UPIGNAC: 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.
What changed
UPIGNAC
NACE 46.392, Non-specialised wholesale
fiscal year 2024 against 2025not consecutivefiled annual accounts (NBB)
Net result for the year
-€5,796
2024 · €327,035-€332,831
Equity
€2.5m
2024 · €2.5m+€34,928
Cash
€142,957
2024 · €311,830-€168,873
Balance sheet total
€10.5m
2024 · €9.9m+€613,572
Largest movements
Assets
- Stocks and contracts +€1.0m
up €1.0m (+43.3%), from €2.4m to €3.5m
- Receivables within one year -€321,402
down €321,402 (-9.0%), from €3.6m to €3.2m
of which Other amounts receivable: -€596,915
- Cash -€168,873
down €168,873 (-54.2%), from €311,830 to €142,957
Equity and liabilities
- Trade debts +€836,931
up €836,931 (+62.4%), from €1.3m to €2.2m
- Debts after one year -€648,379
down €648,379 (-38.7%), from €1.7m to €1.0m
- Short-term financial debts +€455,064
up €455,064 (+12.6%), from €3.6m to €4.1m
Income statement
- Turnover +€1.4m
up €1.4m (+9.7%), from €14.7m to €16.1m
- Services and other goods +€1.2m
up €1.2m (+50.5%), from €2.4m to €3.6m
- Staff costs +€412,155
up €412,155 (+27.6%), from €1.5m to €1.9m
- Depreciation +€211,437
up €211,437 (+33.0%), from €640,479 to €851,916
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.
Result 2024
€327,035
Turnover
+€1.4m
Other operating income
+€5,501
Goods and materials
+€100,119
Services and other goods
-€1.2m
Staff costs
-€412,155
Depreciation
-€211,437
Write-downs
-€32,099
Other operating charges
-€22,691
Other operating items
+€74,379
Financial income
-€37,560
Financial charges
-€20,108
Taxes
+€3,498
Deferred taxes and other
+€1,938
Result 2025
-€5,796
Cash bridge derived
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,882,702 | €10,496,274 | +€613,572 | +6.2% |
| Fixed assets | 21/28 | €3,577,352 | €3,620,977 | +€43,625 | +1.2% |
| Intangible fixed assets | 21 | €19,940 | €104,285 | +€84,345 | +423.0% |
| Tangible fixed assets | 22/27 | €3,528,903 | €3,483,312 | -€45,591 | -1.3% |
| Land and buildings | 22 | €2,515,230 | €2,328,780 | -€186,450 | -7.4% |
| Plant, machinery and equipment | 23 | €789,207 | €948,302 | +€159,095 | +20.2% |
| Furniture and vehicles | 24 | €96,610 | €122,745 | +€26,134 | +27.1% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €127,855 | €83,485 | -€44,371 | -34.7% |
| Financial fixed assets | 28 | €28,509 | €33,381 | +€4,871 | +17.1% |
| Other financial fixed assets | 284/8 | €28,509 | €33,381 | +€4,871 | +17.1% |
| Amounts receivable and cash guarantees | 285/8 | €28,509 | €33,381 | +€4,871 | +17.1% |
| Current assets | 29/58 | €6,305,350 | €6,875,297 | +€569,947 | +9.0% |
| Stocks and contracts in progress | 3 | €2,419,542 | €3,468,071 | +€1.0m | +43.3% |
| Stocks | 30/36 | €2,419,542 | €3,468,071 | +€1.0m | +43.3% |
| Raw materials and consumables | 30/31 | €419,672 | €705,902 | +€286,230 | +68.2% |
| Finished goods | 33 | €1,995,555 | €2,753,320 | +€757,765 | +38.0% |
| Goods purchased for resale | 34 | €4,316 | €8,849 | +€4,534 | +105.0% |
| Amounts receivable within one year | 40/41 | €3,557,745 | €3,236,343 | -€321,402 | -9.0% |
| Trade receivables | 40 | €1,008,097 | €1,283,609 | +€275,512 | +27.3% |
| Other amounts receivable | 41 | €2,549,648 | €1,952,734 | -€596,915 | -23.4% |
| Cash at bank and in hand | 54/58 | €311,830 | €142,957 | -€168,873 | -54.2% |
| Deferred charges and accrued income | 490/1 | €16,232 | €27,926 | +€11,694 | +72.0% |
| Total equity and liabilities | 10/49 | €9,882,702 | €10,496,274 | +€613,572 | +6.2% |
| Equity | 10/15 | €2,486,014 | €2,520,942 | +€34,928 | +1.4% |
| Contributions | 10/11 | €2,195,000 | €2,195,000 | = | 0.0% |
| Capital | 10 | €2,195,000 | €2,195,000 | = | 0.0% |
| Issued capital | 100 | €2,195,000 | €2,195,000 | = | 0.0% |
| Reserves | 13 | €744,813 | €727,376 | -€17,438 | -2.3% |
| Non-distributable reserves | 130/1 | €158,749 | €158,749 | = | 0.0% |
| Legal reserve | 130 | €158,749 | €158,749 | = | 0.0% |
| Tax-exempt reserves | 132 | €136,588 | €119,151 | -€17,438 | -12.8% |
| Distributable reserves | 133 | €449,476 | €449,476 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€623,132 | -€611,491 | +€11,641 | +1.9% |
