ULM BAISY-THY: 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.
ULM BAISY-THY
Largest movements
- Tangible fixed assets +€156,040
up €156,040 (+6.7%), from €2.3m to €2.5m
of which Land and buildings: +€204,196
- Contributions +€219,824
up €219,824 (+18.6%), from €1.2m to €1.4m
- Debts after one year -€156,512
down €156,512 (-19.4%), from €805,507 to €648,996
- Advances received +€40,000
new in 2025: €40,000
- Profit (loss) carried forward +€32,909
up €32,909 (+13.7%), from €240,013 to €272,922
- Tax, wage and social debts +€28,578
up €28,578 (+626%), from €4,565 to €33,143
- Gross operating margin +€30,041
up €30,041 (+14.7%), from €204,153 to €234,194
- Depreciation +€11,372
up €11,372 (+7.5%), from €151,945 to €163,317
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 | €2,349,520 | €2,526,101 | +€176,581 | +7.5% |
| Fixed assets | 21/28 | €2,345,870 | €2,501,910 | +€156,040 | +6.7% |
| Tangible fixed assets | 22/27 | €2,345,870 | €2,501,910 | +€156,040 | +6.7% |
| Land and buildings | 22 | €1,791,540 | €1,995,736 | +€204,196 | +11.4% |
| Plant, machinery and equipment | 23 | - | €25,018 | +€25,018 | |
| Furniture and vehicles | 24 | €554,330 | €481,156 | -€73,174 | -13.2% |
| Current assets | 29/58 | €3,650 | €24,191 | +€20,541 | +563% |
| Amounts receivable within one year | 40/41 | €2,282 | €14,453 | +€12,171 | +533% |
| Trade receivables | 40 | €951 | €11,288 | +€10,338 | +1,088% |
| Other amounts receivable | 41 | €1,332 | €3,165 | +€1,833 | +138% |
| Cash at bank and in hand | 54/58 | €368 | €9,738 | +€9,370 | +2,547% |
| Deferred charges and accrued income | 490/1 | €1,000 | - | -€1,000 | |
| Total equity and liabilities | 10/49 | €2,349,520 | €2,526,101 | +€176,581 | +7.5% |
| Equity | 10/15 | €1,477,593 | €1,730,326 | +€252,733 | +17.1% |
| Contributions | 10/11 | €1,183,300 | €1,403,124 | +€219,824 | +18.6% |
| Reserves | 13 | €54,281 | €54,281 | = | 0.0% |
| Distributable reserves | 133 | €54,281 | €54,281 | = | 0.0% |
| Profit (loss) carried forward | 14 | €240,013 | €272,922 | +€32,909 | +13.7% |
| Amounts payable | 17/49 | €871,927 | €795,775 | -€76,152 | -8.7% |
| Amounts payable after more than one year | 17 | €805,507 | €648,996 | -€156,512 | -19.4% |
| Financial debts | 170/4 | €805,507 | €648,996 | -€156,512 | -19.4% |
| Amounts payable within one year | 42/48 | €66,420 | €146,255 | +€79,836 | +120% |
| Current portion of amounts payable after more than one year | 42 | €59,280 | €63,256 | +€3,976 | +6.7% |
| Trade debts | 44 | €2,574 | €9,856 | +€7,282 | +283% |
| Suppliers | 440/4 | €2,574 | €9,856 | +€7,282 | +283% |
| Advances received on contracts in progress | 46 | - | €40,000 | +€40,000 | |
| Taxes, remuneration and social security | 45 | €4,565 | €33,143 | +€28,578 | +626% |
| Taxes | 450/3 | €4,565 | €33,143 | +€28,578 | +626% |
| Accrued charges and deferred income | 492/3 | - | €524 | +€524 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €151,945 | €163,317 | +€11,372 | +7.5% |
| Other operating charges | 640/8 | €10,848 | €11,170 | +€322 | +3.0% |
| Gross operating margin | 9900 | €204,153 | €234,194 | +€30,041 | +14.7% |
| Operating profit (loss) | 9901 | €41,360 | €59,707 | +€18,346 | +44.4% |
| Financial charges | 65/66B | €17,266 | €18,403 | +€1,137 | +6.6% |
| Recurring financial charges | 65 | €17,266 | €18,403 | +€1,137 | +6.6% |
| Profit (loss) for the period before taxes | 9903 | €24,094 | €41,303 | +€17,209 | +71.4% |
| Income taxes | 67/77 | €7,668 | €8,395 | +€726 | +9.5% |
| Profit (loss) for the period | 9904 | €16,426 | €32,909 | +€16,483 | +100% |
| Profit (loss) for the period to be appropriated | 9905 | €16,426 | €32,909 | +€16,483 | +100% |
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 15 October 2026 via checked.be.