UPGRADE-IT: 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.
UPGRADE-IT
Largest movements
- Cash -€9,937
down €9,937 (-5.7%), from €175,008 to €165,072
mainly Other debts (-€32,882) and Contributions, distributions and other (-€20,000)
- Other debts -€32,882
down €32,882 (-37.1%), from €88,559 to €55,678
- Reserves +€14,708
up €14,708 (+9.7%), from €152,283 to €166,991
- Tax, wage and social debts +€7,308
up €7,308 (+110.4%), from €6,618 to €13,926
of which Taxes: +€9,558
- Gross operating margin +€31,640
up €31,640 (+122.4%), from €25,850 to €57,489
- Taxes +€10,143
up €10,143 (+237.2%), from €4,276 to €14,419
- Depreciation -€6,237
down €6,237 (-74.3%), from €8,394 to €2,157
- Financial charges +€1,333
up €1,333 (+28.7%), from €4,639 to €5,972
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 | €269,997 | €258,353 | -€11,644 | -4.3% |
| Fixed assets | 21/28 | €3,641 | €1,484 | -€2,157 | -59.2% |
| Tangible fixed assets | 22/27 | €3,641 | €1,484 | -€2,157 | -59.2% |
| Furniture and vehicles | 24 | €3,641 | €1,484 | -€2,157 | -59.2% |
| Current assets | 29/58 | €266,356 | €256,869 | -€9,487 | -3.6% |
| Amounts receivable within one year | 40/41 | €29,848 | €30,323 | +€475 | +1.6% |
| Trade receivables | 40 | €26,741 | €30,323 | +€3,582 | +13.4% |
| Other amounts receivable | 41 | €3,107 | - | -€3,107 | |
| Current investments | 50/53 | €59,575 | €59,575 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €175,008 | €165,072 | -€9,937 | -5.7% |
| Deferred charges and accrued income | 490/1 | €1,924 | €1,899 | -€25 | -1.3% |
| Total equity and liabilities | 10/49 | €269,997 | €258,353 | -€11,644 | -4.3% |
| Equity | 10/15 | €164,683 | €179,391 | +€14,708 | +8.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €152,283 | €166,991 | +€14,708 | +9.7% |
| Distributable reserves | 133 | €152,283 | €166,991 | +€14,708 | +9.7% |
| Amounts payable | 17/49 | €105,314 | €78,962 | -€26,352 | -25.0% |
| Amounts payable within one year | 42/48 | €99,066 | €71,928 | -€27,138 | -27.4% |
| Trade debts | 44 | €3,889 | €2,324 | -€1,564 | -40.2% |
| Suppliers | 440/4 | €3,889 | €2,324 | -€1,564 | -40.2% |
| Taxes, remuneration and social security | 45 | €6,618 | €13,926 | +€7,308 | +110.4% |
| Taxes | 450/3 | €4,368 | €13,926 | +€9,558 | +218.8% |
| Remuneration and social security | 454/9 | €2,250 | - | -€2,250 | |
| Other amounts payable | 47/48 | €88,559 | €55,678 | -€32,882 | -37.1% |
| Accrued charges and deferred income | 492/3 | €6,248 | €7,034 | +€786 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,394 | €2,157 | -€6,237 | -74.3% |
| Other operating charges | 640/8 | €1,754 | €1,819 | +€66 | +3.7% |
| Gross operating margin | 9900 | €25,850 | €57,489 | +€31,640 | +122.4% |
| Operating profit (loss) | 9901 | €15,702 | €53,513 | +€37,811 | +240.8% |
| Financial income | 75/76B | €1,278 | €1,587 | +€309 | +24.2% |
| Recurring financial income | 75 | €1,278 | €1,587 | +€309 | +24.2% |
| Financial charges | 65/66B | €4,639 | €5,972 | +€1,333 | +28.7% |
| Recurring financial charges | 65 | €4,639 | €5,972 | +€1,333 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €12,340 | €49,127 | +€36,787 | +298.1% |
| Income taxes | 67/77 | €4,276 | €14,419 | +€10,143 | +237.2% |
| Profit (loss) for the period | 9904 | €8,064 | €34,708 | +€26,644 | +330.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,064 | €34,708 | +€26,644 | +330.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.