UPSILON CONSULT: 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.
UPSILON CONSULT
Largest movements
- Current investments -€1.6m
down €1.6m (-11.7%), from €14.0m to €12.3m
- Other debts -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
- Tax, wage and social debts -€529,380
down €529,380 (-100.0%), from €529,380 to €0
- Financial income -€742,320
down €742,320 (-71.2%), from €1.0m to €300,390
- Financial charges +€308,665
up €308,665 (+204400.6%), from €151 to €308,816
- Taxes -€10,898
down €10,898 (-15.9%), from €68,679 to €57,781
- Gross operating margin -€2,068
down €2,068 (-25.0%), from -€8,274 to -€10,342
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 | €30,680,053 | €28,798,125 | -€1.9m | -6.1% |
| Fixed assets | 21/28 | €16,612,871 | €16,309,480 | -€303,392 | -1.8% |
| Financial fixed assets | 28 | €16,612,871 | €16,309,480 | -€303,392 | -1.8% |
| Current assets | 29/58 | €14,067,182 | €12,488,646 | -€1.6m | -11.2% |
| Amounts receivable within one year | 40/41 | €27,399 | €62,540 | +€35,142 | +128.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €27,399 | €62,540 | +€35,142 | +128.3% |
| Current investments | 50/53 | €13,983,528 | €12,347,504 | -€1.6m | -11.7% |
| Cash at bank and in hand | 54/58 | €8,148 | €59,938 | +€51,790 | +635.6% |
| Deferred charges and accrued income | 490/1 | €48,107 | €18,663 | -€29,444 | -61.2% |
| Total equity and liabilities | 10/49 | €30,680,053 | €28,798,125 | -€1.9m | -6.1% |
| Equity | 10/15 | €28,870,994 | €28,793,446 | -€77,548 | -0.3% |
| Contributions | 10/11 | €1,750,000 | €1,750,000 | = | 0.0% |
| Capital | 10 | €1,750,000 | €1,750,000 | = | 0.0% |
| Issued capital | 100 | €1,750,000 | €1,750,000 | = | 0.0% |
| Revaluation surpluses | 12 | €13,860,239 | €13,860,239 | = | 0.0% |
| Reserves | 13 | €5,747,000 | €5,747,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,747,000 | €5,747,000 | = | 0.0% |
| Legal reserve | 130 | €175,000 | €175,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,572,000 | €5,572,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,513,754 | €7,436,206 | -€77,548 | -1.0% |
| Amounts payable | 17/49 | €1,809,060 | €4,679 | -€1.8m | -99.7% |
| Amounts payable within one year | 42/48 | €1,809,060 | €4,679 | -€1.8m | -99.7% |
| Trade debts | 44 | €4,679 | €4,679 | = | 0.0% |
| Suppliers | 440/4 | €4,679 | €4,679 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €529,380 | €0 | -€529,380 | -100.0% |
| Taxes | 450/3 | €529,380 | €0 | -€529,380 | -100.0% |
| Other amounts payable | 47/48 | €1,275,000 | €0 | -€1.3m | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | -€8,274 | -€10,342 | -€2,068 | -25.0% |
| Operating profit (loss) | 9901 | -€9,241 | -€11,341 | -€2,099 | -22.7% |
| Financial income | 75/76B | €1,042,710 | €300,390 | -€742,320 | -71.2% |
| Recurring financial income | 75 | €1,042,710 | €300,390 | -€742,320 | -71.2% |
| Financial charges | 65/66B | €151 | €308,816 | +€308,665 | +204400.6% |
| Recurring financial charges | 65 | €151 | €308,816 | +€308,665 | +204400.6% |
| Profit (loss) for the period before taxes | 9903 | €1,033,318 | -€19,766 | -€1.1m | |
| Income taxes | 67/77 | €68,679 | €57,781 | -€10,898 | -15.9% |
| Profit (loss) for the period | 9904 | €964,638 | -€77,548 | -€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €964,638 | -€77,548 | -€1.0m |
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 4 October 2026 via checked.be.