UNION FINANCE: 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.
UNION FINANCE
Largest movements
- Cash +€93,364
up €93,364 (+42.1%), from €221,715 to €315,079
mainly Net result for the year (+€141,420) and Receivables within one year (+€64,211)
- Receivables within one year -€64,211
down €64,211 (-77.2%), from €83,205 to €18,995
of which Trade receivables: -€64,407
- Intangible fixed assets -€56,759
down €56,759 (-44.4%), from €127,709 to €70,949
- Debts after one year -€58,346
down €58,346 (-42.5%), from €137,348 to €79,002
- Current portion of long-term debt +€24,046
up €24,046 (+32.4%), from €74,301 to €98,346
- Profit (loss) carried forward +€21,420
up €21,420 (+113%), from €18,902 to €40,322
- Trade debts -€11,359
down €11,359 (-32.1%), from €35,412 to €24,054
- Tax, wage and social debts -€5,620
down €5,620 (-8.4%), from €67,213 to €61,593
of which Taxes: -€11,001
- Gross operating margin +€52,870
up €52,870 (+10.7%), from €494,816 to €547,685
- Staff costs +€50,815
up €50,815 (+21.2%), from €239,801 to €290,616
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €478,912 | €449,053 | -€29,859 | -6.2% |
| Fixed assets | 21/28 | €173,218 | €114,429 | -€58,789 | -33.9% |
| Intangible fixed assets | 21 | €127,709 | €70,949 | -€56,759 | -44.4% |
| Tangible fixed assets | 22/27 | €16,059 | €14,030 | -€2,029 | -12.6% |
| Furniture and vehicles | 24 | €16,059 | €14,030 | -€2,029 | -12.6% |
| Financial fixed assets | 28 | €29,450 | €29,450 | = | 0.0% |
| Current assets | 29/58 | €305,694 | €334,624 | +€28,930 | +9.5% |
| Amounts receivable within one year | 40/41 | €83,205 | €18,995 | -€64,211 | -77.2% |
| Trade receivables | 40 | €71,408 | €7,001 | -€64,407 | -90.2% |
| Other amounts receivable | 41 | €11,797 | €11,994 | +€197 | +1.7% |
| Cash at bank and in hand | 54/58 | €221,715 | €315,079 | +€93,364 | +42.1% |
| Deferred charges and accrued income | 490/1 | €774 | €550 | -€224 | -28.9% |
| Total equity and liabilities | 10/49 | €478,912 | €449,053 | -€29,859 | -6.2% |
| Equity | 10/15 | €43,982 | €65,402 | +€21,420 | +48.7% |
| Contributions | 10/11 | €25,080 | €25,080 | = | 0.0% |
| Profit (loss) carried forward | 14 | €18,902 | €40,322 | +€21,420 | +113% |
| Amounts payable | 17/49 | €434,930 | €383,651 | -€51,279 | -11.8% |
| Amounts payable after more than one year | 17 | €137,348 | €79,002 | -€58,346 | -42.5% |
| Financial debts | 170/4 | €137,348 | €79,002 | -€58,346 | -42.5% |
| Amounts payable within one year | 42/48 | €297,582 | €304,649 | +€7,067 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €74,301 | €98,346 | +€24,046 | +32.4% |
| Trade debts | 44 | €35,412 | €24,054 | -€11,359 | -32.1% |
| Suppliers | 440/4 | €35,412 | €24,054 | -€11,359 | -32.1% |
| Taxes, remuneration and social security | 45 | €67,213 | €61,593 | -€5,620 | -8.4% |
| Taxes | 450/3 | €32,464 | €21,463 | -€11,001 | -33.9% |
| Remuneration and social security | 454/9 | €34,749 | €40,130 | +€5,381 | +15.5% |
| Other amounts payable | 47/48 | €120,656 | €120,656 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €239,801 | €290,616 | +€50,815 | +21.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,149 | €60,932 | +€2,783 | +4.8% |
| Other operating charges | 640/8 | €3,686 | €2,971 | -€715 | -19.4% |
| Gross operating margin | 9900 | €494,816 | €547,685 | +€52,870 | +10.7% |
| Operating profit (loss) | 9901 | €193,179 | €193,166 | -€14 | 0.0% |
| Financial income | 75/76B | €211 | €1,229 | +€1,018 | +482% |
| Recurring financial income | 75 | €211 | €1,229 | +€1,018 | +482% |
| Financial charges | 65/66B | €3,226 | €2,679 | -€547 | -17.0% |
| Recurring financial charges | 65 | €3,226 | €2,679 | -€547 | -17.0% |
| Profit (loss) for the period before taxes | 9903 | €190,164 | €191,716 | +€1,551 | +0.8% |
| Income taxes | 67/77 | €51,263 | €50,295 | -€967 | -1.9% |
| Profit (loss) for the period | 9904 | €138,902 | €141,420 | +€2,519 | +1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €138,902 | €141,420 | +€2,519 | +1.8% |
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 16 October 2026 via checked.be.