ULTIMO GROEP: 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.
ULTIMO GROEP
Largest movements
- Cash -€34,093
down €34,093 (-25.0%), from €136,119 to €102,026
mainly Net result for the year (-€43,658) and Trade debts (-€1,205)
- Tangible fixed assets -€9,854
down €9,854 (-49.8%), from €19,789 to €9,935
- Profit (loss) carried forward -€43,658
down €43,658 (-28.8%), from €151,834 to €108,176
- Gross operating margin +€7,480
up €7,480 (+13.7%), from -€54,739 to -€47,259
- Other operating charges +€5,594
up €5,594 (+287.5%), from €1,946 to €7,540
- Financial income -€3,569
down €3,569 (-13.9%), from €25,631 to €22,062
- Financial charges -€1,201
down €1,201 (-52.9%), from €2,268 to €1,067
- Taxes -€571
no longer reported in 2025 (was €571)
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 | €569,725 | €524,862 | -€44,863 | -7.9% |
| Fixed assets | 21/28 | €19,789 | €9,935 | -€9,854 | -49.8% |
| Tangible fixed assets | 22/27 | €19,789 | €9,935 | -€9,854 | -49.8% |
| Furniture and vehicles | 24 | €19,789 | €9,935 | -€9,854 | -49.8% |
| Current assets | 29/58 | €549,936 | €514,927 | -€35,009 | -6.4% |
| Amounts receivable within one year | 40/41 | €410,421 | €409,378 | -€1,043 | -0.3% |
| Trade receivables | 40 | - | €898 | +€898 | |
| Other amounts receivable | 41 | €410,421 | €408,480 | -€1,941 | -0.5% |
| Cash at bank and in hand | 54/58 | €136,119 | €102,026 | -€34,093 | -25.0% |
| Deferred charges and accrued income | 490/1 | €3,396 | €3,523 | +€128 | +3.8% |
| Total equity and liabilities | 10/49 | €569,725 | €524,862 | -€44,863 | -7.9% |
| Equity | 10/15 | €566,947 | €523,288 | -€43,658 | -7.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €415,013 | €415,013 | = | 0.0% |
| Distributable reserves | 133 | €415,013 | €415,013 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,834 | €108,176 | -€43,658 | -28.8% |
| Amounts payable | 17/49 | €2,778 | €1,573 | -€1,205 | -43.4% |
| Amounts payable within one year | 42/48 | €2,778 | €1,573 | -€1,205 | -43.4% |
| Trade debts | 44 | €2,778 | €1,573 | -€1,205 | -43.4% |
| Suppliers | 440/4 | €2,778 | €1,573 | -€1,205 | -43.4% |
| Non-recurring operating income | 76A | - | €618 | +€618 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,774 | €9,854 | +€81 | +0.8% |
| Other operating charges | 640/8 | €1,946 | €7,540 | +€5,594 | +287.5% |
| Gross operating margin | 9900 | -€54,739 | -€47,259 | +€7,480 | +13.7% |
| Operating profit (loss) | 9901 | -€66,459 | -€64,653 | +€1,806 | +2.7% |
| Financial income | 75/76B | €25,631 | €22,062 | -€3,569 | -13.9% |
| Recurring financial income | 75 | €25,631 | €22,062 | -€3,569 | -13.9% |
| Financial charges | 65/66B | €2,268 | €1,067 | -€1,201 | -52.9% |
| Recurring financial charges | 65 | €2,268 | €1,067 | -€1,201 | -52.9% |
| Profit (loss) for the period before taxes | 9903 | -€43,096 | -€43,658 | -€562 | -1.3% |
| Income taxes | 67/77 | €571 | - | -€571 | |
| Profit (loss) for the period | 9904 | -€43,667 | -€43,658 | +€9 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€43,667 | -€43,658 | +€9 | 0.0% |
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.