ULIS 4.0.: 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.
ULIS 4.0.
Largest movements
- Tangible fixed assets +€2.0m
up €2.0m (+81.9%), from €2.5m to €4.5m
of which Plant, machinery and equipment: +€2.7m
- Receivables within one year +€343,280
up €343,280 (+177%), from €193,997 to €537,277
of which Other amounts receivable: +€375,567
- Cash -€221,570
down €221,570 (-41.9%), from €528,516 to €306,946
mainly Investment in fixed assets (net) (-€2.3m) and Receivables within one year (-€343,280)
- Stocks and contracts +€103,081
up €103,081 (+15.4%), from €669,388 to €772,469
- Debts after one year +€1.1m
up €1.1m (+104%), from €1.0m to €2.1m
- Trade debts +€485,521
up €485,521 (+591%), from €82,195 to €567,716
- Current portion of long-term debt +€336,560
up €336,560 (+113%), from €297,417 to €633,977
- Investment grants +€326,697
up €326,697 (+818%), from €39,942 to €366,639
- Gross operating margin -€168,650
down €168,650 (-9.7%), from €1.7m to €1.6m
- Taxes -€60,163
down €60,163 (-54.0%), from €111,506 to €51,343
- Financial charges +€42,218
up €42,218 (+82.0%), from €51,460 to €93,678
- Depreciation +€41,047
up €41,047 (+20.1%), from €204,338 to €245,385
- Staff costs +€34,844
up €34,844 (+3.1%), from €1.1m to €1.2m
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 | €3,946,493 | €6,197,593 | +€2.3m | +57.0% |
| Formation expenses | 20 | €40,340 | €17,153 | -€23,187 | -57.5% |
| Fixed assets | 21/28 | €2,500,021 | €4,546,944 | +€2.0m | +81.9% |
| Intangible fixed assets | 21 | €882 | €494 | -€388 | -44.0% |
| Tangible fixed assets | 22/27 | €2,499,051 | €4,546,362 | +€2.0m | +81.9% |
| Plant, machinery and equipment | 23 | €1,786,028 | €4,511,387 | +€2.7m | +153% |
| Furniture and vehicles | 24 | €32,713 | €34,975 | +€2,262 | +6.9% |
| Assets under construction and advance payments | 27 | €680,310 | - | -€680,310 | |
| Financial fixed assets | 28 | €88 | €88 | = | 0.0% |
| Current assets | 29/58 | €1,406,132 | €1,633,496 | +€227,364 | +16.2% |
| Stocks and contracts in progress | 3 | €669,388 | €772,469 | +€103,081 | +15.4% |
| Stocks | 30/36 | €669,388 | €772,469 | +€103,081 | +15.4% |
| Amounts receivable within one year | 40/41 | €193,997 | €537,277 | +€343,280 | +177% |
| Trade receivables | 40 | €178,836 | €146,549 | -€32,287 | -18.1% |
| Other amounts receivable | 41 | €15,161 | €390,728 | +€375,567 | +2,477% |
| Cash at bank and in hand | 54/58 | €528,516 | €306,946 | -€221,570 | -41.9% |
| Deferred charges and accrued income | 490/1 | €14,231 | €16,804 | +€2,573 | +18.1% |
| Total equity and liabilities | 10/49 | €3,946,493 | €6,197,593 | +€2.3m | +57.0% |
| Equity | 10/15 | €2,357,691 | €2,709,979 | +€352,288 | +14.9% |
| Contributions | 10/11 | €65,024 | €65,024 | = | 0.0% |
| Reserves | 13 | €641,852 | €641,852 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,502 | €6,502 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,502 | €6,502 | = | 0.0% |
| Tax-exempt reserves | 132 | €631,500 | €84,200 | -€547,300 | -86.7% |
| Distributable reserves | 133 | €3,850 | €551,150 | +€547,300 | +14,216% |
| Profit (loss) carried forward | 14 | €1,610,873 | €1,636,464 | +€25,591 | +1.6% |
| Investment grants | 15 | €39,942 | €366,639 | +€326,697 | +818% |
| Amounts payable | 17/49 | €1,588,802 | €3,487,614 | +€1.9m | +120% |
| Amounts payable after more than one year | 17 | €1,031,596 | €2,104,719 | +€1.1m | +104% |
| Financial debts | 170/4 | €1,031,596 | €2,104,719 | +€1.1m | +104% |
| Amounts payable within one year | 42/48 | €557,079 | €1,382,626 | +€825,547 | +148% |
| Current portion of amounts payable after more than one year | 42 | €297,417 | €633,977 | +€336,560 | +113% |
| Trade debts | 44 | €82,195 | €567,716 | +€485,521 | +591% |
| Suppliers | 440/4 | €82,195 | €567,716 | +€485,521 | +591% |
| Taxes, remuneration and social security | 45 | €176,342 | €179,808 | +€3,466 | +2.0% |
| Taxes | 450/3 | €51,497 | €35,245 | -€16,252 | -31.6% |
| Remuneration and social security | 454/9 | €124,845 | €144,563 | +€19,718 | +15.8% |
| Other amounts payable | 47/48 | €1,125 | €1,125 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €127 | €269 | +€142 | +112% |
| Remuneration, social security and pensions | 62 | €1,124,860 | €1,159,704 | +€34,844 | +3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €204,338 | €245,385 | +€41,047 | +20.1% |
| Other operating charges | 640/8 | €25,416 | €25,862 | +€446 | +1.8% |
| Gross operating margin | 9900 | €1,740,922 | €1,572,272 | -€168,650 | -9.7% |
| Operating profit (loss) | 9901 | €386,308 | €141,321 | -€244,987 | -63.4% |
| Financial income | 75/76B | €17,096 | €29,291 | +€12,195 | +71.3% |
| Recurring financial income | 75 | €17,096 | €29,291 | +€12,195 | +71.3% |
| Financial charges | 65/66B | €51,460 | €93,678 | +€42,218 | +82.0% |
| Recurring financial charges | 65 | €51,460 | €93,678 | +€42,218 | +82.0% |
| Profit (loss) for the period before taxes | 9903 | €351,944 | €76,934 | -€275,010 | -78.1% |
| Income taxes | 67/77 | €111,506 | €51,343 | -€60,163 | -54.0% |
| Profit (loss) for the period | 9904 | €240,438 | €25,591 | -€214,847 | -89.4% |
| Transfer from tax-exempt reserves | 789 | - | €547,300 | +€547,300 | |
| Profit (loss) for the period to be appropriated | 9905 | €240,438 | €572,891 | +€332,453 | +138% |
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 28 October 2026 via checked.be.