UPSTATE: 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.
UPSTATE
Largest movements
- Tangible fixed assets +€13,199
up €13,199 (+306.4%), from €4,308 to €17,506
of which Furniture and vehicles: +€11,828
- Receivables within one year +€13,181
up €13,181 (+17.8%), from €73,975 to €87,157
of which Other amounts receivable: +€51,246
- Cash +€5,346
up €5,346 (+20.5%), from €26,088 to €31,434
mainly Other debts (+€63,238) and Net result for the year (+€11,209)
- Deferred charges and accrued income -€1,888
down €1,888 (-22.0%), from €8,582 to €6,694
- Other debts +€63,238
up €63,238 (+194.4%), from €32,527 to €95,766
- Trade debts -€47,357
down €47,357 (-50.5%), from €93,772 to €46,415
- Profit (loss) carried forward +€11,209
up €11,209 (+8.8%), from -€127,983 to -€116,773
- Debts after one year +€7,781
up €7,781 (+22.2%), from €35,000 to €42,781
of which Other amounts payable: +€7,781
- Accrued charges and deferred income -€5,142
down €5,142 (-92.0%), from €5,588 to €446
- Gross operating margin +€54,798
up €54,798 (+108.8%), from €50,345 to €105,143
- Staff costs +€3,914
up €3,914 (+5.5%), from €71,066 to €74,980
- Other operating charges +€2,222
up €2,222 (+71.7%), from €3,097 to €5,319
- Financial charges -€1,877
down €1,877 (-16.5%), from €11,386 to €9,509
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 | €115,289 | €142,791 | +€27,502 | +23.9% |
| Fixed assets | 21/28 | €6,644 | €17,506 | +€10,862 | +163.5% |
| Intangible fixed assets | 21 | €1,060 | €0 | -€1,060 | -100.0% |
| Tangible fixed assets | 22/27 | €4,308 | €17,506 | +€13,199 | +306.4% |
| Furniture and vehicles | 24 | €3,386 | €15,214 | +€11,828 | +349.3% |
| Other tangible fixed assets | 26 | €921 | €2,292 | +€1,371 | +148.8% |
| Financial fixed assets | 28 | €1,276 | €0 | -€1,276 | -100.0% |
| Current assets | 29/58 | €108,645 | €125,284 | +€16,639 | +15.3% |
| Amounts receivable within one year | 40/41 | €73,975 | €87,157 | +€13,181 | +17.8% |
| Trade receivables | 40 | €68,165 | €30,100 | -€38,065 | -55.8% |
| Other amounts receivable | 41 | €5,810 | €57,057 | +€51,246 | +882.0% |
| Cash at bank and in hand | 54/58 | €26,088 | €31,434 | +€5,346 | +20.5% |
| Deferred charges and accrued income | 490/1 | €8,582 | €6,694 | -€1,888 | -22.0% |
| Total equity and liabilities | 10/49 | €115,289 | €142,791 | +€27,502 | +23.9% |
| Equity | 10/15 | -€111,983 | -€100,773 | +€11,209 | +10.0% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,983 | -€116,773 | +€11,209 | +8.8% |
| Amounts payable | 17/49 | €227,272 | €243,564 | +€16,292 | +7.2% |
| Amounts payable after more than one year | 17 | €35,000 | €42,781 | +€7,781 | +22.2% |
| Financial debts | 170/4 | €0 | - | = | |
| Other amounts payable | 178/9 | €35,000 | €42,781 | +€7,781 | +22.2% |
| Amounts payable within one year | 42/48 | €186,684 | €200,338 | +€13,654 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €2,634 | €0 | -€2,634 | -100.0% |
| Financial debts | 43 | - | €4,873 | +€4,873 | |
| Other loans | 439 | - | €4,873 | +€4,873 | |
| Trade debts | 44 | €93,772 | €46,415 | -€47,357 | -50.5% |
| Suppliers | 440/4 | €93,772 | €46,415 | -€47,357 | -50.5% |
| Taxes, remuneration and social security | 45 | €57,751 | €53,285 | -€4,466 | -7.7% |
| Taxes | 450/3 | €40,570 | €28,742 | -€11,829 | -29.2% |
| Remuneration and social security | 454/9 | €17,180 | €24,543 | +€7,363 | +42.9% |
| Other amounts payable | 47/48 | €32,527 | €95,766 | +€63,238 | +194.4% |
| Accrued charges and deferred income | 492/3 | €5,588 | €446 | -€5,142 | -92.0% |
| Remuneration, social security and pensions | 62 | €71,066 | €74,980 | +€3,914 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,312 | €4,186 | -€126 | -2.9% |
| Other operating charges | 640/8 | €3,097 | €5,319 | +€2,222 | +71.7% |
| Gross operating margin | 9900 | €50,345 | €105,143 | +€54,798 | +108.8% |
| Operating profit (loss) | 9901 | -€28,130 | €20,657 | +€48,787 | |
| Financial income | 75/76B | €117 | €295 | +€177 | +151.3% |
| Recurring financial income | 75 | €117 | €295 | +€177 | +151.3% |
| Financial charges | 65/66B | €11,386 | €9,509 | -€1,877 | -16.5% |
| Recurring financial charges | 65 | €11,386 | €9,509 | -€1,877 | -16.5% |
| Profit (loss) for the period before taxes | 9903 | -€39,399 | €11,443 | +€50,842 | |
| Income taxes | 67/77 | €187 | €233 | +€47 | +24.9% |
| Profit (loss) for the period | 9904 | -€39,586 | €11,209 | +€50,795 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,586 | €11,209 | +€50,795 |
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.