ULYSSE: 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.
ULYSSE
Largest movements
- Cash -€122,803
down €122,803 (-13.6%), from €904,533 to €781,731
mainly Other debts (-€143,522) and Trade debts (-€51,925)
- Tangible fixed assets -€96,515
down €96,515 (-27.7%), from €347,846 to €251,331
of which Land and buildings: -€87,894
- Receivables within one year +€15,726
up €15,726 (+14.4%), from €109,093 to €124,818
of which Other amounts receivable: +€63,708
- Other debts -€143,522
down €143,522 (-72.3%), from €198,458 to €54,936
- Trade debts -€51,925
down €51,925 (-49.6%), from €104,732 to €52,807
- Gross operating margin -€193,121
down €193,121 (-70.7%), from €273,108 to €79,987
- Taxes -€12,166
down €12,166 (-90.4%), from €13,454 to €1,288
- Financial income -€10,055
down €10,055 (-72.8%), from €13,815 to €3,760
- Depreciation -€8,677
down €8,677 (-24.1%), from €35,944 to €27,267
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 | €1,367,042 | €1,162,850 | -€204,192 | -14.9% |
| Fixed assets | 21/28 | €350,846 | €254,331 | -€96,515 | -27.5% |
| Tangible fixed assets | 22/27 | €347,846 | €251,331 | -€96,515 | -27.7% |
| Land and buildings | 22 | €332,099 | €244,205 | -€87,894 | -26.5% |
| Furniture and vehicles | 24 | €15,747 | €7,126 | -€8,621 | -54.7% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €1,016,196 | €908,519 | -€107,677 | -10.6% |
| Amounts receivable within one year | 40/41 | €109,093 | €124,818 | +€15,726 | +14.4% |
| Trade receivables | 40 | €95,859 | €47,877 | -€47,982 | -50.1% |
| Other amounts receivable | 41 | €13,234 | €76,941 | +€63,708 | +481.4% |
| Cash at bank and in hand | 54/58 | €904,533 | €781,731 | -€122,803 | -13.6% |
| Deferred charges and accrued income | 490/1 | €2,571 | €1,970 | -€600 | -23.4% |
| Total equity and liabilities | 10/49 | €1,367,042 | €1,162,850 | -€204,192 | -14.9% |
| Equity | 10/15 | €1,051,713 | €1,052,389 | +€676 | +0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €175,602 | €175,602 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €393 | €393 | = | 0.0% |
| Distributable reserves | 133 | €169,010 | €169,010 | = | 0.0% |
| Profit (loss) carried forward | 14 | €814,111 | €814,787 | +€676 | +0.1% |
| Amounts payable | 17/49 | €315,329 | €110,461 | -€204,868 | -65.0% |
| Amounts payable after more than one year | 17 | €2,718 | - | -€2,718 | |
| Financial debts | 170/4 | €2,718 | - | -€2,718 | |
| Amounts payable within one year | 42/48 | €312,612 | €110,461 | -€202,150 | -64.7% |
| Current portion of amounts payable after more than one year | 42 | €8,109 | €2,718 | -€5,392 | -66.5% |
| Trade debts | 44 | €104,732 | €52,807 | -€51,925 | -49.6% |
| Suppliers | 440/4 | €104,732 | €52,807 | -€51,925 | -49.6% |
| Taxes, remuneration and social security | 45 | €1,312 | - | -€1,312 | |
| Taxes | 450/3 | €1,312 | - | -€1,312 | |
| Other amounts payable | 47/48 | €198,458 | €54,936 | -€143,522 | -72.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,944 | €27,267 | -€8,677 | -24.1% |
| Other operating charges | 640/8 | €3,791 | €4,155 | +€364 | +9.6% |
| Gross operating margin | 9900 | €273,108 | €79,987 | -€193,121 | -70.7% |
| Operating profit (loss) | 9901 | €233,373 | €48,565 | -€184,808 | -79.2% |
| Financial income | 75/76B | €13,815 | €3,760 | -€10,055 | -72.8% |
| Recurring financial income | 75 | €13,815 | €3,760 | -€10,055 | -72.8% |
| Financial charges | 65/66B | €374 | €361 | -€13 | -3.6% |
| Recurring financial charges | 65 | €374 | €361 | -€13 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €246,814 | €51,964 | -€194,850 | -78.9% |
| Income taxes | 67/77 | €13,454 | €1,288 | -€12,166 | -90.4% |
| Profit (loss) for the period | 9904 | €233,360 | €50,676 | -€182,684 | -78.3% |
| Profit (loss) for the period to be appropriated | 9905 | €233,360 | €50,676 | -€182,684 | -78.3% |
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.