Ulivo: 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.
Ulivo
Largest movements
- Cash +€136,638
up €136,638 (+684%), from €19,984 to €156,623
mainly Other debts (+€255,435) and Net result for the year (+€134,820)
- Current investments +€7,873
up €7,873 (+2.0%), from €400,000 to €407,873
- Other debts +€255,435
up €255,435 (+893%), from €28,601 to €284,036
- Profit (loss) carried forward -€68,442
down €68,442 (-27.9%), from €245,362 to €176,920
- Reserves -€42,100
down €42,100 (-18.7%), from €224,566 to €182,466
of which Tax-exempt reserves: -€42,100
- Tax, wage and social debts -€11,455
down €11,455 (-64.8%), from €17,670 to €6,215
of which Remuneration and social security: -€16,570
- Financial income -€95,577
down €95,577 (-92.9%), from €102,899 to €7,322
- Financial charges -€90,972
down €90,972 (-90.1%), from €101,018 to €10,045
- Gross operating margin +€29,522
up €29,522 (+17.6%), from €168,190 to €197,712
- Taxes +€11,125
up €11,125 (+30.1%), from €37,000 to €48,125
- Depreciation +€3,300
up €3,300 (+40.5%), from €8,149 to €11,449
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 | €518,842 | €656,986 | +€138,145 | +26.6% |
| Fixed assets | 21/28 | €31,943 | €27,211 | -€4,731 | -14.8% |
| Tangible fixed assets | 22/27 | €31,943 | €27,211 | -€4,731 | -14.8% |
| Furniture and vehicles | 24 | €31,943 | €27,211 | -€4,731 | -14.8% |
| Current assets | 29/58 | €486,899 | €629,775 | +€142,876 | +29.3% |
| Amounts receivable within one year | 40/41 | €64,166 | €65,279 | +€1,113 | +1.7% |
| Trade receivables | 40 | €62,159 | €63,976 | +€1,817 | +2.9% |
| Other amounts receivable | 41 | €2,007 | €1,303 | -€704 | -35.1% |
| Current investments | 50/53 | €400,000 | €407,873 | +€7,873 | +2.0% |
| Cash at bank and in hand | 54/58 | €19,984 | €156,623 | +€136,638 | +684% |
| Deferred charges and accrued income | 490/1 | €2,748 | €0 | -€2,748 | -100% |
| Total equity and liabilities | 10/49 | €518,842 | €656,986 | +€138,145 | +26.6% |
| Equity | 10/15 | €470,928 | €360,387 | -€110,542 | -23.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €224,566 | €182,466 | -€42,100 | -18.7% |
| Tax-exempt reserves | 132 | €42,100 | €0 | -€42,100 | -100% |
| Distributable reserves | 133 | €182,466 | €182,466 | = | 0.0% |
| Profit (loss) carried forward | 14 | €245,362 | €176,920 | -€68,442 | -27.9% |
| Amounts payable | 17/49 | €47,913 | €296,600 | +€248,686 | +519% |
| Amounts payable within one year | 42/48 | €47,745 | €295,968 | +€248,222 | +520% |
| Trade debts | 44 | €1,475 | €5,717 | +€4,242 | +288% |
| Suppliers | 440/4 | €1,475 | €5,717 | +€4,242 | +288% |
| Taxes, remuneration and social security | 45 | €17,670 | €6,215 | -€11,455 | -64.8% |
| Taxes | 450/3 | €1,100 | €6,215 | +€5,115 | +465% |
| Remuneration and social security | 454/9 | €16,570 | €0 | -€16,570 | -100% |
| Other amounts payable | 47/48 | €28,601 | €284,036 | +€255,435 | +893% |
| Accrued charges and deferred income | 492/3 | €168 | €632 | +€464 | +276% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,149 | €11,449 | +€3,300 | +40.5% |
| Other operating charges | 640/8 | €577 | €593 | +€16 | +2.8% |
| Gross operating margin | 9900 | €168,190 | €197,712 | +€29,522 | +17.6% |
| Operating profit (loss) | 9901 | €159,464 | €185,670 | +€26,206 | +16.4% |
| Financial income | 75/76B | €102,899 | €7,322 | -€95,577 | -92.9% |
| Recurring financial income | 75 | €102,899 | €7,322 | -€95,577 | -92.9% |
| Financial charges | 65/66B | €101,018 | €10,045 | -€90,972 | -90.1% |
| Recurring financial charges | 65 | €101,018 | €10,045 | -€90,972 | -90.1% |
| Profit (loss) for the period before taxes | 9903 | €161,345 | €182,946 | +€21,601 | +13.4% |
| Income taxes | 67/77 | €37,000 | €48,125 | +€11,125 | +30.1% |
| Profit (loss) for the period | 9904 | €124,345 | €134,820 | +€10,475 | +8.4% |
| Transfer from tax-exempt reserves | 789 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €124,345 | €176,920 | +€52,575 | +42.3% |
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 27 October 2026 via checked.be.