UDES: 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.
UDES
Largest movements
- Receivables within one year +€79,750
up €79,750 (+108%), from €73,899 to €153,649
of which Trade receivables: +€71,947
- Cash -€23,786
down €23,786 (-45.2%), from €52,604 to €28,818
mainly Receivables within one year (-€79,750) and Tax, wage and social debts (-€8,432)
- Profit (loss) carried forward +€51,058
up €51,058 (+42.1%), from €121,187 to €172,245
- Other debts +€13,099
up €13,099 (+61.6%), from €21,265 to €34,364
- Tax, wage and social debts -€8,432
down €8,432 (-32.6%), from €25,848 to €17,416
- Gross operating margin +€44,391
up €44,391 (+166%), from €26,768 to €71,159
- Taxes +€12,689
up €12,689 (+210%), from €6,053 to €18,741
- Financial income +€1,281
up €1,281 (+128,092%), from €1 to €1,282
- Financial charges +€963
up €963 (+101%), from €951 to €1,915
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 | €186,812 | €241,388 | +€54,576 | +29.2% |
| Fixed assets | 21/28 | - | €428 | +€428 | |
| Tangible fixed assets | 22/27 | - | €428 | +€428 | |
| Furniture and vehicles | 24 | - | €428 | +€428 | |
| Current assets | 29/58 | €186,812 | €240,961 | +€54,149 | +29.0% |
| Stocks and contracts in progress | 3 | €56,968 | €56,968 | = | 0.0% |
| Stocks | 30/36 | €56,968 | €56,968 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €73,899 | €153,649 | +€79,750 | +108% |
| Trade receivables | 40 | €26,633 | €98,579 | +€71,947 | +270% |
| Other amounts receivable | 41 | €47,266 | €55,070 | +€7,804 | +16.5% |
| Cash at bank and in hand | 54/58 | €52,604 | €28,818 | -€23,786 | -45.2% |
| Deferred charges and accrued income | 490/1 | €3,342 | €1,526 | -€1,816 | -54.3% |
| Total equity and liabilities | 10/49 | €186,812 | €241,388 | +€54,576 | +29.2% |
| Equity | 10/15 | €124,187 | €175,245 | +€51,058 | +41.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €121,187 | €172,245 | +€51,058 | +42.1% |
| Amounts payable | 17/49 | €62,625 | €66,143 | +€3,518 | +5.6% |
| Amounts payable within one year | 42/48 | €61,391 | €64,635 | +€3,243 | +5.3% |
| Trade debts | 44 | €14,279 | €12,855 | -€1,424 | -10.0% |
| Suppliers | 440/4 | €14,279 | €12,855 | -€1,424 | -10.0% |
| Taxes, remuneration and social security | 45 | €25,848 | €17,416 | -€8,432 | -32.6% |
| Taxes | 450/3 | €25,848 | €17,416 | -€8,432 | -32.6% |
| Other amounts payable | 47/48 | €21,265 | €34,364 | +€13,099 | +61.6% |
| Accrued charges and deferred income | 492/3 | €1,234 | €1,509 | +€275 | +22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €169 | +€169 | |
| Other operating charges | 640/8 | €513 | €558 | +€44 | +8.6% |
| Gross operating margin | 9900 | €26,768 | €71,159 | +€44,391 | +166% |
| Operating profit (loss) | 9901 | €26,254 | €70,432 | +€44,178 | +168% |
| Financial income | 75/76B | €1 | €1,282 | +€1,281 | +128,092% |
| Recurring financial income | 75 | €1 | €1,282 | +€1,281 | +128,092% |
| Financial charges | 65/66B | €951 | €1,915 | +€963 | +101% |
| Recurring financial charges | 65 | €951 | €1,915 | +€963 | +101% |
| Profit (loss) for the period before taxes | 9903 | €25,304 | €69,799 | +€44,495 | +176% |
| Income taxes | 67/77 | €6,053 | €18,741 | +€12,689 | +210% |
| Profit (loss) for the period | 9904 | €19,252 | €51,058 | +€31,807 | +165% |
| Profit (loss) for the period to be appropriated | 9905 | €19,252 | €51,058 | +€31,807 | +165% |
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 13 October 2026 via checked.be.