Upsta: 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.
Upsta
Largest movements
- Financial fixed assets +€850,000
up €850,000 (+52.6%), from €1.6m to €2.5m
- Receivables within one year -€142,323
down €142,323 (-51.1%), from €278,285 to €135,962
of which Other amounts receivable: -€148,373
- Contributions +€850,000
up €850,000 (+109%), from €780,000 to €1.6m
- Debts after one year -€121,004
down €121,004 (-23.0%), from €525,750 to €404,746
- Profit (loss) carried forward +€32,754
up €32,754 (+24.9%), from €131,499 to €164,254
- Gross operating margin -€67,318
down €67,318 (-47.2%), from €142,725 to €75,407
- Taxes -€15,877
down €15,877 (-59.3%), from €26,795 to €10,918
- Financial charges -€5,277
down €5,277 (-15.2%), from €34,821 to €29,544
- Other operating charges +€1,469
up €1,469 (+204%), from €722 to €2,190
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.
Derived cash bridge
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 | €1,909,949 | €2,615,595 | +€705,645 | +36.9% |
| Fixed assets | 21/28 | €1,617,188 | €2,467,188 | +€850,000 | +52.6% |
| Financial fixed assets | 28 | €1,617,188 | €2,467,188 | +€850,000 | +52.6% |
| Current assets | 29/58 | €292,762 | €148,407 | -€144,355 | -49.3% |
| Amounts receivable within one year | 40/41 | €278,285 | €135,962 | -€142,323 | -51.1% |
| Trade receivables | 40 | €88,330 | €94,380 | +€6,050 | +6.8% |
| Other amounts receivable | 41 | €189,955 | €41,582 | -€148,373 | -78.1% |
| Cash at bank and in hand | 54/58 | €14,477 | €12,445 | -€2,032 | -14.0% |
| Total equity and liabilities | 10/49 | €1,909,949 | €2,615,595 | +€705,645 | +36.9% |
| Equity | 10/15 | €911,499 | €1,794,254 | +€882,754 | +96.8% |
| Contributions | 10/11 | €780,000 | €1,630,000 | +€850,000 | +109% |
| Profit (loss) carried forward | 14 | €131,499 | €164,254 | +€32,754 | +24.9% |
| Amounts payable | 17/49 | €998,450 | €821,341 | -€177,109 | -17.7% |
| Amounts payable after more than one year | 17 | €525,750 | €404,746 | -€121,004 | -23.0% |
| Financial debts | 170/4 | €525,750 | €404,746 | -€121,004 | -23.0% |
| Amounts payable within one year | 42/48 | €472,700 | €416,595 | -€56,105 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €144,228 | €121,004 | -€23,225 | -16.1% |
| Financial debts | 43 | €23,000 | €9,227 | -€13,773 | -59.9% |
| Credit institutions | 430/8 | €23,000 | €9,227 | -€13,773 | -59.9% |
| Trade debts | 44 | €121,000 | €125,363 | +€4,363 | +3.6% |
| Suppliers | 440/4 | €121,000 | €125,363 | +€4,363 | +3.6% |
| Taxes, remuneration and social security | 45 | €4,953 | €1,650 | -€3,302 | -66.7% |
| Taxes | 450/3 | €4,953 | €1,650 | -€3,302 | -66.7% |
| Other amounts payable | 47/48 | €179,519 | €159,351 | -€20,169 | -11.2% |
| Other operating charges | 640/8 | €722 | €2,190 | +€1,469 | +204% |
| Non-recurring operating charges | 66A | €1,500 | €0 | -€1,500 | -100% |
| Gross operating margin | 9900 | €142,725 | €75,407 | -€67,318 | -47.2% |
| Operating profit (loss) | 9901 | €140,503 | €73,217 | -€67,287 | -47.9% |
| Financial charges | 65/66B | €34,821 | €29,544 | -€5,277 | -15.2% |
| Recurring financial charges | 65 | €34,821 | €29,544 | -€5,277 | -15.2% |
| Profit (loss) for the period before taxes | 9903 | €105,682 | €43,672 | -€62,010 | -58.7% |
| Income taxes | 67/77 | €26,795 | €10,918 | -€15,877 | -59.3% |
| Profit (loss) for the period | 9904 | €78,886 | €32,754 | -€46,132 | -58.5% |
| Profit (loss) for the period to be appropriated | 9905 | €78,886 | €32,754 | -€46,132 | -58.5% |
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 26 October 2026 via checked.be.