UPIA: 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.
UPIA
Largest movements
- Tangible fixed assets -€43,636
down €43,636 (-5.1%), from €848,528 to €804,892
of which Land and buildings: -€37,978
- Cash +€27,024
up €27,024 (+36.2%), from €74,711 to €101,734
mainly Depreciation (+€43,636) and Smaller working-capital items (+€96)
- Profit (loss) carried forward -€16,480
down €16,480 (-23.2%), from -€70,884 to -€87,365
- Gross operating margin +€14,950
up €14,950 (+35.7%), from €41,872 to €56,822
- Other operating charges -€1,279
down €1,279 (-18.6%), from €6,862 to €5,583
- Depreciation +€583
up €583 (+1.4%), from €43,052 to €43,636
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 | €923,238 | €906,626 | -€16,612 | -1.8% |
| Fixed assets | 21/28 | €848,528 | €804,892 | -€43,636 | -5.1% |
| Tangible fixed assets | 22/27 | €848,528 | €804,892 | -€43,636 | -5.1% |
| Land and buildings | 22 | €828,660 | €790,682 | -€37,978 | -4.6% |
| Plant, machinery and equipment | 23 | €2,006 | €933 | -€1,073 | -53.5% |
| Furniture and vehicles | 24 | €17,862 | €13,277 | -€4,585 | -25.7% |
| Current assets | 29/58 | €74,711 | €101,734 | +€27,024 | +36.2% |
| Cash at bank and in hand | 54/58 | €74,711 | €101,734 | +€27,024 | +36.2% |
| Total equity and liabilities | 10/49 | €923,238 | €906,626 | -€16,612 | -1.8% |
| Equity | 10/15 | -€60,884 | -€77,365 | -€16,480 | -27.1% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,884 | -€87,365 | -€16,480 | -23.2% |
| Amounts payable | 17/49 | €984,123 | €983,991 | -€132 | 0.0% |
| Amounts payable after more than one year | 17 | €950,000 | €950,000 | = | 0.0% |
| Financial debts | 170/4 | €950,000 | €950,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €22,150 | €22,018 | -€132 | -0.6% |
| Trade debts | 44 | - | €21 | +€21 | |
| Suppliers | 440/4 | - | €21 | +€21 | |
| Taxes, remuneration and social security | 45 | €7,187 | €7,262 | +€75 | +1.0% |
| Taxes | 450/3 | €7,187 | €7,262 | +€75 | +1.0% |
| Other amounts payable | 47/48 | €14,963 | €14,735 | -€228 | -1.5% |
| Accrued charges and deferred income | 492/3 | €11,973 | €11,973 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,052 | €43,636 | +€583 | +1.4% |
| Other operating charges | 640/8 | €6,862 | €5,583 | -€1,279 | -18.6% |
| Gross operating margin | 9900 | €41,872 | €56,822 | +€14,950 | +35.7% |
| Operating profit (loss) | 9901 | -€8,042 | €7,604 | +€15,646 | |
| Financial charges | 65/66B | €23,903 | €24,010 | +€106 | +0.4% |
| Recurring financial charges | 65 | €23,903 | €24,010 | +€106 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€31,945 | -€16,405 | +€15,540 | +48.6% |
| Income taxes | 67/77 | €62 | €75 | +€13 | +20.4% |
| Profit (loss) for the period | 9904 | -€32,007 | -€16,480 | +€15,527 | +48.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,007 | -€16,480 | +€15,527 | +48.5% |
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 3 October 2026 via checked.be.