U-pendo: 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-pendo
Largest movements
- Cash -€49,372
down €49,372 (-73.3%), from €67,338 to €17,966
mainly Other debts (-€80,000) and Contributions, distributions and other (-€66,000)
- Receivables after one year -€48,800
down €48,800 (-49.4%), from €98,800 to €50,000
- Tangible fixed assets -€10,245
down €10,245 (-24.9%), from €41,195 to €30,950
of which Leasing and similar rights: -€9,105
- Other debts -€80,000
down €80,000 (-54.8%), from €146,000 to €66,000
- Tax, wage and social debts -€13,633
down €13,633 (-51.8%), from €26,293 to €12,660
- Debts after one year -€8,534
down €8,534 (-40.0%), from €21,358 to €12,824
- Reserves -€7,545
down €7,545 (-31.3%), from €24,105 to €16,560
- Taxes +€5,532
up €5,532 (+30.6%), from €18,099 to €23,631
- Financial income -€1,264
down €1,264 (-25.3%), from €4,991 to €3,727
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 | €229,352 | €121,786 | -€107,566 | -46.9% |
| Fixed assets | 21/28 | €41,195 | €30,950 | -€10,245 | -24.9% |
| Tangible fixed assets | 22/27 | €41,195 | €30,950 | -€10,245 | -24.9% |
| Plant, machinery and equipment | 23 | €3,938 | €3,475 | -€464 | -11.8% |
| Furniture and vehicles | 24 | €5,947 | €5,271 | -€676 | -11.4% |
| Leasing and similar rights | 25 | €31,310 | €22,204 | -€9,105 | -29.1% |
| Current assets | 29/58 | €188,157 | €90,836 | -€97,321 | -51.7% |
| Amounts receivable after more than one year | 29 | €98,800 | €50,000 | -€48,800 | -49.4% |
| Other amounts receivable | 291 | €98,800 | €50,000 | -€48,800 | -49.4% |
| Amounts receivable within one year | 40/41 | €21,449 | €21,361 | -€88 | -0.4% |
| Trade receivables | 40 | €16,789 | €19,058 | +€2,269 | +13.5% |
| Other amounts receivable | 41 | €4,660 | €2,303 | -€2,357 | -50.6% |
| Cash at bank and in hand | 54/58 | €67,338 | €17,966 | -€49,372 | -73.3% |
| Deferred charges and accrued income | 490/1 | €570 | €1,509 | +€940 | +165% |
| Total equity and liabilities | 10/49 | €229,352 | €121,786 | -€107,566 | -46.9% |
| Equity | 10/15 | €25,105 | €17,560 | -€7,545 | -30.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €24,105 | €16,560 | -€7,545 | -31.3% |
| Distributable reserves | 133 | €24,105 | €16,560 | -€7,545 | -31.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €204,247 | €104,226 | -€100,020 | -49.0% |
| Amounts payable after more than one year | 17 | €21,358 | €12,824 | -€8,534 | -40.0% |
| Financial debts | 170/4 | €21,358 | €12,824 | -€8,534 | -40.0% |
| Amounts payable within one year | 42/48 | €182,889 | €91,402 | -€91,487 | -50.0% |
| Current portion of amounts payable after more than one year | 42 | €8,128 | €8,534 | +€406 | +5.0% |
| Trade debts | 44 | €2,468 | €4,208 | +€1,740 | +70.5% |
| Suppliers | 440/4 | €2,468 | €4,208 | +€1,740 | +70.5% |
| Taxes, remuneration and social security | 45 | €26,293 | €12,660 | -€13,633 | -51.8% |
| Taxes | 450/3 | €26,293 | €12,660 | -€13,633 | -51.8% |
| Other amounts payable | 47/48 | €146,000 | €66,000 | -€80,000 | -54.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,629 | €11,215 | -€414 | -3.6% |
| Other operating charges | 640/8 | €1,507 | €719 | -€788 | -52.3% |
| Gross operating margin | 9900 | €92,414 | €91,796 | -€618 | -0.7% |
| Operating profit (loss) | 9901 | €79,278 | €79,861 | +€584 | +0.7% |
| Financial income | 75/76B | €4,991 | €3,727 | -€1,264 | -25.3% |
| Recurring financial income | 75 | €4,991 | €3,727 | -€1,264 | -25.3% |
| Financial charges | 65/66B | €2,018 | €1,503 | -€515 | -25.5% |
| Recurring financial charges | 65 | €2,018 | €1,503 | -€515 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | €82,251 | €82,086 | -€165 | -0.2% |
| Income taxes | 67/77 | €18,099 | €23,631 | +€5,532 | +30.6% |
| Profit (loss) for the period | 9904 | €64,152 | €58,455 | -€5,697 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €64,152 | €58,455 | -€5,697 | -8.9% |
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 25 October 2026 via checked.be.