UPGEST: 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.
UPGEST
Largest movements
- Receivables within one year -€11,198
down €11,198 (-79.7%), from €14,045 to €2,847
of which Trade receivables: -€11,867
- Cash +€3,440
up €3,440 (+18.1%), from €19,052 to €22,491
mainly Receivables within one year (+€11,198) and Net result for the year (+€4,871)
- Tangible fixed assets -€554
down €554 (-28.6%), from €1,936 to €1,382
of which Furniture and vehicles: -€388
- Other debts -€5,654
down €5,654 (-97.8%), from €5,779 to €125
- Trade debts -€1,886
down €1,886 (-12.8%), from €14,779 to €12,893
- Tax, wage and social debts -€812
down €812 (-89.7%), from €905 to €93
- Gross operating margin -€12,874
down €12,874 (-62.1%), from €20,723 to €7,849
- Taxes -€6,277
down €6,277 (-81.8%), from €7,677 to €1,400
- Depreciation -€1,329
down €1,329 (-70.6%), from €1,883 to €554
- Other operating charges -€894
down €894 (-46.4%), from €1,927 to €1,034
- Financial income -€208
down €208 (-55.7%), from €373 to €165
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 | €42,033 | €33,720 | -€8,313 | -19.8% |
| Fixed assets | 21/28 | €1,936 | €1,382 | -€554 | -28.6% |
| Tangible fixed assets | 22/27 | €1,936 | €1,382 | -€554 | -28.6% |
| Furniture and vehicles | 24 | €388 | - | -€388 | |
| Other tangible fixed assets | 26 | €1,548 | €1,382 | -€166 | -10.7% |
| Current assets | 29/58 | €40,097 | €32,338 | -€7,759 | -19.4% |
| Amounts receivable after more than one year | 29 | €7,000 | €7,000 | = | 0.0% |
| Other amounts receivable | 291 | €7,000 | €7,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €14,045 | €2,847 | -€11,198 | -79.7% |
| Trade receivables | 40 | €14,045 | €2,178 | -€11,867 | -84.5% |
| Other amounts receivable | 41 | - | €669 | +€669 | |
| Cash at bank and in hand | 54/58 | €19,052 | €22,491 | +€3,440 | +18.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | -€0 | |
| Total equity and liabilities | 10/49 | €42,033 | €33,720 | -€8,313 | -19.8% |
| Equity | 10/15 | €20,000 | €20,039 | +€38 | +0.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €13,800 | €13,800 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €11,940 | €11,940 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €38 | +€38 | |
| Amounts payable | 17/49 | €22,033 | €13,681 | -€8,351 | -37.9% |
| Amounts payable within one year | 42/48 | €22,033 | €13,681 | -€8,352 | -37.9% |
| Trade debts | 44 | €14,779 | €12,893 | -€1,886 | -12.8% |
| Suppliers | 440/4 | €14,779 | €12,893 | -€1,886 | -12.8% |
| Advances received on contracts in progress | 46 | €570 | €570 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €905 | €93 | -€812 | -89.7% |
| Taxes | 450/3 | €905 | €93 | -€812 | -89.7% |
| Other amounts payable | 47/48 | €5,779 | €125 | -€5,654 | -97.8% |
| Accrued charges and deferred income | 492/3 | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,883 | €554 | -€1,329 | -70.6% |
| Other operating charges | 640/8 | €1,927 | €1,034 | -€894 | -46.4% |
| Gross operating margin | 9900 | €20,723 | €7,849 | -€12,874 | -62.1% |
| Operating profit (loss) | 9901 | €16,913 | €6,262 | -€10,651 | -63.0% |
| Financial income | 75/76B | €373 | €165 | -€208 | -55.7% |
| Recurring financial income | 75 | €373 | €165 | -€208 | -55.7% |
| Financial charges | 65/66B | €159 | €156 | -€2 | -1.5% |
| Recurring financial charges | 65 | €159 | €156 | -€2 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €17,128 | €6,271 | -€10,857 | -63.4% |
| Income taxes | 67/77 | €7,677 | €1,400 | -€6,277 | -81.8% |
| Profit (loss) for the period | 9904 | €9,451 | €4,871 | -€4,580 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €9,451 | €4,871 | -€4,580 | -48.5% |
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 10 October 2026 via checked.be.