UPM: what changed
Two financial 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.
UPM
Largest movements
- Receivables within one year -€312,361
down €312,361 (-29.1%), from €1.1m to €762,428
of which Trade receivables: -€286,284
- Cash -€160,180
down €160,180 (-7.0%), from €2.3m to €2.1m
mainly Trade debts (-€815,673) and Provisions (-€232,782)
- Trade debts -€815,673
down €815,673 (-85.0%), from €959,575 to €143,902
- Tax, wage and social debts +€464,674
up €464,674 (+72.7%), from €639,153 to €1.1m
of which Remuneration and social security: +€261,777
- Provisions -€232,782
down €232,782 (-95.9%), from €242,782 to €10,000
- Profit (loss) carried forward +€111,240
up €111,240 (+7.7%), from €1.5m to €1.6m
- Provisions -€475,564
down €475,564, from €242,782 to -€232,782
- Other operating income -€448,820
down €448,820 (-17.8%), from €2.5m to €2.1m
- Services and other goods -€366,459
down €366,459 (-40.0%), from €916,741 to €550,281
- Turnover -€299,565
down €299,565 (-12.1%), from €2.5m to €2.2m
- Staff costs +€184,868
up €184,868 (+5.1%), from €3.6m to €3.8m
From the 2023 result to the 2024 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.
Derived cash bridge
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,372,491 | €2,899,950 | -€472,541 | -14.0% |
| Fixed assets | 21/28 | €3,747 | €3,747 | = | 0.0% |
| Financial fixed assets | 28 | €3,747 | €3,747 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,747 | €3,747 | = | 0.0% |
| Shares | 284 | €3,747 | €3,747 | = | 0.0% |
| Current assets | 29/58 | €3,368,745 | €2,896,203 | -€472,541 | -14.0% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €1,074,789 | €762,428 | -€312,361 | -29.1% |
| Trade receivables | 40 | €998,805 | €712,521 | -€286,284 | -28.7% |
| Other amounts receivable | 41 | €75,984 | €49,908 | -€26,076 | -34.3% |
| Cash at bank and in hand | 54/58 | €2,293,955 | €2,133,775 | -€160,180 | -7.0% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €3,372,491 | €2,899,950 | -€472,541 | -14.0% |
| Equity | 10/15 | €1,530,981 | €1,642,221 | +€111,240 | +7.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €18,379 | €18,379 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,719 | €7,719 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,519 | €1,519 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,522 | €3,522 | = | 0.0% |
| Distributable reserves | 133 | €7,138 | €7,138 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,450,602 | €1,561,842 | +€111,240 | +7.7% |
| Provisions and deferred taxes | 16 | €242,782 | €10,000 | -€232,782 | -95.9% |
| Provisions for liabilities and charges | 160/5 | €242,782 | €10,000 | -€232,782 | -95.9% |
| Other liabilities and charges | 164/5 | €242,782 | €10,000 | -€232,782 | -95.9% |
| Amounts payable | 17/49 | €1,598,728 | €1,247,729 | -€350,999 | -22.0% |
| Amounts payable within one year | 42/48 | €1,598,728 | €1,247,729 | -€350,999 | -22.0% |
| Trade debts | 44 | €959,575 | €143,902 | -€815,673 | -85.0% |
| Suppliers | 440/4 | €959,575 | €143,902 | -€815,673 | -85.0% |
| Taxes, remuneration and social security | 45 | €639,153 | €1,103,827 | +€464,674 | +72.7% |
| Taxes | 450/3 | €108 | €203,004 | +€202,897 | +188,583% |
| Remuneration and social security | 454/9 | €639,046 | €900,823 | +€261,777 | +41.0% |
| Operating income | 70/76A | €4,987,749 | €4,239,364 | -€748,386 | -15.0% |
| Turnover | 70 | €2,469,737 | €2,170,171 | -€299,565 | -12.1% |
| Other operating income | 74 | €2,518,013 | €2,069,193 | -€448,820 | -17.8% |
| Operating charges | 60/66A | €4,797,430 | €4,140,054 | -€657,375 | -13.7% |
| Services and other goods | 61 | €916,741 | €550,281 | -€366,459 | -40.0% |
| Remuneration, social security and pensions | 62 | €3,624,737 | €3,809,606 | +€184,868 | +5.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €242,782 | -€232,782 | -€475,564 | |
| Other operating charges | 640/8 | €13,170 | €12,949 | -€220 | -1.7% |
| Operating profit (loss) | 9901 | €190,320 | €99,310 | -€91,010 | -47.8% |
| Financial income | 75/76B | €66,931 | €76,168 | +€9,237 | +13.8% |
| Recurring financial income | 75 | €66,931 | €76,168 | +€9,237 | +13.8% |
| Income from current assets | 751 | €66,931 | €76,128 | +€9,197 | +13.7% |
| Other financial income | 752/9 | - | €40 | +€40 | |
| Financial charges | 65/66B | €3,776 | €2,267 | -€1,510 | -40.0% |
| Recurring financial charges | 65 | €3,776 | €2,267 | -€1,510 | -40.0% |
| Debt charges | 650 | €46 | €0 | -€46 | -100% |
| Other financial charges | 652/9 | €3,731 | €2,267 | -€1,464 | -39.2% |
| Profit (loss) for the period before taxes | 9903 | €253,474 | €173,211 | -€80,264 | -31.7% |
| Income taxes | 67/77 | €84,909 | €61,970 | -€22,938 | -27.0% |
| Taxes | 670/3 | €89,033 | €69,773 | -€19,260 | -21.6% |
| Tax adjustments and reversals of tax provisions | 77 | €4,124 | €7,802 | +€3,679 | +89.2% |
| Profit (loss) for the period | 9904 | €168,565 | €111,240 | -€57,325 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €168,565 | €111,240 | -€57,325 | -34.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.