UBD GROUP: what changed
Two fiscal 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.
UBD GROUP
Largest movements
- Receivables within one year +€49,649
up €49,649 (+13031.2%), from €381 to €50,030
of which Trade receivables: +€41,781
- Tangible fixed assets +€11,523
up €11,523 (+805.2%), from €1,431 to €12,954
of which Other tangible fixed assets: +€9,000
- Cash +€4,782
up €4,782 (+46.7%), from €10,245 to €15,027
mainly Tax, wage and social debts (+€53,264) and Net result for the year (+€11,823)
- Receivables after one year -€2,800
no longer reported in 2025 (was €2,800)
- Tax, wage and social debts +€53,264
up €53,264 (+450.8%), from €11,816 to €65,080
of which Remuneration and social security: +€33,783
- Profit (loss) carried forward +€11,824
up €11,824 (+76.9%), from -€15,372 to -€3,548
- Trade debts -€1,768
down €1,768 (-24.7%), from €7,147 to €5,379
- Gross operating margin +€137,611
up €137,611 (+344.6%), from €39,937 to €177,548
- Staff costs +€93,806
up €93,806 (+245.3%), from €38,240 to €132,046
- Other operating charges +€10,528
up €10,528 (+81.1%), from €12,978 to €23,506
- Taxes +€8,000
new in 2025: €8,000
- Financial charges -€2,626
down €2,626 (-66.5%), from €3,952 to €1,326
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 | €23,857 | €87,010 | +€63,153 | +264.7% |
| Fixed assets | 21/28 | €10,431 | €21,954 | +€11,523 | +110.5% |
| Tangible fixed assets | 22/27 | €1,431 | €12,954 | +€11,523 | +805.2% |
| Furniture and vehicles | 24 | €1,431 | €3,954 | +€2,523 | +176.3% |
| Other tangible fixed assets | 26 | - | €9,000 | +€9,000 | |
| Financial fixed assets | 28 | €9,000 | €9,000 | = | 0.0% |
| Current assets | 29/58 | €13,426 | €65,057 | +€51,631 | +384.6% |
| Amounts receivable after more than one year | 29 | €2,800 | - | -€2,800 | |
| Other amounts receivable | 291 | €2,800 | - | -€2,800 | |
| Amounts receivable within one year | 40/41 | €381 | €50,030 | +€49,649 | +13031.2% |
| Trade receivables | 40 | €381 | €42,162 | +€41,781 | +10966.0% |
| Other amounts receivable | 41 | - | €7,868 | +€7,868 | |
| Cash at bank and in hand | 54/58 | €10,245 | €15,027 | +€4,782 | +46.7% |
| Total equity and liabilities | 10/49 | €23,857 | €87,010 | +€63,153 | +264.7% |
| Equity | 10/15 | €4,628 | €16,452 | +€11,824 | +255.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€15,372 | -€3,548 | +€11,824 | +76.9% |
| Amounts payable | 17/49 | €19,229 | €70,559 | +€51,330 | +266.9% |
| Amounts payable within one year | 42/48 | €19,229 | €70,559 | +€51,330 | +266.9% |
| Financial debts | 43 | - | €100 | +€100 | |
| Credit institutions | 430/8 | - | €100 | +€100 | |
| Trade debts | 44 | €7,147 | €5,379 | -€1,768 | -24.7% |
| Suppliers | 440/4 | €7,147 | €5,379 | -€1,768 | -24.7% |
| Taxes, remuneration and social security | 45 | €11,816 | €65,080 | +€53,264 | +450.8% |
| Taxes | 450/3 | €8,109 | €27,591 | +€19,482 | +240.2% |
| Remuneration and social security | 454/9 | €3,707 | €37,490 | +€33,783 | +911.3% |
| Other amounts payable | 47/48 | €266 | - | -€266 | |
| Remuneration, social security and pensions | 62 | €38,240 | €132,046 | +€93,806 | +245.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €159 | €848 | +€689 | +433.1% |
| Other operating charges | 640/8 | €12,978 | €23,506 | +€10,528 | +81.1% |
| Gross operating margin | 9900 | €39,937 | €177,548 | +€137,611 | +344.6% |
| Operating profit (loss) | 9901 | -€11,440 | €21,148 | +€32,588 | |
| Financial income | 75/76B | €20 | €1 | -€19 | -93.2% |
| Recurring financial income | 75 | €20 | €1 | -€19 | -93.2% |
| Financial charges | 65/66B | €3,952 | €1,326 | -€2,626 | -66.5% |
| Recurring financial charges | 65 | €3,952 | €1,326 | -€2,626 | -66.5% |
| Profit (loss) for the period before taxes | 9903 | -€15,372 | €19,823 | +€35,195 | |
| Income taxes | 67/77 | - | €8,000 | +€8,000 | |
| Profit (loss) for the period | 9904 | -€15,372 | €11,823 | +€27,195 | |
| Profit (loss) for the period to be appropriated | 9905 | -€15,372 | €11,823 | +€27,195 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.