UMBERTO: 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.
UMBERTO
Largest movements
- Receivables within one year -€30,197
down €30,197 (-50.3%), from €60,072 to €29,875
of which Trade receivables: -€28,421
- Tangible fixed assets -€26,883
down €26,883 (-3.0%), from €891,519 to €864,636
of which Land and buildings: -€21,155
- Intangible fixed assets -€17,000
down €17,000 (-27.3%), from €62,333 to €45,333
- Debts after one year -€37,051
down €37,051 (-5.9%), from €626,776 to €589,725
- Trade debts -€33,893
down €33,893 (-51.8%), from €65,369 to €31,476
- Tax, wage and social debts -€26,920
down €26,920 (-81.1%), from €33,199 to €6,279
of which Taxes: -€18,546
- Profit (loss) carried forward +€15,235
up €15,235 (+31.0%), from €49,198 to €64,433
- Staff costs -€133,387
down €133,387 (-51.9%), from €257,046 to €123,659
- Gross operating margin -€112,226
down €112,226 (-33.2%), from €337,816 to €225,591
- Write-downs -€32,395
no longer reported in 2025 (was €32,395)
- Financial charges +€16,155
up €16,155 (+145.5%), from €11,101 to €27,256
- Depreciation +€8,819
up €8,819 (+23.8%), from €37,098 to €45,917
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 | €1,087,905 | €1,003,409 | -€84,496 | -7.8% |
| Fixed assets | 21/28 | €953,853 | €909,969 | -€43,883 | -4.6% |
| Intangible fixed assets | 21 | €62,333 | €45,333 | -€17,000 | -27.3% |
| Tangible fixed assets | 22/27 | €891,519 | €864,636 | -€26,883 | -3.0% |
| Land and buildings | 22 | €874,538 | €853,383 | -€21,155 | -2.4% |
| Plant, machinery and equipment | 23 | €13,306 | €9,543 | -€3,763 | -28.3% |
| Furniture and vehicles | 24 | €2,651 | €1,066 | -€1,585 | -59.8% |
| Other tangible fixed assets | 26 | €1,024 | €644 | -€380 | -37.1% |
| Current assets | 29/58 | €134,053 | €93,440 | -€40,613 | -30.3% |
| Stocks and contracts in progress | 3 | €5,261 | €5,261 | = | 0.0% |
| Stocks | 30/36 | €5,261 | €5,261 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €60,072 | €29,875 | -€30,197 | -50.3% |
| Trade receivables | 40 | €57,577 | €29,156 | -€28,421 | -49.4% |
| Other amounts receivable | 41 | €2,495 | €719 | -€1,776 | -71.2% |
| Cash at bank and in hand | 54/58 | €66,328 | €55,912 | -€10,416 | -15.7% |
| Deferred charges and accrued income | 490/1 | €2,392 | €2,392 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,087,905 | €1,003,409 | -€84,496 | -7.8% |
| Equity | 10/15 | €130,249 | €145,484 | +€15,235 | +11.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €61,051 | €61,051 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,341 | €3,341 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,341 | €3,341 | = | 0.0% |
| Distributable reserves | 133 | €57,709 | €57,709 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,198 | €64,433 | +€15,235 | +31.0% |
| Amounts payable | 17/49 | €957,656 | €857,925 | -€99,731 | -10.4% |
| Amounts payable after more than one year | 17 | €626,776 | €589,725 | -€37,051 | -5.9% |
| Financial debts | 170/4 | €626,776 | €589,725 | -€37,051 | -5.9% |
| Amounts payable within one year | 42/48 | €330,880 | €268,200 | -€62,680 | -18.9% |
| Current portion of amounts payable after more than one year | 42 | €35,789 | €37,051 | +€1,262 | +3.5% |
| Trade debts | 44 | €65,369 | €31,476 | -€33,893 | -51.8% |
| Suppliers | 440/4 | €65,369 | €31,476 | -€33,893 | -51.8% |
| Advances received on contracts in progress | 46 | €698 | €698 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €33,199 | €6,279 | -€26,920 | -81.1% |
| Taxes | 450/3 | €18,551 | €5 | -€18,546 | -100.0% |
| Remuneration and social security | 454/9 | €14,648 | €6,274 | -€8,374 | -57.2% |
| Other amounts payable | 47/48 | €195,826 | €192,697 | -€3,129 | -1.6% |
| Remuneration, social security and pensions | 62 | €257,046 | €123,659 | -€133,387 | -51.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,098 | €45,917 | +€8,819 | +23.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €32,395 | - | -€32,395 | |
| Other operating charges | 640/8 | €1,655 | €5,365 | +€3,710 | +224.2% |
| Gross operating margin | 9900 | €337,816 | €225,591 | -€112,226 | -33.2% |
| Operating profit (loss) | 9901 | €9,622 | €50,650 | +€41,028 | +426.4% |
| Financial income | 75/76B | €191 | €1,710 | +€1,519 | +795.0% |
| Recurring financial income | 75 | €191 | €1,710 | +€1,519 | +795.0% |
| Financial charges | 65/66B | €11,101 | €27,256 | +€16,155 | +145.5% |
| Recurring financial charges | 65 | €11,101 | €27,256 | +€16,155 | +145.5% |
| Profit (loss) for the period before taxes | 9903 | -€1,288 | €25,104 | +€26,392 | |
| Income taxes | 67/77 | €1,083 | €9,870 | +€8,786 | +811.0% |
| Profit (loss) for the period | 9904 | -€2,371 | €15,235 | +€17,606 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,371 | €15,235 | +€17,606 |
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.