United Codes: 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.
United Codes
Largest movements
- Tangible fixed assets +€697,726
up €697,726 (+25.6%), from €2.7m to €3.4m
of which Land and buildings: +€592,661
- Current investments -€398,080
down €398,080 (-22.1%), from €1.8m to €1.4m
- Financial fixed assets -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Cash -€140,212
down €140,212 (-63.8%), from €219,763 to €79,551
mainly Investment in fixed assets (net) (-€637,064) and Trade debts (-€185,703)
- Receivables within one year +€97,040
up €97,040 (+16.5%), from €588,801 to €685,841
of which Trade receivables: +€79,978
- Reserves +€189,450
up €189,450 (+22.9%), from €827,100 to €1.0m
of which Tax-exempt reserves: +€189,450
- Trade debts -€185,703
down €185,703 (-61.7%), from €301,197 to €115,494
- Gross operating margin -€369,870
down €369,870 (-35.2%), from €1.0m to €679,994
- Financial charges +€214,287
up €214,287 (+799.6%), from €26,798 to €241,085
of which Non-recurring financial charges: +€180,000
- Taxes -€99,016
down €99,016 (-45.6%), from €217,082 to €118,066
- Depreciation -€37,704
down €37,704 (-21.3%), from €177,042 to €139,337
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 | €5,542,880 | €5,621,046 | +€78,167 | +1.4% |
| Fixed assets | 21/28 | €2,928,151 | €3,425,878 | +€497,726 | +17.0% |
| Tangible fixed assets | 22/27 | €2,728,151 | €3,425,878 | +€697,726 | +25.6% |
| Land and buildings | 22 | €2,550,685 | €3,143,346 | +€592,661 | +23.2% |
| Furniture and vehicles | 24 | €177,466 | €276,580 | +€99,114 | +55.8% |
| Other tangible fixed assets | 26 | - | €5,951 | +€5,951 | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €200,000 | €0 | -€200,000 | -100.0% |
| Current assets | 29/58 | €2,614,728 | €2,195,169 | -€419,560 | -16.0% |
| Amounts receivable within one year | 40/41 | €588,801 | €685,841 | +€97,040 | +16.5% |
| Trade receivables | 40 | €554,051 | €634,028 | +€79,978 | +14.4% |
| Other amounts receivable | 41 | €34,750 | €51,813 | +€17,063 | +49.1% |
| Current investments | 50/53 | €1,800,000 | €1,401,920 | -€398,080 | -22.1% |
| Cash at bank and in hand | 54/58 | €219,763 | €79,551 | -€140,212 | -63.8% |
| Deferred charges and accrued income | 490/1 | €6,164 | €27,855 | +€21,692 | +351.9% |
| Total equity and liabilities | 10/49 | €5,542,880 | €5,621,046 | +€78,167 | +1.4% |
| Equity | 10/15 | €3,176,008 | €3,407,275 | +€231,266 | +7.3% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €827,100 | €1,016,550 | +€189,450 | +22.9% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €820,950 | €1,010,400 | +€189,450 | +23.1% |
| Profit (loss) carried forward | 14 | €2,287,408 | €2,329,225 | +€41,816 | +1.8% |
| Amounts payable | 17/49 | €2,366,871 | €2,213,772 | -€153,100 | -6.5% |
| Amounts payable after more than one year | 17 | €1,849,584 | €1,831,053 | -€18,531 | -1.0% |
| Financial debts | 170/4 | €1,849,584 | €1,831,053 | -€18,531 | -1.0% |
| Amounts payable within one year | 42/48 | €515,777 | €375,744 | -€140,033 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €147,667 | €191,667 | +€44,000 | +29.8% |
| Trade debts | 44 | €301,197 | €115,494 | -€185,703 | -61.7% |
| Suppliers | 440/4 | €301,197 | €115,494 | -€185,703 | -61.7% |
| Taxes, remuneration and social security | 45 | €58,992 | €67,758 | +€8,767 | +14.9% |
| Taxes | 450/3 | €58,992 | €67,758 | +€8,767 | +14.9% |
| Other amounts payable | 47/48 | €7,922 | €825 | -€7,097 | -89.6% |
| Accrued charges and deferred income | 492/3 | €1,511 | €6,975 | +€5,464 | +361.6% |
| Non-recurring operating income | 76A | €187,064 | €26,680 | -€160,384 | -85.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €177,042 | €139,337 | -€37,704 | -21.3% |
| Other operating charges | 640/8 | €3,131 | €10,797 | +€7,666 | +244.9% |
| Gross operating margin | 9900 | €1,049,864 | €679,994 | -€369,870 | -35.2% |
| Operating profit (loss) | 9901 | €869,691 | €529,860 | -€339,831 | -39.1% |
| Financial income | 75/76B | €63,359 | €60,558 | -€2,801 | -4.4% |
| Recurring financial income | 75 | €63,359 | €60,558 | -€2,801 | -4.4% |
| Financial charges | 65/66B | €26,798 | €241,085 | +€214,287 | +799.6% |
| Recurring financial charges | 65 | €26,798 | €61,085 | +€34,287 | +127.9% |
| Non-recurring financial charges | 66B | - | €180,000 | +€180,000 | |
| Profit (loss) for the period before taxes | 9903 | €906,252 | €349,332 | -€556,920 | -61.5% |
| Income taxes | 67/77 | €217,082 | €118,066 | -€99,016 | -45.6% |
| Profit (loss) for the period | 9904 | €689,171 | €231,266 | -€457,904 | -66.4% |
| Transfer to tax-exempt reserves | 689 | €315,750 | €189,450 | -€126,300 | -40.0% |
| Profit (loss) for the period to be appropriated | 9905 | €373,421 | €41,816 | -€331,604 | -88.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.