UDLA: what changed
What changed
UDLA
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€180,086
2024 · €93,120+€86,966
Equity
€1.9m
2024 · €1.7m+€180,086
Cash
€336,654
2024 · €19,029+€317,625
Balance sheet total
€2.6m
2024 · €2.3m+€311,353
Largest movements
Assets
- Cash +€317,625
up €317,625 (+1,669%), from €19,029 to €336,654
mainly Net result for the year (+€180,086) and Other debts (+€134,470)
Equity and liabilities
- Reserves +€180,000
up €180,000 (+36.0%), from €500,000 to €680,000
of which Distributable reserves: +€560,000
- Other debts +€134,470
up €134,470 (+22.7%), from €593,592 to €728,062
Income statement
- Gross operating margin +€123,516
up €123,516 (+66.9%), from €184,638 to €308,154
- Taxes +€31,395
up €31,395 (+68.3%), from €46,000 to €77,395
- Financial charges +€4,970
up €4,970 (+11.9%), from €41,661 to €46,631
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€93,120
Gross operating margin
+€123,516
Depreciation
-€313
Other operating charges
+€128
Financial charges
-€4,970
Taxes
-€31,395
Result 2025
€180,086
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€317,637
Investment
€0
Financing
-€12
Cash 2024
€19,029
From operations (derived)
+€317,637
Net result for the year
+€180,086
Depreciation
+€3,914
Receivables after one year
+€2,358
Trade debts
+€791
Tax, wage and social debts
-€3,982
Other debts
+€134,470
Financing
-€12
Short-term financial debts
-€12
Cash 2025
€336,654
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,323,230 | €2,634,583 | +€311,353 | +13.4% |
| Fixed assets | 21/28 | €2,291,036 | €2,287,122 | -€3,914 | -0.2% |
| Tangible fixed assets | 22/27 | €5,670 | €1,756 | -€3,914 | -69.0% |
| Plant, machinery and equipment | 23 | €5,670 | €1,756 | -€3,914 | -69.0% |
| Financial fixed assets | 28 | €2,285,366 | €2,285,366 | = | 0.0% |
| Current assets | 29/58 | €32,194 | €347,461 | +€315,267 | +979% |
| Amounts receivable after more than one year | 29 | €13,165 | €10,807 | -€2,358 | -17.9% |
| Trade receivables | 290 | €13,165 | €10,807 | -€2,358 | -17.9% |
| Cash at bank and in hand | 54/58 | €19,029 | €336,654 | +€317,625 | +1,669% |
| Total equity and liabilities | 10/49 | €2,323,230 | €2,634,583 | +€311,353 | +13.4% |
| Equity | 10/15 | €1,700,877 | €1,880,963 | +€180,086 | +10.6% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Capital | 10 | €1,200,000 | €1,200,000 | = | 0.0% |
| Issued capital | 100 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €500,000 | €680,000 | +€180,000 | +36.0% |
| Non-distributable reserves | 130/1 | €120,000 | €120,000 | = | 0.0% |
| Legal reserve | 130 | €120,000 | €120,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €380,000 | - | -€380,000 | |
| Distributable reserves | 133 | - | €560,000 | +€560,000 | |
| Profit (loss) carried forward | 14 | €877 | €963 | +€86 | +9.8% |
| Amounts payable | 17/49 | €622,353 | €753,620 | +€131,267 | +21.1% |
| Amounts payable within one year | 42/48 | €622,353 | €753,620 | +€131,267 | +21.1% |
| Financial debts | 43 | €13,568 | €13,556 | -€12 | -0.1% |
| Credit institutions | 430/8 | €13,568 | €13,556 | -€12 | -0.1% |
| Trade debts | 44 | €227 | €1,018 | +€791 | +348% |
| Suppliers | 440/4 | €227 | €1,018 | +€791 | +348% |
| Taxes, remuneration and social security | 45 | €14,966 | €10,984 | -€3,982 | -26.6% |
| Taxes | 450/3 | €14,966 | €10,984 | -€3,982 | -26.6% |
| Other amounts payable | 47/48 | €593,592 | €728,062 | +€134,470 | +22.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,601 | €3,914 | +€313 | +8.7% |
| Other operating charges | 640/8 | €256 | €128 | -€128 | -50.0% |
| Gross operating margin | 9900 | €184,638 | €308,154 | +€123,516 | +66.9% |
| Operating profit (loss) | 9901 | €180,781 | €304,112 | +€123,331 | +68.2% |
| Financial charges | 65/66B | €41,661 | €46,631 | +€4,970 | +11.9% |
| Recurring financial charges | 65 | €41,661 | €46,631 | +€4,970 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €139,120 | €257,481 | +€118,361 | +85.1% |
| Income taxes | 67/77 | €46,000 | €77,395 | +€31,395 | +68.3% |
| Profit (loss) for the period | 9904 | €93,120 | €180,086 | +€86,966 | +93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €93,120 | €180,086 | +€86,966 | +93.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.