UPEO: 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.
UPEO
Largest movements
- Receivables within one year +€53,905
up €53,905 (+50.6%), from €106,510 to €160,415
of which Trade receivables: +€53,905
- Cash +€33,333
up €33,333 (+136.8%), from €24,362 to €57,696
mainly Trade debts (+€87,506) and Deferred charges and accrued income (+€30,195)
- Deferred charges and accrued income -€30,195
down €30,195 (-89.0%), from €33,918 to €3,723
- Tangible fixed assets -€15,030
down €15,030 (-2.7%), from €555,099 to €540,070
of which Land and buildings: -€15,690
- Trade debts +€87,506
up €87,506 (+132.0%), from €66,284 to €153,790
- Debts after one year -€23,516
down €23,516 (-6.3%), from €375,865 to €352,350
- Tax, wage and social debts -€16,592
down €16,592 (-21.1%), from €78,777 to €62,185
of which Taxes: -€17,415
- Gross operating margin -€56,565
down €56,565 (-11.2%), from €503,221 to €446,655
- Taxes -€11,584
down €11,584 (-46.3%), from €24,998 to €13,413
- Staff costs -€11,129
down €11,129 (-2.9%), from €388,293 to €377,164
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €720,075 | €762,088 | +€42,014 | +5.8% |
| Fixed assets | 21/28 | €555,284 | €540,255 | -€15,030 | -2.7% |
| Tangible fixed assets | 22/27 | €555,099 | €540,070 | -€15,030 | -2.7% |
| Land and buildings | 22 | €549,730 | €534,039 | -€15,690 | -2.9% |
| Furniture and vehicles | 24 | €5,370 | €6,030 | +€661 | +12.3% |
| Financial fixed assets | 28 | €185 | €185 | = | 0.0% |
| Current assets | 29/58 | €164,791 | €221,834 | +€57,043 | +34.6% |
| Amounts receivable within one year | 40/41 | €106,510 | €160,415 | +€53,905 | +50.6% |
| Trade receivables | 40 | €106,444 | €160,349 | +€53,905 | +50.6% |
| Other amounts receivable | 41 | €66 | €66 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €24,362 | €57,696 | +€33,333 | +136.8% |
| Deferred charges and accrued income | 490/1 | €33,918 | €3,723 | -€30,195 | -89.0% |
| Total equity and liabilities | 10/49 | €720,075 | €762,088 | +€42,014 | +5.8% |
| Equity | 10/15 | €148,228 | €145,913 | -€2,315 | -1.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €646 | - | -€646 | |
| Investment grants | 15 | €47,583 | €45,913 | -€1,670 | -3.5% |
| Amounts payable | 17/49 | €571,847 | €616,175 | +€44,329 | +7.8% |
| Amounts payable after more than one year | 17 | €375,865 | €352,350 | -€23,516 | -6.3% |
| Financial debts | 170/4 | €375,865 | €352,350 | -€23,516 | -6.3% |
| Amounts payable within one year | 42/48 | €195,981 | €262,416 | +€66,435 | +33.9% |
| Current portion of amounts payable after more than one year | 42 | €22,604 | €23,516 | +€912 | +4.0% |
| Trade debts | 44 | €66,284 | €153,790 | +€87,506 | +132.0% |
| Suppliers | 440/4 | €66,284 | €153,790 | +€87,506 | +132.0% |
| Taxes, remuneration and social security | 45 | €78,777 | €62,185 | -€16,592 | -21.1% |
| Taxes | 450/3 | €33,416 | €16,001 | -€17,415 | -52.1% |
| Remuneration and social security | 454/9 | €45,361 | €46,184 | +€824 | +1.8% |
| Other amounts payable | 47/48 | €28,316 | €22,925 | -€5,391 | -19.0% |
| Accrued charges and deferred income | 492/3 | - | €1,410 | +€1,410 | |
| Remuneration, social security and pensions | 62 | €388,293 | €377,164 | -€11,129 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,028 | €20,931 | -€97 | -0.5% |
| Other operating charges | 640/8 | €5,582 | €5,885 | +€302 | +5.4% |
| Gross operating margin | 9900 | €503,221 | €446,655 | -€56,565 | -11.2% |
| Operating profit (loss) | 9901 | €88,317 | €42,676 | -€45,641 | -51.7% |
| Financial income | 75/76B | €1,696 | €1,686 | -€10 | -0.6% |
| Recurring financial income | 75 | €1,696 | €1,686 | -€10 | -0.6% |
| Financial charges | 65/66B | €22,359 | €18,503 | -€3,857 | -17.2% |
| Recurring financial charges | 65 | €22,359 | €18,503 | -€3,857 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €67,654 | €25,859 | -€41,794 | -61.8% |
| Income taxes | 67/77 | €24,998 | €13,413 | -€11,584 | -46.3% |
| Profit (loss) for the period | 9904 | €42,656 | €12,446 | -€30,210 | -70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,656 | €12,446 | -€30,210 | -70.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.