Usually IEEE floats have an implied 1 in the front. So for the standard represented numbers, there's some minimum number 1.bbbbbb.. * 2^-N. This allows 1bit more precision than is actually stored.

between any two numbers, there's basically the same epsilon difference, but from the smallest number to zero it's bigger.

A subnormal number breaks that convention, it just becomes 0.bbbbb... * 2^-N. As the numbers get smaller, the relative difference between the numbers gets larger. That also means their precision is smaller than the normal floats.