UBAMAX: 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.
UBAMAX
Largest movements
- Cash +€7,690
up €7,690 (+45.3%), from €16,982 to €24,672
mainly Net result for the year (+€13,256) and Depreciation (+€1,992)
- Deferred charges and accrued income -€1,822
down €1,822 (-50.0%), from €3,645 to €1,823
- Reserves +€13,256
up €13,256 (+713%), from €1,859 to €15,115
of which Distributable reserves: +€13,256
- Current portion of long-term debt -€3,595
no longer reported in 2025 (was €3,595)
- Tax, wage and social debts -€2,380
down €2,380 (-70.5%), from €3,376 to €996
- Other debts -€1,883
down €1,883 (-19.7%), from €9,560 to €7,677
- Gross operating margin +€11,133
up €11,133 (+77.8%), from €14,303 to €25,436
- Taxes +€4,307
up €4,307 (+196%), from €2,199 to €6,506
- Depreciation -€2,502
down €2,502 (-55.7%), from €4,494 to €1,992
- Financial charges -€860
down €860 (-26.2%), from €3,284 to €2,424
- Other operating charges -€302
down €302 (-19.4%), from €1,560 to €1,258
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 | €68,948 | €74,846 | +€5,898 | +8.6% |
| Fixed assets | 21/28 | €36,405 | €36,492 | +€87 | +0.2% |
| Tangible fixed assets | 22/27 | €36,405 | €36,492 | +€87 | +0.2% |
| Land and buildings | 22 | €34,797 | €33,614 | -€1,183 | -3.4% |
| Plant, machinery and equipment | 23 | €1,190 | €2,817 | +€1,627 | +137% |
| Furniture and vehicles | 24 | €418 | €61 | -€357 | -85.4% |
| Current assets | 29/58 | €32,543 | €38,354 | +€5,811 | +17.9% |
| Amounts receivable within one year | 40/41 | €11,916 | €11,859 | -€57 | -0.5% |
| Trade receivables | 40 | €8,700 | €8,741 | +€41 | +0.5% |
| Other amounts receivable | 41 | €3,216 | €3,118 | -€98 | -3.0% |
| Cash at bank and in hand | 54/58 | €16,982 | €24,672 | +€7,690 | +45.3% |
| Deferred charges and accrued income | 490/1 | €3,645 | €1,823 | -€1,822 | -50.0% |
| Total equity and liabilities | 10/49 | €68,948 | €74,846 | +€5,898 | +8.6% |
| Equity | 10/15 | €51,075 | €64,331 | +€13,256 | +26.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €15,115 | +€13,256 | +713% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | - | €13,256 | +€13,256 | |
| Profit (loss) carried forward | 14 | €43,019 | €43,019 | = | 0.0% |
| Amounts payable | 17/49 | €17,873 | €10,515 | -€7,358 | -41.2% |
| Amounts payable within one year | 42/48 | €17,873 | €10,188 | -€7,685 | -43.0% |
| Current portion of amounts payable after more than one year | 42 | €3,595 | - | -€3,595 | |
| Financial debts | 43 | €114 | - | -€114 | |
| Credit institutions | 430/8 | €114 | - | -€114 | |
| Trade debts | 44 | €1,228 | €1,515 | +€287 | +23.4% |
| Suppliers | 440/4 | €1,228 | €1,515 | +€287 | +23.4% |
| Taxes, remuneration and social security | 45 | €3,376 | €996 | -€2,380 | -70.5% |
| Taxes | 450/3 | €3,376 | €996 | -€2,380 | -70.5% |
| Other amounts payable | 47/48 | €9,560 | €7,677 | -€1,883 | -19.7% |
| Accrued charges and deferred income | 492/3 | - | €327 | +€327 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,494 | €1,992 | -€2,502 | -55.7% |
| Other operating charges | 640/8 | €1,560 | €1,258 | -€302 | -19.4% |
| Gross operating margin | 9900 | €14,303 | €25,436 | +€11,133 | +77.8% |
| Operating profit (loss) | 9901 | €8,249 | €22,186 | +€13,937 | +169% |
| Financial charges | 65/66B | €3,284 | €2,424 | -€860 | -26.2% |
| Recurring financial charges | 65 | €3,284 | €2,424 | -€860 | -26.2% |
| Profit (loss) for the period before taxes | 9903 | €4,965 | €19,762 | +€14,797 | +298% |
| Income taxes | 67/77 | €2,199 | €6,506 | +€4,307 | +196% |
| Profit (loss) for the period | 9904 | €2,766 | €13,256 | +€10,490 | +379% |
| Profit (loss) for the period to be appropriated | 9905 | €2,766 | €13,256 | +€10,490 | +379% |
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 16 October 2026 via checked.be.