UPSTONE: 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.
UPSTONE
Largest movements
- Receivables after one year +€18,546
up €18,546 (+20.8%), from €89,080 to €107,626
- Tangible fixed assets -€5,574
down €5,574 (-48.3%), from €11,550 to €5,976
of which Furniture and vehicles: -€4,895
- Receivables within one year -€3,986
down €3,986 (-27.4%), from €14,540 to €10,554
of which Trade receivables: -€4,840
- Trade debts +€15,549
up €15,549 (+726.4%), from €2,141 to €17,690
- Tax, wage and social debts -€6,650
down €6,650 (-29.6%), from €22,492 to €15,842
- Short-term financial debts -€1,451
down €1,451 (-54.4%), from €2,664 to €1,214
- Financial charges +€17,679
up €17,679 (+49.2%), from €35,909 to €53,588
- Gross operating margin -€16,622
down €16,622 (-20.5%), from €81,052 to €64,430
- Taxes -€11,620
down €11,620 (-80.3%), from €14,474 to €2,854
- Depreciation -€1,478
down €1,478 (-21.0%), from €7,052 to €5,574
- Other operating charges +€1,038
up €1,038 (+194.7%), from €533 to €1,571
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €115,990 | €124,313 | +€8,323 | +7.2% |
| Fixed assets | 21/28 | €11,550 | €5,976 | -€5,574 | -48.3% |
| Tangible fixed assets | 22/27 | €11,550 | €5,976 | -€5,574 | -48.3% |
| Furniture and vehicles | 24 | €6,606 | €1,711 | -€4,895 | -74.1% |
| Other tangible fixed assets | 26 | €4,945 | €4,265 | -€680 | -13.7% |
| Current assets | 29/58 | €104,440 | €118,337 | +€13,898 | +13.3% |
| Amounts receivable after more than one year | 29 | €89,080 | €107,626 | +€18,546 | +20.8% |
| Other amounts receivable | 291 | €89,080 | €107,626 | +€18,546 | +20.8% |
| Amounts receivable within one year | 40/41 | €14,540 | €10,554 | -€3,986 | -27.4% |
| Trade receivables | 40 | €14,520 | €9,680 | -€4,840 | -33.3% |
| Other amounts receivable | 41 | €20 | €874 | +€854 | +4234.7% |
| Deferred charges and accrued income | 490/1 | €820 | €157 | -€662 | -80.8% |
| Total equity and liabilities | 10/49 | €115,990 | €124,313 | +€8,323 | +7.2% |
| Equity | 10/15 | €88,693 | €89,568 | +€875 | +1.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €27,668 | €28,543 | +€875 | +3.2% |
| Distributable reserves | 133 | €27,668 | €28,543 | +€875 | +3.2% |
| Profit (loss) carried forward | 14 | €58,025 | €58,025 | = | 0.0% |
| Amounts payable | 17/49 | €27,297 | €34,745 | +€7,448 | +27.3% |
| Amounts payable within one year | 42/48 | €27,297 | €34,745 | +€7,448 | +27.3% |
| Financial debts | 43 | €2,664 | €1,214 | -€1,451 | -54.4% |
| Credit institutions | 430/8 | €2,664 | €1,214 | -€1,451 | -54.4% |
| Trade debts | 44 | €2,141 | €17,690 | +€15,549 | +726.4% |
| Suppliers | 440/4 | €2,141 | €17,690 | +€15,549 | +726.4% |
| Taxes, remuneration and social security | 45 | €22,492 | €15,842 | -€6,650 | -29.6% |
| Taxes | 450/3 | €22,492 | €15,842 | -€6,650 | -29.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,052 | €5,574 | -€1,478 | -21.0% |
| Other operating charges | 640/8 | €533 | €1,571 | +€1,038 | +194.7% |
| Gross operating margin | 9900 | €81,052 | €64,430 | -€16,622 | -20.5% |
| Operating profit (loss) | 9901 | €73,467 | €57,285 | -€16,182 | -22.0% |
| Financial income | 75/76B | - | €33 | +€33 | |
| Recurring financial income | 75 | - | €33 | +€33 | |
| Financial charges | 65/66B | €35,909 | €53,588 | +€17,679 | +49.2% |
| Recurring financial charges | 65 | €35,909 | €53,588 | +€17,679 | +49.2% |
| Profit (loss) for the period before taxes | 9903 | €37,558 | €3,729 | -€33,829 | -90.1% |
| Income taxes | 67/77 | €14,474 | €2,854 | -€11,620 | -80.3% |
| Profit (loss) for the period | 9904 | €23,084 | €875 | -€22,209 | -96.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,084 | €875 | -€22,209 | -96.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.