UP learning Belgium: 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 learning Belgium
Largest movements
- Cash -€127,939
down €127,939 (-84.1%), from €152,191 to €24,252
mainly Debts after one year (-€158,563) and Receivables within one year (-€81,813)
- Receivables within one year +€81,813
up €81,813 (+61.8%), from €132,426 to €214,239
of which Other amounts receivable: +€193,526
- Intangible fixed assets -€65,552
down €65,552 (-34.9%), from €188,054 to €122,502
- Deferred charges and accrued income -€12,932
no longer reported in 2025 (was €12,932)
- Debts after one year -€158,563
no longer reported in 2025 (was €158,563)
- Accrued charges and deferred income -€71,104
down €71,104 (-25.9%), from €274,826 to €203,722
- Profit (loss) carried forward +€66,397
up €66,397 (+95.5%), from -€69,509 to -€3,112
- Trade debts +€49,528
up €49,528 (+143%), from €34,564 to €84,092
- Tax, wage and social debts -€10,867
down €10,867 (-26.3%), from €41,297 to €30,429
of which Remuneration and social security: -€18,354
- Depreciation -€140,802
down €140,802 (-68.2%), from €206,354 to €65,552
- Gross operating margin -€99,800
down €99,800 (-24.9%), from €400,528 to €300,728
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 | €485,603 | €360,993 | -€124,609 | -25.7% |
| Fixed assets | 21/28 | €188,054 | €122,502 | -€65,552 | -34.9% |
| Intangible fixed assets | 21 | €188,054 | €122,502 | -€65,552 | -34.9% |
| Current assets | 29/58 | €297,549 | €238,491 | -€59,058 | -19.8% |
| Amounts receivable within one year | 40/41 | €132,426 | €214,239 | +€81,813 | +61.8% |
| Trade receivables | 40 | €129,119 | €17,406 | -€111,713 | -86.5% |
| Other amounts receivable | 41 | €3,307 | €196,833 | +€193,526 | +5,852% |
| Cash at bank and in hand | 54/58 | €152,191 | €24,252 | -€127,939 | -84.1% |
| Deferred charges and accrued income | 490/1 | €12,932 | - | -€12,932 | |
| Total equity and liabilities | 10/49 | €485,603 | €360,993 | -€124,609 | -25.7% |
| Equity | 10/15 | -€23,647 | €42,750 | +€66,397 | |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €5,862 | €5,862 | = | 0.0% |
| Distributable reserves | 133 | €5,862 | €5,862 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,509 | -€3,112 | +€66,397 | +95.5% |
| Amounts payable | 17/49 | €509,250 | €318,243 | -€191,006 | -37.5% |
| Amounts payable after more than one year | 17 | €158,563 | - | -€158,563 | |
| Financial debts | 170/4 | €158,563 | - | -€158,563 | |
| Amounts payable within one year | 42/48 | €75,861 | €114,521 | +€38,660 | +51.0% |
| Trade debts | 44 | €34,564 | €84,092 | +€49,528 | +143% |
| Suppliers | 440/4 | €34,564 | €84,092 | +€49,528 | +143% |
| Taxes, remuneration and social security | 45 | €41,297 | €30,429 | -€10,867 | -26.3% |
| Taxes | 450/3 | - | €7,486 | +€7,486 | |
| Remuneration and social security | 454/9 | €41,297 | €22,943 | -€18,354 | -44.4% |
| Accrued charges and deferred income | 492/3 | €274,826 | €203,722 | -€71,104 | -25.9% |
| Remuneration, social security and pensions | 62 | €165,296 | €168,182 | +€2,886 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €206,354 | €65,552 | -€140,802 | -68.2% |
| Gross operating margin | 9900 | €400,528 | €300,728 | -€99,800 | -24.9% |
| Operating profit (loss) | 9901 | €28,878 | €66,995 | +€38,117 | +132% |
| Financial charges | 65/66B | €88 | €102 | +€14 | +15.7% |
| Recurring financial charges | 65 | €88 | €102 | +€14 | +15.7% |
| Profit (loss) for the period before taxes | 9903 | €28,790 | €66,893 | +€38,103 | +132% |
| Income taxes | 67/77 | €556 | €496 | -€60 | -10.8% |
| Profit (loss) for the period | 9904 | €28,234 | €66,397 | +€38,163 | +135% |
| Profit (loss) for the period to be appropriated | 9905 | €28,234 | €66,397 | +€38,163 | +135% |
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 25 October 2026 via checked.be.