ULTISYN: 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.
ULTISYN
Largest movements
- Tangible fixed assets +€302,704
up €302,704 (+659.7%), from €45,882 to €348,586
of which Land and buildings: +€315,126
- Receivables within one year +€37,686
up €37,686 (+50.0%), from €75,313 to €113,000
of which Other amounts receivable: +€39,910
- Intangible fixed assets -€11,000
down €11,000 (-56.1%), from €19,597 to €8,597
- Debts after one year +€268,665
up €268,665 (+198.7%), from €135,228 to €403,893
- Profit (loss) carried forward +€42,197
up €42,197 (+36.6%), from -€115,253 to -€73,055
- Current portion of long-term debt +€14,607
up €14,607 (+41.3%), from €35,350 to €49,957
- Financial charges -€205,046
down €205,046 (-91.5%), from €224,046 to €19,000
- Depreciation +€41,665
up €41,665 (+157.2%), from €26,499 to €68,164
- Gross operating margin +€28,237
up €28,237 (+13.5%), from €209,719 to €237,957
- Staff costs +€20,515
up €20,515 (+27.9%), from €73,480 to €93,994
- Taxes -€7,236
down €7,236 (-33.4%), from €21,649 to €14,413
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 | €158,905 | €491,919 | +€333,014 | +209.6% |
| Fixed assets | 21/28 | €65,480 | €357,183 | +€291,704 | +445.5% |
| Intangible fixed assets | 21 | €19,597 | €8,597 | -€11,000 | -56.1% |
| Tangible fixed assets | 22/27 | €45,882 | €348,586 | +€302,704 | +659.7% |
| Land and buildings | 22 | - | €315,126 | +€315,126 | |
| Plant, machinery and equipment | 23 | €10,996 | €7,067 | -€3,930 | -35.7% |
| Furniture and vehicles | 24 | €8,761 | €6,074 | -€2,687 | -30.7% |
| Other tangible fixed assets | 26 | €26,125 | €20,319 | -€5,806 | -22.2% |
| Current assets | 29/58 | €93,426 | €134,736 | +€41,310 | +44.2% |
| Amounts receivable within one year | 40/41 | €75,313 | €113,000 | +€37,686 | +50.0% |
| Trade receivables | 40 | €46,050 | €43,827 | -€2,223 | -4.8% |
| Other amounts receivable | 41 | €29,263 | €69,173 | +€39,910 | +136.4% |
| Cash at bank and in hand | 54/58 | €16,399 | €18,905 | +€2,507 | +15.3% |
| Deferred charges and accrued income | 490/1 | €1,714 | €2,830 | +€1,117 | +65.2% |
| Total equity and liabilities | 10/49 | €158,905 | €491,919 | +€333,014 | +209.6% |
| Equity | 10/15 | -€25,253 | €16,945 | +€42,197 | |
| Contributions | 10/11 | €90,000 | €90,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,253 | -€73,055 | +€42,197 | +36.6% |
| Amounts payable | 17/49 | €184,158 | €474,974 | +€290,816 | +157.9% |
| Amounts payable after more than one year | 17 | €135,228 | €403,893 | +€268,665 | +198.7% |
| Financial debts | 170/4 | €135,228 | €403,893 | +€268,665 | +198.7% |
| Amounts payable within one year | 42/48 | €48,930 | €71,082 | +€22,152 | +45.3% |
| Current portion of amounts payable after more than one year | 42 | €35,350 | €49,957 | +€14,607 | +41.3% |
| Trade debts | 44 | €3,062 | €6,196 | +€3,134 | +102.4% |
| Suppliers | 440/4 | €3,062 | €6,196 | +€3,134 | +102.4% |
| Taxes, remuneration and social security | 45 | €10,518 | €14,929 | +€4,411 | +41.9% |
| Taxes | 450/3 | €1,775 | €4,396 | +€2,621 | +147.7% |
| Remuneration and social security | 454/9 | €8,743 | €10,533 | +€1,790 | +20.5% |
| Non-recurring operating income | 76A | €3,043 | - | -€3,043 | |
| Remuneration, social security and pensions | 62 | €73,480 | €93,994 | +€20,515 | +27.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,499 | €68,164 | +€41,665 | +157.2% |
| Other operating charges | 640/8 | €1,415 | €2,174 | +€759 | +53.6% |
| Gross operating margin | 9900 | €209,719 | €237,957 | +€28,237 | +13.5% |
| Operating profit (loss) | 9901 | €108,326 | €73,625 | -€34,701 | -32.0% |
| Financial income | 75/76B | €661 | €2,985 | +€2,324 | +351.6% |
| Recurring financial income | 75 | €661 | €2,985 | +€2,324 | +351.6% |
| Financial charges | 65/66B | €224,046 | €19,000 | -€205,046 | -91.5% |
| Recurring financial charges | 65 | €224,046 | €19,000 | -€205,046 | -91.5% |
| Profit (loss) for the period before taxes | 9903 | -€115,059 | €57,610 | +€172,669 | |
| Income taxes | 67/77 | €21,649 | €14,413 | -€7,236 | -33.4% |
| Profit (loss) for the period | 9904 | -€136,708 | €43,197 | +€179,905 | |
| Profit (loss) for the period to be appropriated | 9905 | -€136,708 | €43,197 | +€179,905 |
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 4 October 2026 via checked.be.