Ultrax: 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.
Ultrax
Largest movements
- Receivables within one year -€711,175
down €711,175 (-80.5%), from €883,243 to €172,068
of which Other amounts receivable: -€732,830
- Cash +€400,635
up €400,635 (+745.0%), from €53,777 to €454,412
mainly Receivables within one year (+€711,175) and Stocks and contracts (+€41,939)
- Stocks and contracts -€41,939
down €41,939 (-100.0%), from €41,939 to €0
- Tangible fixed assets -€12,285
down €12,285 (-21.4%), from €57,523 to €45,238
of which Furniture and vehicles: -€11,265
- Contributions -€287,000
down €287,000 (-88.3%), from €325,000 to €38,000
- Other debts -€143,286
down €143,286 (-31.2%), from €459,173 to €315,887
- Tax, wage and social debts +€40,435
up €40,435 (+635.9%), from €6,358 to €46,793
of which Taxes: +€42,123
- Reserves +€25,011
up €25,011 (+34.2%), from €73,189 to €98,201
of which Distributable reserves: +€25,011
- Gross operating margin +€182,993
up €182,993, from -€36,171 to €146,823
- Taxes +€61,136
up €61,136 (+173.0%), from €35,342 to €96,477
- Financial income -€43,312
down €43,312 (-99.6%), from €43,498 to €186
- Other operating charges +€6,088
up €6,088 (+34.9%), from €17,430 to €23,518
- Financial charges -€2,499
down €2,499 (-72.7%), from €3,436 to €937
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 | €1,037,717 | €672,899 | -€364,818 | -35.2% |
| Fixed assets | 21/28 | €57,523 | €45,238 | -€12,285 | -21.4% |
| Tangible fixed assets | 22/27 | €57,523 | €45,238 | -€12,285 | -21.4% |
| Land and buildings | 22 | €46,125 | €45,238 | -€887 | -1.9% |
| Plant, machinery and equipment | 23 | €133 | €0 | -€133 | -100.0% |
| Furniture and vehicles | 24 | €11,265 | €0 | -€11,265 | -100.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €980,194 | €627,661 | -€352,533 | -36.0% |
| Stocks and contracts in progress | 3 | €41,939 | €0 | -€41,939 | -100.0% |
| Stocks | 30/36 | €41,939 | €0 | -€41,939 | -100.0% |
| Amounts receivable within one year | 40/41 | €883,243 | €172,068 | -€711,175 | -80.5% |
| Trade receivables | 40 | €132,832 | €154,487 | +€21,655 | +16.3% |
| Other amounts receivable | 41 | €750,410 | €17,580 | -€732,830 | -97.7% |
| Cash at bank and in hand | 54/58 | €53,777 | €454,412 | +€400,635 | +745.0% |
| Deferred charges and accrued income | 490/1 | €1,235 | €1,181 | -€53 | -4.3% |
| Total equity and liabilities | 10/49 | €1,037,717 | €672,899 | -€364,818 | -35.2% |
| Equity | 10/15 | €546,876 | €284,932 | -€261,944 | -47.9% |
| Contributions | 10/11 | €325,000 | €38,000 | -€287,000 | -88.3% |
| Reserves | 13 | €73,189 | €98,201 | +€25,011 | +34.2% |
| Non-distributable reserves | 130/1 | €18,443 | €18,443 | = | 0.0% |
| Other | 1319 | €18,443 | €18,443 | = | 0.0% |
| Distributable reserves | 133 | €54,746 | €79,757 | +€25,011 | +45.7% |
| Profit (loss) carried forward | 14 | €148,687 | €148,732 | +€45 | 0.0% |
| Amounts payable | 17/49 | €490,841 | €387,967 | -€102,874 | -21.0% |
| Amounts payable after more than one year | 17 | €11,275 | €11,275 | = | 0.0% |
| Other amounts payable | 178/9 | €11,275 | €11,275 | = | 0.0% |
| Amounts payable within one year | 42/48 | €467,742 | €372,434 | -€95,309 | -20.4% |
| Trade debts | 44 | €2,211 | €9,754 | +€7,543 | +341.1% |
| Suppliers | 440/4 | €2,211 | €9,754 | +€7,543 | +341.1% |
| Taxes, remuneration and social security | 45 | €6,358 | €46,793 | +€40,435 | +635.9% |
| Taxes | 450/3 | €4,670 | €46,793 | +€42,123 | +901.9% |
| Remuneration and social security | 454/9 | €1,688 | €0 | -€1,688 | -100.0% |
| Other amounts payable | 47/48 | €459,173 | €315,887 | -€143,286 | -31.2% |
| Accrued charges and deferred income | 492/3 | €11,824 | €4,258 | -€7,566 | -64.0% |
| Non-recurring operating income | 76A | - | €12,318 | +€12,318 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,527 | €1,020 | -€506 | -33.2% |
| Other operating charges | 640/8 | €17,430 | €23,518 | +€6,088 | +34.9% |
| Gross operating margin | 9900 | -€36,171 | €146,823 | +€182,993 | |
| Operating profit (loss) | 9901 | -€55,128 | €122,285 | +€177,412 | |
| Financial income | 75/76B | €43,498 | €186 | -€43,312 | -99.6% |
| Recurring financial income | 75 | €43,498 | €186 | -€43,312 | -99.6% |
| Financial charges | 65/66B | €3,436 | €937 | -€2,499 | -72.7% |
| Recurring financial charges | 65 | €3,436 | €937 | -€2,499 | -72.7% |
| Profit (loss) for the period before taxes | 9903 | -€15,065 | €121,534 | +€136,599 | |
| Income taxes | 67/77 | €35,342 | €96,477 | +€61,136 | +173.0% |
| Profit (loss) for the period | 9904 | -€50,407 | €25,056 | +€75,463 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50,407 | €25,056 | +€75,463 |
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.