Ulysse Tréfonds: 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.
What changed
Ulysse Tréfonds
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€16,358
2024 · -€82,981+€66,624
Equity
€4.3m
2024 · €4.4m-€16,358
Cash
€5,927
2024 · €5,006+€921
Balance sheet total
€5.9m
2024 · €5.9m-€62,671
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Financial charges -€35,419
down €35,419 (-47.7%), from €74,316 to €38,897
- Other operating income +€28,823
new in 2025: €28,823
- Financial income -€3,112
no longer reported in 2025 (was €3,112)
- Turnover +€3,038
up €3,038 (+1.8%), from €173,199 to €176,237
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.
Result 2024
-€82,981
Turnover
+€3,038
Other operating income
+€28,823
Services and other goods
-€7
Depreciation
+€5
Other operating charges
-€1,586
Other operating items
+€4,044
Financial income
-€3,112
Financial charges
+€35,419
Result 2025
-€16,358
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
-€51,556
Investment
+€52,477
Financing
€0
Cash 2024
€5,006
From operations (derived)
-€51,556
Net result for the year
-€16,358
Depreciation
+€11,115
Trade debts
-€9,116
Other debts
-€37,197
Investment (derived)
+€52,477
Investment in fixed assets (net)
+€52,477
Cash 2025
€5,927
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,931,902 | €5,869,231 | -€62,671 | -1.1% |
| Fixed assets | 21/28 | €5,921,449 | €5,857,858 | -€63,592 | -1.1% |
| Tangible fixed assets | 22/27 | €5,888,149 | €5,857,858 | -€30,292 | -0.5% |
| Other tangible fixed assets | 26 | €5,888,149 | €5,857,858 | -€30,292 | -0.5% |
| Financial fixed assets | 28 | €33,300 | - | -€33,300 | |
| Companies linked by participating interests | 282/3 | €33,300 | - | -€33,300 | |
| Participating interests | 282 | €33,300 | - | -€33,300 | |
| Current assets | 29/58 | €10,453 | €11,374 | +€921 | +8.8% |
| Amounts receivable within one year | 40/41 | €5,447 | €5,447 | = | 0.0% |
| Trade receivables | 40 | €4,513 | €4,513 | = | 0.0% |
| Other amounts receivable | 41 | €934 | €934 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €5,006 | €5,927 | +€921 | +18.4% |
| Total equity and liabilities | 10/49 | €5,931,902 | €5,869,231 | -€62,671 | -1.1% |
| Equity | 10/15 | €4,365,989 | €4,349,632 | -€16,358 | -0.4% |
| Contributions | 10/11 | €4,841,081 | €4,841,081 | = | 0.0% |
| Capital | 10 | €4,841,081 | €4,841,081 | = | 0.0% |
| Issued capital | 100 | €4,841,081 | €4,841,081 | = | 0.0% |
| Reserves | 13 | €60,578 | €60,578 | = | 0.0% |
| Non-distributable reserves | 130/1 | €60,578 | €60,578 | = | 0.0% |
| Legal reserve | 130 | €60,578 | €60,578 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€535,670 | -€552,028 | -€16,358 | -3.1% |
| Amounts payable | 17/49 | €1,565,913 | €1,519,599 | -€46,314 | -3.0% |
| Amounts payable within one year | 42/48 | €1,561,413 | €1,515,099 | -€46,314 | -3.0% |
| Trade debts | 44 | €38,353 | €29,237 | -€9,116 | -23.8% |
| Suppliers | 440/4 | €38,353 | €29,237 | -€9,116 | -23.8% |
| Other amounts payable | 47/48 | €1,523,060 | €1,485,862 | -€37,197 | -2.4% |
| Accrued charges and deferred income | 492/3 | €4,500 | €4,500 | = | 0.0% |
| Operating income | 70/76A | €195,467 | €231,373 | +€35,905 | +18.4% |
| Turnover | 70 | €173,199 | €176,237 | +€3,038 | +1.8% |
| Other operating income | 74 | - | €28,823 | +€28,823 | |
| Non-recurring operating income | 76A | €22,268 | €26,312 | +€4,044 | +18.2% |
| Operating charges | 60/66A | €207,244 | €208,833 | +€1,588 | +0.8% |
| Services and other goods | 61 | €188,553 | €188,559 | +€7 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,120 | €11,115 | -€5 | 0.0% |
| Other operating charges | 640/8 | €7,572 | €9,158 | +€1,586 | +20.9% |
| Operating profit (loss) | 9901 | -€11,777 | €22,540 | +€34,317 | |
| Financial income | 75/76B | €3,112 | - | -€3,112 | |
| Recurring financial income | 75 | €3,112 | - | -€3,112 | |
| Income from financial fixed assets | 750 | €3,112 | - | -€3,112 | |
| Financial charges | 65/66B | €74,316 | €38,897 | -€35,419 | -47.7% |
| Recurring financial charges | 65 | €74,316 | €38,897 | -€35,419 | -47.7% |
| Debt charges | 650 | €73,788 | €38,303 | -€35,485 | -48.1% |
| Other financial charges | 652/9 | €528 | €595 | +€66 | +12.6% |
| Profit (loss) for the period before taxes | 9903 | -€82,981 | -€16,358 | +€66,624 | +80.3% |
| Profit (loss) for the period | 9904 | -€82,981 | -€16,358 | +€66,624 | +80.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€82,981 | -€16,358 | +€66,624 | +80.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.