U-GO: 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.
U-GO
Largest movements
- Tangible fixed assets -€102,040
down €102,040 (-30.5%), from €334,086 to €232,046
of which Plant, machinery and equipment: -€90,071
- Cash -€13,109
down €13,109 (-6.9%), from €191,341 to €178,232
mainly Debts after one year (-€82,778) and Trade debts (-€75,855)
- Receivables within one year -€9,213
down €9,213 (-41.5%), from €22,223 to €13,010
of which Trade receivables: -€9,213
- Debts after one year -€82,778
down €82,778 (-40.7%), from €203,194 to €120,416
- Trade debts -€75,855
down €75,855 (-62.8%), from €120,836 to €44,981
- Profit (loss) carried forward +€60,615
up €60,615 (+50.8%), from -€119,217 to -€58,602
- Short-term financial debts -€49,073
down €49,073 (-30.4%), from €161,212 to €112,140
- Tax, wage and social debts +€12,944
up €12,944 (+13.6%), from €94,838 to €107,782
of which Remuneration and social security: +€22,511
- Gross operating margin +€166,848
up €166,848 (+30.4%), from €549,460 to €716,309
- Staff costs +€56,693
up €56,693 (+13.6%), from €416,901 to €473,594
- Financial charges +€20,311
up €20,311 (+107%), from €18,940 to €39,251
- Taxes -€10,000
no longer reported in 2025 (was €10,000)
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 | €656,933 | €529,824 | -€127,109 | -19.3% |
| Fixed assets | 21/28 | €334,086 | €232,046 | -€102,040 | -30.5% |
| Tangible fixed assets | 22/27 | €334,086 | €232,046 | -€102,040 | -30.5% |
| Plant, machinery and equipment | 23 | €297,697 | €207,626 | -€90,071 | -30.3% |
| Furniture and vehicles | 24 | €36,389 | €24,420 | -€11,969 | -32.9% |
| Current assets | 29/58 | €322,847 | €297,778 | -€25,069 | -7.8% |
| Stocks and contracts in progress | 3 | €102,385 | €101,984 | -€401 | -0.4% |
| Stocks | 30/36 | €102,385 | €101,984 | -€401 | -0.4% |
| Amounts receivable within one year | 40/41 | €22,223 | €13,010 | -€9,213 | -41.5% |
| Trade receivables | 40 | €13,835 | €4,622 | -€9,213 | -66.6% |
| Other amounts receivable | 41 | €8,388 | €8,388 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €191,341 | €178,232 | -€13,109 | -6.9% |
| Deferred charges and accrued income | 490/1 | €6,899 | €4,553 | -€2,346 | -34.0% |
| Total equity and liabilities | 10/49 | €656,933 | €529,824 | -€127,109 | -19.3% |
| Equity | 10/15 | -€19,217 | €41,398 | +€60,615 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€119,217 | -€58,602 | +€60,615 | +50.8% |
| Amounts payable | 17/49 | €676,151 | €488,426 | -€187,724 | -27.8% |
| Amounts payable after more than one year | 17 | €203,194 | €120,416 | -€82,778 | -40.7% |
| Financial debts | 170/4 | €203,194 | €120,416 | -€82,778 | -40.7% |
| Amounts payable within one year | 42/48 | €472,956 | €368,010 | -€104,946 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €96,070 | €103,108 | +€7,038 | +7.3% |
| Financial debts | 43 | €161,212 | €112,140 | -€49,073 | -30.4% |
| Other loans | 439 | €161,212 | €112,140 | -€49,073 | -30.4% |
| Trade debts | 44 | €120,836 | €44,981 | -€75,855 | -62.8% |
| Suppliers | 440/4 | €120,836 | €44,981 | -€75,855 | -62.8% |
| Taxes, remuneration and social security | 45 | €94,838 | €107,782 | +€12,944 | +13.6% |
| Taxes | 450/3 | €30,086 | €20,519 | -€9,567 | -31.8% |
| Remuneration and social security | 454/9 | €64,752 | €87,262 | +€22,511 | +34.8% |
| Remuneration, social security and pensions | 62 | €416,901 | €473,594 | +€56,693 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,952 | €122,040 | +€6,088 | +5.3% |
| Other operating charges | 640/8 | €26,261 | €20,809 | -€5,452 | -20.8% |
| Gross operating margin | 9900 | €549,460 | €716,309 | +€166,848 | +30.4% |
| Operating profit (loss) | 9901 | -€9,653 | €99,866 | +€109,519 | |
| Financial income | 75/76B | €1,297 | €0 | -€1,297 | -100.0% |
| Recurring financial income | 75 | €1,297 | €0 | -€1,297 | -100.0% |
| Financial charges | 65/66B | €18,940 | €39,251 | +€20,311 | +107% |
| Recurring financial charges | 65 | €18,940 | €39,251 | +€20,311 | +107% |
| Profit (loss) for the period before taxes | 9903 | -€27,296 | €60,615 | +€87,911 | |
| Income taxes | 67/77 | €10,000 | - | -€10,000 | |
| Profit (loss) for the period | 9904 | -€37,296 | €60,615 | +€97,911 | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,296 | €60,615 | +€97,911 |
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 17 October 2026 via checked.be.