UPANDUPS: 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.
UPANDUPS
Largest movements
- Tangible fixed assets +€416,483
up €416,483 (+435.6%), from €95,619 to €512,102
of which Land and buildings: +€395,463
- Intangible fixed assets +€60,368
up €60,368 (+526.8%), from €11,459 to €71,827
- Receivables within one year +€21,908
up €21,908 (+44.6%), from €49,157 to €71,064
of which Other amounts receivable: +€24,092
- Cash -€13,000
down €13,000 (-21.2%), from €61,383 to €48,383
mainly Investment in fixed assets (net) (-€536,010) and Receivables within one year (-€21,908)
- Deferred charges and accrued income +€10,877
up €10,877 (+181.3%), from €5,999 to €16,876
- Debts after one year +€414,430
up €414,430, from €0 to €414,430
- Reserves +€28,172
up €28,172 (+16.2%), from €173,700 to €201,872
- Current portion of long-term debt +€25,305
up €25,305, from €0 to €25,305
- Trade debts +€23,176
up €23,176 (+835.5%), from €2,774 to €25,950
- Staff costs +€33,326
up €33,326 (+31.7%), from €105,258 to €138,584
- Depreciation +€32,512
up €32,512 (+122.0%), from €26,648 to €59,160
- Gross operating margin +€25,752
up €25,752 (+11.9%), from €216,606 to €242,358
- Taxes -€15,318
down €15,318 (-84.5%), from €18,136 to €2,817
- Financial charges +€9,877
up €9,877 (+558.4%), from €1,769 to €11,646
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 | €224,795 | €721,430 | +€496,635 | +220.9% |
| Fixed assets | 21/28 | €108,257 | €585,107 | +€476,850 | +440.5% |
| Intangible fixed assets | 21 | €11,459 | €71,827 | +€60,368 | +526.8% |
| Tangible fixed assets | 22/27 | €95,619 | €512,102 | +€416,483 | +435.6% |
| Land and buildings | 22 | €67,885 | €463,348 | +€395,463 | +582.5% |
| Plant, machinery and equipment | 23 | €884 | €3,722 | +€2,838 | +321.2% |
| Furniture and vehicles | 24 | €22,533 | €38,982 | +€16,449 | +73.0% |
| Other tangible fixed assets | 26 | €4,317 | €6,050 | +€1,733 | +40.1% |
| Financial fixed assets | 28 | €1,179 | €1,179 | = | 0.0% |
| Current assets | 29/58 | €116,539 | €136,323 | +€19,785 | +17.0% |
| Amounts receivable within one year | 40/41 | €49,157 | €71,064 | +€21,908 | +44.6% |
| Trade receivables | 40 | €47,507 | €45,323 | -€2,184 | -4.6% |
| Other amounts receivable | 41 | €1,650 | €25,742 | +€24,092 | +1460.1% |
| Cash at bank and in hand | 54/58 | €61,383 | €48,383 | -€13,000 | -21.2% |
| Deferred charges and accrued income | 490/1 | €5,999 | €16,876 | +€10,877 | +181.3% |
| Total equity and liabilities | 10/49 | €224,795 | €721,430 | +€496,635 | +220.9% |
| Equity | 10/15 | €207,447 | €235,619 | +€28,172 | +13.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €173,700 | €201,872 | +€28,172 | +16.2% |
| Distributable reserves | 133 | €173,700 | €201,872 | +€28,172 | +16.2% |
| Profit (loss) carried forward | 14 | €27,547 | €27,547 | = | 0.0% |
| Amounts payable | 17/49 | €17,348 | €485,811 | +€468,462 | +2700.4% |
| Amounts payable after more than one year | 17 | €0 | €414,430 | +€414,430 | |
| Financial debts | 170/4 | €0 | €414,430 | +€414,430 | |
| Amounts payable within one year | 42/48 | €17,348 | €71,294 | +€53,946 | +311.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | €25,305 | +€25,305 | |
| Financial debts | 43 | €2,345 | €279 | -€2,065 | -88.1% |
| Credit institutions | 430/8 | €2,345 | €279 | -€2,065 | -88.1% |
| Trade debts | 44 | €2,774 | €25,950 | +€23,176 | +835.5% |
| Suppliers | 440/4 | €2,774 | €25,950 | +€23,176 | +835.5% |
| Taxes, remuneration and social security | 45 | €8,327 | €9,872 | +€1,545 | +18.6% |
| Taxes | 450/3 | €3,544 | €47 | -€3,497 | -98.7% |
| Remuneration and social security | 454/9 | €4,784 | €9,825 | +€5,041 | +105.4% |
| Other amounts payable | 47/48 | €3,902 | €9,888 | +€5,986 | +153.4% |
| Accrued charges and deferred income | 492/3 | - | €86 | +€86 | |
| Remuneration, social security and pensions | 62 | €105,258 | €138,584 | +€33,326 | +31.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,648 | €59,160 | +€32,512 | +122.0% |
| Other operating charges | 640/8 | €1,765 | €2,046 | +€281 | +15.9% |
| Non-recurring operating charges | 66A | €41,273 | €0 | -€41,273 | -100.0% |
| Gross operating margin | 9900 | €216,606 | €242,358 | +€25,752 | +11.9% |
| Operating profit (loss) | 9901 | €41,662 | €42,568 | +€907 | +2.2% |
| Financial income | 75/76B | €99 | €67 | -€33 | -32.8% |
| Recurring financial income | 75 | €99 | €67 | -€33 | -32.8% |
| Financial charges | 65/66B | €1,769 | €11,646 | +€9,877 | +558.4% |
| Recurring financial charges | 65 | €1,769 | €11,646 | +€9,877 | +558.4% |
| Profit (loss) for the period before taxes | 9903 | €39,992 | €30,989 | -€9,003 | -22.5% |
| Income taxes | 67/77 | €18,136 | €2,817 | -€15,318 | -84.5% |
| Profit (loss) for the period | 9904 | €21,857 | €28,172 | +€6,316 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €21,857 | €28,172 | +€6,316 | +28.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.