4% |
| Fixed assets | 21/28 | €56,009 | €99,489 | +€43,480 | +77.6% |
| Intangible fixed assets | 21 | - | €6,833 | +€6,833 | |
| Tangible fixed assets | 22/27 | €55,834 | €92,481 | +€36,647 | +65.6% |
| Plant, machinery and equipment | 23 | €21,426 | €15,889 | -€5,537 | -25.8% |
| Furniture and vehicles | 24 | €16,363 | €64,027 | +€47,664 | +291% |
| Leasing and similar rights | 25 | €11,250 | €4,804 | -€6,446 | -57.3% |
| Other tangible fixed assets | 26 | €6,795 | €7,761 | +€966 | +14.2% |
| Financial fixed assets | 28 | €176 | €176 | = | 0.0% |
| Current assets | 29/58 | €291,734 | €177,356 | -€114,377 | -39.2% |
| Amounts receivable within one year | 40/41 | €150,139 | €76,342 | -€73,797 | -49.2% |
| Trade receivables | 40 | €148,309 | €74,023 | -€74,286 | -50.1% |
| Other amounts receivable | 41 | €1,830 | €2,319 | +€489 | +26.7% |
| Cash at bank and in hand | 54/58 | €132,708 | €85,899 | -€46,808 | -35.3% |
| Deferred charges and accrued income | 490/1 | €8,887 | €15,115 | +€6,228 | +70.1% |
| Total equity and liabilities | 10/49 | €347,743 | €276,845 | -€70,898 | -20.4% |
| Equity | 10/15 | €54,227 | €72,767 | +€18,540 | +34.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €33,822 | €52,362 | +€18,540 | +54.8% |
| Amounts payable | 17/49 | €293,515 | €204,078 | -€89,438 | -30.5% |
| Amounts payable after more than one year | 17 | €4,741 | - | -€4,741 | |
| Financial debts | 170/4 | €4,741 | - | -€4,741 | |
| Amounts payable within one year | 42/48 | €288,775 | €204,078 | -€84,697 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €6,842 | €4,741 | -€2,101 | -30.7% |
| Trade debts | 44 | €23,738 | €1,048 | -€22,690 | -95.6% |
| Suppliers | 440/4 | €23,738 | €1,048 | -€22,690 | -95.6% |
| Taxes, remuneration and social security | 45 | €47,425 | €31,332 | -€16,093 | -33.9% |
| Taxes | 450/3 | €45,470 | €28,032 | -€17,438 | -38.4% |
| Remuneration and social security | 454/9 | €1,955 | €3,300 | +€1,346 | +68.8% |
| Other amounts payable | 47/48 | €210,770 | €166,957 | -€43,813 | -20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,257 | €42,130 | +€9,873 | +30.6% |
| Other operating charges | 640/8 | €1,671 | €3,511 | +€1,840 | +110% |
| Non-recurring operating charges | 66A | €356 | €1,224 | +€868 | +244% |
| Gross operating margin | 9900 | €176,947 | €80,917 | -€96,030 | -54.3% |
| Operating profit (loss) | 9901 | €142,663 | €34,052 | -€108,611 | -76.1% |
| Financial income | 75/76B | €744 | €152 | -€591 | -79.5% |
| Recurring financial income | 75 | €744 | €152 | -€591 | -79.5% |
| Financial charges | 65/66B | €984 | €661 | -€323 | -32.8% |
| Recurring financial charges | 65 | €984 | €661 | -€323 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €142,423 | €33,544 | -€108,879 | -76.4% |
| Income taxes | 67/77 | €33,252 | €15,004 | -€18,249 | -54.9% |
| Profit (loss) for the period | 9904 | €109,170 | €18,540 | -€90,631 | -83.0% |
| Profit (loss) for the period to be appropriated | 9905 | €109,170 | €18,540 | -€90,631 | -83.0% |
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 14 October 2026 via checked.be.