Ultim V: 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 V
Largest movements
- Tangible fixed assets -€36,706
down €36,706 (-6.5%), from €561,696 to €524,990
- Debts after one year -€20,555
down €20,555 (-13.3%), from €154,414 to €133,859
- Revaluation surpluses -€13,643
down €13,643 (-4.5%), from €300,142 to €286,499
- Reserves +€13,643
up €13,643 (+100%), from €13,643 to €27,286
- Profit (loss) carried forward -€13,403
down €13,403 (-20.4%), from -€65,648 to -€79,051
- Gross operating margin -€15,519
down €15,519 (-36.5%), from €42,525 to €27,006
- Depreciation +€590
up €590 (+1.6%), from €36,116 to €36,706
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 | €578,360 | €542,080 | -€36,279 | -6.3% |
| Fixed assets | 21/28 | €561,696 | €524,990 | -€36,706 | -6.5% |
| Tangible fixed assets | 22/27 | €561,696 | €524,990 | -€36,706 | -6.5% |
| Land and buildings | 22 | €561,696 | €524,990 | -€36,706 | -6.5% |
| Current assets | 29/58 | €16,664 | €17,090 | +€426 | +2.6% |
| Amounts receivable within one year | 40/41 | €1,410 | €661 | -€749 | -53.1% |
| Trade receivables | 40 | €1,410 | €647 | -€762 | -54.1% |
| Other amounts receivable | 41 | - | €14 | +€14 | |
| Current investments | 50/53 | €13,000 | €12,500 | -€500 | -3.8% |
| Cash at bank and in hand | 54/58 | €2,254 | €2,619 | +€365 | +16.2% |
| Deferred charges and accrued income | 490/1 | - | €1,310 | +€1,310 | |
| Total equity and liabilities | 10/49 | €578,360 | €542,080 | -€36,279 | -6.3% |
| Equity | 10/15 | €348,137 | €334,733 | -€13,403 | -3.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Revaluation surpluses | 12 | €300,142 | €286,499 | -€13,643 | -4.5% |
| Reserves | 13 | €13,643 | €27,286 | +€13,643 | +100% |
| Distributable reserves | 133 | €13,643 | €27,286 | +€13,643 | +100% |
| Profit (loss) carried forward | 14 | -€65,648 | -€79,051 | -€13,403 | -20.4% |
| Amounts payable | 17/49 | €230,223 | €207,347 | -€22,876 | -9.9% |
| Amounts payable after more than one year | 17 | €154,414 | €133,859 | -€20,555 | -13.3% |
| Financial debts | 170/4 | €154,414 | €133,859 | -€20,555 | -13.3% |
| Amounts payable within one year | 42/48 | €23,695 | €21,374 | -€2,321 | -9.8% |
| Current portion of amounts payable after more than one year | 42 | €20,325 | €20,555 | +€231 | +1.1% |
| Trade debts | 44 | €103 | €169 | +€67 | +65.0% |
| Suppliers | 440/4 | €103 | €169 | +€67 | +65.0% |
| Taxes, remuneration and social security | 45 | €3,267 | €649 | -€2,618 | -80.1% |
| Taxes | 450/3 | €3,267 | €649 | -€2,618 | -80.1% |
| Accrued charges and deferred income | 492/3 | €52,115 | €52,115 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,116 | €36,706 | +€590 | +1.6% |
| Other operating charges | 640/8 | €1,666 | €1,783 | +€117 | +7.0% |
| Gross operating margin | 9900 | €42,525 | €27,006 | -€15,519 | -36.5% |
| Operating profit (loss) | 9901 | €4,743 | -€11,483 | -€16,226 | |
| Financial income | 75/76B | €10 | €46 | +€36 | +340% |
| Recurring financial income | 75 | €10 | €46 | +€36 | +340% |
| Financial charges | 65/66B | €2,190 | €1,966 | -€224 | -10.2% |
| Recurring financial charges | 65 | €2,190 | €1,966 | -€224 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €2,563 | -€13,403 | -€15,967 | |
| Transfer from deferred taxes | 780 | €13,643 | €13,643 | = | 0.0% |
| Income taxes | 67/77 | €3 | - | -€3 | |
| Profit (loss) for the period | 9904 | €16,203 | €240 | -€15,963 | -98.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,203 | €240 | -€15,963 | -98.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.