Ulrich Mgmt: 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.
Ulrich Mgmt
Largest movements
- Cash -€25,180
down €25,180 (-57.2%), from €44,013 to €18,834
mainly Net result for the year (-€52,950) and Debts after one year (-€16,248)
- Receivables within one year -€21,516
down €21,516 (-41.4%), from €52,022 to €30,506
of which Other amounts receivable: -€25,823
- Tangible fixed assets -€14,333
down €14,333 (-30.8%), from €46,609 to €32,277
of which Furniture and vehicles: -€12,328
- Deferred charges and accrued income -€1,517
down €1,517 (-53.1%), from €2,858 to €1,341
- Profit (loss) carried forward -€52,950
down €52,950 (-77.2%), from €68,607 to €15,657
- Debts after one year -€16,248
down €16,248 (-76.5%), from €21,231 to €4,983
- Other debts +€9,711
up €9,711 (+208%), from €4,666 to €14,377
- Trade debts -€3,895
down €3,895 (-82.8%), from €4,703 to €808
- Financial charges +€46,568
up €46,568 (+1,668%), from €2,792 to €49,360
of which Financial charges: +€48,024
- Provisions -€24,592
down €24,592, from €23,941 to -€651
- Gross operating margin +€3,336
up €3,336 (+38.0%), from €8,782 to €12,117
- Financial income -€1,331
down €1,331 (-73.4%), from €1,813 to €483
- Other operating charges +€885
up €885 (+199%), from €445 to €1,330
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 | €145,502 | €82,957 | -€62,545 | -43.0% |
| Fixed assets | 21/28 | €46,609 | €32,277 | -€14,333 | -30.8% |
| Tangible fixed assets | 22/27 | €46,609 | €32,277 | -€14,333 | -30.8% |
| Plant, machinery and equipment | 23 | €16,471 | €14,467 | -€2,005 | -12.2% |
| Furniture and vehicles | 24 | €30,138 | €17,810 | -€12,328 | -40.9% |
| Current assets | 29/58 | €98,893 | €50,681 | -€48,212 | -48.8% |
| Amounts receivable within one year | 40/41 | €52,022 | €30,506 | -€21,516 | -41.4% |
| Trade receivables | 40 | €10,109 | €14,417 | +€4,308 | +42.6% |
| Other amounts receivable | 41 | €41,912 | €16,089 | -€25,823 | -61.6% |
| Cash at bank and in hand | 54/58 | €44,013 | €18,834 | -€25,180 | -57.2% |
| Deferred charges and accrued income | 490/1 | €2,858 | €1,341 | -€1,517 | -53.1% |
| Total equity and liabilities | 10/49 | €145,502 | €82,957 | -€62,545 | -43.0% |
| Equity | 10/15 | €71,607 | €18,657 | -€52,950 | -73.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,607 | €15,657 | -€52,950 | -77.2% |
| Provisions and deferred taxes | 16 | €23,941 | €23,290 | -€651 | -2.7% |
| Provisions for liabilities and charges | 160/5 | €23,941 | €23,290 | -€651 | -2.7% |
| Other liabilities and charges | 164/5 | €23,941 | €23,290 | -€651 | -2.7% |
| Amounts payable | 17/49 | €49,954 | €41,010 | -€8,944 | -17.9% |
| Amounts payable after more than one year | 17 | €21,231 | €4,983 | -€16,248 | -76.5% |
| Financial debts | 170/4 | €21,231 | €4,983 | -€16,248 | -76.5% |
| Amounts payable within one year | 42/48 | €28,723 | €36,027 | +€7,304 | +25.4% |
| Current portion of amounts payable after more than one year | 42 | €15,850 | €16,248 | +€398 | +2.5% |
| Trade debts | 44 | €4,703 | €808 | -€3,895 | -82.8% |
| Suppliers | 440/4 | €4,703 | €808 | -€3,895 | -82.8% |
| Taxes, remuneration and social security | 45 | €3,504 | €4,594 | +€1,090 | +31.1% |
| Taxes | 450/3 | €2,366 | €2,686 | +€320 | +13.5% |
| Remuneration and social security | 454/9 | €1,138 | €1,908 | +€770 | +67.7% |
| Other amounts payable | 47/48 | €4,666 | €14,377 | +€9,711 | +208% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,371 | €15,372 | +€2 | 0.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €23,941 | -€651 | -€24,592 | |
| Other operating charges | 640/8 | €445 | €1,330 | +€885 | +199% |
| Gross operating margin | 9900 | €8,782 | €12,117 | +€3,336 | +38.0% |
| Operating profit (loss) | 9901 | -€30,975 | -€3,934 | +€27,041 | +87.3% |
| Financial income | 75/76B | €1,813 | €483 | -€1,331 | -73.4% |
| Recurring financial income | 75 | €1,813 | €483 | -€1,331 | -73.4% |
| Financial charges | 65/66B | €2,792 | €49,360 | +€46,568 | +1,668% |
| Recurring financial charges | 65 | €1,336 | €49,360 | +€48,024 | +3,595% |
| Non-recurring financial charges | 66B | €1,456 | - | -€1,456 | |
| Profit (loss) for the period before taxes | 9903 | -€31,954 | -€52,811 | -€20,858 | -65.3% |
| Income taxes | 67/77 | €148 | €138 | -€10 | -6.7% |
| Profit (loss) for the period | 9904 | -€32,102 | -€52,950 | -€20,848 | -64.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,102 | -€52,950 | -€20,848 | -64.9% |
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 24 October 2026 via checked.be.