ULTIMMO: 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.
ULTIMMO
Largest movements
- Receivables within one year +€30,700
up €30,700 (+202%), from €15,174 to €45,875
of which Trade receivables: +€29,607
- Cash -€17,289
down €17,289 (-64.6%), from €26,771 to €9,482
mainly Receivables within one year (-€30,700) and Debts after one year (-€8,029)
- Tangible fixed assets -€10,162
down €10,162 (-17.5%), from €58,130 to €47,968
of which Other tangible fixed assets: -€9,267
- Deferred charges and accrued income -€1,320
down €1,320 (-44.7%), from €2,950 to €1,631
- Debts after one year -€8,029
down €8,029 (-18.1%), from €44,282 to €36,253
- Tax, wage and social debts +€4,409
up €4,409 (+2,007%), from €220 to €4,628
- Trade debts +€3,856
up €3,856 (+78.1%), from €4,935 to €8,791
- Profit (loss) carried forward +€2,136
up €2,136 (+5.7%), from €37,592 to €39,728
- Gross operating margin -€2,741
down €2,741 (-12.5%), from €22,020 to €19,278
- Other operating charges +€2,036
up €2,036 (+508%), from €401 to €2,437
- Depreciation -€1,201
down €1,201 (-10.6%), from €11,363 to €10,162
- Taxes -€623
down €623 (-27.6%), from €2,256 to €1,632
- Financial charges -€289
down €289 (-8.9%), from €3,265 to €2,976
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 | €103,025 | €104,955 | +€1,930 | +1.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €58,130 | €47,968 | -€10,162 | -17.5% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €58,130 | €47,968 | -€10,162 | -17.5% |
| Plant, machinery and equipment | 23 | €312 | €0 | -€312 | -100% |
| Furniture and vehicles | 24 | €1,731 | €1,149 | -€582 | -33.6% |
| Other tangible fixed assets | 26 | €56,087 | €46,819 | -€9,267 | -16.5% |
| Current assets | 29/58 | €44,895 | €56,987 | +€12,092 | +26.9% |
| Amounts receivable within one year | 40/41 | €15,174 | €45,875 | +€30,700 | +202% |
| Trade receivables | 40 | €13,120 | €42,727 | +€29,607 | +226% |
| Other amounts receivable | 41 | €2,054 | €3,148 | +€1,094 | +53.2% |
| Cash at bank and in hand | 54/58 | €26,771 | €9,482 | -€17,289 | -64.6% |
| Deferred charges and accrued income | 490/1 | €2,950 | €1,631 | -€1,320 | -44.7% |
| Total equity and liabilities | 10/49 | €103,025 | €104,955 | +€1,930 | +1.9% |
| Equity | 10/15 | €44,046 | €46,181 | +€2,136 | +4.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €254 | €254 | = | 0.0% |
| Non-distributable reserves | 130/1 | €254 | €254 | = | 0.0% |
| Reserves not available under the articles | 1311 | €254 | €254 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,592 | €39,728 | +€2,136 | +5.7% |
| Amounts payable | 17/49 | €58,979 | €58,774 | -€206 | -0.3% |
| Amounts payable after more than one year | 17 | €44,282 | €36,253 | -€8,029 | -18.1% |
| Financial debts | 170/4 | €44,282 | €36,253 | -€8,029 | -18.1% |
| Amounts payable within one year | 42/48 | €14,698 | €22,521 | +€7,823 | +53.2% |
| Current portion of amounts payable after more than one year | 42 | €7,846 | €8,029 | +€182 | +2.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €4,935 | €8,791 | +€3,856 | +78.1% |
| Suppliers | 440/4 | €4,935 | €8,791 | +€3,856 | +78.1% |
| Taxes, remuneration and social security | 45 | €220 | €4,628 | +€4,409 | +2,007% |
| Taxes | 450/3 | €220 | €4,628 | +€4,409 | +2,007% |
| Other amounts payable | 47/48 | €1,697 | €1,073 | -€624 | -36.8% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | = | |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,363 | €10,162 | -€1,201 | -10.6% |
| Other operating charges | 640/8 | €401 | €2,437 | +€2,036 | +508% |
| Operating charges capitalised as restructuring costs | 649 | €0 | - | = | |
| Gross operating margin | 9900 | €22,020 | €19,278 | -€2,741 | -12.5% |
| Operating profit (loss) | 9901 | €10,256 | €6,680 | -€3,577 | -34.9% |
| Financial income | 75/76B | €6 | €65 | +€59 | +1,073% |
| Recurring financial income | 75 | €6 | €65 | +€59 | +1,073% |
| Financial charges | 65/66B | €3,265 | €2,976 | -€289 | -8.9% |
| Recurring financial charges | 65 | €3,265 | €2,976 | -€289 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | €6,997 | €3,768 | -€3,229 | -46.1% |
| Income taxes | 67/77 | €2,256 | €1,632 | -€623 | -27.6% |
| Profit (loss) for the period | 9904 | €4,741 | €2,136 | -€2,606 | -55.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,741 | €2,136 | -€2,606 | -55.0% |
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 18 October 2026 via checked.be.