UCAPEX: 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.
UCAPEX
Largest movements
- Cash -€27,642
down €27,642 (-91.2%), from €30,306 to €2,663
mainly Tax, wage and social debts (-€10,965) and Receivables within one year (-€10,790)
- Receivables within one year +€10,790
up €10,790 (+12.4%), from €86,730 to €97,520
of which Trade receivables: +€10,790
- Tangible fixed assets +€2,576
up €2,576 (+108.2%), from €2,380 to €4,956
of which Plant, machinery and equipment: +€2,783
- Tax, wage and social debts -€10,965
down €10,965 (-72.3%), from €15,168 to €4,203
- Trade debts -€10,249
no longer reported in 2025 (was €10,249)
- Profit (loss) carried forward +€7,220
up €7,220 (+9.7%), from €74,544 to €81,763
- Other debts -€1,739
down €1,739 (-15.3%), from €11,395 to €9,655
- Accrued charges and deferred income +€1,458
new in 2025: €1,458
- Gross operating margin -€25,905
down €25,905 (-63.9%), from €40,518 to €14,613
- Taxes -€7,826
down €7,826 (-68.7%), from €11,400 to €3,574
- Depreciation +€1,697
up €1,697 (+114.7%), from €1,480 to €3,177
- Financial charges -€852
down €852 (-76.9%), from €1,107 to €255
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 | €119,416 | €105,140 | -€14,276 | -12.0% |
| Fixed assets | 21/28 | €2,380 | €4,956 | +€2,576 | +108.2% |
| Tangible fixed assets | 22/27 | €2,380 | €4,956 | +€2,576 | +108.2% |
| Plant, machinery and equipment | 23 | €1,554 | €4,337 | +€2,783 | +179.0% |
| Furniture and vehicles | 24 | €826 | €619 | -€206 | -25.0% |
| Current assets | 29/58 | €117,036 | €100,184 | -€16,852 | -14.4% |
| Amounts receivable within one year | 40/41 | €86,730 | €97,520 | +€10,790 | +12.4% |
| Trade receivables | 40 | €10,847 | €21,637 | +€10,790 | +99.5% |
| Other amounts receivable | 41 | €75,883 | €75,883 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €30,306 | €2,663 | -€27,642 | -91.2% |
| Total equity and liabilities | 10/49 | €119,416 | €105,140 | -€14,276 | -12.0% |
| Equity | 10/15 | €82,604 | €89,823 | +€7,220 | +8.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €74,544 | €81,763 | +€7,220 | +9.7% |
| Amounts payable | 17/49 | €36,812 | €15,316 | -€21,496 | -58.4% |
| Amounts payable within one year | 42/48 | €36,812 | €13,858 | -€22,954 | -62.4% |
| Trade debts | 44 | €10,249 | - | -€10,249 | |
| Suppliers | 440/4 | €10,249 | - | -€10,249 | |
| Taxes, remuneration and social security | 45 | €15,168 | €4,203 | -€10,965 | -72.3% |
| Taxes | 450/3 | €15,168 | €4,203 | -€10,965 | -72.3% |
| Other amounts payable | 47/48 | €11,395 | €9,655 | -€1,739 | -15.3% |
| Accrued charges and deferred income | 492/3 | - | €1,458 | +€1,458 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,480 | €3,177 | +€1,697 | +114.7% |
| Other operating charges | 640/8 | €401 | €387 | -€14 | -3.4% |
| Gross operating margin | 9900 | €40,518 | €14,613 | -€25,905 | -63.9% |
| Operating profit (loss) | 9901 | €38,637 | €11,049 | -€27,588 | -71.4% |
| Financial income | 75/76B | €37 | - | -€37 | |
| Recurring financial income | 75 | €37 | - | -€37 | |
| Financial charges | 65/66B | €1,107 | €255 | -€852 | -76.9% |
| Recurring financial charges | 65 | €1,107 | €255 | -€852 | -76.9% |
| Profit (loss) for the period before taxes | 9903 | €37,567 | €10,794 | -€26,773 | -71.3% |
| Income taxes | 67/77 | €11,400 | €3,574 | -€7,826 | -68.7% |
| Profit (loss) for the period | 9904 | €26,167 | €7,220 | -€18,947 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,167 | €7,220 | -€18,947 | -72.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.