ULPE: what changed
Two fiscal 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.
ULPE
Largest movements
- Receivables within one year +€157,074
up €157,074 (+103.2%), from €152,240 to €309,315
of which Other amounts receivable: +€86,246
- Tangible fixed assets +€76,253
up €76,253 (+43.4%), from €175,571 to €251,825
of which Land and buildings: +€114,563
- Other debts +€127,812
up €127,812 (+130.0%), from €98,296 to €226,107
- Debts after one year +€68,194
up €68,194 (+60.5%), from €112,783 to €180,977
- Tax, wage and social debts +€23,145
up €23,145 (+88.9%), from €26,046 to €49,191
of which Taxes: +€11,974
- Trade debts +€8,681
up €8,681 (+3155.0%), from €275 to €8,956
- Current portion of long-term debt +€6,358
up €6,358 (+20.9%), from €30,448 to €36,806
- Gross operating margin +€26,253
up €26,253 (+17.3%), from €152,090 to €178,342
- Staff costs +€25,836
up €25,836 (+30.8%), from €83,916 to €109,752
- Depreciation +€16,653
up €16,653 (+68.3%), from €24,366 to €41,019
- Other operating charges +€7,621
up €7,621 (+223.5%), from €3,410 to €11,030
- Taxes +€3,340
up €3,340 (+70.1%), from €4,763 to €8,104
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.
Cash bridge derived
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 | €332,642 | €568,640 | +€235,998 | +70.9% |
| Fixed assets | 21/28 | €177,481 | €252,968 | +€75,486 | +42.5% |
| Intangible fixed assets | 21 | €1,910 | €1,143 | -€767 | -40.2% |
| Tangible fixed assets | 22/27 | €175,571 | €251,825 | +€76,253 | +43.4% |
| Land and buildings | 22 | - | €114,563 | +€114,563 | |
| Plant, machinery and equipment | 23 | €3,157 | €2,463 | -€694 | -22.0% |
| Furniture and vehicles | 24 | €172,414 | €134,798 | -€37,616 | -21.8% |
| Current assets | 29/58 | €155,160 | €315,672 | +€160,512 | +103.4% |
| Amounts receivable within one year | 40/41 | €152,240 | €309,315 | +€157,074 | +103.2% |
| Trade receivables | 40 | €152,188 | €223,017 | +€70,829 | +46.5% |
| Other amounts receivable | 41 | €53 | €86,298 | +€86,246 | +164277.6% |
| Cash at bank and in hand | 54/58 | €351 | €628 | +€276 | +78.6% |
| Deferred charges and accrued income | 490/1 | €2,568 | €5,730 | +€3,161 | +123.1% |
| Total equity and liabilities | 10/49 | €332,642 | €568,640 | +€235,998 | +70.9% |
| Equity | 10/15 | €64,794 | €66,603 | +€1,809 | +2.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €62,794 | €64,603 | +€1,809 | +2.9% |
| Distributable reserves | 133 | €62,794 | €64,603 | +€1,809 | +2.9% |
| Amounts payable | 17/49 | €267,847 | €502,037 | +€234,190 | +87.4% |
| Amounts payable after more than one year | 17 | €112,783 | €180,977 | +€68,194 | +60.5% |
| Financial debts | 170/4 | €112,783 | €180,977 | +€68,194 | +60.5% |
| Amounts payable within one year | 42/48 | €155,065 | €321,060 | +€165,995 | +107.0% |
| Current portion of amounts payable after more than one year | 42 | €30,448 | €36,806 | +€6,358 | +20.9% |
| Trade debts | 44 | €275 | €8,956 | +€8,681 | +3155.0% |
| Suppliers | 440/4 | €275 | €8,956 | +€8,681 | +3155.0% |
| Taxes, remuneration and social security | 45 | €26,046 | €49,191 | +€23,145 | +88.9% |
| Taxes | 450/3 | €26,046 | €38,020 | +€11,974 | +46.0% |
| Remuneration and social security | 454/9 | - | €11,171 | +€11,171 | |
| Other amounts payable | 47/48 | €98,296 | €226,107 | +€127,812 | +130.0% |
| Remuneration, social security and pensions | 62 | €83,916 | €109,752 | +€25,836 | +30.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,366 | €41,019 | +€16,653 | +68.3% |
| Other operating charges | 640/8 | €3,410 | €11,030 | +€7,621 | +223.5% |
| Non-recurring operating charges | 66A | €30,109 | - | -€30,109 | |
| Gross operating margin | 9900 | €152,090 | €178,342 | +€26,253 | +17.3% |
| Operating profit (loss) | 9901 | €10,289 | €16,541 | +€6,251 | +60.8% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €4,680 | €6,629 | +€1,948 | +41.6% |
| Recurring financial charges | 65 | €4,680 | €6,629 | +€1,948 | +41.6% |
| Profit (loss) for the period before taxes | 9903 | €5,609 | €9,912 | +€4,303 | +76.7% |
| Income taxes | 67/77 | €4,763 | €8,104 | +€3,340 | +70.1% |
| Profit (loss) for the period | 9904 | €846 | €1,809 | +€963 | +113.8% |
| Profit (loss) for the period to be appropriated | 9905 | €846 | €1,809 | +€963 | +113.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.