UpGrade Agency: 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.
UpGrade Agency
Largest movements
- Receivables within one year +€49,224
up €49,224 (+205%), from €24,069 to €73,293
of which Trade receivables: +€38,992
- Cash +€9,785
up €9,785 (+101%), from €9,729 to €19,514
mainly Net result for the year (+€32,995) and Tax, wage and social debts (+€19,484)
- Tangible fixed assets -€4,641
down €4,641 (-31.1%), from €14,906 to €10,264
- Intangible fixed assets -€2,800
down €2,800 (-36.5%), from €7,668 to €4,868
- Profit (loss) carried forward +€32,995
up €32,995 (+83.5%), from €39,538 to €72,533
- Tax, wage and social debts +€19,484
up €19,484 (+168%), from €11,577 to €31,061
- Trade debts -€1,437
down €1,437 (-30.0%), from €4,784 to €3,347
- Depreciation +€6,382
up €6,382 (+254%), from €2,509 to €8,891
- Gross operating margin -€3,019
down €3,019 (-5.6%), from €53,675 to €50,656
- Taxes -€2,661
down €2,661 (-23.0%), from €11,577 to €8,916
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 | €56,899 | €107,940 | +€51,041 | +89.7% |
| Formation expenses | 20 | €526 | - | -€526 | |
| Fixed assets | 21/28 | €22,574 | €15,133 | -€7,441 | -33.0% |
| Intangible fixed assets | 21 | €7,668 | €4,868 | -€2,800 | -36.5% |
| Tangible fixed assets | 22/27 | €14,906 | €10,264 | -€4,641 | -31.1% |
| Furniture and vehicles | 24 | €14,906 | €10,264 | -€4,641 | -31.1% |
| Current assets | 29/58 | €33,798 | €92,807 | +€59,009 | +175% |
| Amounts receivable within one year | 40/41 | €24,069 | €73,293 | +€49,224 | +205% |
| Trade receivables | 40 | €22,353 | €61,345 | +€38,992 | +174% |
| Other amounts receivable | 41 | €1,717 | €11,948 | +€10,232 | +596% |
| Cash at bank and in hand | 54/58 | €9,729 | €19,514 | +€9,785 | +101% |
| Total equity and liabilities | 10/49 | €56,899 | €107,940 | +€51,041 | +89.7% |
| Equity | 10/15 | €40,538 | €73,533 | +€32,995 | +81.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,538 | €72,533 | +€32,995 | +83.5% |
| Amounts payable | 17/49 | €16,361 | €34,407 | +€18,046 | +110% |
| Amounts payable within one year | 42/48 | €16,361 | €34,407 | +€18,046 | +110% |
| Trade debts | 44 | €4,784 | €3,347 | -€1,437 | -30.0% |
| Suppliers | 440/4 | €4,784 | €3,347 | -€1,437 | -30.0% |
| Taxes, remuneration and social security | 45 | €11,577 | €31,061 | +€19,484 | +168% |
| Taxes | 450/3 | €11,577 | €31,061 | +€19,484 | +168% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,509 | €8,891 | +€6,382 | +254% |
| Gross operating margin | 9900 | €53,675 | €50,656 | -€3,019 | -5.6% |
| Operating profit (loss) | 9901 | €51,166 | €41,766 | -€9,401 | -18.4% |
| Financial income | 75/76B | - | €324 | +€324 | |
| Recurring financial income | 75 | - | €324 | +€324 | |
| Financial charges | 65/66B | €52 | €179 | +€127 | +247% |
| Recurring financial charges | 65 | €52 | €179 | +€127 | +247% |
| Profit (loss) for the period before taxes | 9903 | €51,115 | €41,911 | -€9,204 | -18.0% |
| Income taxes | 67/77 | €11,577 | €8,916 | -€2,661 | -23.0% |
| Profit (loss) for the period | 9904 | €39,538 | €32,995 | -€6,543 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €39,538 | €32,995 | -€6,543 | -16.5% |
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 24 October 2026 via checked.be.