Urban Ruban: 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.
Urban Ruban
Largest movements
- Stocks and contracts -€1.4m
down €1.4m (-31.9%), from €4.5m to €3.1m
- Other debts -€1.2m
down €1.2m (-30.2%), from €3.9m to €2.7m
- Short-term financial debts -€500,000
down €500,000 (-100%), from €500,000 to €0
- Reserves +€147,512
up €147,512, from €0 to €147,512
- Trade debts +€61,652
up €61,652 (+280%), from €22,014 to €83,666
- Gross operating margin +€309,276
up €309,276, from -€75,437 to €233,839
- Taxes +€39,164
up €39,164 (+11,409%), from €343 to €39,507
- Other operating charges +€9,420
up €9,420 (+264%), from €3,565 to €12,985
- Financial charges +€3,717
up €3,717 (+565%), from €657 to €4,375
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 | €4,622,033 | €3,176,264 | -€1.4m | -31.3% |
| Fixed assets | 21/28 | €81,358 | €83,196 | +€1,838 | +2.3% |
| Tangible fixed assets | 22/27 | €81,358 | €83,196 | +€1,838 | +2.3% |
| Furniture and vehicles | 24 | €81,358 | €83,196 | +€1,838 | +2.3% |
| Current assets | 29/58 | €4,540,675 | €3,093,068 | -€1.4m | -31.9% |
| Stocks and contracts in progress | 3 | €4,534,397 | €3,090,044 | -€1.4m | -31.9% |
| Stocks | 30/36 | €4,534,397 | €3,090,044 | -€1.4m | -31.9% |
| Amounts receivable within one year | 40/41 | €2,000 | €0 | -€2,000 | -100% |
| Other amounts receivable | 41 | €2,000 | €0 | -€2,000 | -100% |
| Cash at bank and in hand | 54/58 | €3,244 | €2,793 | -€451 | -13.9% |
| Deferred charges and accrued income | 490/1 | €1,035 | €231 | -€804 | -77.7% |
| Total equity and liabilities | 10/49 | €4,622,033 | €3,176,264 | -€1.4m | -31.3% |
| Equity | 10/15 | €216,563 | €372,512 | +€155,948 | +72.0% |
| Contributions | 10/11 | €225,000 | €225,000 | = | 0.0% |
| Reserves | 13 | €0 | €147,512 | +€147,512 | |
| Distributable reserves | 133 | €0 | €147,512 | +€147,512 | |
| Profit (loss) carried forward | 14 | -€8,437 | €0 | +€8,437 | |
| Amounts payable | 17/49 | €4,405,470 | €2,803,753 | -€1.6m | -36.4% |
| Amounts payable within one year | 42/48 | €4,405,470 | €2,803,753 | -€1.6m | -36.4% |
| Financial debts | 43 | €500,000 | €0 | -€500,000 | -100% |
| Credit institutions | 430/8 | €500,000 | €0 | -€500,000 | -100% |
| Trade debts | 44 | €22,014 | €83,666 | +€61,652 | +280% |
| Suppliers | 440/4 | €22,014 | €83,666 | +€61,652 | +280% |
| Taxes, remuneration and social security | 45 | €0 | €9,766 | +€9,766 | |
| Taxes | 450/3 | €0 | €9,766 | +€9,766 | |
| Other amounts payable | 47/48 | €3,883,456 | €2,710,322 | -€1.2m | -30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,186 | €24,782 | -€404 | -1.6% |
| Other operating charges | 640/8 | €3,565 | €12,985 | +€9,420 | +264% |
| Gross operating margin | 9900 | -€75,437 | €233,839 | +€309,276 | |
| Operating profit (loss) | 9901 | -€104,188 | €196,072 | +€300,261 | |
| Financial income | 75/76B | €2,075 | €3,758 | +€1,683 | +81.1% |
| Recurring financial income | 75 | €2,075 | €3,758 | +€1,683 | +81.1% |
| Financial charges | 65/66B | €657 | €4,375 | +€3,717 | +565% |
| Recurring financial charges | 65 | €657 | €4,375 | +€3,717 | +565% |
| Profit (loss) for the period before taxes | 9903 | -€102,771 | €195,455 | +€298,226 | |
| Income taxes | 67/77 | €343 | €39,507 | +€39,164 | +11,409% |
| Profit (loss) for the period | 9904 | -€103,114 | €155,948 | +€259,062 | |
| Profit (loss) for the period to be appropriated | 9905 | -€103,114 | €155,948 | +€259,062 |
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 22 October 2026 via checked.be.