ULMUS: 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.
ULMUS
Largest movements
- Cash +€68,560
up €68,560 (+81.5%), from €84,120 to €152,680
mainly Net result for the year (+€64,465) and Deferred charges and accrued income (+€22,817)
- Deferred charges and accrued income -€22,817
down €22,817 (-95.6%), from €23,869 to €1,052
- Receivables within one year +€14,092
up €14,092 (+119%), from €11,811 to €25,903
- Tangible fixed assets -€11,690
down €11,690 (-23.2%), from €50,291 to €38,601
- Profit (loss) carried forward +€64,465
up €64,465 (+71.4%), from €90,292 to €154,757
- Tax, wage and social debts -€8,499
down €8,499 (-22.7%), from €37,471 to €28,972
of which Taxes: -€6,500
- Debts after one year -€8,259
down €8,259 (-29.4%), from €28,099 to €19,840
- Gross operating margin -€30,917
down €30,917 (-24.3%), from €127,301 to €96,384
- Taxes -€6,842
down €6,842 (-27.4%), from €24,995 to €18,153
- Depreciation +€2,779
up €2,779 (+31.2%), from €8,911 to €11,690
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 | €170,090 | €218,235 | +€48,145 | +28.3% |
| Fixed assets | 21/28 | €50,291 | €38,601 | -€11,690 | -23.2% |
| Tangible fixed assets | 22/27 | €50,291 | €38,601 | -€11,690 | -23.2% |
| Furniture and vehicles | 24 | €50,291 | €38,601 | -€11,690 | -23.2% |
| Current assets | 29/58 | €119,799 | €179,634 | +€59,835 | +49.9% |
| Amounts receivable within one year | 40/41 | €11,811 | €25,903 | +€14,092 | +119% |
| Trade receivables | 40 | €11,811 | €25,903 | +€14,092 | +119% |
| Cash at bank and in hand | 54/58 | €84,120 | €152,680 | +€68,560 | +81.5% |
| Deferred charges and accrued income | 490/1 | €23,869 | €1,052 | -€22,817 | -95.6% |
| Total equity and liabilities | 10/49 | €170,090 | €218,235 | +€48,145 | +28.3% |
| Equity | 10/15 | €92,792 | €157,257 | +€64,465 | +69.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €90,292 | €154,757 | +€64,465 | +71.4% |
| Amounts payable | 17/49 | €77,298 | €60,978 | -€16,320 | -21.1% |
| Amounts payable after more than one year | 17 | €28,099 | €19,840 | -€8,259 | -29.4% |
| Financial debts | 170/4 | €28,099 | €19,840 | -€8,259 | -29.4% |
| Amounts payable within one year | 42/48 | €48,952 | €40,971 | -€7,982 | -16.3% |
| Current portion of amounts payable after more than one year | 42 | €7,933 | €8,259 | +€325 | +4.1% |
| Trade debts | 44 | €208 | €25 | -€183 | -88.0% |
| Suppliers | 440/4 | €208 | €25 | -€183 | -88.0% |
| Taxes, remuneration and social security | 45 | €37,471 | €28,972 | -€8,499 | -22.7% |
| Taxes | 450/3 | €35,473 | €28,972 | -€6,500 | -18.3% |
| Remuneration and social security | 454/9 | €1,998 | - | -€1,998 | |
| Other amounts payable | 47/48 | €3,340 | €3,715 | +€375 | +11.2% |
| Accrued charges and deferred income | 492/3 | €247 | €167 | -€80 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,911 | €11,690 | +€2,779 | +31.2% |
| Other operating charges | 640/8 | €1,404 | €599 | -€805 | -57.3% |
| Gross operating margin | 9900 | €127,301 | €96,384 | -€30,917 | -24.3% |
| Operating profit (loss) | 9901 | €116,986 | €84,096 | -€32,890 | -28.1% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €1,705 | €1,477 | -€228 | -13.4% |
| Recurring financial charges | 65 | €1,705 | €1,477 | -€228 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €115,286 | €82,618 | -€32,668 | -28.3% |
| Income taxes | 67/77 | €24,995 | €18,153 | -€6,842 | -27.4% |
| Profit (loss) for the period | 9904 | €90,292 | €64,465 | -€25,826 | -28.6% |
| Profit (loss) for the period to be appropriated | 9905 | €90,292 | €64,465 | -€25,826 | -28.6% |
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 29 October 2026 via checked.be.