Upthrust: 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.
What changed
Upthrust
NACE 73.300, Public relations and communication consultancy
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€6.3m
2023 · -€3.2m+€9.5m
Equity
€7.9m
2023 · €7.1m+€839,944
Cash
€6.3m
2023 · €846,136+€5.5m
Balance sheet total
€57.8m
2023 · €54.0m+€3.8m
Largest movements
Assets
- Cash +€5.5m
up €5.5m (+645.7%), from €846,136 to €6.3m
mainly Other debts (+€10.5m) and Net result for the year (+€6.3m)
- Receivables within one year -€1.1m
down €1.1m (-27.1%), from €4.2m to €3.0m
of which Other amounts receivable: -€760,677
- Receivables after one year +€1.0m
up €1.0m (+52.4%), from €1.9m to €2.9m
- Financial fixed assets -€803,298
down €803,298 (-1.8%), from €44.9m to €44.1m
of which Affiliated companies: -€801,538
Equity and liabilities
- Other debts +€10.5m
up €10.5m (+2103.8%), from €499,895 to €11.0m
- Debts after one year -€9.9m
down €9.9m (-23.1%), from €43.0m to €33.1m
- Current portion of long-term debt +€3.2m
new in 2024: €3.2m
- Profit (loss) carried forward +€839,944
no longer reported in 2024 (was -€839,944)
Income statement
- Financial income +€7.0m
up €7.0m (+2551.1%), from €273,029 to €7.2m
- Turnover -€1.4m
down €1.4m (-10.9%), from €13.2m to €11.8m
- Goods and materials -€1.1m
down €1.1m (-17.8%), from €5.9m to €4.9m
- Services and other goods -€919,631
down €919,631 (-24.3%), from €3.8m to €2.9m
- Staff costs -€386,085
down €386,085 (-11.9%), from €3.3m to €2.9m
From the 2023 result to the 2024 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.
Result 2023
-€3.2m
Turnover
-€1.4m
Other operating income
+€330,876
Goods and materials
+€1.1m
Services and other goods
+€919,631
Staff costs
+€386,085
Depreciation
+€25,438
Write-downs
+€21,095
Other operating charges
-€77,452
Other operating items
+€1.4m
Financial income
+€7.0m
Financial charges
-€120,361
Taxes
+€80,664
Result 2024
€6.3m
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€16.9m
Investment
+€762,353
Financing
-€12.2m
Cash 2023
€846,136
From operations (derived)
+€16.9m
Net result for the year
+€6.3m
Depreciation
+€504,038
Receivables after one year
-€1.0m
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€277,051
Trade debts
-€336,450
Tax, wage and social debts
-€143,111
Advances received
-€61,957
Other debts
+€10.5m
Accrued charges and deferred income
-€339,130
Investment (derived)
+€762,353
Investment in fixed assets (net)
+€762,353
Financing
-€12.2m
Debts after one year
-€9.9m
Current portion of long-term debt
+€3.2m
Contributions, distributions and other
-€5.5m
Cash 2024
€6.3m
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,993,886 | €57,788,736 | +€3.8m | +7.0% |
| Formation expenses | 20 | €0 | €0 | = | 0.0% |
| Fixed assets | 21/28 | €46,765,517 | €45,499,126 | -€1.3m | -2.7% |
| Intangible fixed assets | 21 | €1,622,467 | €1,194,558 | -€427,910 | -26.4% |
| Tangible fixed assets | 22/27 | €214,624 | €179,441 | -€35,183 | -16.4% |
| Plant, machinery and equipment | 23 | €87,986 | €57,215 | -€30,771 | -35.0% |
| Furniture and vehicles | 24 | €17,392 | €28,131 | +€10,738 | +61.7% |
| Other tangible fixed assets | 26 | €109,246 | €94,095 | -€15,151 | -13.9% |
| Financial fixed assets | 28 | €44,928,425 | €44,125,127 | -€803,298 | -1.8% |
| Affiliated companies | 280/1 | €44,900,270 | €44,098,732 | -€801,538 | -1.8% |
| Participating interests | 280 | €44,900,270 | €44,098,732 | -€801,538 | -1.8% |
| Other financial fixed assets | 284/8 | €28,155 | €26,395 | -€1,760 | -6.3% |
| Amounts receivable and cash guarantees | 285/8 | €28,155 | €26,395 | -€1,760 | -6.3% |
| Current assets | 29/58 | €7,228,369 | €12,289,610 | +€5.1m | +70.0% |
| Amounts receivable after more than one year | 29 | €1,907,000 | €2,907,000 | +€1.0m | +52.4% |
| Other amounts receivable | 291 | €1,907,000 | €2,907,000 | +€1.0m | +52.4% |
| Amounts receivable within one year | 40/41 | €4,150,062 | €3,024,513 | -€1.1m | -27.1% |
