Ultimate: 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.
Ultimate
Largest movements
- Financial fixed assets +€9,000
new in 2025: €9,000
- Receivables within one year +€8,991
up €8,991 (+61.3%), from €14,670 to €23,662
of which Other amounts receivable: +€6,916
- Tangible fixed assets -€6,647
down €6,647 (-14.7%), from €45,120 to €38,473
of which Leasing and similar rights: -€9,057
- Cash +€5,853
up €5,853 (+8.2%), from €71,287 to €77,141
mainly Net result for the year (+€30,110) and Depreciation (+€11,361)
- Reserves +€30,110
up €30,110 (+52.9%), from €56,905 to €87,016
- Debts after one year -€8,151
down €8,151 (-27.0%), from €30,214 to €22,063
- Accrued charges and deferred income +€5,000
new in 2025: €5,000
- Tax, wage and social debts -€4,794
down €4,794 (-20.0%), from €23,946 to €19,152
- Trade debts -€2,760
down €2,760 (-40.6%), from €6,805 to €4,045
- Gross operating margin -€22,455
down €22,455 (-28.0%), from €80,328 to €57,872
- Depreciation +€6,579
up €6,579 (+137.6%), from €4,781 to €11,361
- Taxes -€2,570
down €2,570 (-16.3%), from €15,795 to €13,225
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 | €132,630 | €150,426 | +€17,796 | +13.4% |
| Fixed assets | 21/28 | €45,120 | €47,473 | +€2,353 | +5.2% |
| Tangible fixed assets | 22/27 | €45,120 | €38,473 | -€6,647 | -14.7% |
| Plant, machinery and equipment | 23 | €1,675 | €2,512 | +€837 | +50.0% |
| Furniture and vehicles | 24 | €1,970 | €3,542 | +€1,573 | +79.8% |
| Leasing and similar rights | 25 | €41,476 | €32,418 | -€9,057 | -21.8% |
| Financial fixed assets | 28 | - | €9,000 | +€9,000 | |
| Current assets | 29/58 | €87,510 | €102,954 | +€15,444 | +17.6% |
| Amounts receivable within one year | 40/41 | €14,670 | €23,662 | +€8,991 | +61.3% |
| Trade receivables | 40 | €14,670 | €16,746 | +€2,075 | +14.1% |
| Other amounts receivable | 41 | - | €6,916 | +€6,916 | |
| Cash at bank and in hand | 54/58 | €71,287 | €77,141 | +€5,853 | +8.2% |
| Deferred charges and accrued income | 490/1 | €1,552 | €2,152 | +€600 | +38.6% |
| Total equity and liabilities | 10/49 | €132,630 | €150,426 | +€17,796 | +13.4% |
| Equity | 10/15 | €61,905 | €92,016 | +€30,110 | +48.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €56,905 | €87,016 | +€30,110 | +52.9% |
| Distributable reserves | 133 | €56,905 | €87,016 | +€30,110 | +52.9% |
| Amounts payable | 17/49 | €70,725 | €58,411 | -€12,314 | -17.4% |
| Amounts payable after more than one year | 17 | €30,214 | €22,063 | -€8,151 | -27.0% |
| Financial debts | 170/4 | €30,214 | €22,063 | -€8,151 | -27.0% |
| Amounts payable within one year | 42/48 | €40,511 | €31,348 | -€9,163 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €7,791 | €8,151 | +€360 | +4.6% |
| Trade debts | 44 | €6,805 | €4,045 | -€2,760 | -40.6% |
| Suppliers | 440/4 | €6,805 | €4,045 | -€2,760 | -40.6% |
| Taxes, remuneration and social security | 45 | €23,946 | €19,152 | -€4,794 | -20.0% |
| Taxes | 450/3 | €23,946 | €19,152 | -€4,794 | -20.0% |
| Other amounts payable | 47/48 | €1,969 | €0 | -€1,969 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,781 | €11,361 | +€6,579 | +137.6% |
| Other operating charges | 640/8 | €1,663 | €1,324 | -€339 | -20.4% |
| Gross operating margin | 9900 | €80,328 | €57,872 | -€22,455 | -28.0% |
| Operating profit (loss) | 9901 | €73,883 | €45,188 | -€28,696 | -38.8% |
| Financial income | 75/76B | €4 | €0 | -€4 | -92.0% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -99.7% |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €1,187 | €1,853 | +€666 | +56.1% |
| Recurring financial charges | 65 | €1,187 | €1,853 | +€666 | +56.1% |
| Profit (loss) for the period before taxes | 9903 | €72,700 | €43,335 | -€29,365 | -40.4% |
| Income taxes | 67/77 | €15,795 | €13,225 | -€2,570 | -16.3% |
| Profit (loss) for the period | 9904 | €56,905 | €30,110 | -€26,795 | -47.1% |
| Profit (loss) for the period to be appropriated | 9905 | €56,905 | €30,110 | -€26,795 | -47.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.