UGOCON: 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.
UGOCON
Largest movements
- Current investments -€14,525
down €14,525 (-12.0%), from €120,777 to €106,252
- Receivables within one year +€13,192
up €13,192 (+57.4%), from €22,993 to €36,185
of which Other amounts receivable: +€10,714
- Tangible fixed assets -€9,098
down €9,098 (-9.1%), from €99,921 to €90,823
- Cash -€3,835
down €3,835 (-6.2%), from €62,221 to €58,387
mainly Contributions, distributions and other (-€34,086) and Receivables within one year (-€13,192)
- Reserves -€27,165
down €27,165 (-10.5%), from €258,581 to €231,416
- Other debts +€23,151
up €23,151 (+1,195%), from €1,938 to €25,088
- Debts after one year -€6,239
down €6,239 (-32.0%), from €19,486 to €13,247
- Gross operating margin -€11,620
down €11,620 (-27.7%), from €41,968 to €30,348
- Taxes -€3,700
down €3,700 (-48.6%), from €7,605 to €3,905
- Depreciation +€1,689
up €1,689 (+12.0%), from €14,023 to €15,712
- Financial income +€623
up €623 (+32.5%), from €1,916 to €2,539
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 | €309,112 | €297,508 | -€11,605 | -3.8% |
| Fixed assets | 21/28 | €103,121 | €94,169 | -€8,952 | -8.7% |
| Tangible fixed assets | 22/27 | €99,921 | €90,823 | -€9,098 | -9.1% |
| Land and buildings | 22 | €41,707 | €38,212 | -€3,494 | -8.4% |
| Plant, machinery and equipment | 23 | €597 | €365 | -€231 | -38.8% |
| Furniture and vehicles | 24 | €9,727 | €7,571 | -€2,156 | -22.2% |
| Other tangible fixed assets | 26 | €47,891 | €44,675 | -€3,216 | -6.7% |
| Financial fixed assets | 28 | €3,200 | €3,346 | +€146 | +4.6% |
| Current assets | 29/58 | €205,991 | €203,338 | -€2,653 | -1.3% |
| Amounts receivable within one year | 40/41 | €22,993 | €36,185 | +€13,192 | +57.4% |
| Trade receivables | 40 | €16,261 | €18,739 | +€2,478 | +15.2% |
| Other amounts receivable | 41 | €6,732 | €17,446 | +€10,714 | +159% |
| Current investments | 50/53 | €120,777 | €106,252 | -€14,525 | -12.0% |
| Cash at bank and in hand | 54/58 | €62,221 | €58,387 | -€3,835 | -6.2% |
| Deferred charges and accrued income | 490/1 | - | €2,515 | +€2,515 | |
| Total equity and liabilities | 10/49 | €309,112 | €297,508 | -€11,605 | -3.8% |
| Equity | 10/15 | €270,981 | €243,816 | -€27,165 | -10.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €258,581 | €231,416 | -€27,165 | -10.5% |
| Distributable reserves | 133 | €258,581 | €231,416 | -€27,165 | -10.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,131 | €53,691 | +€15,560 | +40.8% |
| Amounts payable after more than one year | 17 | €19,486 | €13,247 | -€6,239 | -32.0% |
| Financial debts | 170/4 | €19,486 | €13,247 | -€6,239 | -32.0% |
| Amounts payable within one year | 42/48 | €17,871 | €39,238 | +€21,367 | +120% |
| Current portion of amounts payable after more than one year | 42 | €6,163 | €6,239 | +€76 | +1.2% |
| Trade debts | 44 | €3,009 | €2,575 | -€434 | -14.4% |
| Suppliers | 440/4 | €3,009 | €2,575 | -€434 | -14.4% |
| Taxes, remuneration and social security | 45 | €6,761 | €5,335 | -€1,426 | -21.1% |
| Taxes | 450/3 | €6,761 | €5,335 | -€1,426 | -21.1% |
| Other amounts payable | 47/48 | €1,938 | €25,088 | +€23,151 | +1,195% |
| Accrued charges and deferred income | 492/3 | €774 | €1,207 | +€433 | +55.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,023 | €15,712 | +€1,689 | +12.0% |
| Other operating charges | 640/8 | €4,164 | €4,292 | +€127 | +3.1% |
| Gross operating margin | 9900 | €41,968 | €30,348 | -€11,620 | -27.7% |
| Operating profit (loss) | 9901 | €23,781 | €10,344 | -€13,437 | -56.5% |
| Financial income | 75/76B | €1,916 | €2,539 | +€623 | +32.5% |
| Recurring financial income | 75 | €1,916 | €2,539 | +€623 | +32.5% |
| Financial charges | 65/66B | €2,007 | €2,057 | +€50 | +2.5% |
| Recurring financial charges | 65 | €2,007 | €2,057 | +€50 | +2.5% |
| Profit (loss) for the period before taxes | 9903 | €23,690 | €10,827 | -€12,864 | -54.3% |
| Income taxes | 67/77 | €7,605 | €3,905 | -€3,700 | -48.6% |
| Profit (loss) for the period | 9904 | €16,086 | €6,922 | -€9,164 | -57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,086 | €6,922 | -€9,164 | -57.0% |
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 24 October 2026 via checked.be.