ULICON: 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.
ULICON
Largest movements
- Stocks and contracts +€890,293
up €890,293 (+17220.4%), from €5,170 to €895,463
- Cash -€209,658
down €209,658 (-57.8%), from €363,041 to €153,382
mainly Stocks and contracts (-€890,293) and Contributions, distributions and other (-€119,618)
- Receivables within one year -€46,144
down €46,144 (-18.8%), from €245,039 to €198,895
of which Other amounts receivable: -€106,770
- Debts after one year +€513,725
up €513,725 (+1143.8%), from €44,912 to €558,637
- Short-term financial debts +€69,994
up €69,994 (+1125301.9%), from €6 to €70,000
of which Other loans: +€70,000
- Current portion of long-term debt +€24,993
up €24,993 (+79.6%), from €31,403 to €56,396
- Reserves +€21,131
up €21,131 (+3.8%), from €550,740 to €571,870
- Gross operating margin -€80,487
down €80,487 (-16.1%), from €498,729 to €418,242
- Taxes -€34,375
down €34,375 (-35.7%), from €96,245 to €61,869
- Depreciation +€9,273
up €9,273 (+22.9%), from €40,415 to €49,689
- Financial charges +€8,866
up €8,866 (+174.3%), from €5,087 to €13,953
- Staff costs +€7,639
up €7,639 (+5.2%), from €145,943 to €153,583
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 | €717,774 | €1,343,083 | +€625,309 | +87.1% |
| Fixed assets | 21/28 | €104,523 | €92,814 | -€11,709 | -11.2% |
| Tangible fixed assets | 22/27 | €104,113 | €92,814 | -€11,299 | -10.9% |
| Land and buildings | 22 | €417 | €367 | -€50 | -12.0% |
| Plant, machinery and equipment | 23 | €65,193 | €72,452 | +€7,259 | +11.1% |
| Furniture and vehicles | 24 | €9,741 | €6,865 | -€2,876 | -29.5% |
| Leasing and similar rights | 25 | €28,761 | €13,130 | -€15,632 | -54.3% |
| Financial fixed assets | 28 | €411 | - | -€411 | |
| Current assets | 29/58 | €613,250 | €1,250,268 | +€637,018 | +103.9% |
| Stocks and contracts in progress | 3 | €5,170 | €895,463 | +€890,293 | +17220.4% |
| Stocks | 30/36 | €5,170 | €895,463 | +€890,293 | +17220.4% |
| Amounts receivable within one year | 40/41 | €245,039 | €198,895 | -€46,144 | -18.8% |
| Trade receivables | 40 | €87,998 | €148,624 | +€60,625 | +68.9% |
| Other amounts receivable | 41 | €157,041 | €50,271 | -€106,770 | -68.0% |
| Cash at bank and in hand | 54/58 | €363,041 | €153,382 | -€209,658 | -57.8% |
| Deferred charges and accrued income | 490/1 | - | €2,528 | +€2,528 | |
| Total equity and liabilities | 10/49 | €717,774 | €1,343,083 | +€625,309 | +87.1% |
| Equity | 10/15 | €551,740 | €572,870 | +€21,131 | +3.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €550,740 | €571,870 | +€21,131 | +3.8% |
| Distributable reserves | 133 | €550,740 | €571,870 | +€21,131 | +3.8% |
| Amounts payable | 17/49 | €166,034 | €770,212 | +€604,178 | +363.9% |
| Amounts payable after more than one year | 17 | €44,912 | €558,637 | +€513,725 | +1143.8% |
| Financial debts | 170/4 | €44,912 | €558,637 | +€513,725 | +1143.8% |
| Amounts payable within one year | 42/48 | €115,376 | €211,575 | +€96,199 | +83.4% |
| Current portion of amounts payable after more than one year | 42 | €31,403 | €56,396 | +€24,993 | +79.6% |
| Financial debts | 43 | €6 | €70,000 | +€69,994 | +1125301.9% |
| Credit institutions | 430/8 | €6 | - | -€6 | |
| Other loans | 439 | - | €70,000 | +€70,000 | |
| Trade debts | 44 | €58,033 | €70,442 | +€12,409 | +21.4% |
| Suppliers | 440/4 | €58,033 | €70,442 | +€12,409 | +21.4% |
| Taxes, remuneration and social security | 45 | €25,933 | €14,075 | -€11,859 | -45.7% |
| Taxes | 450/3 | €21,369 | €14,075 | -€7,294 | -34.1% |
| Remuneration and social security | 454/9 | €4,565 | - | -€4,565 | |
| Other amounts payable | 47/48 | - | €662 | +€662 | |
| Accrued charges and deferred income | 492/3 | €5,746 | - | -€5,746 | |
| Remuneration, social security and pensions | 62 | €145,943 | €153,583 | +€7,639 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,415 | €49,689 | +€9,273 | +22.9% |
| Other operating charges | 640/8 | €1,224 | €2,030 | +€806 | +65.9% |
| Gross operating margin | 9900 | €498,729 | €418,242 | -€80,487 | -16.1% |
| Operating profit (loss) | 9901 | €311,146 | €212,940 | -€98,206 | -31.6% |
| Financial income | 75/76B | €3,871 | €3,631 | -€241 | -6.2% |
| Recurring financial income | 75 | €3,871 | €3,631 | -€241 | -6.2% |
| Financial charges | 65/66B | €5,087 | €13,953 | +€8,866 | +174.3% |
| Recurring financial charges | 65 | €5,087 | €13,953 | +€8,866 | +174.3% |
| Profit (loss) for the period before taxes | 9903 | €309,931 | €202,618 | -€107,313 | -34.6% |
| Income taxes | 67/77 | €96,245 | €61,869 | -€34,375 | -35.7% |
| Profit (loss) for the period | 9904 | €213,686 | €140,748 | -€72,938 | -34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €213,686 | €140,748 | -€72,938 | -34.1% |
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 3 October 2026 via checked.be.