Upignac Group: what changed
What changed
Upignac Group
NACE 70.200, Business and other management consultancy
not consecutivefiled annual accounts (NBB)
Net result for the year
-€7.0m
2024 · €122,616-€7.1m
Equity
€24.4m
2024 · €14.4m+€10.0m
Cash
€346,688
2024 · €47,284+€299,404
Balance sheet total
€34.8m
2024 · €29.3m+€5.5m
Largest movements
Assets
- Receivables within one year +€7.2m
up €7.2m (+244%), from €3.0m to €10.2m
of which Other amounts receivable: +€7.3m
- Financial fixed assets -€2.0m
down €2.0m (-7.6%), from €26.3m to €24.3m
of which Affiliated companies: -€2.0m
Equity and liabilities
- Contributions +€12.0m
up €12.0m (+89.6%), from €13.4m to €25.4m
- Profit (loss) carried forward -€7.0m
down €7.0m (-4,038%), from -€173,111 to -€7.2m
- Revaluation surpluses +€5.0m
up €5.0m (+428%), from €1.2m to €6.2m
- Debts after one year -€4.3m
down €4.3m (-49.4%), from €8.8m to €4.4m
- Other debts -€978,088
down €978,088 (-19.8%), from €4.9m to €4.0m
Income statement
- Financial charges +€7.0m
up €7.0m (+2,019%), from €347,043 to €7.4m
of which Non-recurring financial charges: +€7.0m
- Turnover +€858,088
up €858,088 (+63.0%), from €1.4m to €2.2m
- Services and other goods +€675,247
up €675,247 (+91.2%), from €740,452 to €1.4m
- Staff costs +€177,923
up €177,923 (+56.4%), from €315,496 to €493,419
- Other operating income -€99,756
down €99,756 (-64.3%), from €155,181 to €55,425
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€122,616
Turnover
+€858,088
Other operating income
-€99,756
Goods and materials
+€289
Services and other goods
-€675,247
Staff costs
-€177,923
Depreciation
-€5,133
Other operating charges
-€1,553
Other operating items
+€30,304
Financial income
-€35,274
Financial charges
-€7.0m
Taxes
-€361
Result 2025
-€7.0m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
A cash bridge needs two consecutive financial 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 | €29,348,563 | €34,842,672 | +€5.5m | +18.7% |
| Fixed assets | 21/28 | €26,343,608 | €24,329,162 | -€2.0m | -7.6% |
| Intangible fixed assets | 21 | €2,143 | €1,268 | -€876 | -40.9% |
| Tangible fixed assets | 22/27 | €69,095 | €55,524 | -€13,570 | -19.6% |
| Furniture and vehicles | 24 | €69,095 | €22,332 | -€46,763 | -67.7% |
| Leasing and similar rights | 25 | - | €33,193 | +€33,193 | |
| Financial fixed assets | 28 | €26,272,370 | €24,272,370 | -€2.0m | -7.6% |
| Affiliated companies | 280/1 | €26,272,190 | €24,272,190 | -€2.0m | -7.6% |
| Participating interests | 280 | €26,272,190 | €24,272,190 | -€2.0m | -7.6% |
| Other financial fixed assets | 284/8 | €180 | €180 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €3,004,955 | €10,513,510 | +€7.5m | +250% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €2,954,630 | €10,163,836 | +€7.2m | +244% |
| Trade receivables | 40 | €969,966 | €899,134 | -€70,832 | -7.3% |
| Other amounts receivable | 41 | €1,984,664 | €9,264,702 | +€7.3m | +367% |
| Cash at bank and in hand | 54/58 | €47,284 | €346,688 | +€299,404 | +633% |
| Deferred charges and accrued income | 490/1 | €3,041 | €2,986 | -€56 | -1.8% |
| Total equity and liabilities | 10/49 | €29,348,563 | €34,842,672 | +€5.5m | +18.7% |
| Equity | 10/15 | €14,409,506 | €24,419,769 | +€10.0m | +69.5% |
| Contributions | 10/11 | €13,395,040 | €25,395,040 | +€12.0m | +89.6% |
| Capital | 10 | €13,395,040 | €25,395,040 | +€12.0m | +89.6% |
