ULinia: 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.
ULinia
Largest movements
- Cash +€92,853
up €92,853 (+68.6%), from €135,385 to €228,238
mainly Trade debts (+€156,592) and Net result for the year (+€29,318)
- Stocks and contracts +€29,882
up €29,882 (+18.8%), from €158,920 to €188,802
of which Contracts in progress: +€31,506
- Intangible fixed assets +€19,995
up €19,995 (+1,955%), from €1,023 to €21,018
- Tangible fixed assets -€12,281
down €12,281 (-27.9%), from €44,074 to €31,793
of which Leasing and similar rights: -€8,251
- Trade debts +€156,592
up €156,592 (+152%), from €103,061 to €259,653
- Other debts -€14,787
down €14,787 (-35.1%), from €42,135 to €27,348
- Tax, wage and social debts -€6,927
down €6,927 (-22.3%), from €31,123 to €24,197
of which Taxes: -€7,719
- Gross operating margin -€54,329
down €54,329 (-11.6%), from €469,641 to €415,312
- Staff costs -€35,299
down €35,299 (-9.5%), from €371,932 to €336,633
- Write-downs +€12,529
new in 2025: €12,529
- Financial charges -€11,621
down €11,621 (-36.9%), from €31,489 to €19,869
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 | €570,042 | €692,046 | +€122,005 | +21.4% |
| Fixed assets | 21/28 | €45,097 | €52,812 | +€7,715 | +17.1% |
| Intangible fixed assets | 21 | €1,023 | €21,018 | +€19,995 | +1,955% |
| Tangible fixed assets | 22/27 | €44,074 | €31,793 | -€12,281 | -27.9% |
| Plant, machinery and equipment | 23 | €5,839 | €4,726 | -€1,113 | -19.1% |
| Furniture and vehicles | 24 | €8,593 | €5,676 | -€2,917 | -33.9% |
| Leasing and similar rights | 25 | €29,642 | €21,391 | -€8,251 | -27.8% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €524,945 | €639,235 | +€114,290 | +21.8% |
| Stocks and contracts in progress | 3 | €158,920 | €188,802 | +€29,882 | +18.8% |
| Stocks | 30/36 | €90,000 | €88,376 | -€1,624 | -1.8% |
| Contracts in progress | 37 | €68,920 | €100,426 | +€31,506 | +45.7% |
| Amounts receivable within one year | 40/41 | €222,271 | €217,255 | -€5,016 | -2.3% |
| Trade receivables | 40 | €187,660 | €176,464 | -€11,196 | -6.0% |
| Other amounts receivable | 41 | €34,611 | €40,791 | +€6,180 | +17.9% |
| Cash at bank and in hand | 54/58 | €135,385 | €228,238 | +€92,853 | +68.6% |
| Deferred charges and accrued income | 490/1 | €8,368 | €4,939 | -€3,429 | -41.0% |
| Total equity and liabilities | 10/49 | €570,042 | €692,046 | +€122,005 | +21.4% |
| Equity | 10/15 | €100,879 | €105,198 | +€4,318 | +4.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €80,879 | €85,198 | +€4,318 | +5.3% |
| Distributable reserves | 133 | €80,879 | €85,198 | +€4,318 | +5.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €469,162 | €586,849 | +€117,686 | +25.1% |
| Amounts payable after more than one year | 17 | €16,413 | €10,502 | -€5,911 | -36.0% |
| Financial debts | 170/4 | €16,413 | €10,502 | -€5,911 | -36.0% |
| Amounts payable within one year | 42/48 | €438,937 | €567,109 | +€128,172 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €12,617 | €5,911 | -€6,706 | -53.1% |
| Financial debts | 43 | €250,000 | €250,000 | = | 0.0% |
| Credit institutions | 430/8 | €250,000 | €250,000 | = | 0.0% |
| Trade debts | 44 | €103,061 | €259,653 | +€156,592 | +152% |
| Suppliers | 440/4 | €103,061 | €259,653 | +€156,592 | +152% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €31,123 | €24,197 | -€6,927 | -22.3% |
| Taxes | 450/3 | €14,396 | €6,678 | -€7,719 | -53.6% |
| Remuneration and social security | 454/9 | €16,727 | €17,519 | +€792 | +4.7% |
| Other amounts payable | 47/48 | €42,135 | €27,348 | -€14,787 | -35.1% |
| Accrued charges and deferred income | 492/3 | €13,812 | €9,238 | -€4,574 | -33.1% |
| Remuneration, social security and pensions | 62 | €371,932 | €336,633 | -€35,299 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,102 | €13,330 | +€229 | +1.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,529 | +€12,529 | |
| Other operating charges | 640/8 | €2,507 | €1,729 | -€778 | -31.0% |
| Non-recurring operating charges | 66A | €3,055 | €0 | -€3,055 | -100% |
| Gross operating margin | 9900 | €469,641 | €415,312 | -€54,329 | -11.6% |
| Operating profit (loss) | 9901 | €79,045 | €51,091 | -€27,954 | -35.4% |
| Financial income | 75/76B | €272 | €1,364 | +€1,092 | +402% |
| Recurring financial income | 75 | €272 | €1,364 | +€1,092 | +402% |
| Financial charges | 65/66B | €31,489 | €19,869 | -€11,621 | -36.9% |
| Recurring financial charges | 65 | €31,489 | €19,869 | -€11,621 | -36.9% |
| Profit (loss) for the period before taxes | 9903 | €47,828 | €32,586 | -€15,241 | -31.9% |
| Income taxes | 67/77 | €4,036 | €3,268 | -€768 | -19.0% |
| Profit (loss) for the period | 9904 | €43,792 | €29,318 | -€14,474 | -33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €43,792 | €29,318 | -€14,474 | -33.1% |
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 20 October 2026 via checked.be.