J. UHODA: 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.
J. UHODA
Largest movements
- Stocks and contracts -€164,583
down €164,583 (-30.6%), from €538,230 to €373,647
- Current investments -€150,000
no longer reported in 2025 (was €150,000)
- Cash +€110,295
up €110,295 (+223.6%), from €49,332 to €159,626
mainly Stocks and contracts (+€164,583) and Current investments (+€150,000)
- Deferred charges and accrued income +€26,977
up €26,977 (+5395.5%), from €500 to €27,477
- Debts after one year -€96,801
down €96,801 (-63.2%), from €153,196 to €56,395
- Short-term financial debts -€95,000
down €95,000 (-21.3%), from €445,000 to €350,000
- Profit (loss) carried forward +€85,099
up €85,099, from -€84,591 to €507
- Reserves -€63,000
down €63,000 (-85.1%), from €74,000 to €11,000
- Other debts -€13,649
down €13,649 (-18.0%), from €75,972 to €62,324
- Gross operating margin +€49,864
up €49,864 (+64.1%), from €77,772 to €127,636
- Financial charges -€20,851
down €20,851 (-34.6%), from €60,262 to €39,411
- Other operating charges +€6,038
up €6,038 (+565.8%), from €1,067 to €7,105
- Taxes +€3,236
up €3,236 (+2011.9%), from €161 to €3,396
- Depreciation +€1,411
up €1,411 (+51.2%), from €2,753 to €4,164
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.
Cash bridge derived
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 | €828,476 | €649,054 | -€179,422 | -21.7% |
| Fixed assets | 21/28 | €57,109 | €58,454 | +€1,344 | +2.4% |
| Tangible fixed assets | 22/27 | €51,859 | €53,204 | +€1,344 | +2.6% |
| Furniture and vehicles | 24 | €3,926 | €5,969 | +€2,044 | +52.1% |
| Other tangible fixed assets | 26 | €47,934 | €47,234 | -€699 | -1.5% |
| Financial fixed assets | 28 | €5,250 | €5,250 | = | 0.0% |
| Current assets | 29/58 | €771,367 | €590,601 | -€180,766 | -23.4% |
| Stocks and contracts in progress | 3 | €538,230 | €373,647 | -€164,583 | -30.6% |
| Stocks | 30/36 | €538,230 | €373,647 | -€164,583 | -30.6% |
| Amounts receivable within one year | 40/41 | €33,305 | €29,850 | -€3,455 | -10.4% |
| Trade receivables | 40 | €19,693 | €29,156 | +€9,464 | +48.1% |
| Other amounts receivable | 41 | €13,612 | €693 | -€12,919 | -94.9% |
| Current investments | 50/53 | €150,000 | - | -€150,000 | |
| Cash at bank and in hand | 54/58 | €49,332 | €159,626 | +€110,295 | +223.6% |
| Deferred charges and accrued income | 490/1 | €500 | €27,477 | +€26,977 | +5395.5% |
| Total equity and liabilities | 10/49 | €828,476 | €649,054 | -€179,422 | -21.7% |
| Equity | 10/15 | €44,409 | €66,507 | +€22,099 | +49.8% |
| Contributions | 10/11 | €55,000 | €55,000 | = | 0.0% |
| Reserves | 13 | €74,000 | €11,000 | -€63,000 | -85.1% |
| Distributable reserves | 133 | €74,000 | €11,000 | -€63,000 | -85.1% |
| Profit (loss) carried forward | 14 | -€84,591 | €507 | +€85,099 | |
| Amounts payable | 17/49 | €784,067 | €582,547 | -€201,521 | -25.7% |
| Amounts payable after more than one year | 17 | €153,196 | €56,395 | -€96,801 | -63.2% |
| Financial debts | 170/4 | €153,196 | €56,395 | -€96,801 | -63.2% |
| Amounts payable within one year | 42/48 | €629,189 | €525,459 | -€103,730 | -16.5% |
| Current portion of amounts payable after more than one year | 42 | €94,788 | €96,801 | +€2,013 | +2.1% |
| Financial debts | 43 | €445,000 | €350,000 | -€95,000 | -21.3% |
| Credit institutions | 430/8 | €445,000 | €350,000 | -€95,000 | -21.3% |
| Trade debts | 44 | €1,267 | €1,425 | +€158 | +12.4% |
| Suppliers | 440/4 | €1,267 | €1,425 | +€158 | +12.4% |
| Taxes, remuneration and social security | 45 | €12,161 | €14,909 | +€2,748 | +22.6% |
| Taxes | 450/3 | €12,161 | €14,909 | +€2,748 | +22.6% |
| Other amounts payable | 47/48 | €75,972 | €62,324 | -€13,649 | -18.0% |
| Accrued charges and deferred income | 492/3 | €1,683 | €693 | -€990 | -58.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,753 | €4,164 | +€1,411 | +51.2% |
| Other operating charges | 640/8 | €1,067 | €7,105 | +€6,038 | +565.8% |
| Non-recurring operating charges | 66A | - | €4,980 | +€4,980 | |
| Gross operating margin | 9900 | €77,772 | €127,636 | +€49,864 | +64.1% |
| Operating profit (loss) | 9901 | €73,952 | €111,388 | +€37,436 | +50.6% |
| Financial income | 75/76B | €2,872 | €3,519 | +€647 | +22.5% |
| Recurring financial income | 75 | €2,872 | €3,519 | +€647 | +22.5% |
| Financial charges | 65/66B | €60,262 | €39,411 | -€20,851 | -34.6% |
| Recurring financial charges | 65 | €60,262 | €39,411 | -€20,851 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €16,562 | €75,495 | +€58,933 | +355.8% |
| Income taxes | 67/77 | €161 | €3,396 | +€3,236 | +2011.9% |
| Profit (loss) for the period | 9904 | €16,401 | €72,099 | +€55,697 | +339.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,401 | €72,099 | +€55,697 | +339.6% |
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 10 October 2026 via checked.be.