UNIPOLE: 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.
UNIPOLE
Largest movements
- Tangible fixed assets +€62,524
up €62,524 (+93.2%), from €67,069 to €129,593
of which Land and buildings: +€96,793
- Receivables after one year +€50,472
up €50,472, from €0 to €50,472
of which Trade receivables: +€33,251
- Receivables within one year -€35,627
no longer reported in 2025 (was €35,627)
of which Trade receivables: -€33,592
- Cash -€15,994
down €15,994 (-16.3%), from €97,978 to €81,984
mainly Investment in fixed assets (net) (-€99,642) and Other debts (-€52,694)
- Financial fixed assets +€10,000
up €10,000 (+667%), from €1,500 to €11,500
- Debts after one year +€110,721
new in 2025: €110,721
- Other debts -€52,694
no longer reported in 2025 (was €52,694)
- Profit (loss) carried forward +€28,617
up €28,617 (+27.6%), from €103,711 to €132,328
- Trade debts -€4,544
no longer reported in 2025 (was €4,544)
of which Suppliers: -€4,544
- Turnover +€188,984
new in 2025: €188,984
- Taxes -€19,115
down €19,115 (-70.3%), from €27,183 to €8,067
- Depreciation +€18,859
up €18,859 (+228%), from €8,259 to €27,118
- Gross operating margin +€14,003
up €14,003 (+26.1%), from €53,701 to €67,704
- Purchases and services +€10,911
up €10,911 (+9.1%), from €119,685 to €130,596
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 | €202,174 | €283,049 | +€80,875 | +40.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €68,569 | €141,093 | +€72,524 | +106% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €67,069 | €129,593 | +€62,524 | +93.2% |
| Land and buildings | 22 | €26,792 | €123,585 | +€96,793 | +361% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €9,629 | €6,008 | -€3,621 | -37.6% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Assets under construction and advance payments | 27 | €30,648 | - | -€30,648 | |
| Financial fixed assets | 28 | €1,500 | €11,500 | +€10,000 | +667% |
| Current assets | 29/58 | €133,605 | €141,956 | +€8,351 | +6.3% |
| Amounts receivable after more than one year | 29 | €0 | €50,472 | +€50,472 | |
| Trade receivables | 290 | €0 | €33,251 | +€33,251 | |
| Other amounts receivable | 291 | €0 | €17,222 | +€17,222 | |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €35,627 | - | -€35,627 | |
| Trade receivables | 40 | €33,592 | - | -€33,592 | |
| Other amounts receivable | 41 | €2,035 | - | -€2,035 | |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €97,978 | €81,984 | -€15,994 | -16.3% |
| Deferred charges and accrued income | 490/1 | €0 | €9,500 | +€9,500 | |
| Total equity and liabilities | 10/49 | €202,174 | €283,049 | +€80,875 | +40.0% |
| Equity | 10/15 | €143,711 | €172,328 | +€28,617 | +19.9% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Capital | 10 | €40,000 | €40,000 | = | 0.0% |
| Issued capital | 100 | €40,000 | €40,000 | = | 0.0% |
| Uncalled capital | 101 | €0 | €0 | = | |
| Contributions outside capital | 11 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €103,711 | €132,328 | +€28,617 | +27.6% |
| Amounts payable | 17/49 | €58,463 | €110,721 | +€52,258 | +89.4% |
| Amounts payable after more than one year | 17 | - | €110,721 | +€110,721 | |
| Financial debts | 170/4 | - | €110,721 | +€110,721 | |
| Amounts payable within one year | 42/48 | €58,463 | €0 | -€58,463 | -100% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €4,544 | - | -€4,544 | |
| Suppliers | 440/4 | €4,544 | - | -€4,544 | |
| Bills of exchange payable | 441 | €0 | - | = | |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €1,225 | - | -€1,225 | |
| Taxes | 450/3 | €1,191 | - | -€1,191 | |
| Remuneration and social security | 454/9 | €34 | - | -€34 | |
| Other amounts payable | 47/48 | €52,694 | - | -€52,694 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Turnover | 70 | - | €188,984 | +€188,984 | |
| Goods, raw materials, services and sundry goods | 60/61 | €119,685 | €130,596 | +€10,911 | +9.1% |
| Remuneration, social security and pensions | 62 | €900 | €0 | -€900 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,259 | €27,118 | +€18,859 | +228% |
| Other operating charges | 640/8 | €537 | €907 | +€370 | +68.8% |
| Gross operating margin | 9900 | €53,701 | €67,704 | +€14,003 | +26.1% |
| Operating profit (loss) | 9901 | €44,004 | €39,679 | -€4,325 | -9.8% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €232 | €2,994 | +€2,762 | +1,189% |
| Recurring financial charges | 65 | €232 | €2,994 | +€2,762 | +1,189% |
| Profit (loss) for the period before taxes | 9903 | €43,773 | €36,685 | -€7,088 | -16.2% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €27,183 | €8,067 | -€19,115 | -70.3% |
| Profit (loss) for the period | 9904 | €16,590 | €28,617 | +€12,027 | +72.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,590 | €28,617 | +€12,027 | +72.5% |
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 30 October 2026 via checked.be.