SUBLIVO: 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.
SUBLIVO
Largest movements
- Tangible fixed assets +€5,588
up €5,588 (+24.3%), from €22,970 to €28,559
of which Land and buildings: +€9,803
- Cash -€2,802
down €2,802 (-13.9%), from €20,103 to €17,300
mainly Contributions, distributions and other (-€21,013) and Investment in fixed assets (net) (-€10,860)
- Receivables within one year +€2,501
up €2,501 (+12.2%), from €20,434 to €22,935
of which Other amounts receivable: +€3,050
- Other debts +€13,033
up €13,033 (+238%), from €5,481 to €18,513
- Reserves -€6,364
down €6,364 (-39.8%), from €15,978 to €9,613
- Tax, wage and social debts -€4,815
down €4,815 (-30.2%), from €15,955 to €11,140
of which Taxes: -€4,815
- Current portion of long-term debt +€3,543
up €3,543 (+77.1%), from €4,597 to €8,140
- Debts after one year -€812
down €812 (-4.3%), from €18,920 to €18,108
- Gross operating margin +€4,060
up €4,060 (+14.9%), from €27,232 to €31,292
- Depreciation +€3,530
up €3,530 (+203%), from €1,742 to €5,272
- Financial charges +€521
up €521 (+15.6%), from €3,351 to €3,872
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 | €65,345 | €70,676 | +€5,331 | +8.2% |
| Fixed assets | 21/28 | €22,970 | €28,559 | +€5,588 | +24.3% |
| Tangible fixed assets | 22/27 | €22,970 | €28,559 | +€5,588 | +24.3% |
| Land and buildings | 22 | - | €9,803 | +€9,803 | |
| Plant, machinery and equipment | 23 | €263 | €0 | -€263 | -100% |
| Furniture and vehicles | 24 | €22,707 | €18,756 | -€3,951 | -17.4% |
| Current assets | 29/58 | €42,375 | €42,117 | -€257 | -0.6% |
| Amounts receivable within one year | 40/41 | €20,434 | €22,935 | +€2,501 | +12.2% |
| Trade receivables | 40 | €20,202 | €19,653 | -€549 | -2.7% |
| Other amounts receivable | 41 | €232 | €3,282 | +€3,050 | +1,315% |
| Cash at bank and in hand | 54/58 | €20,103 | €17,300 | -€2,802 | -13.9% |
| Deferred charges and accrued income | 490/1 | €1,838 | €1,882 | +€43 | +2.4% |
| Total equity and liabilities | 10/49 | €65,345 | €70,676 | +€5,331 | +8.2% |
| Equity | 10/15 | €16,978 | €10,613 | -€6,364 | -37.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €15,978 | €9,613 | -€6,364 | -39.8% |
| Distributable reserves | 133 | €15,978 | €9,613 | -€6,364 | -39.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €48,368 | €60,063 | +€11,695 | +24.2% |
| Amounts payable after more than one year | 17 | €18,920 | €18,108 | -€812 | -4.3% |
| Financial debts | 170/4 | €18,920 | €18,108 | -€812 | -4.3% |
| Amounts payable within one year | 42/48 | €29,448 | €41,955 | +€12,507 | +42.5% |
| Current portion of amounts payable after more than one year | 42 | €4,597 | €8,140 | +€3,543 | +77.1% |
| Financial debts | 43 | €277 | €313 | +€36 | +13.1% |
| Credit institutions | 430/8 | €277 | €313 | +€36 | +13.1% |
| Trade debts | 44 | €3,139 | €3,849 | +€710 | +22.6% |
| Suppliers | 440/4 | €3,139 | €3,849 | +€710 | +22.6% |
| Taxes, remuneration and social security | 45 | €15,955 | €11,140 | -€4,815 | -30.2% |
| Taxes | 450/3 | €15,955 | €11,140 | -€4,815 | -30.2% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,481 | €18,513 | +€13,033 | +238% |
| Non-recurring operating income | 76A | €1,810 | €0 | -€1,810 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,742 | €5,272 | +€3,530 | +203% |
| Other operating charges | 640/8 | €1,227 | €1,458 | +€231 | +18.8% |
| Non-recurring operating charges | 66A | €1,902 | €0 | -€1,902 | -100% |
| Gross operating margin | 9900 | €27,232 | €31,292 | +€4,060 | +14.9% |
| Operating profit (loss) | 9901 | €22,362 | €24,563 | +€2,201 | +9.8% |
| Financial income | 75/76B | €0 | €31 | +€31 | +10,333% |
| Recurring financial income | 75 | €0 | €31 | +€31 | +10,333% |
| Financial charges | 65/66B | €3,351 | €3,872 | +€521 | +15.6% |
| Recurring financial charges | 65 | €3,351 | €3,872 | +€521 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €19,011 | €20,722 | +€1,711 | +9.0% |
| Income taxes | 67/77 | €6,097 | €6,073 | -€24 | -0.4% |
| Profit (loss) for the period | 9904 | €12,914 | €14,649 | +€1,735 | +13.4% |
| Profit (loss) for the period to be appropriated | 9905 | €12,914 | €14,649 | +€1,735 | +13.4% |
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 26 October 2026 via checked.be.