Ulens: 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.
Ulens
Largest movements
- Cash -€47,664
down €47,664 (-29.6%), from €161,053 to €113,388
mainly Trade debts (-€40,309) and Receivables within one year (-€33,639)
- Receivables within one year +€33,639
up €33,639 (+18.7%), from €179,744 to €213,383
of which Trade receivables: +€18,379
- Deferred charges and accrued income +€6,992
up €6,992 (+20.8%), from €33,562 to €40,555
- Trade debts -€40,309
down €40,309 (-45.1%), from €89,302 to €48,993
- Reserves +€31,071
up €31,071 (+17.6%), from €177,026 to €208,097
of which Distributable reserves: +€31,071
- Gross operating margin -€9,052
down €9,052 (-2.5%), from €366,999 to €357,947
- Staff costs -€8,747
down €8,747 (-3.0%), from €288,575 to €279,828
- Depreciation +€3,695
up €3,695 (+67.8%), from €5,451 to €9,146
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.
Cash bridge derived
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 | €386,794 | €378,896 | -€7,898 | -2.0% |
| Fixed assets | 21/28 | €12,435 | €11,570 | -€866 | -7.0% |
| Tangible fixed assets | 22/27 | €12,435 | €11,570 | -€866 | -7.0% |
| Plant, machinery and equipment | 23 | €315 | €142 | -€173 | -55.1% |
| Furniture and vehicles | 24 | €12,120 | €11,428 | -€692 | -5.7% |
| Current assets | 29/58 | €374,359 | €367,326 | -€7,032 | -1.9% |
| Amounts receivable within one year | 40/41 | €179,744 | €213,383 | +€33,639 | +18.7% |
| Trade receivables | 40 | €179,744 | €198,123 | +€18,379 | +10.2% |
| Other amounts receivable | 41 | - | €15,260 | +€15,260 | |
| Cash at bank and in hand | 54/58 | €161,053 | €113,388 | -€47,664 | -29.6% |
| Deferred charges and accrued income | 490/1 | €33,562 | €40,555 | +€6,992 | +20.8% |
| Total equity and liabilities | 10/49 | €386,794 | €378,896 | -€7,898 | -2.0% |
| Equity | 10/15 | €195,626 | €226,697 | +€31,071 | +15.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €177,026 | €208,097 | +€31,071 | +17.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €175,166 | €206,237 | +€31,071 | +17.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €191,168 | €152,199 | -€38,968 | -20.4% |
| Amounts payable within one year | 42/48 | €191,168 | €152,199 | -€38,968 | -20.4% |
| Trade debts | 44 | €89,302 | €48,993 | -€40,309 | -45.1% |
| Suppliers | 440/4 | €89,302 | €48,993 | -€40,309 | -45.1% |
| Taxes, remuneration and social security | 45 | €87,592 | €89,073 | +€1,481 | +1.7% |
| Taxes | 450/3 | €51,510 | €54,203 | +€2,693 | +5.2% |
| Remuneration and social security | 454/9 | €36,081 | €34,869 | -€1,212 | -3.4% |
| Other amounts payable | 47/48 | €14,274 | €14,134 | -€140 | -1.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €288,575 | €279,828 | -€8,747 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,451 | €9,146 | +€3,695 | +67.8% |
| Other operating charges | 640/8 | €2,441 | €1,737 | -€704 | -28.8% |
| Gross operating margin | 9900 | €366,999 | €357,947 | -€9,052 | -2.5% |
| Operating profit (loss) | 9901 | €70,532 | €67,235 | -€3,296 | -4.7% |
| Financial income | 75/76B | €85 | €60 | -€24 | -28.9% |
| Recurring financial income | 75 | €85 | €60 | -€24 | -28.9% |
| Financial charges | 65/66B | €1,960 | €1,379 | -€582 | -29.7% |
| Recurring financial charges | 65 | €1,960 | €1,379 | -€582 | -29.7% |
| Profit (loss) for the period before taxes | 9903 | €68,656 | €65,917 | -€2,739 | -4.0% |
| Income taxes | 67/77 | €21,784 | €21,240 | -€544 | -2.5% |
| Profit (loss) for the period | 9904 | €46,872 | €44,677 | -€2,195 | -4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,872 | €44,677 | -€2,195 | -4.7% |
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 12 October 2026 via checked.be.