SUBLIEM: 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.
SUBLIEM
Largest movements
- Tangible fixed assets -€9,496
down €9,496 (-6.4%), from €148,952 to €139,455
- Cash -€5,347
down €5,347 (-95.0%), from €5,630 to €283
mainly Net result for the year (-€9,991) and Debts after one year (-€3,360)
- Reserves -€9,991
down €9,991 (-17.1%), from €58,483 to €48,492
- Other debts +€4,032
up €4,032 (+8.1%), from €49,938 to €53,970
- Debts after one year -€3,360
no longer reported in 2025 (was €3,360)
- Current portion of long-term debt -€2,774
down €2,774 (-45.2%), from €6,134 to €3,360
- Trade debts -€1,982
no longer reported in 2025 (was €1,982)
- Gross operating margin -€21,199
down €21,199 (-91.9%), from €23,058 to €1,859
- Taxes -€929
down €929 (-84.1%), from €1,105 to €176
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 | €154,741 | €139,739 | -€15,003 | -9.7% |
| Fixed assets | 21/28 | €148,952 | €139,455 | -€9,496 | -6.4% |
| Tangible fixed assets | 22/27 | €148,952 | €139,455 | -€9,496 | -6.4% |
| Land and buildings | 22 | €148,952 | €139,455 | -€9,496 | -6.4% |
| Current assets | 29/58 | €5,790 | €283 | -€5,506 | -95.1% |
| Cash at bank and in hand | 54/58 | €5,630 | €283 | -€5,347 | -95.0% |
| Deferred charges and accrued income | 490/1 | €159 | - | -€159 | |
| Total equity and liabilities | 10/49 | €154,741 | €139,739 | -€15,003 | -9.7% |
| Equity | 10/15 | €92,223 | €82,232 | -€9,991 | -10.8% |
| Contributions | 10/11 | €33,740 | €33,740 | = | 0.0% |
| Reserves | 13 | €58,483 | €48,492 | -€9,991 | -17.1% |
| Distributable reserves | 133 | €58,483 | €48,492 | -€9,991 | -17.1% |
| Amounts payable | 17/49 | €62,519 | €57,506 | -€5,012 | -8.0% |
| Amounts payable after more than one year | 17 | €3,360 | - | -€3,360 | |
| Financial debts | 170/4 | €3,360 | - | -€3,360 | |
| Amounts payable within one year | 42/48 | €59,159 | €57,506 | -€1,652 | -2.8% |
| Current portion of amounts payable after more than one year | 42 | €6,134 | €3,360 | -€2,774 | -45.2% |
| Trade debts | 44 | €1,982 | - | -€1,982 | |
| Suppliers | 440/4 | €1,982 | - | -€1,982 | |
| Taxes, remuneration and social security | 45 | €1,105 | €176 | -€929 | -84.1% |
| Taxes | 450/3 | €1,105 | €176 | -€929 | -84.1% |
| Other amounts payable | 47/48 | €49,938 | €53,970 | +€4,032 | +8.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,659 | €9,496 | -€163 | -1.7% |
| Other operating charges | 640/8 | €1,889 | €2,029 | +€140 | +7.4% |
| Gross operating margin | 9900 | €23,058 | €1,859 | -€21,199 | -91.9% |
| Operating profit (loss) | 9901 | €11,509 | -€9,667 | -€21,176 | |
| Financial charges | 65/66B | €240 | €147 | -€93 | -38.7% |
| Recurring financial charges | 65 | €240 | €147 | -€93 | -38.7% |
| Profit (loss) for the period before taxes | 9903 | €11,269 | -€9,814 | -€21,083 | |
| Income taxes | 67/77 | €1,105 | €176 | -€929 | -84.1% |
| Profit (loss) for the period | 9904 | €10,164 | -€9,991 | -€20,154 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,164 | -€9,991 | -€20,154 |
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 7 October 2026 via checked.be.