Rubicon VM: 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.
Rubicon VM
Largest movements
- Cash +€53,752
up €53,752 (+405%), from €13,261 to €67,013
mainly Net result for the year (+€40,999) and Receivables within one year (+€11,535)
- Receivables within one year -€11,535
down €11,535 (-98.6%), from €11,705 to €170
of which Trade receivables: -€11,139
- Tangible fixed assets +€7,141
new in 2025: €7,141
of which Other tangible fixed assets: +€5,029
- Reserves +€40,999
up €40,999 (+408%), from €10,040 to €51,039
- Tax, wage and social debts +€9,034
up €9,034 (+134%), from €6,734 to €15,767
- Gross operating margin +€42,987
up €42,987 (+308%), from €13,945 to €56,932
- Taxes +€8,749
up €8,749 (+340%), from €2,570 to €11,319
- Financial charges +€2,575
up €2,575 (+193%), from €1,335 to €3,909
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 | €24,966 | €74,324 | +€49,358 | +198% |
| Fixed assets | 21/28 | - | €7,141 | +€7,141 | |
| Tangible fixed assets | 22/27 | - | €7,141 | +€7,141 | |
| Furniture and vehicles | 24 | - | €2,112 | +€2,112 | |
| Other tangible fixed assets | 26 | - | €5,029 | +€5,029 | |
| Current assets | 29/58 | €24,966 | €67,183 | +€42,217 | +169% |
| Amounts receivable within one year | 40/41 | €11,705 | €170 | -€11,535 | -98.6% |
| Trade receivables | 40 | €11,139 | €0 | -€11,139 | -100% |
| Other amounts receivable | 41 | €566 | €170 | -€396 | -70.0% |
| Cash at bank and in hand | 54/58 | €13,261 | €67,013 | +€53,752 | +405% |
| Total equity and liabilities | 10/49 | €24,966 | €74,324 | +€49,358 | +198% |
| Equity | 10/15 | €15,040 | €56,039 | +€40,999 | +273% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €10,040 | €51,039 | +€40,999 | +408% |
| Distributable reserves | 133 | €10,040 | €51,039 | +€40,999 | +408% |
| Amounts payable | 17/49 | €9,926 | €18,284 | +€8,359 | +84.2% |
| Amounts payable within one year | 42/48 | €9,926 | €18,284 | +€8,359 | +84.2% |
| Trade debts | 44 | €3,192 | €2,517 | -€675 | -21.1% |
| Suppliers | 440/4 | €3,192 | €2,517 | -€675 | -21.1% |
| Taxes, remuneration and social security | 45 | €6,734 | €15,767 | +€9,034 | +134% |
| Taxes | 450/3 | €6,734 | €15,767 | +€9,034 | +134% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €352 | +€352 | |
| Other operating charges | 640/8 | - | €353 | +€353 | |
| Gross operating margin | 9900 | €13,945 | €56,932 | +€42,987 | +308% |
| Operating profit (loss) | 9901 | €13,945 | €56,227 | +€42,282 | +303% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,335 | €3,909 | +€2,575 | +193% |
| Recurring financial charges | 65 | €1,335 | €3,909 | +€2,575 | +193% |
| Profit (loss) for the period before taxes | 9903 | €12,610 | €52,318 | +€39,708 | +315% |
| Income taxes | 67/77 | €2,570 | €11,319 | +€8,749 | +340% |
| Profit (loss) for the period | 9904 | €10,040 | €40,999 | +€30,959 | +308% |
| Profit (loss) for the period to be appropriated | 9905 | €10,040 | €40,999 | +€30,959 | +308% |
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 30 October 2026 via checked.be.