SUBUNA: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
SUBUNA
Largest movements
- Current investments -€1.7m
down €1.7m (-48.9%), from €3.5m to €1.8m
- Cash +€1.2m
up €1.2m (+205%), from €576,458 to €1.8m
mainly Current investments (+€1.7m) and Net result for the year (+€323,862)
- Reserves -€873,755
down €873,755 (-21.8%), from €4.0m to €3.1m
of which Distributable reserves: -€873,755
- Profit (loss) carried forward +€323,862
up €323,862 (+331%), from €97,872 to €421,734
- Financial charges +€262,302
up €262,302, from -€217,299 to €45,003
of which Financial charges: +€287,302
- Gross operating margin -€157,086
down €157,086 (-29.9%), from €524,798 to €367,712
- Taxes -€126,119
down €126,119 (-55.4%), from €227,748 to €101,629
- Financial income +€33,414
up €33,414 (+30.2%), from €110,750 to €144,164
of which Non-recurring financial income: +€25,000
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,217,547 | €3,661,922 | -€555,626 | -13.2% |
| Fixed assets | 21/28 | €60,210 | €49,731 | -€10,478 | -17.4% |
| Tangible fixed assets | 22/27 | €47,414 | €36,935 | -€10,478 | -22.1% |
| Furniture and vehicles | 24 | €47,414 | €36,935 | -€10,478 | -22.1% |
| Financial fixed assets | 28 | €12,796 | €12,796 | = | 0.0% |
| Current assets | 29/58 | €4,157,338 | €3,612,191 | -€545,147 | -13.1% |
| Amounts receivable within one year | 40/41 | €42,809 | €47,684 | +€4,875 | +11.4% |
| Trade receivables | 40 | €42,615 | €47,502 | +€4,887 | +11.5% |
| Other amounts receivable | 41 | €193 | €182 | -€12 | -6.0% |
| Current investments | 50/53 | €3,537,826 | €1,808,790 | -€1.7m | -48.9% |
| Cash at bank and in hand | 54/58 | €576,458 | €1,755,422 | +€1.2m | +205% |
| Deferred charges and accrued income | 490/1 | €245 | €294 | +€49 | +20.0% |
| Total equity and liabilities | 10/49 | €4,217,547 | €3,661,922 | -€555,626 | -13.2% |
| Equity | 10/15 | €4,114,705 | €3,564,812 | -€549,893 | -13.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,010,632 | €3,136,878 | -€873,755 | -21.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €4,008,777 | €3,135,023 | -€873,755 | -21.8% |
| Profit (loss) carried forward | 14 | €97,872 | €421,734 | +€323,862 | +331% |
| Amounts payable | 17/49 | €102,843 | €97,110 | -€5,733 | -5.6% |
| Amounts payable within one year | 42/48 | €102,843 | €97,110 | -€5,733 | -5.6% |
| Taxes, remuneration and social security | 45 | €102,843 | €97,110 | -€5,733 | -5.6% |
| Taxes | 450/3 | €102,843 | €97,110 | -€5,733 | -5.6% |
| Non-recurring operating income | 76A | - | €10 | +€10 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,772 | €12,534 | +€1,761 | +16.3% |
| Other operating charges | 640/8 | €4,969 | €4,340 | -€629 | -12.7% |
| Non-recurring operating charges | 66A | €2,226 | €24,509 | +€22,283 | +1,001% |
| Gross operating margin | 9900 | €524,798 | €367,712 | -€157,086 | -29.9% |
| Operating profit (loss) | 9901 | €506,831 | €326,329 | -€180,501 | -35.6% |
| Financial income | 75/76B | €110,750 | €144,164 | +€33,414 | +30.2% |
| Recurring financial income | 75 | €110,750 | €119,164 | +€8,414 | +7.6% |
| Non-recurring financial income | 76B | - | €25,000 | +€25,000 | |
| Financial charges | 65/66B | -€217,299 | €45,003 | +€262,302 | |
| Recurring financial charges | 65 | -€242,299 | €45,003 | +€287,302 | |
| Non-recurring financial charges | 66B | €25,000 | - | -€25,000 | |
| Profit (loss) for the period before taxes | 9903 | €834,879 | €425,491 | -€409,389 | -49.0% |
| Income taxes | 67/77 | €227,748 | €101,629 | -€126,119 | -55.4% |
| Profit (loss) for the period | 9904 | €607,131 | €323,862 | -€283,269 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €607,131 | €323,862 | -€283,269 | -46.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.