ULALO: 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.
ULALO
Largest movements
- Financial fixed assets +€89,076
up €89,076 (+557%), from €16,000 to €105,076
- Intangible fixed assets +€68,796
up €68,796 (+120%), from €57,564 to €126,360
- Cash +€21,581
up €21,581 (+14,022%), from €154 to €21,735
mainly Other debts (+€83,832) and Net result for the year (+€78,416)
- Receivables within one year +€12,888
up €12,888 (+214%), from €6,015 to €18,903
of which Trade receivables: +€18,163
- Other debts +€83,832
up €83,832 (+85.1%), from €98,473 to €182,305
- Profit (loss) carried forward +€78,416
up €78,416, from -€28,135 to €50,281
- Tax, wage and social debts +€14,284
up €14,284, from €0 to €14,284
- Trade debts +€13,808
up €13,808 (+216%), from €6,396 to €20,204
- Gross operating margin +€133,446
up €133,446, from -€19,269 to €114,176
- Depreciation +€15,992
up €15,992 (+302%), from €5,298 to €21,291
- Taxes +€7,772
new in 2025: €7,772
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 | €81,734 | €272,074 | +€190,340 | +233% |
| Formation expenses | 20 | €356 | - | -€356 | |
| Fixed assets | 21/28 | €73,564 | €231,436 | +€157,872 | +215% |
| Intangible fixed assets | 21 | €57,564 | €126,360 | +€68,796 | +120% |
| Financial fixed assets | 28 | €16,000 | €105,076 | +€89,076 | +557% |
| Current assets | 29/58 | €7,814 | €40,638 | +€32,823 | +420% |
| Amounts receivable within one year | 40/41 | €6,015 | €18,903 | +€12,888 | +214% |
| Trade receivables | 40 | €737 | €18,900 | +€18,163 | +2,463% |
| Other amounts receivable | 41 | €5,277 | €3 | -€5,275 | -100.0% |
| Cash at bank and in hand | 54/58 | €154 | €21,735 | +€21,581 | +14,022% |
| Deferred charges and accrued income | 490/1 | €1,646 | - | -€1,646 | |
| Total equity and liabilities | 10/49 | €81,734 | €272,074 | +€190,340 | +233% |
| Equity | 10/15 | -€23,135 | €55,281 | +€78,416 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,135 | €50,281 | +€78,416 | |
| Amounts payable | 17/49 | €104,869 | €216,793 | +€111,924 | +107% |
| Amounts payable within one year | 42/48 | €104,869 | €216,793 | +€111,924 | +107% |
| Trade debts | 44 | €6,396 | €20,204 | +€13,808 | +216% |
| Suppliers | 440/4 | €6,396 | €20,204 | +€13,808 | +216% |
| Taxes, remuneration and social security | 45 | €0 | €14,284 | +€14,284 | |
| Taxes | 450/3 | €0 | €14,284 | +€14,284 | |
| Other amounts payable | 47/48 | €98,473 | €182,305 | +€83,832 | +85.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,298 | €21,291 | +€15,992 | +302% |
| Other operating charges | 640/8 | €20 | €20 | = | 0.0% |
| Non-recurring operating charges | 66A | - | €6,573 | +€6,573 | |
| Gross operating margin | 9900 | -€19,269 | €114,176 | +€133,446 | |
| Operating profit (loss) | 9901 | -€24,587 | €86,293 | +€110,881 | |
| Financial income | 75/76B | - | €283 | +€283 | |
| Recurring financial income | 75 | - | €283 | +€283 | |
| Financial charges | 65/66B | €249 | €388 | +€139 | +55.8% |
| Recurring financial charges | 65 | €249 | €388 | +€139 | +55.8% |
| Profit (loss) for the period before taxes | 9903 | -€24,837 | €86,188 | +€111,025 | |
| Income taxes | 67/77 | - | €7,772 | +€7,772 | |
| Profit (loss) for the period | 9904 | -€24,837 | €78,416 | +€103,253 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,837 | €78,416 | +€103,253 |
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 28 October 2026 via checked.be.