Ultima: 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.
Ultima
Largest movements
- Receivables within one year -€14,581
down €14,581 (-58.7%), from €24,840 to €10,259
of which Other amounts receivable: -€13,780
- Cash +€13,700
up €13,700 (+439.6%), from €3,117 to €16,817
mainly Receivables within one year (+€14,581) and Other debts (+€4,065)
- Deferred charges and accrued income +€1,311
up €1,311 (+538.0%), from €244 to €1,555
- Tangible fixed assets +€1,222
new in 2025: €1,222
- Other debts +€4,065
new in 2025: €4,065
- Tax, wage and social debts -€3,515
down €3,515 (-55.7%), from €6,306 to €2,791
- Trade debts +€660
up €660, from €0 to €660
- Gross operating margin +€2,737
up €2,737 (+59.4%), from €4,612 to €7,349
- Taxes +€1,028
up €1,028 (+62.7%), from €1,638 to €2,666
- Financial charges +€470
up €470 (+17.2%), from €2,728 to €3,197
- Other operating charges +€299
up €299 (+36.9%), from €810 to €1,109
- Financial income -€244
down €244 (-100.0%), from €244 to €0
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 | €28,200 | €29,852 | +€1,652 | +5.9% |
| Fixed assets | 21/28 | - | €1,222 | +€1,222 | |
| Tangible fixed assets | 22/27 | - | €1,222 | +€1,222 | |
| Furniture and vehicles | 24 | - | €1,222 | +€1,222 | |
| Current assets | 29/58 | €28,200 | €28,630 | +€430 | +1.5% |
| Amounts receivable within one year | 40/41 | €24,840 | €10,259 | -€14,581 | -58.7% |
| Trade receivables | 40 | €801 | €0 | -€801 | -100.0% |
| Other amounts receivable | 41 | €24,039 | €10,259 | -€13,780 | -57.3% |
| Cash at bank and in hand | 54/58 | €3,117 | €16,817 | +€13,700 | +439.6% |
| Deferred charges and accrued income | 490/1 | €244 | €1,555 | +€1,311 | +538.0% |
| Total equity and liabilities | 10/49 | €28,200 | €29,852 | +€1,652 | +5.9% |
| Equity | 10/15 | €21,644 | €21,898 | +€254 | +1.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,644 | €18,898 | +€254 | +1.4% |
| Distributable reserves | 133 | €18,644 | €18,898 | +€254 | +1.4% |
| Amounts payable | 17/49 | €6,556 | €7,954 | +€1,398 | +21.3% |
| Amounts payable within one year | 42/48 | €6,306 | €7,517 | +€1,211 | +19.2% |
| Trade debts | 44 | €0 | €660 | +€660 | |
| Suppliers | 440/4 | €0 | €660 | +€660 | |
| Taxes, remuneration and social security | 45 | €6,306 | €2,791 | -€3,515 | -55.7% |
| Taxes | 450/3 | €6,306 | €2,791 | -€3,515 | -55.7% |
| Other amounts payable | 47/48 | - | €4,065 | +€4,065 | |
| Accrued charges and deferred income | 492/3 | €250 | €437 | +€187 | +75.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €121 | +€121 | |
| Other operating charges | 640/8 | €810 | €1,109 | +€299 | +36.9% |
| Gross operating margin | 9900 | €4,612 | €7,349 | +€2,737 | +59.4% |
| Operating profit (loss) | 9901 | €3,802 | €6,118 | +€2,316 | +60.9% |
| Financial income | 75/76B | €244 | €0 | -€244 | -100.0% |
| Recurring financial income | 75 | €244 | €0 | -€244 | -100.0% |
| Financial charges | 65/66B | €2,728 | €3,197 | +€470 | +17.2% |
| Recurring financial charges | 65 | €2,728 | €3,197 | +€470 | +17.2% |
| Profit (loss) for the period before taxes | 9903 | €1,318 | €2,921 | +€1,603 | +121.7% |
| Income taxes | 67/77 | €1,638 | €2,666 | +€1,028 | +62.7% |
| Profit (loss) for the period | 9904 | -€321 | €254 | +€575 | |
| Profit (loss) for the period to be appropriated | 9905 | -€321 | €254 | +€575 |
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.