UPIMMO: 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.
UPIMMO
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+23.8%), from €7.5m to €9.3m
of which Land and buildings: +€1.8m
- Revaluation surpluses +€1.4m
up €1.4m (+24.6%), from €5.8m to €7.2m
- Debts after one year +€324,082
up €324,082 (+21.0%), from €1.5m to €1.9m
- Gross operating margin +€52,022
up €52,022 (+19.7%), from €264,294 to €316,315
- Depreciation +€23,102
up €23,102 (+17.3%), from €133,877 to €156,979
- Other operating charges +€12,787
up €12,787 (+15.6%), from €82,222 to €95,009
- Financial charges +€12,750
up €12,750 (+35.4%), from €36,024 to €48,774
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 | €7,652,084 | €9,438,906 | +€1.8m | +23.4% |
| Fixed assets | 21/28 | €7,547,209 | €9,344,940 | +€1.8m | +23.8% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €7,547,159 | €9,344,890 | +€1.8m | +23.8% |
| Land and buildings | 22 | €7,122,190 | €8,917,318 | +€1.8m | +25.2% |
| Plant, machinery and equipment | 23 | €363,351 | €383,829 | +€20,478 | +5.6% |
| Furniture and vehicles | 24 | €61,619 | €43,743 | -€17,876 | -29.0% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €104,875 | €93,966 | -€10,909 | -10.4% |
| Cash at bank and in hand | 54/58 | €97,323 | €76,021 | -€21,302 | -21.9% |
| Deferred charges and accrued income | 490/1 | €7,552 | €17,945 | +€10,393 | +137.6% |
| Total equity and liabilities | 10/49 | €7,652,084 | €9,438,906 | +€1.8m | +23.4% |
| Equity | 10/15 | €5,862,621 | €7,301,083 | +€1.4m | +24.5% |
| Contributions | 10/11 | €236,500 | €236,500 | = | 0.0% |
| Capital | 10 | €236,500 | €236,500 | = | 0.0% |
| Issued capital | 100 | €236,500 | €236,500 | = | 0.0% |
| Revaluation surpluses | 12 | €5,802,073 | €7,229,461 | +€1.4m | +24.6% |
| Profit (loss) carried forward | 14 | -€175,952 | -€164,878 | +€11,074 | +6.3% |
| Amounts payable | 17/49 | €1,789,463 | €2,137,823 | +€348,360 | +19.5% |
| Amounts payable after more than one year | 17 | €1,541,713 | €1,865,795 | +€324,082 | +21.0% |
| Financial debts | 170/4 | €1,541,713 | €1,865,795 | +€324,082 | +21.0% |
| Amounts payable within one year | 42/48 | €242,930 | €265,955 | +€23,025 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | €171,895 | €195,050 | +€23,156 | +13.5% |
| Trade debts | 44 | €5,721 | €6,732 | +€1,011 | +17.7% |
| Suppliers | 440/4 | €5,721 | €6,732 | +€1,011 | +17.7% |
| Taxes, remuneration and social security | 45 | €3,387 | €4,409 | +€1,022 | +30.2% |
| Taxes | 450/3 | €3,387 | €4,409 | +€1,022 | +30.2% |
| Other amounts payable | 47/48 | €61,928 | €59,765 | -€2,164 | -3.5% |
| Accrued charges and deferred income | 492/3 | €4,820 | €6,073 | +€1,253 | +26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €133,877 | €156,979 | +€23,102 | +17.3% |
| Other operating charges | 640/8 | €82,222 | €95,009 | +€12,787 | +15.6% |
| Gross operating margin | 9900 | €264,294 | €316,315 | +€52,022 | +19.7% |
| Operating profit (loss) | 9901 | €48,195 | €64,327 | +€16,132 | +33.5% |
| Financial income | 75/76B | €327 | €829 | +€502 | +153.6% |
| Recurring financial income | 75 | €327 | €829 | +€502 | +153.6% |
| Financial charges | 65/66B | €36,024 | €48,774 | +€12,750 | +35.4% |
| Recurring financial charges | 65 | €36,024 | €48,774 | +€12,750 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €12,498 | €16,383 | +€3,884 | +31.1% |
| Income taxes | 67/77 | €4,179 | €5,308 | +€1,129 | +27.0% |
| Profit (loss) for the period | 9904 | €8,319 | €11,074 | +€2,755 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,319 | €11,074 | +€2,755 | +33.1% |
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 1 October 2026 via checked.be.