Ulixes: 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.
Ulixes
Largest movements
- Tangible fixed assets +€102,339
up €102,339 (+18.4%), from €556,066 to €658,405
- Revaluation surpluses +€116,986
new in 2025: €116,986
- Profit (loss) carried forward -€29,562
down €29,562 (-5.8%), from -€513,073 to -€542,634
- Short-term financial debts +€15,501
up €15,501 (+3.7%), from €414,187 to €429,687
- Gross operating margin -€8,846
down €8,846 (-42.7%), from €20,700 to €11,854
- Financial charges +€341
up €341 (+1.4%), from €24,552 to €24,894
- Other operating charges -€241
down €241 (-11.4%), from €2,116 to €1,875
- Taxes +€212
up €212, from -€212 to €0
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 | €557,634 | €660,155 | +€102,521 | +18.4% |
| Fixed assets | 21/28 | €556,066 | €658,405 | +€102,339 | +18.4% |
| Tangible fixed assets | 22/27 | €556,066 | €658,405 | +€102,339 | +18.4% |
| Land and buildings | 22 | €556,066 | €658,405 | +€102,339 | +18.4% |
| Current assets | 29/58 | €1,569 | €1,750 | +€181 | +11.6% |
| Amounts receivable within one year | 40/41 | €475 | €69 | -€406 | -85.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €475 | €69 | -€406 | -85.4% |
| Cash at bank and in hand | 54/58 | €1,093 | €1,681 | +€587 | +53.7% |
| Total equity and liabilities | 10/49 | €557,634 | €660,155 | +€102,521 | +18.4% |
| Equity | 10/15 | €117,723 | €205,148 | +€87,425 | +74.3% |
| Contributions | 10/11 | €621,197 | €621,197 | = | 0.0% |
| Capital | 10 | €473,290 | €473,290 | = | 0.0% |
| Issued capital | 100 | €473,290 | €473,290 | = | 0.0% |
| Contributions outside capital | 11 | €147,907 | €147,907 | = | 0.0% |
| Share premium | 1100/10 | €147,907 | €147,907 | = | 0.0% |
| Revaluation surpluses | 12 | - | €116,986 | +€116,986 | |
| Reserves | 13 | €9,598 | €9,598 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,598 | €9,598 | = | 0.0% |
| Legal reserve | 130 | €9,598 | €9,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€513,073 | -€542,634 | -€29,562 | -5.8% |
| Amounts payable | 17/49 | €439,912 | €455,007 | +€15,096 | +3.4% |
| Amounts payable within one year | 42/48 | €415,411 | €430,178 | +€14,767 | +3.6% |
| Financial debts | 43 | €414,187 | €429,687 | +€15,501 | +3.7% |
| Other loans | 439 | €414,187 | €429,687 | +€15,501 | +3.7% |
| Trade debts | 44 | €438 | €491 | +€53 | +12.2% |
| Suppliers | 440/4 | €438 | €491 | +€53 | +12.2% |
| Taxes, remuneration and social security | 45 | €787 | €0 | -€787 | -100% |
| Taxes | 450/3 | €787 | €0 | -€787 | -100% |
| Accrued charges and deferred income | 492/3 | €24,501 | €24,829 | +€328 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,647 | €14,647 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,116 | €1,875 | -€241 | -11.4% |
| Gross operating margin | 9900 | €20,700 | €11,854 | -€8,846 | -42.7% |
| Operating profit (loss) | 9901 | €3,936 | -€4,668 | -€8,604 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €24,552 | €24,894 | +€341 | +1.4% |
| Recurring financial charges | 65 | €24,552 | €24,894 | +€341 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | -€20,616 | -€29,562 | -€8,946 | -43.4% |
| Income taxes | 67/77 | -€212 | €0 | +€212 | |
| Profit (loss) for the period | 9904 | -€20,403 | -€29,562 | -€9,158 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,403 | -€29,562 | -€9,158 | -44.9% |
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 17 October 2026 via checked.be.