United Underwriters: what changed
What changed
United Underwriters
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€2.0m
2024 · €1.5m+€422,563
Equity
€4.5m
2024 · €2.6m+€2.0m
Cash
€47,792
2024 · €822+€46,971
Balance sheet total
€5.1m
2024 · €4.5m+€621,068
Largest movements
Assets
- Financial fixed assets +€552,000
up €552,000 (+12.3%), from €4.5m to €5.0m
Equity and liabilities
- Profit (loss) carried forward +€2.0m
up €2.0m (+319%), from €612,530 to €2.6m
- Other debts -€943,441
down €943,441 (-62.5%), from €1.5m to €565,559
- Current portion of long-term debt -€387,787
down €387,787 (-100%), from €387,787 to €0
Income statement
- Financial income +€400,000
up €400,000 (+25.0%), from €1.6m to €2.0m
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€1.5m
Depreciation
-€383
Other operating charges
-€935
Other operating items
-€19,171
Financial income
+€400,000
Financial charges
+€43,051
Result 2025
€2.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.0m
Investment
-€574,480
Financing
-€387,787
Cash 2024
€822
From operations (derived)
+€1.0m
Net result for the year
+€2.0m
Depreciation
+€383
Smaller working-capital items
-€1,686
Other debts
-€943,441
Investment (derived)
-€574,480
Investment in fixed assets (net)
-€574,480
Financing
-€387,787
Current portion of long-term debt
-€387,787
Cash 2025
€47,792
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,473,982 | €5,095,050 | +€621,068 | +13.9% |
| Fixed assets | 21/28 | €4,473,160 | €5,047,257 | +€574,097 | +12.8% |
| Intangible fixed assets | 21 | - | €22,097 | +€22,097 | |
| Financial fixed assets | 28 | €4,473,160 | €5,025,160 | +€552,000 | +12.3% |
| Affiliated companies | 280/1 | €4,473,160 | €5,025,160 | +€552,000 | +12.3% |
| Participating interests | 280 | €4,473,160 | €5,025,160 | +€552,000 | +12.3% |
| Current assets | 29/58 | €822 | €47,792 | +€46,971 | +5,717% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €822 | €47,792 | +€46,971 | +5,717% |
| Total equity and liabilities | 10/49 | €4,473,982 | €5,095,050 | +€621,068 | +13.9% |
| Equity | 10/15 | €2,564,153 | €4,518,135 | +€2.0m | +76.2% |
| Contributions | 10/11 | €1,951,623 | €1,951,623 | = | 0.0% |
| Profit (loss) carried forward | 14 | €612,530 | €2,566,512 | +€2.0m | +319% |
| Amounts payable | 17/49 | €1,909,829 | €576,914 | -€1.3m | -69.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Other loans | 174 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €1,904,698 | €573,889 | -€1.3m | -69.9% |
| Current portion of amounts payable after more than one year | 42 | €387,787 | €0 | -€387,787 | -100% |
| Trade debts | 44 | €7,911 | €8,330 | +€420 | +5.3% |
| Suppliers | 440/4 | €7,911 | €8,330 | +€420 | +5.3% |
| Other amounts payable | 47/48 | €1,509,000 | €565,559 | -€943,441 | -62.5% |
| Accrued charges and deferred income | 492/3 | €5,131 | €3,025 | -€2,106 | -41.0% |
| Operating charges | 60/66A | €11,825 | €32,313 | +€20,488 | +173% |
| Services and other goods | 61 | €11,825 | €30,996 | +€19,171 | +162% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €383 | +€383 | |
| Other operating charges | 640/8 | - | €935 | +€935 | |
| Operating profit (loss) | 9901 | -€11,825 | -€32,313 | -€20,488 | -173% |
| Financial income | 75/76B | €1,600,000 | €2,000,000 | +€400,000 | +25.0% |
| Recurring financial income | 75 | €1,600,000 | €2,000,000 | +€400,000 | +25.0% |
| Income from financial fixed assets | 750 | €1,600,000 | €2,000,000 | +€400,000 | +25.0% |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Financial charges | 65/66B | €56,755 | €13,704 | -€43,051 | -75.9% |
| Recurring financial charges | 65 | €56,755 | €13,704 | -€43,051 | -75.9% |
| Debt charges | 650 | €56,315 | €12,993 | -€43,322 | -76.9% |
| Other financial charges | 652/9 | €441 | €711 | +€270 | +61.4% |
| Profit (loss) for the period before taxes | 9903 | €1,531,420 | €1,953,983 | +€422,563 | +27.6% |
| Profit (loss) for the period | 9904 | €1,531,420 | €1,953,983 | +€422,563 | +27.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,531,420 | €1,953,983 | +€422,563 | +27.6% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.