ULYSSE (0477.467.652): financials and annual accounts

ULYSSE

Ixelles ·KBO/BCE: BE 0477.467.652

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Balance sheet: assets
Total assets`20/58`	826,561	782,783	731,902	392,403	348,210	328,014	260,592	267,977	192,127	237,312	187,813	129,544	115,180	137,557	142,776	126,167	94,062
Fixed assets`21/28`	305,225	279,230	291,933	4,056	4,127	4,196	4,265	4,334	3,714	3,714	3,697	3,923	4,799	5,654	2,955	4,584	3,419
Intangible fixed assets`21`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-
Tangible fixed assets`22/27`	305,200	279,205	288,210	346	415	484	553	622	-	-	-	226	1,128	2,029	2,930	4,559	3,394
Land and buildings`22`	305,062	278,998	287,933	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Plant, machinery and equipment`23`	-	-	-	-	-	-	-	-	-	-	-	-	675	1,350	2,025	3,427	2,036
Furniture and vehicles`24`	138	207	277	346	415	484	553	622	-	-	-	226	453	679	905	1,132	1,358
Financial fixed assets`28`	25	25	3,723	3,710	3,712	3,712	3,712	3,712	3,714	3,714	3,697	3,697	3,671	3,625	25	25	25
Current assets`29/58`	521,336	503,553	439,969	388,347	344,083	323,818	256,327	263,643	188,413	233,598	184,116	125,621	110,381	131,903	139,821	121,583	90,643
Amounts receivable within one year`40/41`	309,621	283,284	243,299	190,892	270,982	157,288	167,265	117,049	82,524	147,287	178,998	124,738	102,479	105,656	127,211	105,663	64,836
Trade receivables`40`	97,074	106,845	95,369	81,578	54,383	39,060	58,344	42,298	27,977	28,911	20,736	12,880	24,672	32,346	32,165	14,479	8,120
Other amounts receivable`41`	212,547	176,439	147,930	109,314	216,599	118,228	108,921	74,751	54,547	118,376	158,262	111,858	77,807	73,310	95,046	91,184	56,716
Current investments`50/53`	1,363	1,354	1,344	945	945	806	673	672	671	670	-	-	-	-	-	-	-
Cash at bank and in hand`54/58`	209,350	216,082	193,886	193,348	69,729	164,948	87,516	142,935	103,772	84,016	1,722	694	7,680	26,083	8,764	14,358	25,707
Deferred charges and accrued income`490/1`	1,002	2,833	1,440	3,162	2,427	776	873	2,987	1,446	1,625	3,396	189	222	164	3,846	1,562	100
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	826,561	782,783	731,902	392,403	348,210	328,014	260,592	267,977	192,127	237,312	187,813	129,544	115,180	137,557	142,776	126,167	94,062
Equity`10/15`	318,797	197,172	160,717	150,388	143,386	75,951	59,441	54,050	18,335	3,213	-8,883	-20,690	-42,926	-32,893	-20,732	-47,641	-60,723
Capital`10`	4,832	4,832	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reserves`13`	30,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	198,965	192,340	155,885	145,556	138,554	71,119	54,609	49,218	13,503	-1,619	-13,715	-25,522	-48,458	-39,125	-27,664	-55,273	-65,555
Investment grants`15`	85,000	-	-	-	-	-	-	-	-	-	-	-	700	1,400	2,100	2,800	-
Provisions and deferred taxes`16`	68,038	110,000	110,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Provisions for liabilities and charges`160/5`	68,038	110,000	110,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Major repairs and maintenance`162`	68,038	110,000	110,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amounts payable`17/49`	439,726	475,611	461,185	242,015	204,824	252,063	201,151	213,927	173,792	234,099	196,696	150,234	158,106	170,450	163,508	173,808	154,785
Amounts payable within one year`42/48`	418,578	426,316	415,531	242,015	193,691	252,063	201,151	211,427	173,792	143,799	145,340	150,124	158,106	150,681	126,508	147,808	144,583
Current portion of amounts payable after more than one year`42`	-	-	-	-	-	-	-	-	-	-	4,880	16,018	-	-	-	-	-
Financial debts`43`	104,147	135,155	166,163	-	-	-	-	-	-	-	-	-	10,000	-	-	40,000	30,000
Other loans`439`	104,147	135,155	166,163	-	-	-	-	-	-	-	-	-	10,000	-	-	40,000	30,000
Trade debts`44`	41,513	3,870	10,974	9,915	11,682	12,921	22,353	15,198	11,633	6,979	7,906	6,035	4,997	17,097	9,698	8,424	6,691
Suppliers`440/4`	41,513	3,870	10,974	9,915	11,682	12,921	22,353	15,198	11,633	6,979	7,906	6,035	4,997	17,097	9,698	8,424	6,691
Taxes, remuneration and social security`45`	272,918	287,291	238,394	232,100	178,623	226,898	178,548	152,864	138,027	134,095	132,554	128,066	143,099	133,580	116,807	99,382	107,884
Taxes`450/3`	38,054	27,981	19,362	20,358	14,108	19,175	14,100	20,420	10,209	10,437	16,711	14,217	24,649	15,466	25,702	13,632	11,486
