SUBLIEM: 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.
SUBLIEM
Largest movements
- Deferred charges and accrued income -€15,301
down €15,301 (-80.0%), from €19,116 to €3,815
- Cash -€12,785
down €12,785 (-8.3%), from €154,049 to €141,264
mainly Trade debts (-€43,530) and Contributions, distributions and other (-€41,423)
- Tangible fixed assets -€12,499
down €12,499 (-6.7%), from €186,394 to €173,895
- Receivables within one year -€5,660
down €5,660 (-3.1%), from €184,538 to €178,878
of which Other amounts receivable: -€4,130
- Other debts +€45,821
up €45,821 (+426.5%), from €10,744 to €56,564
- Trade debts -€43,530
down €43,530 (-22.2%), from €195,939 to €152,409
- Tax, wage and social debts -€22,422
down €22,422 (-60.3%), from €37,203 to €14,782
of which Remuneration and social security: -€19,774
- Debts after one year -€12,367
down €12,367 (-12.1%), from €102,602 to €90,235
- Reserves -€10,943
down €10,943 (-6.7%), from €163,981 to €153,038
of which Distributable reserves: -€10,943
- Staff costs -€36,614
down €36,614 (-13.6%), from €269,300 to €232,686
- Gross operating margin -€13,274
down €13,274 (-4.1%), from €326,479 to €313,205
- Taxes +€5,954
up €5,954 (+78.5%), from €7,581 to €13,535
- Depreciation +€3,565
up €3,565 (+22.4%), from €15,884 to €19,449
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 | €544,233 | €497,987 | -€46,246 | -8.5% |
| Fixed assets | 21/28 | €186,529 | €174,030 | -€12,499 | -6.7% |
| Tangible fixed assets | 22/27 | €186,394 | €173,895 | -€12,499 | -6.7% |
| Land and buildings | 22 | €161,859 | €155,824 | -€6,034 | -3.7% |
| Plant, machinery and equipment | 23 | €18,290 | €16,125 | -€2,165 | -11.8% |
| Furniture and vehicles | 24 | €6,245 | €1,945 | -€4,300 | -68.9% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €357,704 | €323,957 | -€33,746 | -9.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €184,538 | €178,878 | -€5,660 | -3.1% |
| Trade receivables | 40 | €164,346 | €162,816 | -€1,531 | -0.9% |
| Other amounts receivable | 41 | €20,192 | €16,062 | -€4,130 | -20.5% |
| Cash at bank and in hand | 54/58 | €154,049 | €141,264 | -€12,785 | -8.3% |
| Deferred charges and accrued income | 490/1 | €19,116 | €3,815 | -€15,301 | -80.0% |
| Total equity and liabilities | 10/49 | €544,233 | €497,987 | -€46,246 | -8.5% |
| Equity | 10/15 | €182,573 | €171,630 | -€10,943 | -6.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €163,981 | €153,038 | -€10,943 | -6.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €163,981 | €153,038 | -€10,943 | -6.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €361,660 | €326,357 | -€35,303 | -9.8% |
| Amounts payable after more than one year | 17 | €102,602 | €90,235 | -€12,367 | -12.1% |
| Financial debts | 170/4 | €102,602 | €90,235 | -€12,367 | -12.1% |
| Amounts payable within one year | 42/48 | €255,968 | €236,122 | -€19,846 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €12,082 | €12,367 | +€285 | +2.4% |
| Trade debts | 44 | €195,939 | €152,409 | -€43,530 | -22.2% |
| Suppliers | 440/4 | €195,939 | €152,409 | -€43,530 | -22.2% |
| Taxes, remuneration and social security | 45 | €37,203 | €14,782 | -€22,422 | -60.3% |
| Taxes | 450/3 | €11,764 | €9,116 | -€2,648 | -22.5% |
| Remuneration and social security | 454/9 | €25,439 | €5,666 | -€19,774 | -77.7% |
| Other amounts payable | 47/48 | €10,744 | €56,564 | +€45,821 | +426.5% |
| Accrued charges and deferred income | 492/3 | €3,090 | €0 | -€3,090 | -100.0% |
| Non-recurring operating income | 76A | €4,000 | €0 | -€4,000 | -100.0% |
| Remuneration, social security and pensions | 62 | €269,300 | €232,686 | -€36,614 | -13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,884 | €19,449 | +€3,565 | +22.4% |
| Other operating charges | 640/8 | €8,871 | €9,254 | +€383 | +4.3% |
| Gross operating margin | 9900 | €326,479 | €313,205 | -€13,274 | -4.1% |
| Operating profit (loss) | 9901 | €32,424 | €51,816 | +€19,392 | +59.8% |
| Financial income | 75/76B | €10 | €44 | +€34 | +335.3% |
| Recurring financial income | 75 | €10 | €44 | +€34 | +335.3% |
| Financial charges | 65/66B | €9,835 | €7,845 | -€1,990 | -20.2% |
| Recurring financial charges | 65 | €9,835 | €7,845 | -€1,990 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €22,599 | €44,015 | +€21,416 | +94.8% |
| Income taxes | 67/77 | €7,581 | €13,535 | +€5,954 | +78.5% |
| Profit (loss) for the period | 9904 | €15,018 | €30,480 | +€15,463 | +103.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,018 | €30,480 | +€15,463 | +103.0% |
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 9 October 2026 via checked.be.