ULIMO: 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.
ULIMO
Largest movements
- Tangible fixed assets -€25,930
down €25,930 (-6.4%), from €404,299 to €378,369
- Receivables within one year +€19,743
up €19,743 (+355.5%), from €5,554 to €25,297
of which Other amounts receivable: +€19,743
- Cash -€5,311
down €5,311 (-25.1%), from €21,127 to €15,816
mainly Receivables within one year (-€19,743) and Accrued charges and deferred income (-€15,749)
- Other debts +€17,194
up €17,194 (+42.2%), from €40,775 to €57,969
- Accrued charges and deferred income -€15,749
down €15,749 (-78.4%), from €20,080 to €4,331
- Trade debts -€6,789
down €6,789 (-97.5%), from €6,964 to €175
- Provisions -€5,225
down €5,225 (-8.8%), from €59,611 to €54,386
of which Deferred taxes: -€5,225
- Gross operating margin +€1,530
up €1,530 (+4.3%), from €35,233 to €36,763
- Financial charges -€1,018
down €1,018 (-18.1%), from €5,617 to €4,599
- Taxes +€771
up €771 (+11.2%), from €6,886 to €7,657
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 | €432,481 | €421,044 | -€11,437 | -2.6% |
| Fixed assets | 21/28 | €404,299 | €378,369 | -€25,930 | -6.4% |
| Tangible fixed assets | 22/27 | €404,299 | €378,369 | -€25,930 | -6.4% |
| Land and buildings | 22 | €404,299 | €378,369 | -€25,930 | -6.4% |
| Current assets | 29/58 | €28,182 | €42,675 | +€14,494 | +51.4% |
| Amounts receivable within one year | 40/41 | €5,554 | €25,297 | +€19,743 | +355.5% |
| Trade receivables | 40 | €3,440 | €3,440 | = | 0.0% |
| Other amounts receivable | 41 | €2,114 | €21,857 | +€19,743 | +934.0% |
| Cash at bank and in hand | 54/58 | €21,127 | €15,816 | -€5,311 | -25.1% |
| Deferred charges and accrued income | 490/1 | €1,501 | €1,563 | +€62 | +4.1% |
| Total equity and liabilities | 10/49 | €432,481 | €421,044 | -€11,437 | -2.6% |
| Equity | 10/15 | €305,050 | €304,183 | -€868 | -0.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €243,050 | €242,183 | -€868 | -0.4% |
| Tax-exempt reserves | 132 | €91,451 | €81,308 | -€10,143 | -11.1% |
| Distributable reserves | 133 | €151,600 | €160,875 | +€9,275 | +6.1% |
| Provisions and deferred taxes | 16 | €59,611 | €54,386 | -€5,225 | -8.8% |
| Provisions for liabilities and charges | 160/5 | €12,500 | €12,500 | = | 0.0% |
| Major repairs and maintenance | 162 | €12,500 | €12,500 | = | 0.0% |
| Deferred taxes | 168 | €47,111 | €41,886 | -€5,225 | -11.1% |
| Amounts payable | 17/49 | €67,819 | €62,476 | -€5,344 | -7.9% |
| Amounts payable within one year | 42/48 | €47,740 | €58,145 | +€10,405 | +21.8% |
| Trade debts | 44 | €6,964 | €175 | -€6,789 | -97.5% |
| Suppliers | 440/4 | €6,964 | €175 | -€6,789 | -97.5% |
| Other amounts payable | 47/48 | €40,775 | €57,969 | +€17,194 | +42.2% |
| Accrued charges and deferred income | 492/3 | €20,080 | €4,331 | -€15,749 | -78.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,930 | €25,930 | = | 0.0% |
| Other operating charges | 640/8 | €4,420 | €4,670 | +€249 | +5.6% |
| Gross operating margin | 9900 | €35,233 | €36,763 | +€1,530 | +4.3% |
| Operating profit (loss) | 9901 | €4,883 | €6,163 | +€1,281 | +26.2% |
| Financial charges | 65/66B | €5,617 | €4,599 | -€1,018 | -18.1% |
| Recurring financial charges | 65 | €5,617 | €4,599 | -€1,018 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | -€734 | €1,564 | +€2,299 | |
| Transfer from deferred taxes | 780 | €5,248 | €15,368 | +€10,120 | +192.8% |
| Income taxes | 67/77 | €6,886 | €7,657 | +€771 | +11.2% |
| Profit (loss) for the period | 9904 | -€2,373 | €9,275 | +€11,648 | |
| Transfer from tax-exempt reserves | 789 | €10,187 | - | -€10,187 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,815 | €9,275 | +€1,461 | +18.7% |
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 6 October 2026 via checked.be.