UKOT Liège: 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.
UKOT Liège
Largest movements
- Tangible fixed assets +€29.9m
up €29.9m (+417%), from €7.2m to €37.0m
of which Assets under construction and advance payments: +€29.9m
- Current investments -€2.0m
no longer reported in 2025 (was €2.0m)
- Cash -€443,373
down €443,373 (-89.7%), from €494,185 to €50,811
mainly Investment in fixed assets (net) (-€29.9m) and Net result for the year (-€64,674)
- Debts after one year +€25.8m
up €25.8m (+414%), from €6.2m to €32.0m
- Trade debts +€1.2m
up €1.2m (+74.7%), from €1.6m to €2.7m
- Accrued charges and deferred income +€468,712
up €468,712 (+43.5%), from €1.1m to €1.5m
- Other operating charges -€155,652
down €155,652 (-39.7%), from €392,086 to €236,435
- Turnover +€140,120
up €140,120 (+10.0%), from €1.4m to €1.5m
- Financial charges -€132,892
down €132,892 (-97.9%), from €135,694 to €2,802
- Gross operating margin +€114,233
up €114,233 (+119%), from €96,392 to €210,626
- Financial income -€24,316
down €24,316 (-84.3%), from €28,857 to €4,541
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 | €9,970,366 | €37,300,741 | +€27.3m | +274% |
| Formation expenses | 20 | €14,312 | €10,780 | -€3,533 | -24.7% |
| Fixed assets | 21/28 | €7,154,196 | €37,016,121 | +€29.9m | +417% |
| Tangible fixed assets | 22/27 | €7,154,196 | €37,016,121 | +€29.9m | +417% |
| Land and buildings | 22 | €169,370 | €166,571 | -€2,798 | -1.7% |
| Plant, machinery and equipment | 23 | €102,622 | €94,048 | -€8,575 | -8.4% |
| Furniture and vehicles | 24 | €2,287 | €1,670 | -€617 | -27.0% |
| Assets under construction and advance payments | 27 | €6,879,917 | €36,753,833 | +€29.9m | +434% |
| Current assets | 29/58 | €2,801,858 | €273,840 | -€2.5m | -90.2% |
| Amounts receivable within one year | 40/41 | €45,761 | €76,808 | +€31,046 | +67.8% |
| Trade receivables | 40 | €45,761 | €76,808 | +€31,046 | +67.8% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €2,000,000 | - | -€2.0m | |
| Cash at bank and in hand | 54/58 | €494,185 | €50,811 | -€443,373 | -89.7% |
| Deferred charges and accrued income | 490/1 | €261,912 | €146,221 | -€115,691 | -44.2% |
| Total equity and liabilities | 10/49 | €9,970,366 | €37,300,741 | +€27.3m | +274% |
| Equity | 10/15 | €914,810 | €850,137 | -€64,674 | -7.1% |
| Contributions | 10/11 | €1,350,000 | €1,350,000 | = | 0.0% |
| Capital | 10 | €1,350,000 | €1,350,000 | = | 0.0% |
| Issued capital | 100 | €5,175,000 | €5,175,000 | = | 0.0% |
| Uncalled capital | 101 | €3,825,000 | €3,825,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€435,190 | -€499,863 | -€64,674 | -14.9% |
| Amounts payable | 17/49 | €9,055,556 | €36,450,604 | +€27.4m | +303% |
| Amounts payable after more than one year | 17 | €6,220,000 | €31,979,382 | +€25.8m | +414% |
| Financial debts | 170/4 | €6,220,000 | €31,979,382 | +€25.8m | +414% |
| Amounts payable within one year | 42/48 | €1,757,986 | €2,924,940 | +€1.2m | +66.4% |
| Trade debts | 44 | €1,556,265 | €2,719,124 | +€1.2m | +74.7% |
| Suppliers | 440/4 | €1,556,265 | €2,719,124 | +€1.2m | +74.7% |
| Advances received on contracts in progress | 46 | €81,800 | €68,774 | -€13,026 | -15.9% |
| Other amounts payable | 47/48 | €119,921 | €137,042 | +€17,121 | +14.3% |
| Accrued charges and deferred income | 492/3 | €1,077,570 | €1,546,282 | +€468,712 | +43.5% |
| Turnover | 70 | €1,403,217 | €1,543,337 | +€140,120 | +10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,223 | €34,302 | +€15,079 | +78.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,302 | +€6,302 | |
| Other operating charges | 640/8 | €392,086 | €236,435 | -€155,652 | -39.7% |
| Gross operating margin | 9900 | €96,392 | €210,626 | +€114,233 | +119% |
| Operating profit (loss) | 9901 | -€314,917 | -€66,413 | +€248,504 | +78.9% |
| Financial income | 75/76B | €28,857 | €4,541 | -€24,316 | -84.3% |
| Recurring financial income | 75 | €28,857 | €4,541 | -€24,316 | -84.3% |
| Financial charges | 65/66B | €135,694 | €2,802 | -€132,892 | -97.9% |
| Recurring financial charges | 65 | €135,694 | €2,802 | -€132,892 | -97.9% |
| Profit (loss) for the period before taxes | 9903 | -€421,754 | -€64,674 | +€357,080 | +84.7% |
| Profit (loss) for the period | 9904 | -€421,754 | -€64,674 | +€357,080 | +84.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€421,754 | -€64,674 | +€357,080 | +84.7% |
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 26 October 2026 via checked.be.