ULPIA: 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.
ULPIA
Largest movements
- Cash +€19,869
up €19,869 (+3,732%), from €532 to €20,402
mainly Other debts (+€40,480) and Receivables within one year (+€11,045)
- Receivables within one year -€11,045
down €11,045 (-51.9%), from €21,269 to €10,224
- Other debts +€40,480
up €40,480 (+269,867%), from €15 to €40,495
- Profit (loss) carried forward -€39,155
down €39,155 (-327%), from -€11,964 to -€51,119
- Short-term financial debts +€7,500
new in 2025: €7,500
- Gross operating margin -€27,134
down €27,134 (-236%), from -€11,519 to -€38,653
- Purchases and services +€27,134
up €27,134 (+236%), from €11,519 to €38,653
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 | €168,051 | €176,876 | +€8,825 | +5.3% |
| Current assets | 29/58 | €168,051 | €176,876 | +€8,825 | +5.3% |
| Stocks and contracts in progress | 3 | €146,250 | €146,250 | = | 0.0% |
| Stocks | 30/36 | €146,250 | €146,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,269 | €10,224 | -€11,045 | -51.9% |
| Other amounts receivable | 41 | €21,269 | €10,224 | -€11,045 | -51.9% |
| Cash at bank and in hand | 54/58 | €532 | €20,402 | +€19,869 | +3,732% |
| Total equity and liabilities | 10/49 | €168,051 | €176,876 | +€8,825 | +5.3% |
| Equity | 10/15 | €168,036 | €128,881 | -€39,155 | -23.3% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,964 | -€51,119 | -€39,155 | -327% |
| Amounts payable | 17/49 | €15 | €47,995 | +€47,980 | +319,867% |
| Amounts payable within one year | 42/48 | €15 | €47,995 | +€47,980 | +319,867% |
| Financial debts | 43 | - | €7,500 | +€7,500 | |
| Other loans | 439 | - | €7,500 | +€7,500 | |
| Other amounts payable | 47/48 | €15 | €40,495 | +€40,480 | +269,867% |
| Goods, raw materials, services and sundry goods | 60/61 | €11,519 | €38,653 | +€27,134 | +236% |
| Other operating charges | 640/8 | €387 | €430 | +€42 | +10.9% |
| Gross operating margin | 9900 | -€11,519 | -€38,653 | -€27,134 | -236% |
| Operating profit (loss) | 9901 | -€11,907 | -€39,083 | -€27,177 | -228% |
| Financial charges | 65/66B | €57 | €72 | +€15 | +25.4% |
| Recurring financial charges | 65 | €57 | €72 | +€15 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,964 | -€39,155 | -€27,191 | -227% |
| Profit (loss) for the period | 9904 | -€11,964 | -€39,155 | -€27,191 | -227% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,964 | -€39,155 | -€27,191 | -227% |
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.