ULV: 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.
ULV
Largest movements
- Tangible fixed assets -€19,805
down €19,805 (-51.6%), from €38,380 to €18,575
of which Land and buildings: -€18,381
- Receivables within one year -€16,591
down €16,591 (-86.4%), from €19,205 to €2,614
of which Trade receivables: -€18,085
- Cash +€4,271
up €4,271 (+11.6%), from €36,691 to €40,962
mainly Depreciation (+€19,805) and Receivables within one year (+€16,591)
- Debts after one year -€16,572
no longer reported in 2026 (was €16,572)
- Current portion of long-term debt -€7,340
down €7,340 (-30.7%), from €23,912 to €16,572
- Reserves -€5,752
down €5,752 (-18.0%), from €31,938 to €26,186
of which Distributable reserves: -€5,752
- Tax, wage and social debts -€2,095
down €2,095 (-58.5%), from €3,581 to €1,487
- Profit (loss) carried forward -€1,611
new in 2026: -€1,611
- Gross operating margin -€21,119
down €21,119 (-46.4%), from €45,562 to €24,443
- Taxes -€5,483
down €5,483 (-79.8%), from €6,867 to €1,384
- Depreciation -€1,246
down €1,246 (-5.9%), from €21,051 to €19,805
- Financial charges -€1,023
down €1,023 (-37.9%), from €2,701 to €1,678
From the 2025 result to the 2026 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.
Derived cash bridge
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €100,706 | €68,533 | -€32,173 | -31.9% |
| Fixed assets | 21/28 | €38,420 | €18,615 | -€19,805 | -51.5% |
| Tangible fixed assets | 22/27 | €38,380 | €18,575 | -€19,805 | -51.6% |
| Land and buildings | 22 | €35,709 | €17,328 | -€18,381 | -51.5% |
| Plant, machinery and equipment | 23 | €600 | €82 | -€518 | -86.3% |
| Furniture and vehicles | 24 | €2,072 | €1,165 | -€906 | -43.7% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €62,286 | €49,918 | -€12,368 | -19.9% |
| Amounts receivable within one year | 40/41 | €19,205 | €2,614 | -€16,591 | -86.4% |
| Trade receivables | 40 | €18,522 | €438 | -€18,085 | -97.6% |
| Other amounts receivable | 41 | €683 | €2,176 | +€1,493 | +219% |
| Cash at bank and in hand | 54/58 | €36,691 | €40,962 | +€4,271 | +11.6% |
| Deferred charges and accrued income | 490/1 | €6,390 | €6,343 | -€47 | -0.7% |
| Total equity and liabilities | 10/49 | €100,706 | €68,533 | -€32,173 | -31.9% |
| Equity | 10/15 | €50,538 | €43,175 | -€7,363 | -14.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,938 | €26,186 | -€5,752 | -18.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €30,078 | €24,326 | -€5,752 | -19.1% |
| Profit (loss) carried forward | 14 | - | -€1,611 | -€1,611 | |
| Amounts payable | 17/49 | €50,168 | €25,358 | -€24,810 | -49.5% |
| Amounts payable after more than one year | 17 | €16,572 | - | -€16,572 | |
| Financial debts | 170/4 | €16,572 | - | -€16,572 | |
| Amounts payable within one year | 42/48 | €32,896 | €24,728 | -€8,167 | -24.8% |
| Current portion of amounts payable after more than one year | 42 | €23,912 | €16,572 | -€7,340 | -30.7% |
| Trade debts | 44 | €3,939 | €5,523 | +€1,583 | +40.2% |
| Suppliers | 440/4 | €3,939 | €5,523 | +€1,583 | +40.2% |
| Taxes, remuneration and social security | 45 | €3,581 | €1,487 | -€2,095 | -58.5% |
| Taxes | 450/3 | €3,581 | €1,487 | -€2,095 | -58.5% |
| Other amounts payable | 47/48 | €1,463 | €1,147 | -€316 | -21.6% |
| Accrued charges and deferred income | 492/3 | €701 | €630 | -€71 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,051 | €19,805 | -€1,246 | -5.9% |
| Other operating charges | 640/8 | €3,321 | €3,388 | +€67 | +2.0% |
| Gross operating margin | 9900 | €45,562 | €24,443 | -€21,119 | -46.4% |
| Operating profit (loss) | 9901 | €21,190 | €1,251 | -€19,939 | -94.1% |
| Financial income | 75/76B | €165 | €201 | +€37 | +22.2% |
| Recurring financial income | 75 | €165 | €201 | +€37 | +22.2% |
| Financial charges | 65/66B | €2,701 | €1,678 | -€1,023 | -37.9% |
| Recurring financial charges | 65 | €2,701 | €1,678 | -€1,023 | -37.9% |
| Profit (loss) for the period before taxes | 9903 | €18,653 | -€227 | -€18,879 | |
| Income taxes | 67/77 | €6,867 | €1,384 | -€5,483 | -79.8% |
| Profit (loss) for the period | 9904 | €11,786 | -€1,611 | -€13,397 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,786 | -€1,611 | -€13,397 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.