| Trade receivables | 40 | €3,021,363 | €2,656,491 | -€364,872 | -12.1% |
| Other amounts receivable | 41 | €1,128,698 | €368,021 | -€760,677 | -67.4% |
| Cash at bank and in hand | 54/58 | €846,136 | €6,309,977 | +€5.5m | +645.7% |
| Deferred charges and accrued income | 490/1 | €325,172 | €48,121 | -€277,051 | -85.2% |
| Total equity and liabilities | 10/49 | €53,993,886 | €57,788,736 | +€3.8m | +7.0% |
| Equity | 10/15 | €7,090,895 | €7,930,839 | +€839,944 | +11.8% |
| Contributions | 10/11 | €7,930,839 | €7,930,839 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€839,944 | - | +€839,944 | |
| Amounts payable | 17/49 | €46,902,990 | €49,857,897 | +€3.0m | +6.3% |
| Amounts payable after more than one year | 17 | €43,014,515 | €33,095,778 | -€9.9m | -23.1% |
| Financial debts | 170/4 | €43,014,515 | €33,095,778 | -€9.9m | -23.1% |
| Credit institutions | 173 | €34,150,000 | €28,162,500 | -€6.0m | -17.5% |
| Other loans | 174 | €8,864,515 | €4,933,278 | -€3.9m | -44.3% |
| Amounts payable within one year | 42/48 | €3,004,007 | €16,216,781 | +€13.2m | +439.8% |
| Current portion of amounts payable after more than one year | 42 | - | €3,237,500 | +€3.2m | |
| Trade debts | 44 | €1,614,889 | €1,278,440 | -€336,450 | -20.8% |
| Suppliers | 440/4 | €1,614,889 | €1,278,440 | -€336,450 | -20.8% |
| Advances received on contracts in progress | 46 | €283,577 | €221,620 | -€61,957 | -21.8% |
| Taxes, remuneration and social security | 45 | €605,645 | €462,534 | -€143,111 | -23.6% |
| Taxes | 450/3 | €173,918 | €96,412 | -€77,506 | -44.6% |
| Remuneration and social security | 454/9 | €431,727 | €366,123 | -€65,605 | -15.2% |
| Other amounts payable | 47/48 | €499,895 | €11,016,687 | +€10.5m | +2103.8% |
| Accrued charges and deferred income | 492/3 | €884,469 | €545,338 | -€339,130 | -38.3% |
| Operating income | 70/76A | €13,330,686 | €13,600,527 | +€269,840 | +2.0% |
| Turnover | 70 | €13,209,518 | €11,764,409 | -€1.4m | -10.9% |
| Other operating income | 74 | €121,168 | €452,044 | +€330,876 | +273.1% |
| Non-recurring operating income | 76A | - | €1,384,073 | +€1.4m | |
| Operating charges | 60/66A | €14,209,709 | €11,880,078 | -€2.3m | -16.4% |
| Goods for resale, raw materials and consumables | 60 | €5,925,183 | €4,870,347 | -€1.1m | -17.8% |
| Purchases | 600/8 | €5,925,183 | €4,870,347 | -€1.1m | -17.8% |
| Services and other goods | 61 | €3,784,425 | €2,864,794 | -€919,631 | -24.3% |
| Remuneration, social security and pensions | 62 | €3,252,927 | €2,866,842 | -€386,085 | -11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €529,476 | €504,038 | -€25,438 | -4.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€21,095 | -€21,095 | |
| Other operating charges | 640/8 | €717,699 | €795,151 | +€77,452 | +10.8% |
| Operating profit (loss) | 9901 | -€879,023 | €1,720,449 | +€2.6m | |
| Financial income | 75/76B | €273,029 | €7,238,347 | +€7.0m | +2551.1% |
| Recurring financial income | 75 | €273,029 | €7,238,347 | +€7.0m | +2551.1% |
| Income from financial fixed assets | 750 | €270,609 | €7,227,674 | +€7.0m | +2570.9% |
| Other financial income | 752/9 | €2,420 | €10,672 | +€8,252 | +341.0% |
| Financial charges | 65/66B | €2,505,552 | €2,625,913 | +€120,361 | +4.8% |
| Recurring financial charges | 65 | €2,505,552 | €2,625,913 | +€120,361 | +4.8% |
| Debt charges | 650 | €2,398,969 | €2,607,228 | +€208,259 | +8.7% |
| Other financial charges | 652/9 | €106,583 | €18,685 | -€87,897 | -82.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,111,546 | €6,332,882 | +€9.4m | |
| Income taxes | 67/77 | €92,164 | €11,500 | -€80,664 | -87.5% |
| Taxes | 670/3 | €103,426 | €11,500 | -€91,926 | -88.9% |
| Tax adjustments and reversals of tax provisions | 77 | €11,262 | - | -€11,262 | |
| Profit (loss) for the period | 9904 | -€3,203,710 | €6,321,382 | +€9.5m | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,203,710 | €6,321,382 | +€9.5m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.