ULURU: 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.
ULURU
Largest movements
- Tangible fixed assets -€134,775
down €134,775 (-30.6%), from €440,919 to €306,143
of which Land and buildings: -€123,743
- Financial fixed assets -€45,000
down €45,000 (-13.8%), from €325,300 to €280,300
- Receivables within one year -€31,278
down €31,278 (-43.7%), from €71,582 to €40,304
of which Other amounts receivable: -€29,154
- Cash +€11,124
up €11,124 (+1310.9%), from €849 to €11,973
mainly Investment in fixed assets (net) (+€157,075) and Receivables within one year (+€31,278)
- Other debts -€77,361
down €77,361 (-56.9%), from €135,983 to €58,622
- Debts after one year -€68,371
down €68,371 (-20.3%), from €336,993 to €268,622
of which Financial debts: -€117,823
- Profit (loss) carried forward -€59,114
down €59,114 (-48.7%), from €121,508 to €62,394
- Reserves +€27,932
up €27,932 (+15.8%), from €176,722 to €204,654
of which Tax-exempt reserves: +€46,932
- Current portion of long-term debt -€22,772
down €22,772 (-73.8%), from €30,868 to €8,097
- Gross operating margin +€51,201
up €51,201 (+72.1%), from €71,052 to €122,253
- Financial charges +€43,583
up €43,583 (+308.0%), from €14,150 to €57,733
- Write-downs +€27,875
new in 2025: €27,875
- Taxes -€8,979
no longer reported in 2025 (was €8,979)
- Depreciation -€3,738
down €3,738 (-14.1%), from €26,438 to €22,701
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 | €839,488 | €639,103 | -€200,385 | -23.9% |
| Fixed assets | 21/28 | €766,219 | €586,443 | -€179,775 | -23.5% |
| Tangible fixed assets | 22/27 | €440,919 | €306,143 | -€134,775 | -30.6% |
| Land and buildings | 22 | €345,304 | €221,562 | -€123,743 | -35.8% |
| Plant, machinery and equipment | 23 | €95,614 | €84,582 | -€11,033 | -11.5% |
| Financial fixed assets | 28 | €325,300 | €280,300 | -€45,000 | -13.8% |
| Current assets | 29/58 | €73,269 | €52,660 | -€20,609 | -28.1% |
| Amounts receivable within one year | 40/41 | €71,582 | €40,304 | -€31,278 | -43.7% |
| Trade receivables | 40 | €4,410 | €2,286 | -€2,124 | -48.2% |
| Other amounts receivable | 41 | €67,172 | €38,018 | -€29,154 | -43.4% |
| Cash at bank and in hand | 54/58 | €849 | €11,973 | +€11,124 | +1310.9% |
| Deferred charges and accrued income | 490/1 | €839 | €383 | -€456 | -54.3% |
| Total equity and liabilities | 10/49 | €839,488 | €639,103 | -€200,385 | -23.9% |
| Equity | 10/15 | €304,427 | €273,245 | -€31,182 | -10.2% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €176,722 | €204,654 | +€27,932 | +15.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €46,932 | +€46,932 | |
| Distributable reserves | 133 | €174,862 | €155,862 | -€19,000 | -10.9% |
| Profit (loss) carried forward | 14 | €121,508 | €62,394 | -€59,114 | -48.7% |
| Provisions and deferred taxes | 16 | - | €15,644 | +€15,644 | |
| Deferred taxes | 168 | - | €15,644 | +€15,644 | |
| Amounts payable | 17/49 | €535,061 | €350,214 | -€184,847 | -34.5% |
| Amounts payable after more than one year | 17 | €336,993 | €268,622 | -€68,371 | -20.3% |
| Financial debts | 170/4 | €248,770 | €130,947 | -€117,823 | -47.4% |
| Other amounts payable | 178/9 | €88,223 | €137,675 | +€49,452 | +56.1% |
| Amounts payable within one year | 42/48 | €197,481 | €81,592 | -€115,889 | -58.7% |
| Current portion of amounts payable after more than one year | 42 | €30,868 | €8,097 | -€22,772 | -73.8% |
| Trade debts | 44 | €15,544 | €11,495 | -€4,049 | -26.0% |
| Suppliers | 440/4 | €15,544 | €11,495 | -€4,049 | -26.0% |
| Taxes, remuneration and social security | 45 | €15,086 | €3,379 | -€11,707 | -77.6% |
| Taxes | 450/3 | €15,086 | €3,379 | -€11,707 | -77.6% |
| Other amounts payable | 47/48 | €135,983 | €58,622 | -€77,361 | -56.9% |
| Accrued charges and deferred income | 492/3 | €587 | - | -€587 | |
| Non-recurring operating income | 76A | - | €65,593 | +€65,593 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,438 | €22,701 | -€3,738 | -14.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €27,875 | +€27,875 | |
| Other operating charges | 640/8 | €7,967 | €10,483 | +€2,516 | +31.6% |
| Gross operating margin | 9900 | €71,052 | €122,253 | +€51,201 | +72.1% |
| Operating profit (loss) | 9901 | €36,646 | €61,195 | +€24,548 | +67.0% |
| Financial income | 75/76B | €1 | €0 | -€1 | -97.7% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -97.7% |
| Financial charges | 65/66B | €14,150 | €57,733 | +€43,583 | +308.0% |
| Recurring financial charges | 65 | €14,150 | €57,733 | +€43,583 | +308.0% |
| Profit (loss) for the period before taxes | 9903 | €22,498 | €3,462 | -€19,036 | -84.6% |
| Transfer from deferred taxes | 780 | - | €754 | +€754 | |
| Transfer to deferred taxes | 680 | - | €16,398 | +€16,398 | |
| Income taxes | 67/77 | €8,979 | - | -€8,979 | |
| Profit (loss) for the period | 9904 | €13,519 | -€12,182 | -€25,701 | |
| Transfer from tax-exempt reserves | 789 | - | €2,263 | +€2,263 | |
| Transfer to tax-exempt reserves | 689 | - | €49,195 | +€49,195 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,519 | -€59,114 | -€72,633 |
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 3 October 2026 via checked.be.