ULTRACE: 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.
ULTRACE
Largest movements
- Cash +€25,697
up €25,697 (+19.7%), from €130,272 to €155,969
mainly Net result for the year (+€13,687) and Other debts (+€10,191)
- Receivables within one year -€5,779
down €5,779 (-67.0%), from €8,627 to €2,848
of which Trade receivables: -€6,032
- Deferred charges and accrued income +€2,772
new in 2025: €2,772
- Profit (loss) carried forward +€13,687
up €13,687 (+10.7%), from €127,588 to €141,275
- Other debts +€10,191
up €10,191 (+2038.3%), from €500 to €10,691
- Tax, wage and social debts -€2,760
down €2,760 (-35.2%), from €7,841 to €5,081
of which Taxes: -€2,760
- Financial charges +€489
up €489 (+392.3%), from €125 to €613
- Gross operating margin -€324
down €324 (-1.7%), from €19,472 to €19,148
- Taxes +€223
up €223 (+4.6%), from €4,848 to €5,071
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 | €140,681 | €163,096 | +€22,414 | +15.9% |
| Fixed assets | 21/28 | €1,782 | €1,507 | -€276 | -15.5% |
| Tangible fixed assets | 22/27 | €1,782 | €1,507 | -€276 | -15.5% |
| Furniture and vehicles | 24 | €51 | €0 | -€51 | -100.0% |
| Other tangible fixed assets | 26 | €1,732 | €1,507 | -€225 | -13.0% |
| Current assets | 29/58 | €138,899 | €161,589 | +€22,690 | +16.3% |
| Amounts receivable within one year | 40/41 | €8,627 | €2,848 | -€5,779 | -67.0% |
| Trade receivables | 40 | €7,525 | €1,493 | -€6,032 | -80.2% |
| Other amounts receivable | 41 | €1,102 | €1,355 | +€253 | +23.0% |
| Cash at bank and in hand | 54/58 | €130,272 | €155,969 | +€25,697 | +19.7% |
| Deferred charges and accrued income | 490/1 | - | €2,772 | +€2,772 | |
| Total equity and liabilities | 10/49 | €140,681 | €163,096 | +€22,414 | +15.9% |
| Equity | 10/15 | €130,088 | €143,775 | +€13,687 | +10.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,588 | €141,275 | +€13,687 | +10.7% |
| Amounts payable | 17/49 | €10,593 | €19,320 | +€8,727 | +82.4% |
| Amounts payable within one year | 42/48 | €9,593 | €17,924 | +€8,331 | +86.8% |
| Trade debts | 44 | €1,252 | €2,151 | +€900 | +71.9% |
| Suppliers | 440/4 | €1,252 | €2,151 | +€900 | +71.9% |
| Taxes, remuneration and social security | 45 | €7,841 | €5,081 | -€2,760 | -35.2% |
| Taxes | 450/3 | €5,537 | €2,777 | -€2,760 | -49.8% |
| Remuneration and social security | 454/9 | €2,304 | €2,304 | = | 0.0% |
| Other amounts payable | 47/48 | €500 | €10,691 | +€10,191 | +2038.3% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,396 | +€396 | +39.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €457 | €276 | -€181 | -39.6% |
| Other operating charges | 640/8 | €387 | €539 | +€151 | +39.0% |
| Gross operating margin | 9900 | €19,472 | €19,148 | -€324 | -1.7% |
| Operating profit (loss) | 9901 | €18,628 | €18,333 | -€295 | -1.6% |
| Financial income | 75/76B | €1,067 | €1,037 | -€30 | -2.8% |
| Recurring financial income | 75 | €1,067 | €1,037 | -€30 | -2.8% |
| Financial charges | 65/66B | €125 | €613 | +€489 | +392.3% |
| Recurring financial charges | 65 | €125 | €613 | +€489 | +392.3% |
| Profit (loss) for the period before taxes | 9903 | €19,571 | €18,758 | -€813 | -4.2% |
| Income taxes | 67/77 | €4,848 | €5,071 | +€223 | +4.6% |
| Profit (loss) for the period | 9904 | €14,723 | €13,687 | -€1,036 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,723 | €13,687 | -€1,036 | -7.0% |
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 12 October 2026 via checked.be.