UGS DISTRIBUTION: 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.
UGS DISTRIBUTION
Largest movements
- Receivables within one year +€103,959
up €103,959 (+226%), from €45,976 to €149,934
of which Trade receivables: +€94,210
- Cash +€53,739
up €53,739 (+308%), from €17,428 to €71,167
- Tangible fixed assets -€38,475
down €38,475 (-48.6%), from €79,134 to €40,659
of which Leasing and similar rights: -€32,642
- Other debts +€85,312
up €85,312 (+581%), from €14,688 to €100,000
- Tax, wage and social debts +€52,466
up €52,466 (+404%), from €12,977 to €65,444
of which Taxes: +€38,494
- Debts after one year -€37,267
down €37,267 (-67.5%), from €55,221 to €17,954
- Profit (loss) carried forward +€10,253
up €10,253 (+82.1%), from €12,487 to €22,740
- Trade debts +€7,433
up €7,433 (+36.5%), from €20,377 to €27,811
- Gross operating margin +€213,284
up €213,284 (+297%), from €71,790 to €285,074
- Staff costs +€111,860
up €111,860 (+311%), from €35,946 to €147,807
- Taxes +€27,936
up €27,936 (+2,489%), from €1,123 to €29,059
- Depreciation +€4,542
up €4,542 (+34.8%), from €13,056 to €17,599
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €143,039 | €264,670 | +€121,631 | +85.0% |
| Fixed assets | 21/28 | €79,134 | €40,659 | -€38,475 | -48.6% |
| Tangible fixed assets | 22/27 | €79,134 | €40,659 | -€38,475 | -48.6% |
| Furniture and vehicles | 24 | €6,370 | €536 | -€5,833 | -91.6% |
| Leasing and similar rights | 25 | €72,764 | €40,122 | -€32,642 | -44.9% |
| Current assets | 29/58 | €63,905 | €224,011 | +€160,106 | +251% |
| Amounts receivable within one year | 40/41 | €45,976 | €149,934 | +€103,959 | +226% |
| Trade receivables | 40 | €45,976 | €140,186 | +€94,210 | +205% |
| Other amounts receivable | 41 | - | €9,748 | +€9,748 | |
| Cash at bank and in hand | 54/58 | €17,428 | €71,167 | +€53,739 | +308% |
| Deferred charges and accrued income | 490/1 | €502 | €2,910 | +€2,408 | +480% |
| Total equity and liabilities | 10/49 | €143,039 | €264,670 | +€121,631 | +85.0% |
| Equity | 10/15 | €22,487 | €32,740 | +€10,253 | +45.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,487 | €22,740 | +€10,253 | +82.1% |
| Amounts payable | 17/49 | €120,552 | €231,930 | +€111,378 | +92.4% |
| Amounts payable after more than one year | 17 | €55,221 | €17,954 | -€37,267 | -67.5% |
| Financial debts | 170/4 | €55,221 | €17,954 | -€37,267 | -67.5% |
| Amounts payable within one year | 42/48 | €65,332 | €213,976 | +€148,645 | +228% |
| Current portion of amounts payable after more than one year | 42 | €17,288 | €20,722 | +€3,434 | +19.9% |
| Trade debts | 44 | €20,377 | €27,811 | +€7,433 | +36.5% |
| Suppliers | 440/4 | €20,377 | €27,811 | +€7,433 | +36.5% |
| Taxes, remuneration and social security | 45 | €12,977 | €65,444 | +€52,466 | +404% |
| Taxes | 450/3 | €8,806 | €47,300 | +€38,494 | +437% |
| Remuneration and social security | 454/9 | €4,172 | €18,143 | +€13,972 | +335% |
| Other amounts payable | 47/48 | €14,688 | €100,000 | +€85,312 | +581% |
| Remuneration, social security and pensions | 62 | €35,946 | €147,807 | +€111,860 | +311% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,056 | €17,599 | +€4,542 | +34.8% |
| Other operating charges | 640/8 | €4,123 | €3,987 | -€135 | -3.3% |
| Non-recurring operating charges | 66A | - | €8,113 | +€8,113 | |
| Gross operating margin | 9900 | €71,790 | €285,074 | +€213,284 | +297% |
| Operating profit (loss) | 9901 | €18,664 | €107,568 | +€88,904 | +476% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €2,999 | €3,711 | +€711 | +23.7% |
| Recurring financial charges | 65 | €2,999 | €3,711 | +€711 | +23.7% |
| Profit (loss) for the period before taxes | 9903 | €15,665 | €103,862 | +€88,198 | +563% |
| Income taxes | 67/77 | €1,123 | €29,059 | +€27,936 | +2,489% |
| Profit (loss) for the period | 9904 | €14,542 | €74,804 | +€60,261 | +414% |
| Profit (loss) for the period to be appropriated | 9905 | €14,542 | €74,804 | +€60,261 | +414% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.