UBORA: 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.
UBORA
Largest movements
- Receivables within one year +€32,429
up €32,429 (+62.8%), from €51,644 to €84,073
of which Trade receivables: +€35,982
- Intangible fixed assets -€4,023
down €4,023 (-100.0%), from €4,023 to €0
- Tax, wage and social debts +€20,776
up €20,776 (+198.4%), from €10,473 to €31,249
of which Taxes: +€26,470
- Reserves +€20,721
up €20,721 (+136.8%), from €15,150 to €35,871
- Trade debts -€8,026
down €8,026 (-11.1%), from €72,221 to €64,195
- Current portion of long-term debt -€5,500
no longer reported in 2025 (was €5,500)
- Advances received +€1,991
up €1,991 (+8.2%), from €24,279 to €26,270
- Gross operating margin +€62,967
up €62,967, from -€5,898 to €57,069
- Taxes +€17,654
up €17,654 (+502.9%), from €3,511 to €21,165
- Financial charges +€4,671
up €4,671 (+100.7%), from €4,637 to €9,307
- Depreciation -€910
down €910 (-17.0%), from €5,341 to €4,431
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 | €161,089 | €189,639 | +€28,550 | +17.7% |
| Fixed assets | 21/28 | €109,270 | €104,839 | -€4,431 | -4.1% |
| Intangible fixed assets | 21 | €4,023 | €0 | -€4,023 | -100.0% |
| Tangible fixed assets | 22/27 | €621 | €213 | -€408 | -65.7% |
| Furniture and vehicles | 24 | €621 | €213 | -€408 | -65.7% |
| Financial fixed assets | 28 | €104,625 | €104,625 | = | 0.0% |
| Current assets | 29/58 | €51,819 | €84,801 | +€32,982 | +63.6% |
| Amounts receivable within one year | 40/41 | €51,644 | €84,073 | +€32,429 | +62.8% |
| Trade receivables | 40 | €47,459 | €83,441 | +€35,982 | +75.8% |
| Other amounts receivable | 41 | €4,185 | €631 | -€3,553 | -84.9% |
| Cash at bank and in hand | 54/58 | €175 | €387 | +€211 | +120.5% |
| Deferred charges and accrued income | 490/1 | - | €341 | +€341 | |
| Total equity and liabilities | 10/49 | €161,089 | €189,639 | +€28,550 | +17.7% |
| Equity | 10/15 | €47,205 | €67,926 | +€20,721 | +43.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,150 | €35,871 | +€20,721 | +136.8% |
| Distributable reserves | 133 | €15,150 | €35,871 | +€20,721 | +136.8% |
| Profit (loss) carried forward | 14 | €13,455 | €13,455 | = | 0.0% |
| Amounts payable | 17/49 | €113,884 | €121,713 | +€7,830 | +6.9% |
| Amounts payable within one year | 42/48 | €113,884 | €121,713 | +€7,830 | +6.9% |
| Current portion of amounts payable after more than one year | 42 | €5,500 | - | -€5,500 | |
| Financial debts | 43 | €1,411 | - | -€1,411 | |
| Credit institutions | 430/8 | €1,411 | - | -€1,411 | |
| Trade debts | 44 | €72,221 | €64,195 | -€8,026 | -11.1% |
| Suppliers | 440/4 | €72,221 | €64,195 | -€8,026 | -11.1% |
| Advances received on contracts in progress | 46 | €24,279 | €26,270 | +€1,991 | +8.2% |
| Taxes, remuneration and social security | 45 | €10,473 | €31,249 | +€20,776 | +198.4% |
| Taxes | 450/3 | €4,779 | €31,249 | +€26,470 | +553.9% |
| Remuneration and social security | 454/9 | €5,694 | - | -€5,694 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,341 | €4,431 | -€910 | -17.0% |
| Other operating charges | 640/8 | €1,365 | €1,448 | +€84 | +6.1% |
| Gross operating margin | 9900 | -€5,898 | €57,069 | +€62,967 | |
| Operating profit (loss) | 9901 | -€12,604 | €51,190 | +€63,793 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €4,637 | €9,307 | +€4,671 | +100.7% |
| Recurring financial charges | 65 | €4,637 | €9,307 | +€4,671 | +100.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,240 | €41,885 | +€59,126 | |
| Income taxes | 67/77 | €3,511 | €21,165 | +€17,654 | +502.9% |
| Profit (loss) for the period | 9904 | -€20,751 | €20,721 | +€41,472 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,751 | €20,721 | +€41,472 |
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 4 October 2026 via checked.be.