Remuneration and social security`454/9`	234,864	259,310	219,032	211,742	164,515	207,723	164,448	132,444	127,818	123,658	115,843	113,849	118,450	118,114	91,105	85,750	96,398
Other amounts payable`47/48`	-	-	-	-	3,386	-	-	-	-	-	-	-	-	-	-	-	-
Accrued charges and deferred income`492/3`	21,148	49,295	45,654	-	11,133	-	-	2,500	-	90,300	51,356	110	-	19,769	37,000	26,000	10,202
Income statement
Operating income`70/76A`	-	-	-	-	-	-	1.2m	1.1m	1.0m	917,409	854,765	870,985	895,131	807,446	753,693	695,940	539,559
Turnover`70`	185,874	177,880	180,816	123,669	112,267	75,256	-	-	-	-	-	-	-	-	-	-	-
Membership fees, donations, legacies and grants`73`	1.7m	1.7m	1.6m	1.4m	1.3m	1.2m	-	-	-	-	-	-	-	-	-	-	-
Non-recurring operating income`76A`	17,829	5,453	15,842	2,303	17,487	9,377	11,067	6,240	6,442	2,421	15,111	2,430	1,201	1,137	1,127	2,342	613
Gross operating margin`9900`	1.7m	1.7m	1.7m	1.4m	1.3m	1.2m	1.1m	945,153	844,894	799,230	747,094	769,319	781,223	708,926	669,647	618,630	482,576
Goods, raw materials, services and sundry goods`60/61`	189,604	138,669	138,134	139,491	126,343	104,677	120,853	156,942	187,867	118,179	107,671	101,666	113,908	98,520	84,046	77,310	56,983
Remuneration, social security and pensions`62`	1.7m	1.7m	1.5m	1.4m	1.2m	1.1m	1.1m	911,871	809,794	783,017	745,851	743,663	773,478	713,942	639,044	608,170	519,814
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	9,005	9,005	9,988	69	69	69	69	69	-	-	226	902	901	901	1,629	2,210	1,535
Other operating charges`640/8`	-	3,728	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Non-recurring operating charges`66A`	11,149	17,287	4,897	38,796	7,308	26,903	5,628	3,690	26,146	4,272	2,796	3,156	17,211	5,161	2,423	206	6,544
Operating profit (loss)`9901`	36,740	36,554	10,487	7,127	67,529	16,561	53	33,213	35,100	16,213	1,017	24,754	6,844	-5,917	28,974	8,250	-38,773
Financial income`75/76B`	10	11	19	-	-	-	0	5	5	22	5	28	130	44	44	59	86
Recurring financial income`75`	10	11	19	-	-	-	0	5	5	22	5	28	130	44	44	59	86
Financial charges`65/66B`	125	110	176	125	94	51	101	53	279	2,288	1,530	1,121	297	1,564	113	163	533
Recurring financial charges`65`	125	110	176	125	94	51	101	53	279	2,288	1,530	1,121	297	1,564	113	163	533
Profit (loss) for the period before taxes`9903`	36,625	36,455	10,330	7,002	67,435	16,510	-48	33,165	34,826	13,947	-508	23,661	6,677	-7,437	28,905	8,146	-39,220
Profit (loss) for the period`9904`	36,625	36,455	10,330	7,002	67,435	16,510	5,391	35,715	15,122	12,096	11,807	22,936	-9,333	-11,461	27,609	10,282	-45,151
Profit (loss) for the period to be appropriated`9905`	36,625	36,455	10,330	7,002	67,435	16,510	5,391	35,715	15,122	12,096	11,807	22,936	-9,333	-	-	-	-
Appropriation of the result
Profit (loss) to be appropriated`9906`	228,965	192,340	155,885	145,556	138,554	71,119	54,609	49,218	13,503	-1,619	-13,715	-25,522	-48,458	-	-	-	-
Profit (loss) brought forward from the previous period`14P`	192,340	155,885	145,555	138,554	71,119	-	-	-	-	-	-	-	-	-	-	-	-
Addition to contributions`691`	30,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	20	20.7	20.7	19.9	18.6	17	16.2	13.3	12.5	12.5	13	12.6	12.4	11.3	11.3	10.1	9.1
Hours worked`1013`	31,745	31,244	45,408	29,092	28,609	25,693	25,766	22,711	20,527	21,055	20,093	19,588	20,643	19,089	17,852	17,711	15,576
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	22-06-2026	2026-00195502	PDF
31-12-2024	full format	24-06-2025	2025-00177004	PDF
31-12-2023	full format	06-06-2024	2024-00111764	PDF
31-12-2022	full format	19-06-2023	2023-00149061	PDF
31-12-2021	full format	15-06-2022	2022-20070712	PDF
31-12-2020	full format	22-06-2021	2021-24100085	PDF
31-12-2019	full format	22-06-2020	2020-19300571	PDF
31-12-2018	full format	21-06-2019	2019-21700512	PDF
31-12-2017	full format	24-06-2018	2018-22500155	PDF
31-12-2016	full format	20-06-2017	2017-19300228	PDF
31-12-2015	full format	19-06-2016	2016-19200130	PDF
31-12-2014	full format	15-06-2015	2015-17800160	PDF
31-12-2013	full format	16-06-2014	2014-18300517	PDF
31-12-2012	full format	17-06-2013	2013-18700131	PDF
31-12-2011	full format	24-06-2012	2012-22000128	PDF
31-12-2010	full format	24-06-2011	2011-20600436	PDF
31-12-2009	full format	30-06-2010	2010-25400355	PDF

