upperkey: 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.
upperkey
Largest movements
- Cash +€28,925
up €28,925 (+54.7%), from €52,893 to €81,818
mainly Net result for the year (+€45,864) and Other debts (+€41,798)
- Receivables within one year +€14,829
up €14,829 (+99.3%), from €14,928 to €29,758
of which Trade receivables: +€14,859
- Tangible fixed assets -€2,006
down €2,006 (-34.5%), from €5,822 to €3,816
- Deferred charges and accrued income +€1,258
up €1,258 (+73.3%), from €1,717 to €2,975
- Other debts +€41,798
up €41,798 (+79.1%), from €52,810 to €94,608
- Trade debts +€1,511
up €1,511 (+149.6%), from €1,010 to €2,521
- Gross operating margin +€21,056
up €21,056 (+45.7%), from €46,054 to €67,110
- Taxes +€4,428
up €4,428 (+55.1%), from €8,031 to €12,459
- Depreciation -€1,222
down €1,222 (-37.9%), from €3,228 to €2,006
- Financial charges +€710
up €710 (+14.8%), from €4,801 to €5,512
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 | €75,360 | €118,367 | +€43,006 | +57.1% |
| Fixed assets | 21/28 | €5,822 | €3,816 | -€2,006 | -34.5% |
| Tangible fixed assets | 22/27 | €5,822 | €3,816 | -€2,006 | -34.5% |
| Land and buildings | 22 | €3,712 | €3,172 | -€540 | -14.5% |
| Plant, machinery and equipment | 23 | €1,247 | €559 | -€687 | -55.1% |
| Furniture and vehicles | 24 | €864 | €85 | -€779 | -90.1% |
| Current assets | 29/58 | €69,538 | €114,551 | +€45,013 | +64.7% |
| Amounts receivable within one year | 40/41 | €14,928 | €29,758 | +€14,829 | +99.3% |
| Trade receivables | 40 | €13,930 | €28,789 | +€14,859 | +106.7% |
| Other amounts receivable | 41 | €998 | €969 | -€29 | -3.0% |
| Cash at bank and in hand | 54/58 | €52,893 | €81,818 | +€28,925 | +54.7% |
| Deferred charges and accrued income | 490/1 | €1,717 | €2,975 | +€1,258 | +73.3% |
| Total equity and liabilities | 10/49 | €75,360 | €118,367 | +€43,006 | +57.1% |
| Equity | 10/15 | €18,717 | €18,550 | -€167 | -0.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €167 | €0 | -€167 | -100.0% |
| Distributable reserves | 133 | €167 | €0 | -€167 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,643 | €99,817 | +€43,173 | +76.2% |
| Amounts payable within one year | 42/48 | €56,643 | €99,817 | +€43,173 | +76.2% |
| Financial debts | 43 | €481 | €114 | -€367 | -76.3% |
| Credit institutions | 430/8 | €481 | €114 | -€367 | -76.3% |
| Trade debts | 44 | €1,010 | €2,521 | +€1,511 | +149.6% |
| Suppliers | 440/4 | €1,010 | €2,521 | +€1,511 | +149.6% |
| Taxes, remuneration and social security | 45 | €2,343 | €2,573 | +€231 | +9.9% |
| Taxes | 450/3 | €2,343 | €2,573 | +€231 | +9.9% |
| Other amounts payable | 47/48 | €52,810 | €94,608 | +€41,798 | +79.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,228 | €2,006 | -€1,222 | -37.9% |
| Other operating charges | 640/8 | €1,517 | €1,269 | -€249 | -16.4% |
| Gross operating margin | 9900 | €46,054 | €67,110 | +€21,056 | +45.7% |
| Operating profit (loss) | 9901 | €41,308 | €63,835 | +€22,527 | +54.5% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €4,801 | €5,512 | +€710 | +14.8% |
| Recurring financial charges | 65 | €4,801 | €5,512 | +€710 | +14.8% |
| Profit (loss) for the period before taxes | 9903 | €36,507 | €58,324 | +€21,817 | +59.8% |
| Income taxes | 67/77 | €8,031 | €12,459 | +€4,428 | +55.1% |
| Profit (loss) for the period | 9904 | €28,475 | €45,864 | +€17,389 | +61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €28,475 | €45,864 | +€17,389 | +61.1% |
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 29 September 2026 via checked.be.