UNITED SECURITY GROUP: 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 SECURITY GROUP
Largest movements
- Receivables within one year -€230,700
down €230,700 (-93.9%), from €245,783 to €15,083
of which Trade receivables: -€230,700
- Stocks and contracts -€24,995
down €24,995 (-9.5%), from €263,268 to €238,274
- Cash -€6,190
down €6,190 (-56.7%), from €10,917 to €4,726
mainly Net result for the year (-€155,941) and Other debts (-€119,693)
- Tangible fixed assets -€5,945
down €5,945 (-23.8%), from €24,996 to €19,051
of which Furniture and vehicles: -€4,099
- Profit (loss) carried forward -€155,941
down €155,941 (-37.7%), from -€413,458 to -€569,399
- Other debts -€119,693
down €119,693 (-70.4%), from €170,000 to €50,307
- Trade debts -€33,697
down €33,697 (-69.8%), from €48,295 to €14,598
- Tax, wage and social debts +€30,704
up €30,704 (+36.8%), from €83,361 to €114,065
- Gross operating margin -€101,008
down €101,008, from €45,467 to -€55,541
- Other operating charges -€59,884
down €59,884 (-92.4%), from €64,806 to €4,922
- Financial charges +€34,269
up €34,269 (+79.4%), from €43,175 to €77,444
- Write-downs -€33,376
no longer reported in 2024 (was €33,376)
- Taxes +€627
up €627, from -€123 to €504
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €565,559 | €293,882 | -€271,677 | -48.0% |
| Fixed assets | 21/28 | €45,591 | €34,756 | -€10,835 | -23.8% |
| Tangible fixed assets | 22/27 | €24,996 | €19,051 | -€5,945 | -23.8% |
| Land and buildings | 22 | €9,407 | €7,674 | -€1,732 | -18.4% |
| Plant, machinery and equipment | 23 | €571 | €458 | -€113 | -19.8% |
| Furniture and vehicles | 24 | €15,018 | €10,918 | -€4,099 | -27.3% |
| Financial fixed assets | 28 | €20,595 | €15,705 | -€4,890 | -23.7% |
| Current assets | 29/58 | €519,968 | €259,126 | -€260,842 | -50.2% |
| Stocks and contracts in progress | 3 | €263,268 | €238,274 | -€24,995 | -9.5% |
| Stocks | 30/36 | €263,268 | €238,274 | -€24,995 | -9.5% |
| Amounts receivable within one year | 40/41 | €245,783 | €15,083 | -€230,700 | -93.9% |
| Trade receivables | 40 | €245,283 | €14,583 | -€230,700 | -94.1% |
| Other amounts receivable | 41 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,917 | €4,726 | -€6,190 | -56.7% |
| Deferred charges and accrued income | 490/1 | - | €1,043 | +€1,043 | |
| Total equity and liabilities | 10/49 | €565,559 | €293,882 | -€271,677 | -48.0% |
| Equity | 10/15 | -€335,275 | -€491,216 | -€155,941 | -46.5% |
| Contributions | 10/11 | €6,300 | €6,300 | = | 0.0% |
| Reserves | 13 | €71,882 | €71,882 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,890 | €1,890 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,890 | €1,890 | = | 0.0% |
| Distributable reserves | 133 | €69,992 | €69,992 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€413,458 | -€569,399 | -€155,941 | -37.7% |
| Amounts payable | 17/49 | €900,834 | €785,099 | -€115,736 | -12.8% |
| Amounts payable after more than one year | 17 | €533,684 | €539,167 | +€5,483 | +1.0% |
| Financial debts | 170/4 | €533,684 | €539,167 | +€5,483 | +1.0% |
| Amounts payable within one year | 42/48 | €367,151 | €245,932 | -€121,218 | -33.0% |
| Current portion of amounts payable after more than one year | 42 | €60,000 | €60,000 | = | 0.0% |
| Financial debts | 43 | €5,495 | €6,962 | +€1,467 | +26.7% |
| Credit institutions | 430/8 | €5,495 | €6,962 | +€1,467 | +26.7% |
| Trade debts | 44 | €48,295 | €14,598 | -€33,697 | -69.8% |
| Suppliers | 440/4 | €48,295 | €14,598 | -€33,697 | -69.8% |
| Taxes, remuneration and social security | 45 | €83,361 | €114,065 | +€30,704 | +36.8% |
| Taxes | 450/3 | €83,361 | €114,065 | +€30,704 | +36.8% |
| Other amounts payable | 47/48 | €170,000 | €50,307 | -€119,693 | -70.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,945 | €5,945 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €33,376 | - | -€33,376 | |
| Other operating charges | 640/8 | €64,806 | €4,922 | -€59,884 | -92.4% |
| Non-recurring operating charges | 66A | €101,115 | €11,708 | -€89,407 | -88.4% |
| Gross operating margin | 9900 | €45,467 | -€55,541 | -€101,008 | |
| Operating profit (loss) | 9901 | -€159,774 | -€78,116 | +€81,658 | +51.1% |
| Financial income | 75/76B | - | €123 | +€123 | |
| Recurring financial income | 75 | - | €123 | +€123 | |
| Financial charges | 65/66B | €43,175 | €77,444 | +€34,269 | +79.4% |
| Recurring financial charges | 65 | €43,175 | €77,444 | +€34,269 | +79.4% |
| Profit (loss) for the period before taxes | 9903 | -€202,949 | -€155,437 | +€47,512 | +23.4% |
| Income taxes | 67/77 | -€123 | €504 | +€627 | |
| Profit (loss) for the period | 9904 | -€202,826 | -€155,941 | +€46,885 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€202,826 | -€155,941 | +€46,885 | +23.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.