Year	Entries	Paid
2025	1	€161,594
2024	2	€150,875

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
EBITDA	45,745	45,559	20,475	7,196	67,598	16,630	122	33,282	-	-	1,243	25,656	7,745	-5,016	30,603	10,460	-37,238
Cash flow	45,630	45,460	20,318	7,071	67,504	16,579	5,460	35,784	-	-	12,033	23,838	-8,432	-10,560	29,238	12,492	-43,616
Investment in fixed assets (approximation)	35,000	-3,698	297,865	-2	0	0	0	691	-	17	0	26	46	3,600	0	3,375	1,535
Change in cash	-6,732	22,196	538	123,619	-95,219	77,432	-55,419	39,163	19,756	82,294	1,028	-6,986	-18,403	17,319	-5,594	-11,349	-
Working capital	102,758	77,237	24,438	146,332	150,392	71,755	55,176	52,216	14,621	89,799	38,776	-24,503	-47,725	-18,778	13,313	-26,225	-53,940
EBIT margin	19.8%	20.5%	5.8%	5.8%	60.2%	22.0%	-	-	-	-	-	-	-	-	-	-	-
Solvency	38.6%	25.2%	22.0%	38.3%	41.2%	23.2%	22.8%	20.2%	9.5%	1.4%	-4.7%	-16.0%	-37.3%	-23.9%	-14.5%	-37.8%	-64.6%
Current ratio	1.25	1.18	1.06	1.60	1.78	1.28	1.27	1.25	1.08	1.62	1.27	0.84	0.70	0.88	1.11	0.82	0.63
Debt to equity	1.38	2.41	2.87	1.61	1.43	3.32	3.38	3.96	9.48	72.86	-	-	-	-	-	-	-
ROE	11.5%	18.5%	6.4%	4.7%	47.0%	21.7%	9.1%	66.1%	82.5%	376.5%	-	-	-	-	-	-	-
ROA	4.4%	4.7%	1.4%	1.8%	19.4%	5.0%	2.1%	13.3%	7.9%	5.1%	6.3%	17.7%	-8.1%	-8.3%	19.3%	8.1%	-48.0%
Interest coverage	over 100	over 100	over 100	57.57	over 100	-	-	-	-	-	-	-	-	-	-	-	-
Customer credit	191 days	219 days	193 days	241 days	177 days	189 days	-	-	-	-	-	-	-	-	-	-	-
Supplier credit	80 days	10 days	29 days	26 days	34 days	45 days	68 days	35 days	23 days	22 days	27 days	22 days	16 days	63 days	42 days	40 days	43 days

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	27	26	28	27	25
full-time	6	8	9	6	7
part-time	21	18	19	21	18
in full-time equivalents	20.4	20.3	21.3	20.7	19.7
Average over the year, in full-time equivalents	20	20.7	20.7	19.9	18.6
On a permanent contract	24	24	22	20	18
Joined	1	2	4	3	7
Left	0	4	3	1	4

ULYSSE

Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency38.6%

Current ratio1.25

Return on assets4.4%

Staff

Staff cost per FTE€86,544

Joined and left+1

Filed annual accounts

Filings

Subsidies and aid

Wallonia-Brussels Federation 2024 to 2025, 3 entries, €312,469 in total

Key figures and ratios

Social balance sheet

Investments

Insights on ULYSSE

Next steps

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€35,000	-	€297,852	-	-
Financial fixed assets	-	-	€13	-	-
Depreciation and write-downs of the year	€9,005	€9,005	€9,988	€69	€69