THE RUBENS: 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.
THE RUBENS
Largest movements
- Receivables within one year +€13,489
up €13,489 (+217.8%), from €6,193 to €19,682
of which Trade receivables: +€7,868
- Receivables after one year -€8,500
no longer reported in 2025 (was €8,500)
- Tangible fixed assets -€3,332
down €3,332 (-100.0%), from €3,332 to €0
of which Furniture and vehicles: -€2,479
- Cash -€1,159
down €1,159 (-83.9%), from €1,381 to €222
mainly Receivables within one year (-€13,489) and Current portion of long-term debt (-€3,230)
- Deferred charges and accrued income -€772
no longer reported in 2025 (was €772)
- Trade debts +€7,794
up €7,794 (+1454.7%), from €536 to €8,330
- Current portion of long-term debt -€3,230
no longer reported in 2025 (was €3,230)
- Profit (loss) carried forward -€3,167
down €3,167 (-11.1%), from -€28,578 to -€31,745
- Debts after one year -€2,863
no longer reported in 2025 (was €2,863)
- Other debts +€1,190
new in 2025: €1,190
- Depreciation -€5,558
down €5,558 (-84.8%), from €6,553 to €995
- Gross operating margin -€901
down €901 (-54.9%), from -€1,641 to -€2,542
- Other operating charges -€528
no longer reported in 2025 (was €528)
- Financial charges -€516
down €516 (-82.5%), from €625 to €110
- Financial income +€166
up €166 (+53.2%), from €313 to €479
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 | €20,179 | €19,903 | -€275 | -1.4% |
| Fixed assets | 21/28 | €3,332 | €0 | -€3,332 | -100.0% |
| Tangible fixed assets | 22/27 | €3,332 | €0 | -€3,332 | -100.0% |
| Plant, machinery and equipment | 23 | €854 | - | -€854 | |
| Furniture and vehicles | 24 | €2,479 | €0 | -€2,479 | -100.0% |
| Current assets | 29/58 | €16,846 | €19,903 | +€3,057 | +18.1% |
| Amounts receivable after more than one year | 29 | €8,500 | - | -€8,500 | |
| Other amounts receivable | 291 | €8,500 | - | -€8,500 | |
| Amounts receivable within one year | 40/41 | €6,193 | €19,682 | +€13,489 | +217.8% |
| Trade receivables | 40 | - | €7,868 | +€7,868 | |
| Other amounts receivable | 41 | €6,193 | €11,814 | +€5,621 | +90.8% |
| Cash at bank and in hand | 54/58 | €1,381 | €222 | -€1,159 | -83.9% |
| Deferred charges and accrued income | 490/1 | €772 | - | -€772 | |
| Total equity and liabilities | 10/49 | €20,179 | €19,903 | -€275 | -1.4% |
| Equity | 10/15 | €13,052 | €9,885 | -€3,167 | -24.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €23,030 | €23,030 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €21,170 | €21,170 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,578 | -€31,745 | -€3,167 | -11.1% |
| Amounts payable | 17/49 | €7,127 | €10,018 | +€2,892 | +40.6% |
| Amounts payable after more than one year | 17 | €2,863 | - | -€2,863 | |
| Financial debts | 170/4 | €2,863 | - | -€2,863 | |
| Amounts payable within one year | 42/48 | €4,264 | €10,018 | +€5,754 | +135.0% |
| Current portion of amounts payable after more than one year | 42 | €3,230 | - | -€3,230 | |
| Trade debts | 44 | €536 | €8,330 | +€7,794 | +1454.7% |
| Suppliers | 440/4 | €536 | €8,330 | +€7,794 | +1454.7% |
| Taxes, remuneration and social security | 45 | €498 | €498 | = | 0.0% |
| Taxes | 450/3 | €498 | €498 | = | 0.0% |
| Other amounts payable | 47/48 | - | €1,190 | +€1,190 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,553 | €995 | -€5,558 | -84.8% |
| Other operating charges | 640/8 | €528 | - | -€528 | |
| Gross operating margin | 9900 | -€1,641 | -€2,542 | -€901 | -54.9% |
| Operating profit (loss) | 9901 | -€8,722 | -€3,537 | +€5,185 | +59.4% |
| Financial income | 75/76B | €313 | €479 | +€166 | +53.2% |
| Recurring financial income | 75 | €313 | €479 | +€166 | +53.2% |
| Financial charges | 65/66B | €625 | €110 | -€516 | -82.5% |
| Recurring financial charges | 65 | €625 | €110 | -€516 | -82.5% |
| Profit (loss) for the period before taxes | 9903 | -€9,034 | -€3,167 | +€5,867 | +64.9% |
| Profit (loss) for the period | 9904 | -€9,034 | -€3,167 | +€5,867 | +64.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,034 | -€3,167 | +€5,867 | +64.9% |
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 6 October 2026 via checked.be.