Ultimo Plus: 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 Plus
Largest movements
- Cash -€54,891
down €54,891 (-36.2%), from €151,710 to €96,819
mainly Other debts (-€56,680) and Investment in fixed assets (net) (-€41,772)
- Tangible fixed assets +€36,530
up €36,530, from €0 to €36,530
- Receivables within one year +€4,689
up €4,689 (+82.0%), from €5,717 to €10,407
of which Trade receivables: +€5,426
- Other debts -€56,680
down €56,680 (-94.3%), from €60,082 to €3,402
- Reserves +€18,245
up €18,245 (+8.0%), from €227,725 to €245,970
- Debts after one year +€18,160
new in 2025: €18,160
- Current portion of long-term debt +€7,124
new in 2025: €7,124
- Gross operating margin +€16,184
up €16,184 (+124.0%), from €13,051 to €29,236
- Depreciation +€4,854
up €4,854 (+1252.9%), from €387 to €5,241
- Taxes +€2,851
up €2,851 (+60.7%), from €4,693 to €7,543
- Financial charges +€588
up €588 (+275.5%), from €213 to €801
- Other operating charges +€301
up €301 (+41.4%), from €727 to €1,027
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 | €291,489 | €278,130 | -€13,358 | -4.6% |
| Fixed assets | 21/28 | €0 | €36,530 | +€36,530 | |
| Tangible fixed assets | 22/27 | €0 | €36,530 | +€36,530 | |
| Furniture and vehicles | 24 | €0 | €36,530 | +€36,530 | |
| Current assets | 29/58 | €291,489 | €241,600 | -€49,888 | -17.1% |
| Amounts receivable within one year | 40/41 | €5,717 | €10,407 | +€4,689 | +82.0% |
| Trade receivables | 40 | €3,998 | €9,424 | +€5,426 | +135.7% |
| Other amounts receivable | 41 | €1,720 | €983 | -€737 | -42.8% |
| Current investments | 50/53 | €125,000 | €125,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €151,710 | €96,819 | -€54,891 | -36.2% |
| Deferred charges and accrued income | 490/1 | €9,062 | €9,375 | +€313 | +3.5% |
| Total equity and liabilities | 10/49 | €291,489 | €278,130 | -€13,358 | -4.6% |
| Equity | 10/15 | €227,725 | €245,970 | +€18,245 | +8.0% |
| Reserves | 13 | €227,725 | €245,970 | +€18,245 | +8.0% |
| Distributable reserves | 133 | €227,725 | €245,970 | +€18,245 | +8.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €63,764 | €32,160 | -€31,603 | -49.6% |
| Amounts payable after more than one year | 17 | - | €18,160 | +€18,160 | |
| Financial debts | 170/4 | - | €18,160 | +€18,160 | |
| Amounts payable within one year | 42/48 | €63,512 | €13,738 | -€49,774 | -78.4% |
| Current portion of amounts payable after more than one year | 42 | - | €7,124 | +€7,124 | |
| Trade debts | 44 | €1,853 | €269 | -€1,584 | -85.5% |
| Suppliers | 440/4 | €1,853 | €269 | -€1,584 | -85.5% |
| Taxes, remuneration and social security | 45 | €1,576 | €2,942 | +€1,365 | +86.6% |
| Taxes | 450/3 | €1,576 | €2,942 | +€1,365 | +86.6% |
| Other amounts payable | 47/48 | €60,082 | €3,402 | -€56,680 | -94.3% |
| Accrued charges and deferred income | 492/3 | €252 | €263 | +€11 | +4.5% |
| Non-recurring operating income | 76A | - | €11,157 | +€11,157 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €387 | €5,241 | +€4,854 | +1252.9% |
| Other operating charges | 640/8 | €727 | €1,027 | +€301 | +41.4% |
| Gross operating margin | 9900 | €13,051 | €29,236 | +€16,184 | +124.0% |
| Operating profit (loss) | 9901 | €11,937 | €22,967 | +€11,029 | +92.4% |
| Financial income | 75/76B | €3,875 | €3,622 | -€252 | -6.5% |
| Recurring financial income | 75 | €3,875 | €3,622 | -€252 | -6.5% |
| Financial charges | 65/66B | €213 | €801 | +€588 | +275.5% |
| Recurring financial charges | 65 | €213 | €801 | +€588 | +275.5% |
| Profit (loss) for the period before taxes | 9903 | €15,599 | €25,788 | +€10,190 | +65.3% |
| Income taxes | 67/77 | €4,693 | €7,543 | +€2,851 | +60.7% |
| Profit (loss) for the period | 9904 | €10,906 | €18,245 | +€7,339 | +67.3% |
| Profit (loss) for the period to be appropriated | 9905 | €10,906 | €18,245 | +€7,339 | +67.3% |
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.