| Investment grants | 15 | €169,332 | €210,057 | +€40,724 | +24.0% |
| Provisions and deferred taxes | 16 | €43,498 | €37,686 | -€5,813 | -13.4% |
| Deferred taxes | 168 | €43,498 | €37,686 | -€5,813 | -13.4% |
| Amounts payable | 17/49 | €7,353,190 | €7,937,647 | +€584,457 | +7.9% |
| Amounts payable after more than one year | 17 | €1,673,287 | €1,024,908 | -€648,379 | -38.7% |
| Financial debts | 170/4 | €1,673,287 | €1,024,908 | -€648,379 | -38.7% |
| Leasing and similar obligations | 172 | €0 | - | = | |
| Credit institutions | 173 | €1,673,287 | €1,024,908 | -€648,379 | -38.7% |
| Amounts payable within one year | 42/48 | €5,679,764 | €6,911,094 | +€1.2m | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €479,912 | €430,736 | -€49,177 | -10.2% |
| Financial debts | 43 | €3,618,284 | €4,073,347 | +€455,064 | +12.6% |
| Credit institutions | 430/8 | €3,618,284 | €4,073,347 | +€455,064 | +12.6% |
| Trade debts | 44 | €1,340,802 | €2,177,733 | +€836,931 | +62.4% |
| Suppliers | 440/4 | €1,340,802 | €2,177,733 | +€836,931 | +62.4% |
| Taxes, remuneration and social security | 45 | €240,720 | €177,096 | -€63,624 | -26.4% |
| Taxes | 450/3 | €10,080 | €11,450 | +€1,369 | +13.6% |
| Remuneration and social security | 454/9 | €230,640 | €165,646 | -€64,994 | -28.2% |
| Other amounts payable | 47/48 | €46 | €52,182 | +€52,136 | +113561.9% |
| Accrued charges and deferred income | 492/3 | €139 | €1,645 | +€1,506 | +1083.5% |
| Operating income | 70/76A | €15,476,034 | €16,977,572 | +€1.5m | +9.7% |
| Turnover | 70 | €14,721,585 | €16,143,244 | +€1.4m | +9.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €624,393 | €590,583 | -€33,810 | -5.4% |
| Own construction capitalised | 72 | - | €108,189 | +€108,189 | |
| Other operating income | 74 | €130,055 | €135,556 | +€5,501 | +4.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Operating charges | 60/66A | €14,968,304 | €16,750,441 | +€1.8m | +11.9% |
| Goods for resale, raw materials and consumables | 60 | €10,451,212 | €10,351,093 | -€100,119 | -1.0% |
| Purchases | 600/8 | €10,230,885 | €10,809,039 | +€578,153 | +5.7% |
| Change in stocks: decrease (increase) | 609 | €220,327 | -€457,945 | -€678,272 | |
| Services and other goods | 61 | €2,382,070 | €3,585,943 | +€1.2m | +50.5% |
| Remuneration, social security and pensions | 62 | €1,491,986 | €1,904,141 | +€412,155 | +27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €640,479 | €851,916 | +€211,437 | +33.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€34,654 | -€2,555 | +€32,099 | +92.6% |
| Other operating charges | 640/8 | €37,211 | €59,903 | +€22,691 | +61.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €507,730 | €227,131 | -€280,599 | -55.3% |
| Financial income | 75/76B | €77,813 | €40,253 | -€37,560 | -48.3% |
| Recurring financial income | 75 | €77,813 | €39,224 | -€38,589 | -49.6% |
| Income from financial fixed assets | 750 | - | €128 | +€128 | |
| Income from current assets | 751 | €44,790 | €0 | -€44,790 | -100.0% |
| Other financial income | 752/9 | €33,023 | €39,096 | +€6,073 | +18.4% |
| Non-recurring financial income | 76B | - | €1,029 | +€1,029 | |
| Financial charges | 65/66B | €257,032 | €277,140 | +€20,108 | +7.8% |
| Recurring financial charges | 65 | €257,032 | €277,140 | +€20,108 | +7.8% |
| Debt charges | 650 | €256,426 | €254,405 | -€2,021 | -0.8% |
| Other financial charges | 652/9 | €606 | €22,735 | +€22,129 | +3652.6% |
| Profit (loss) for the period before taxes | 9903 | €328,511 | -€9,756 | -€338,267 | |
| Transfer from deferred taxes | 780 | €3,875 | €5,813 | +€1,938 | +50.0% |
| Income taxes | 67/77 | €5,351 | €1,853 | -€3,498 | -65.4% |
| Taxes | 670/3 | €5,351 | €1,853 | -€3,498 | -65.4% |
| Profit (loss) for the period | 9904 | €327,035 | -€5,796 | -€332,831 | |
| Transfer from tax-exempt reserves | 789 | €11,625 | €17,438 | +€5,813 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €338,660 | €11,641 | -€327,019 | -96.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.