UPNEXT: 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.
UPNEXT
Largest movements
- Cash +€96,821
up €96,821 (+131.4%), from €73,708 to €170,529
mainly Net result for the year (+€88,251) and Depreciation (+€20,122)
- Receivables within one year +€24,026
up €24,026 (+2308.4%), from €1,041 to €25,066
of which Trade receivables: +€24,766
- Tangible fixed assets -€17,835
down €17,835 (-35.9%), from €49,677 to €31,842
of which Furniture and vehicles: -€19,958
- Reserves +€87,418
up €87,418 (+96.3%), from €90,743 to €178,161
- Tax, wage and social debts +€11,752
up €11,752 (+44.6%), from €26,351 to €38,103
- Trade debts +€2,834
up €2,834 (+163.7%), from €1,731 to €4,565
- Depreciation +€9,925
up €9,925 (+97.3%), from €10,197 to €20,122
- Taxes +€2,687
up €2,687 (+10.9%), from €24,759 to €27,445
- Gross operating margin +€2,578
up €2,578 (+1.9%), from €133,703 to €136,281
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 | €124,426 | €227,437 | +€103,011 | +82.8% |
| Fixed assets | 21/28 | €49,677 | €31,842 | -€17,835 | -35.9% |
| Tangible fixed assets | 22/27 | €49,677 | €31,842 | -€17,835 | -35.9% |
| Plant, machinery and equipment | 23 | - | €2,123 | +€2,123 | |
| Furniture and vehicles | 24 | €49,677 | €29,719 | -€19,958 | -40.2% |
| Current assets | 29/58 | €74,749 | €195,595 | +€120,846 | +161.7% |
| Amounts receivable within one year | 40/41 | €1,041 | €25,066 | +€24,026 | +2308.4% |
| Trade receivables | 40 | €300 | €25,066 | +€24,766 | +8255.5% |
| Other amounts receivable | 41 | €741 | - | -€741 | |
| Cash at bank and in hand | 54/58 | €73,708 | €170,529 | +€96,821 | +131.4% |
| Total equity and liabilities | 10/49 | €124,426 | €227,437 | +€103,011 | +82.8% |
| Equity | 10/15 | €95,743 | €183,161 | +€87,418 | +91.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €90,743 | €178,161 | +€87,418 | +96.3% |
| Distributable reserves | 133 | €90,743 | €178,161 | +€87,418 | +96.3% |
| Amounts payable | 17/49 | €28,683 | €44,276 | +€15,593 | +54.4% |
| Amounts payable within one year | 42/48 | €28,683 | €44,276 | +€15,593 | +54.4% |
| Trade debts | 44 | €1,731 | €4,565 | +€2,834 | +163.7% |
| Suppliers | 440/4 | €1,731 | €4,565 | +€2,834 | +163.7% |
| Taxes, remuneration and social security | 45 | €26,351 | €38,103 | +€11,752 | +44.6% |
| Taxes | 450/3 | €26,351 | €38,103 | +€11,752 | +44.6% |
| Other amounts payable | 47/48 | €601 | €1,608 | +€1,006 | +167.4% |
| Non-recurring operating income | 76A | - | €0 | +€0 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,197 | €20,122 | +€9,925 | +97.3% |
| Other operating charges | 640/8 | - | €369 | +€369 | |
| Gross operating margin | 9900 | €133,703 | €136,281 | +€2,578 | +1.9% |
| Operating profit (loss) | 9901 | €123,506 | €115,789 | -€7,716 | -6.2% |
| Financial charges | 65/66B | €102 | €93 | -€8 | -8.3% |
| Recurring financial charges | 65 | €101 | €90 | -€11 | -11.2% |
| Non-recurring financial charges | 66B | €0 | €3 | +€3 | +966.7% |
| Profit (loss) for the period before taxes | 9903 | €123,404 | €115,696 | -€7,708 | -6.2% |
| Income taxes | 67/77 | €24,759 | €27,445 | +€2,687 | +10.9% |
| Profit (loss) for the period | 9904 | €98,645 | €88,251 | -€10,395 | -10.5% |
| Profit (loss) for the period to be appropriated | 9905 | €98,645 | €88,251 | -€10,395 | -10.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.