| Issued capital | 100 | €13,395,040 | €25,395,040 | +€12.0m | +89.6% |
| Revaluation surpluses | 12 | €1,167,577 | €6,167,577 | +€5.0m | +428% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€173,111 | -€7,162,848 | -€7.0m | -4,038% |
| Amounts payable | 17/49 | €14,939,057 | €10,422,903 | -€4.5m | -30.2% |
| Amounts payable after more than one year | 17 | €8,761,722 | €4,430,862 | -€4.3m | -49.4% |
| Financial debts | 170/4 | €8,761,722 | €4,430,862 | -€4.3m | -49.4% |
| Subordinated loans | 170 | €6,200,000 | €2,480,000 | -€3.7m | -60.0% |
| Leasing and similar obligations | 172 | - | €18,219 | +€18,219 | |
| Credit institutions | 173 | €2,561,722 | €1,932,643 | -€629,079 | -24.6% |
| Amounts payable within one year | 42/48 | €6,153,321 | €5,988,396 | -€164,925 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €939,744 | €1,668,869 | +€729,125 | +77.6% |
| Trade debts | 44 | €173,074 | €286,434 | +€113,359 | +65.5% |
| Suppliers | 440/4 | €173,074 | €286,434 | +€113,359 | +65.5% |
| Taxes, remuneration and social security | 45 | €109,487 | €80,166 | -€29,322 | -26.8% |
| Taxes | 450/3 | €47,192 | €5,063 | -€42,129 | -89.3% |
| Remuneration and social security | 454/9 | €62,296 | €75,103 | +€12,807 | +20.6% |
| Other amounts payable | 47/48 | €4,931,015 | €3,952,927 | -€978,088 | -19.8% |
| Accrued charges and deferred income | 492/3 | €24,014 | €3,645 | -€20,370 | -84.8% |
| Operating income | 70/76A | €1,518,100 | €2,318,431 | +€800,331 | +52.7% |
| Turnover | 70 | €1,362,919 | €2,221,006 | +€858,088 | +63.0% |
| Other operating income | 74 | €155,181 | €55,425 | -€99,756 | -64.3% |
| Non-recurring operating income | 76A | - | €42,000 | +€42,000 | |
| Operating charges | 60/66A | €1,082,615 | €1,953,877 | +€871,263 | +80.5% |
| Goods for resale, raw materials and consumables | 60 | €716 | €427 | -€289 | -40.4% |
| Purchases | 600/8 | €716 | €427 | -€289 | -40.4% |
| Services and other goods | 61 | €740,452 | €1,415,699 | +€675,247 | +91.2% |
| Remuneration, social security and pensions | 62 | €315,496 | €493,419 | +€177,923 | +56.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,182 | €29,315 | +€5,133 | +21.2% |
| Other operating charges | 640/8 | €1,769 | €3,322 | +€1,553 | +87.8% |
| Non-recurring operating charges | 66A | - | €11,696 | +€11,696 | |
| Operating profit (loss) | 9901 | €435,485 | €364,554 | -€70,932 | -16.3% |
| Financial income | 75/76B | €35,274 | €0 | -€35,274 | -100% |
| Recurring financial income | 75 | €35,274 | €0 | -€35,274 | -100% |
| Income from current assets | 751 | €35,274 | €0 | -€35,274 | -100% |
| Financial charges | 65/66B | €347,043 | €7,352,830 | +€7.0m | +2,019% |
| Recurring financial charges | 65 | €347,043 | €352,830 | +€5,787 | +1.7% |
| Debt charges | 650 | €344,031 | €347,201 | +€3,170 | +0.9% |
| Other financial charges | 652/9 | €3,011 | €5,629 | +€2,617 | +86.9% |
| Non-recurring financial charges | 66B | - | €7,000,000 | +€7.0m | |
| Profit (loss) for the period before taxes | 9903 | €123,717 | -€6,988,276 | -€7.1m | |
| Income taxes | 67/77 | €1,100 | €1,461 | +€361 | +32.8% |
| Taxes | 670/3 | €1,100 | €1,461 | +€361 | +32.8% |
| Profit (loss) for the period | 9904 | €122,616 | -€6,989,737 | -€7.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €122,616 | -€6,989,737 | -€7.1m |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.