U.D.F.: what changed
What changed
U.D.F.
NACE 46.900, Non-specialised wholesale trade
filed annual accounts (NBB)
Net result for the year
-€20,530
2024 · €5,111-€25,641
Equity
€282,020
2024 · €302,114-€20,094
Cash
€67,515
2024 · €45,113+€22,403
Balance sheet total
€460,045
2024 · €493,796-€33,750
Largest movements
Assets
- Receivables within one year -€40,722
down €40,722 (-50.8%), from €80,218 to €39,497
of which Trade receivables: -€34,774
- Cash +€22,403
up €22,403 (+49.7%), from €45,113 to €67,515
mainly Receivables within one year (+€40,722) and Other debts (+€21,105)
- Stocks and contracts -€13,308
down €13,308 (-3.9%), from €341,887 to €328,579
Equity and liabilities
- Trade debts -€44,699
down €44,699 (-33.7%), from €132,600 to €87,901
- Other debts +€21,105
new in 2025: €21,105
- Profit (loss) carried forward -€19,324
down €19,324 (-9.2%), from -€210,131 to -€229,455
- Tax, wage and social debts +€10,373
up €10,373 (+18.0%), from €57,675 to €68,049
of which Remuneration and social security: +€8,381
Income statement
- Gross operating margin -€46,240
down €46,240 (-10.4%), from €444,454 to €398,213
- Staff costs -€35,794
down €35,794 (-8.0%), from €445,171 to €409,377
- Write-downs +€10,511
up €10,511 (+50.9%), from -€20,636 to -€10,124
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.
Result 2024
€5,111
Gross operating margin
-€46,240
Staff costs
+€35,794
Depreciation
-€366
Write-downs
-€10,511
Other operating charges
+€524
Financial income
-€2,412
Financial charges
-€2,442
Taxes
+€13
Result 2025
-€20,530
raises the resultlowers the result
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.
From operations
+€20,422
Investment
+€1,545
Financing
+€436
Cash 2024
€45,113
From operations (derived)
+€20,422
Net result for the year
-€20,530
Depreciation
+€579
Stocks and contracts
+€13,308
Receivables within one year
+€40,722
Provisions
-€436
Trade debts
-€44,699
Tax, wage and social debts
+€10,373
Other debts
+€21,105
Investment (derived)
+€1,545
Current investments
+€1,545
Financing
+€436
Contributions, distributions and other
+€436
Cash 2025
€67,515
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €493,796 | €460,045 | -€33,750 | -6.8% |
| Fixed assets | 21/28 | €25,033 | €24,454 | -€579 | -2.3% |
| Tangible fixed assets | 22/27 | €25,033 | €24,454 | -€579 | -2.3% |
| Land and buildings | 22 | €25,033 | €24,454 | -€579 | -2.3% |
| Current assets | 29/58 | €468,763 | €435,591 | -€33,172 | -7.1% |
| Stocks and contracts in progress | 3 | €341,887 | €328,579 | -€13,308 | -3.9% |
| Stocks | 30/36 | €341,887 | €328,579 | -€13,308 | -3.9% |
| Amounts receivable within one year | 40/41 | €80,218 | €39,497 | -€40,722 | -50.8% |
| Trade receivables | 40 | €74,271 | €39,497 | -€34,774 | -46.8% |
| Other amounts receivable | 41 | €5,948 | - | -€5,948 | |
| Current investments | 50/53 | €1,545 | - | -€1,545 | |
| Cash at bank and in hand | 54/58 | €45,113 | €67,515 | +€22,403 | +49.7% |
| Total equity and liabilities | 10/49 | €493,796 | €460,045 | -€33,750 | -6.8% |
| Equity | 10/15 | €302,114 | €282,020 | -€20,094 | -6.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €488,460 | €488,460 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,100 | €35,100 | = | 0.0% |
| Distributable reserves | 133 | €451,500 | €451,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€210,131 | -€229,455 | -€19,324 | -9.2% |
| Investment grants | 15 | €5,185 | €4,415 | -€770 | -14.9% |
| Provisions and deferred taxes | 16 | €1,406 | €970 | -€436 | -31.0% |
| Deferred taxes | 168 | €1,406 | €970 | -€436 | -31.0% |
| Amounts payable | 17/49 | €190,276 | €177,056 | -€13,220 | -6.9% |
| Amounts payable within one year | 42/48 | €190,276 | €177,056 | -€13,220 | -6.9% |
| Trade debts | 44 | €132,600 | €87,901 | -€44,699 | -33.7% |
| Suppliers | 440/4 | €132,600 | €87,901 | -€44,699 | -33.7% |
| Taxes, remuneration and social security | 45 | €57,675 | €68,049 | +€10,373 | +18.0% |
| Taxes | 450/3 | - | €1,992 | +€1,992 | |
| Remuneration and social security | 454/9 | €57,675 | €66,057 | +€8,381 | +14.5% |
| Other amounts payable | 47/48 | - | €21,105 | +€21,105 | |
| Non-recurring operating income | 76A | €32,500 | - | -€32,500 | |
| Remuneration, social security and pensions | 62 | €445,171 | €409,377 | -€35,794 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €212 | €579 | +€366 | +173% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€20,636 | -€10,124 | +€10,511 | +50.9% |
| Other operating charges | 640/8 | €10,239 | €9,715 | -€524 | -5.1% |
| Gross operating margin | 9900 | €444,454 | €398,213 | -€46,240 | -10.4% |
| Operating profit (loss) | 9901 | €9,467 | -€11,333 | -€20,800 | |
| Financial income | 75/76B | €2,412 | - | -€2,412 | |
| Recurring financial income | 75 | €2,412 | - | -€2,412 | |
| Financial charges | 65/66B | €5,975 | €8,417 | +€2,442 | +40.9% |
| Recurring financial charges | 65 | €5,975 | €8,417 | +€2,442 | +40.9% |
| Profit (loss) for the period before taxes | 9903 | €5,903 | -€19,750 | -€25,654 | |
| Income taxes | 67/77 | €792 | €780 | -€13 | -1.6% |
| Profit (loss) for the period | 9904 | €5,111 | -€20,530 | -€25,641 | |
| Transfer from tax-exempt reserves | 789 | €1,206 | €1,206 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,317 | -€19,324 | -€25,641 |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
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 7 November 2026 via checked.be.