UMAKO: 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.
UMAKO
Largest movements
- Current investments +€420,000
up €420,000 (+52.5%), from €800,000 to €1.2m
- Cash -€81,769
down €81,769 (-20.3%), from €402,232 to €320,463
mainly Current investments (-€420,000) and Receivables within one year (-€44,451)
- Receivables within one year +€44,451
up €44,451 (+38.8%), from €114,637 to €159,089
of which Other amounts receivable: +€33,156
- Reserves +€369,000
up €369,000 (+36.2%), from €1.0m to €1.4m
- Gross operating margin +€99,883
up €99,883 (+25.1%), from €397,881 to €497,764
- Taxes +€27,795
up €27,795 (+28.7%), from €96,993 to €124,788
- Financial income +€10,918
up €10,918 (+96.6%), from €11,306 to €22,224
of which Financial income: +€11,171
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 | €1,369,394 | €1,742,436 | +€373,041 | +27.2% |
| Fixed assets | 21/28 | €51,025 | €38,632 | -€12,394 | -24.3% |
| Tangible fixed assets | 22/27 | €51,025 | €38,632 | -€12,394 | -24.3% |
| Plant, machinery and equipment | 23 | €2,902 | €3,753 | +€852 | +29.4% |
| Furniture and vehicles | 24 | €45,025 | €32,570 | -€12,455 | -27.7% |
| Other tangible fixed assets | 26 | €3,099 | €2,308 | -€791 | -25.5% |
| Current assets | 29/58 | €1,318,369 | €1,703,804 | +€385,435 | +29.2% |
| Amounts receivable after more than one year | 29 | - | €2,767 | +€2,767 | |
| Trade receivables | 290 | - | €2,767 | +€2,767 | |
| Amounts receivable within one year | 40/41 | €114,637 | €159,089 | +€44,451 | +38.8% |
| Trade receivables | 40 | €13,310 | €24,605 | +€11,295 | +84.9% |
| Other amounts receivable | 41 | €101,327 | €134,484 | +€33,156 | +32.7% |
| Current investments | 50/53 | €800,000 | €1,220,000 | +€420,000 | +52.5% |
| Cash at bank and in hand | 54/58 | €402,232 | €320,463 | -€81,769 | -20.3% |
| Deferred charges and accrued income | 490/1 | €1,499 | €1,485 | -€15 | -1.0% |
| Total equity and liabilities | 10/49 | €1,369,394 | €1,742,436 | +€373,041 | +27.2% |
| Equity | 10/15 | €1,021,740 | €1,391,348 | +€369,608 | +36.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €1,018,500 | €1,387,500 | +€369,000 | +36.2% |
| Distributable reserves | 133 | €1,018,500 | €1,387,500 | +€369,000 | +36.2% |
| Profit (loss) carried forward | 14 | €240 | €848 | +€608 | +253.6% |
| Amounts payable | 17/49 | €347,655 | €351,087 | +€3,433 | +1.0% |
| Amounts payable after more than one year | 17 | €200,000 | €200,000 | = | 0.0% |
| Financial debts | 170/4 | €200,000 | €200,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €139,869 | €141,280 | +€1,411 | +1.0% |
| Trade debts | 44 | €4,553 | €0 | -€4,553 | -100.0% |
| Suppliers | 440/4 | €4,553 | €0 | -€4,553 | -100.0% |
| Taxes, remuneration and social security | 45 | - | €4,700 | +€4,700 | |
| Taxes | 450/3 | - | €4,700 | +€4,700 | |
| Other amounts payable | 47/48 | €135,316 | €136,580 | +€1,264 | +0.9% |
| Accrued charges and deferred income | 492/3 | €7,785 | €9,807 | +€2,022 | +26.0% |
| Remuneration, social security and pensions | 62 | €128 | €14 | -€113 | -88.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,487 | €14,034 | +€548 | +4.1% |
| Other operating charges | 640/8 | - | €1,511 | +€1,511 | |
| Gross operating margin | 9900 | €397,881 | €497,764 | +€99,883 | +25.1% |
| Operating profit (loss) | 9901 | €384,267 | €482,204 | +€97,937 | +25.5% |
| Financial income | 75/76B | €11,306 | €22,224 | +€10,918 | +96.6% |
| Recurring financial income | 75 | €11,052 | €22,224 | +€11,171 | +101.1% |
| Non-recurring financial income | 76B | €253 | - | -€253 | |
| Financial charges | 65/66B | €7,876 | €10,031 | +€2,156 | +27.4% |
| Recurring financial charges | 65 | €7,876 | €10,031 | +€2,156 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | €387,697 | €494,396 | +€106,699 | +27.5% |
| Income taxes | 67/77 | €96,993 | €124,788 | +€27,795 | +28.7% |
| Profit (loss) for the period | 9904 | €290,704 | €369,608 | +€78,905 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | €290,704 | €369,608 | +€78,905 | +27.1% |
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.