ULYSSES IMMO: 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.
ULYSSES IMMO
Largest movements
- Tangible fixed assets -€27,715
down €27,715 (-4.5%), from €610,802 to €583,087
of which Land and buildings: -€22,289
- Debts after one year -€19,162
down €19,162 (-7.5%), from €256,625 to €237,464
- Profit (loss) carried forward -€7,197
down €7,197 (-38.2%), from -€18,836 to -€26,033
- Gross operating margin +€27,756
up €27,756 (+501.2%), from €5,537 to €33,293
- Taxes -€18,750
no longer reported in 2025 (was €18,750)
- Other operating charges +€3,153
up €3,153 (+112.4%), from €2,804 to €5,957
- Depreciation -€2,470
down €2,470 (-7.4%), from €33,377 to €30,908
- Financial charges -€860
down €860 (-7.1%), from €12,201 to €11,340
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 | €611,872 | €584,087 | -€27,784 | -4.5% |
| Fixed assets | 21/28 | €610,802 | €583,087 | -€27,715 | -4.5% |
| Tangible fixed assets | 22/27 | €610,802 | €583,087 | -€27,715 | -4.5% |
| Land and buildings | 22 | €542,416 | €520,127 | -€22,289 | -4.1% |
| Furniture and vehicles | 24 | €63 | - | -€63 | |
| Other tangible fixed assets | 26 | €68,323 | €62,960 | -€5,363 | -7.8% |
| Current assets | 29/58 | €1,070 | €1,000 | -€70 | -6.5% |
| Cash at bank and in hand | 54/58 | €733 | €953 | +€220 | +30.1% |
| Deferred charges and accrued income | 490/1 | €337 | €47 | -€290 | -86.0% |
| Total equity and liabilities | 10/49 | €611,872 | €584,087 | -€27,784 | -4.5% |
| Equity | 10/15 | €122,198 | €109,283 | -€12,916 | -10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €122,434 | €116,715 | -€5,719 | -4.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €118,798 | €114,855 | -€3,943 | -3.3% |
| Distributable reserves | 133 | €1,776 | - | -€1,776 | |
| Profit (loss) carried forward | 14 | -€18,836 | -€26,033 | -€7,197 | -38.2% |
| Provisions and deferred taxes | 16 | €60,759 | €58,762 | -€1,997 | -3.3% |
| Deferred taxes | 168 | €60,759 | €58,762 | -€1,997 | -3.3% |
| Amounts payable | 17/49 | €428,914 | €416,042 | -€12,872 | -3.0% |
| Amounts payable after more than one year | 17 | €256,625 | €237,464 | -€19,162 | -7.5% |
| Financial debts | 170/4 | €256,625 | €237,464 | -€19,162 | -7.5% |
| Amounts payable within one year | 42/48 | €172,289 | €178,579 | +€6,289 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €18,350 | €19,162 | +€811 | +4.4% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Taxes, remuneration and social security | 45 | €18,750 | €18,750 | = | 0.0% |
| Taxes | 450/3 | €18,750 | €18,750 | = | 0.0% |
| Other amounts payable | 47/48 | €135,189 | €140,267 | +€5,078 | +3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,377 | €30,908 | -€2,470 | -7.4% |
| Other operating charges | 640/8 | €2,804 | €5,957 | +€3,153 | +112.4% |
| Gross operating margin | 9900 | €5,537 | €33,293 | +€27,756 | +501.2% |
| Operating profit (loss) | 9901 | -€30,644 | -€3,572 | +€27,072 | +88.3% |
| Financial charges | 65/66B | €12,201 | €11,340 | -€860 | -7.1% |
| Recurring financial charges | 65 | €12,201 | €11,340 | -€860 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | -€42,845 | -€14,912 | +€27,933 | +65.2% |
| Transfer from deferred taxes | 780 | - | €1,997 | +€1,997 | |
| Income taxes | 67/77 | €18,750 | - | -€18,750 | |
| Profit (loss) for the period | 9904 | -€61,595 | -€12,916 | +€48,679 | +79.0% |
| Transfer from tax-exempt reserves | 789 | €113,233 | €3,943 | -€109,290 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €51,638 | -€8,973 | -€60,611 |
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.