UPGRAID: 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.
UPGRAID
Largest movements
- Current investments +€2.3m
up €2.3m (+108.1%), from €2.1m to €4.3m
- Cash -€1.5m
down €1.5m (-98.6%), from €1.6m to €21,437
mainly Current investments (-€2.3m) and Contributions, distributions and other (-€699,099)
- Other debts +€672,901
up €672,901 (+42599.7%), from €1,580 to €674,481
- Current portion of long-term debt +€66,337
up €66,337 (+316.4%), from €20,967 to €87,304
- Reserves -€56,400
down €56,400 (-1.7%), from €3.4m to €3.3m
- Gross operating margin -€1.0m
down €1.0m (-84.6%), from €1.2m to €190,954
- Financial income +€648,404
up €648,404 (+1898.3%), from €34,157 to €682,561
- Taxes -€208,604
down €208,604 (-53.7%), from €388,662 to €180,058
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 | €3,801,477 | €4,461,976 | +€660,499 | +17.4% |
| Fixed assets | 21/28 | €38,921 | €16,000 | -€22,922 | -58.9% |
| Tangible fixed assets | 22/27 | €38,921 | €16,000 | -€22,922 | -58.9% |
| Furniture and vehicles | 24 | €35,921 | €13,000 | -€22,922 | -63.8% |
| Other tangible fixed assets | 26 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €3,762,556 | €4,445,977 | +€683,421 | +18.2% |
| Amounts receivable within one year | 40/41 | €121,006 | €78,909 | -€42,097 | -34.8% |
| Trade receivables | 40 | €121,000 | €30,250 | -€90,750 | -75.0% |
| Other amounts receivable | 41 | €6 | €48,659 | +€48,653 | +861121.9% |
| Current investments | 50/53 | €2,086,974 | €4,343,972 | +€2.3m | +108.1% |
| Cash at bank and in hand | 54/58 | €1,552,845 | €21,437 | -€1.5m | -98.6% |
| Deferred charges and accrued income | 490/1 | €1,731 | €1,658 | -€73 | -4.2% |
| Total equity and liabilities | 10/49 | €3,801,477 | €4,461,976 | +€660,499 | +17.4% |
| Equity | 10/15 | €3,587,969 | €3,531,569 | -€56,400 | -1.6% |
| Contributions | 10/11 | €205,000 | €205,000 | = | 0.0% |
| Reserves | 13 | €3,382,969 | €3,326,569 | -€56,400 | -1.7% |
| Distributable reserves | 133 | €3,382,969 | €3,326,569 | -€56,400 | -1.7% |
| Amounts payable | 17/49 | €213,508 | €930,407 | +€716,899 | +335.8% |
| Amounts payable after more than one year | 17 | €12,304 | - | -€12,304 | |
| Financial debts | 170/4 | €12,304 | - | -€12,304 | |
| Amounts payable within one year | 42/48 | €201,203 | €930,407 | +€729,203 | +362.4% |
| Current portion of amounts payable after more than one year | 42 | €20,967 | €87,304 | +€66,337 | +316.4% |
| Trade debts | 44 | €1,692 | €5,972 | +€4,281 | +253.0% |
| Suppliers | 440/4 | €1,692 | €5,972 | +€4,281 | +253.0% |
| Taxes, remuneration and social security | 45 | €176,965 | €162,649 | -€14,316 | -8.1% |
| Taxes | 450/3 | €176,965 | €162,649 | -€14,316 | -8.1% |
| Other amounts payable | 47/48 | €1,580 | €674,481 | +€672,901 | +42599.7% |
| Non-recurring operating income | 76A | €411,425 | - | -€411,425 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,736 | €22,922 | -€9,814 | -30.0% |
| Other operating charges | 640/8 | €21,782 | €21,472 | -€310 | -1.4% |
| Gross operating margin | 9900 | €1,237,685 | €190,954 | -€1.0m | -84.6% |
| Operating profit (loss) | 9901 | €1,183,168 | €146,560 | -€1.0m | -87.6% |
| Financial income | 75/76B | €34,157 | €682,561 | +€648,404 | +1898.3% |
| Recurring financial income | 75 | €34,157 | €682,561 | +€648,404 | +1898.3% |
| Financial charges | 65/66B | €769 | €6,364 | +€5,595 | +727.6% |
| Recurring financial charges | 65 | €769 | €6,364 | +€5,595 | +727.6% |
| Profit (loss) for the period before taxes | 9903 | €1,216,556 | €822,757 | -€393,799 | -32.4% |
| Income taxes | 67/77 | €388,662 | €180,058 | -€208,604 | -53.7% |
| Profit (loss) for the period | 9904 | €827,894 | €642,699 | -€185,195 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €827,894 | €642,699 | -€185,195 | -22.4% |
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 6 October 2026 via checked.be.