ULFAT: what changed
Two fiscal 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.
ULFAT
Largest movements
- Stocks and contracts +€10,000
up €10,000 (+133.3%), from €7,500 to €17,500
- Cash -€4,495
down €4,495 (-24.8%), from €18,150 to €13,655
mainly Net result for the year (-€33,055) and Stocks and contracts (-€10,000)
- Receivables within one year +€1,544
up €1,544 (+425.9%), from €362 to €1,906
of which Other amounts receivable: +€1,004
- Trade debts +€23,713
up €23,713 (+278.7%), from €8,508 to €32,221
- Profit (loss) carried forward -€20,555
down €20,555, from €1,814 to -€18,741
- Reserves -€12,500
down €12,500 (-100.0%), from €12,500 to €0
- Other debts +€10,317
up €10,317 (+1157.4%), from €891 to €11,208
- Tax, wage and social debts +€5,700
up €5,700 (+127.1%), from €4,484 to €10,184
of which Remuneration and social security: +€5,075
- Gross operating margin -€31,776
down €31,776, from €27,299 to -€4,477
- Staff costs +€16,236
up €16,236 (+188.9%), from €8,597 to €24,833
- Taxes -€3,670
down €3,670 (-100.0%), from €3,670 to €0
- Other operating charges +€3,104
up €3,104 (+1432.0%), from €217 to €3,321
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 | €28,197 | €34,872 | +€6,675 | +23.7% |
| Fixed assets | 21/28 | €1,865 | €1,720 | -€145 | -7.8% |
| Tangible fixed assets | 22/27 | €350 | €205 | -€145 | -41.4% |
| Furniture and vehicles | 24 | €350 | €205 | -€145 | -41.4% |
| Financial fixed assets | 28 | €1,515 | €1,515 | = | 0.0% |
| Current assets | 29/58 | €26,332 | €33,152 | +€6,820 | +25.9% |
| Stocks and contracts in progress | 3 | €7,500 | €17,500 | +€10,000 | +133.3% |
| Stocks | 30/36 | €7,500 | €17,500 | +€10,000 | +133.3% |
| Amounts receivable within one year | 40/41 | €362 | €1,906 | +€1,544 | +425.9% |
| Trade receivables | 40 | - | €540 | +€540 | |
| Other amounts receivable | 41 | €362 | €1,366 | +€1,004 | +276.8% |
| Cash at bank and in hand | 54/58 | €18,150 | €13,655 | -€4,495 | -24.8% |
| Deferred charges and accrued income | 490/1 | €320 | €91 | -€228 | -71.4% |
| Total equity and liabilities | 10/49 | €28,197 | €34,872 | +€6,675 | +23.7% |
| Equity | 10/15 | €14,314 | -€18,741 | -€33,055 | |
| Reserves | 13 | €12,500 | €0 | -€12,500 | -100.0% |
| Distributable reserves | 133 | €12,500 | €0 | -€12,500 | -100.0% |
| Profit (loss) carried forward | 14 | €1,814 | -€18,741 | -€20,555 | |
| Amounts payable | 17/49 | €13,883 | €53,613 | +€39,730 | +286.2% |
| Amounts payable within one year | 42/48 | €13,883 | €53,613 | +€39,730 | +286.2% |
| Trade debts | 44 | €8,508 | €32,221 | +€23,713 | +278.7% |
| Suppliers | 440/4 | €8,508 | €32,221 | +€23,713 | +278.7% |
| Taxes, remuneration and social security | 45 | €4,484 | €10,184 | +€5,700 | +127.1% |
| Taxes | 450/3 | €3,670 | €4,295 | +€625 | +17.0% |
| Remuneration and social security | 454/9 | €814 | €5,889 | +€5,075 | +623.8% |
| Other amounts payable | 47/48 | €891 | €11,208 | +€10,317 | +1157.4% |
| Remuneration, social security and pensions | 62 | €8,597 | €24,833 | +€16,236 | +188.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85 | €145 | +€60 | +70.6% |
| Other operating charges | 640/8 | €217 | €3,321 | +€3,104 | +1432.0% |
| Gross operating margin | 9900 | €27,299 | -€4,477 | -€31,776 | |
| Operating profit (loss) | 9901 | €18,401 | -€32,775 | -€51,176 | |
| Financial income | 75/76B | €6 | €0 | -€6 | -99.8% |
| Recurring financial income | 75 | €6 | €0 | -€6 | -99.8% |
| Financial charges | 65/66B | €422 | €280 | -€142 | -33.7% |
| Recurring financial charges | 65 | €422 | €280 | -€142 | -33.7% |
| Profit (loss) for the period before taxes | 9903 | €17,984 | -€33,055 | -€51,039 | |
| Income taxes | 67/77 | €3,670 | €0 | -€3,670 | -100.0% |
| Profit (loss) for the period | 9904 | €14,314 | -€33,055 | -€47,369 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,314 | -€33,055 | -€47,369 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.