Up Epi: 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.
Up Epi
Largest movements
- Tangible fixed assets -€72,459
down €72,459 (-11.0%), from €655,819 to €583,360
of which Land and buildings: -€41,711
- Cash -€27,018
down €27,018 (-49.2%), from €54,959 to €27,940
mainly Debts after one year (-€59,116) and Trade debts (-€21,089)
- Intangible fixed assets -€13,146
down €13,146 (-45.2%), from €29,076 to €15,930
- Deferred charges and accrued income +€12,049
up €12,049 (+287%), from €4,203 to €16,252
- Stocks and contracts +€9,575
up €9,575 (+94.8%), from €10,105 to €19,681
- Debts after one year -€59,116
down €59,116 (-13.1%), from €451,112 to €391,996
- Profit (loss) carried forward +€22,696
up €22,696 (+16.7%), from €136,071 to €158,768
- Trade debts -€21,089
down €21,089 (-28.7%), from €73,479 to €52,389
- Tax, wage and social debts -€11,668
down €11,668 (-22.5%), from €51,956 to €40,289
of which Remuneration and social security: -€8,602
- Current portion of long-term debt -€10,965
down €10,965 (-15.6%), from €70,081 to €59,116
- Gross operating margin +€31,385
up €31,385 (+7.4%), from €426,603 to €457,989
- Depreciation -€7,757
down €7,757 (-8.2%), from €94,032 to €86,276
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 | €862,434 | €775,407 | -€87,027 | -10.1% |
| Formation expenses | 20 | €9,144 | €9,144 | = | 0.0% |
| Fixed assets | 21/28 | €685,020 | €599,415 | -€85,605 | -12.5% |
| Intangible fixed assets | 21 | €29,076 | €15,930 | -€13,146 | -45.2% |
| Tangible fixed assets | 22/27 | €655,819 | €583,360 | -€72,459 | -11.0% |
| Land and buildings | 22 | €607,522 | €565,810 | -€41,711 | -6.9% |
| Plant, machinery and equipment | 23 | €30,664 | €7,118 | -€23,546 | -76.8% |
| Furniture and vehicles | 24 | €8,268 | €3,953 | -€4,315 | -52.2% |
| Other tangible fixed assets | 26 | €9,366 | €6,479 | -€2,887 | -30.8% |
| Financial fixed assets | 28 | €125 | €125 | = | 0.0% |
| Current assets | 29/58 | €168,270 | €166,848 | -€1,422 | -0.8% |
| Stocks and contracts in progress | 3 | €10,105 | €19,681 | +€9,575 | +94.8% |
| Stocks | 30/36 | €10,105 | €19,681 | +€9,575 | +94.8% |
| Amounts receivable within one year | 40/41 | €99,004 | €102,976 | +€3,972 | +4.0% |
| Trade receivables | 40 | €52,398 | €43,981 | -€8,416 | -16.1% |
| Other amounts receivable | 41 | €46,606 | €58,994 | +€12,388 | +26.6% |
| Cash at bank and in hand | 54/58 | €54,959 | €27,940 | -€27,018 | -49.2% |
| Deferred charges and accrued income | 490/1 | €4,203 | €16,252 | +€12,049 | +287% |
| Total equity and liabilities | 10/49 | €862,434 | €775,407 | -€87,027 | -10.1% |
| Equity | 10/15 | €208,499 | €227,067 | +€18,567 | +8.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €16,047 | €16,047 | = | 0.0% |
| Distributable reserves | 133 | €16,047 | €16,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | €136,071 | €158,768 | +€22,696 | +16.7% |
| Investment grants | 15 | €43,981 | €39,851 | -€4,129 | -9.4% |
| Amounts payable | 17/49 | €653,934 | €548,340 | -€105,594 | -16.1% |
| Amounts payable after more than one year | 17 | €451,112 | €391,996 | -€59,116 | -13.1% |
| Financial debts | 170/4 | €451,112 | €391,996 | -€59,116 | -13.1% |
| Amounts payable within one year | 42/48 | €195,516 | €151,794 | -€43,722 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €70,081 | €59,116 | -€10,965 | -15.6% |
| Trade debts | 44 | €73,479 | €52,389 | -€21,089 | -28.7% |
| Suppliers | 440/4 | €73,479 | €52,389 | -€21,089 | -28.7% |
| Taxes, remuneration and social security | 45 | €51,956 | €40,289 | -€11,668 | -22.5% |
| Taxes | 450/3 | €6,743 | €3,677 | -€3,066 | -45.5% |
| Remuneration and social security | 454/9 | €45,214 | €36,612 | -€8,602 | -19.0% |
| Accrued charges and deferred income | 492/3 | €7,306 | €4,550 | -€2,756 | -37.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €332,185 | €335,637 | +€3,453 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,032 | €86,276 | -€7,757 | -8.2% |
| Other operating charges | 640/8 | €10,409 | €5,930 | -€4,479 | -43.0% |
| Gross operating margin | 9900 | €426,603 | €457,989 | +€31,385 | +7.4% |
| Operating profit (loss) | 9901 | -€10,023 | €30,146 | +€40,169 | |
| Financial income | 75/76B | €6,161 | €4,655 | -€1,506 | -24.4% |
| Recurring financial income | 75 | €6,161 | €4,655 | -€1,506 | -24.4% |
| Financial charges | 65/66B | €13,514 | €11,936 | -€1,578 | -11.7% |
| Recurring financial charges | 65 | €13,514 | €11,936 | -€1,578 | -11.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,375 | €22,866 | +€40,241 | |
| Income taxes | 67/77 | €172 | €169 | -€3 | -1.6% |
| Profit (loss) for the period | 9904 | -€17,547 | €22,696 | +€40,244 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,547 | €22,696 | +€40,244 |
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 14 October 2026 via checked.be.