ULVACO: 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.
ULVACO
Largest movements
- Tangible fixed assets +€267,738
up €267,738 (+309.2%), from €86,593 to €354,331
of which Furniture and vehicles: +€259,549
- Current investments +€209,000
new in 2024: €209,000
- Cash -€202,982
down €202,982 (-28.3%), from €716,027 to €513,045
mainly Investment in fixed assets (net) (-€505,491) and Current investments (-€209,000)
- Financial fixed assets +€161,348
up €161,348 (+331.7%), from €48,639 to €209,988
- Receivables within one year +€95,901
up €95,901 (+15.8%), from €606,721 to €702,622
of which Trade receivables: +€173,407
- Trade debts +€147,886
up €147,886 (+91.2%), from €162,087 to €309,973
- Debts after one year +€147,192
up €147,192 (+616.4%), from €23,880 to €171,072
- Reserves +€123,048
up €123,048 (+11.1%), from €1.1m to €1.2m
of which Distributable reserves: +€123,048
- Other debts +€84,700
up €84,700 (+505.3%), from €16,762 to €101,461
- Tax, wage and social debts +€29,361
up €29,361 (+44.9%), from €65,335 to €94,695
of which Taxes: +€20,138
- Depreciation +€36,542
up €36,542 (+91.7%), from €39,862 to €76,405
- Gross operating margin +€15,708
up €15,708 (+2.1%), from €764,712 to €780,421
- Staff costs +€14,435
up €14,435 (+4.0%), from €360,623 to €375,058
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,513,911 | €2,059,529 | +€545,618 | +36.0% |
| Fixed assets | 21/28 | €135,232 | €564,319 | +€429,086 | +317.3% |
| Tangible fixed assets | 22/27 | €86,593 | €354,331 | +€267,738 | +309.2% |
| Land and buildings | 22 | €700 | €700 | = | 0.0% |
| Plant, machinery and equipment | 23 | €8,058 | €16,386 | +€8,327 | +103.3% |
| Furniture and vehicles | 24 | €77,042 | €336,591 | +€259,549 | +336.9% |
| Other tangible fixed assets | 26 | €793 | €655 | -€138 | -17.5% |
| Financial fixed assets | 28 | €48,639 | €209,988 | +€161,348 | +331.7% |
| Current assets | 29/58 | €1,378,678 | €1,495,210 | +€116,532 | +8.5% |
| Amounts receivable after more than one year | 29 | €22,862 | €892 | -€21,970 | -96.1% |
| Other amounts receivable | 291 | €22,862 | €892 | -€21,970 | -96.1% |
| Amounts receivable within one year | 40/41 | €606,721 | €702,622 | +€95,901 | +15.8% |
| Trade receivables | 40 | €199,168 | €372,575 | +€173,407 | +87.1% |
| Other amounts receivable | 41 | €407,553 | €330,047 | -€77,506 | -19.0% |
| Current investments | 50/53 | - | €209,000 | +€209,000 | |
| Cash at bank and in hand | 54/58 | €716,027 | €513,045 | -€202,982 | -28.3% |
| Deferred charges and accrued income | 490/1 | €33,068 | €69,650 | +€36,582 | +110.6% |
| Total equity and liabilities | 10/49 | €1,513,911 | €2,059,529 | +€545,618 | +36.0% |
| Equity | 10/15 | €1,193,424 | €1,316,473 | +€123,048 | +10.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,107,125 | €1,230,173 | +€123,048 | +11.1% |
| Tax-exempt reserves | 132 | €94,500 | €94,500 | = | 0.0% |
| Distributable reserves | 133 | €1,012,625 | €1,135,673 | +€123,048 | +12.2% |
| Profit (loss) carried forward | 14 | €67,699 | €67,699 | = | 0.0% |
| Amounts payable | 17/49 | €320,487 | €743,056 | +€422,570 | +131.9% |
| Amounts payable after more than one year | 17 | €23,880 | €171,072 | +€147,192 | +616.4% |
| Financial debts | 170/4 | €23,880 | €171,072 | +€147,192 | +616.4% |
| Amounts payable within one year | 42/48 | €293,040 | €570,382 | +€277,342 | +94.6% |
| Current portion of amounts payable after more than one year | 42 | €40,415 | €64,252 | +€23,838 | +59.0% |
| Financial debts | 43 | €8,442 | - | -€8,442 | |
| Credit institutions | 430/8 | €8,442 | - | -€8,442 | |
| Trade debts | 44 | €162,087 | €309,973 | +€147,886 | +91.2% |
| Suppliers | 440/4 | €162,087 | €309,973 | +€147,886 | +91.2% |
| Taxes, remuneration and social security | 45 | €65,335 | €94,695 | +€29,361 | +44.9% |
| Taxes | 450/3 | €32,126 | €52,264 | +€20,138 | +62.7% |
| Remuneration and social security | 454/9 | €33,209 | €42,432 | +€9,223 | +27.8% |
| Other amounts payable | 47/48 | €16,762 | €101,461 | +€84,700 | +505.3% |
| Accrued charges and deferred income | 492/3 | €3,566 | €1,602 | -€1,964 | -55.1% |
| Non-recurring operating income | 76A | €35,000 | €1,000 | -€34,000 | -97.1% |
| Remuneration, social security and pensions | 62 | €360,623 | €375,058 | +€14,435 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,862 | €76,405 | +€36,542 | +91.7% |
| Other operating charges | 640/8 | €5,630 | €6,215 | +€586 | +10.4% |
| Gross operating margin | 9900 | €764,712 | €780,421 | +€15,708 | +2.1% |
| Operating profit (loss) | 9901 | €358,597 | €322,742 | -€35,855 | -10.0% |
| Financial income | 75/76B | €9,859 | €10,494 | +€636 | +6.4% |
| Recurring financial income | 75 | €9,859 | €10,494 | +€636 | +6.4% |
| Financial charges | 65/66B | €7,289 | €7,862 | +€573 | +7.9% |
| Recurring financial charges | 65 | €7,289 | €7,862 | +€573 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €361,167 | €325,375 | -€35,792 | -9.9% |
| Income taxes | 67/77 | €101,079 | €97,036 | -€4,043 | -4.0% |
| Profit (loss) for the period | 9904 | €260,087 | €228,338 | -€31,749 | -12.2% |
| Transfer to tax-exempt reserves | 689 | €35,000 | - | -€35,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €225,087 | €228,338 | +€3,251 | +1.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.