Ultim B: 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.
Ultim B
Largest movements
- Cash -€30,252
down €30,252 (-51.5%), from €58,782 to €28,531
mainly Net result for the year (-€30,571) and Receivables within one year (-€13,415)
- Receivables within one year +€13,415
up €13,415 (+867.0%), from €1,547 to €14,962
of which Trade receivables: +€11,213
- Tangible fixed assets -€6,841
down €6,841 (-13.1%), from €52,069 to €45,228
of which Furniture and vehicles: -€12,186
- Profit (loss) carried forward -€30,571
new in 2025: -€30,571
- Other debts +€3,777
new in 2025: €3,777
- Tax, wage and social debts +€3,603
up €3,603 (+44.8%), from €8,047 to €11,650
- Gross operating margin -€38,523
down €38,523, from €28,160 to -€10,363
- Depreciation +€2,188
up €2,188 (+20.2%), from €10,836 to €13,024
- Financial income -€589
down €589 (-30.9%), from €1,908 to €1,319
- Taxes +€397
up €397 (+5.6%), from €7,063 to €7,459
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 | €112,570 | €88,721 | -€23,849 | -21.2% |
| Fixed assets | 21/28 | €52,069 | €45,228 | -€6,841 | -13.1% |
| Tangible fixed assets | 22/27 | €52,069 | €45,228 | -€6,841 | -13.1% |
| Plant, machinery and equipment | 23 | €1,028 | €3,436 | +€2,408 | +234.3% |
| Furniture and vehicles | 24 | €48,541 | €36,355 | -€12,186 | -25.1% |
| Other tangible fixed assets | 26 | €2,500 | €5,436 | +€2,936 | +117.5% |
| Current assets | 29/58 | €60,500 | €43,493 | -€17,008 | -28.1% |
| Amounts receivable within one year | 40/41 | €1,547 | €14,962 | +€13,415 | +867.0% |
| Trade receivables | 40 | €892 | €12,106 | +€11,213 | +1256.8% |
| Other amounts receivable | 41 | €655 | €2,857 | +€2,202 | +336.1% |
| Cash at bank and in hand | 54/58 | €58,782 | €28,531 | -€30,252 | -51.5% |
| Deferred charges and accrued income | 490/1 | €171 | €0 | -€171 | -100.0% |
| Total equity and liabilities | 10/49 | €112,570 | €88,721 | -€23,849 | -21.2% |
| Equity | 10/15 | €102,641 | €72,070 | -€30,571 | -29.8% |
| Reserves | 13 | €102,641 | €102,641 | = | 0.0% |
| Distributable reserves | 133 | €102,641 | €102,641 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€30,571 | -€30,571 | |
| Amounts payable | 17/49 | €9,928 | €16,651 | +€6,723 | +67.7% |
| Amounts payable within one year | 42/48 | €9,928 | €16,651 | +€6,723 | +67.7% |
| Financial debts | 43 | €560 | €824 | +€265 | +47.3% |
| Credit institutions | 430/8 | €560 | €824 | +€265 | +47.3% |
| Trade debts | 44 | €1,321 | €400 | -€921 | -69.7% |
| Suppliers | 440/4 | €1,321 | €400 | -€921 | -69.7% |
| Taxes, remuneration and social security | 45 | €8,047 | €11,650 | +€3,603 | +44.8% |
| Taxes | 450/3 | €8,047 | €11,650 | +€3,603 | +44.8% |
| Other amounts payable | 47/48 | - | €3,777 | +€3,777 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,836 | €13,024 | +€2,188 | +20.2% |
| Other operating charges | 640/8 | €914 | €905 | -€9 | -1.0% |
| Gross operating margin | 9900 | €28,160 | -€10,363 | -€38,523 | |
| Operating profit (loss) | 9901 | €16,410 | -€24,292 | -€40,702 | |
| Financial income | 75/76B | €1,908 | €1,319 | -€589 | -30.9% |
| Recurring financial income | 75 | €1,908 | €1,319 | -€589 | -30.9% |
| Financial charges | 65/66B | €137 | €140 | +€2 | +1.5% |
| Recurring financial charges | 65 | €137 | €140 | +€2 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €18,181 | -€23,112 | -€41,293 | |
| Income taxes | 67/77 | €7,063 | €7,459 | +€397 | +5.6% |
| Profit (loss) for the period | 9904 | €11,118 | -€30,571 | -€41,690 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,118 | -€30,571 | -€41,690 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.