UPVEST: 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.
UPVEST
Largest movements
- Cash +€18,418
up €18,418 (+39.6%), from €46,511 to €64,929
mainly Net result for the year (+€54,173) and Other debts (+€51,411)
- Deferred charges and accrued income +€9,166
up €9,166 (+1,338%), from €685 to €9,851
- Receivables within one year +€8,956
up €8,956 (+27.4%), from €32,653 to €41,609
of which Trade receivables: +€13,084
- Tangible fixed assets +€2,275
up €2,275 (+106%), from €2,140 to €4,415
of which Furniture and vehicles: +€2,598
- Other debts +€51,411
up €51,411 (+101%), from €50,889 to €102,301
- Provisions -€16,000
down €16,000 (-100%), from €16,000 to €0
- Tax, wage and social debts +€3,894
up €3,894 (+111%), from €3,517 to €7,411
of which Taxes: +€3,762
- Trade debts -€2,173
down €2,173 (-65.8%), from €3,304 to €1,130
- Financial charges +€25,699
up €25,699 (+685%), from €3,752 to €29,451
- Gross operating margin +€19,232
up €19,232 (+20.6%), from €93,327 to €112,559
- Provisions -€16,000
down €16,000 (-100%), from €16,000 to €0
- Taxes +€4,258
up €4,258 (+18.9%), from €22,577 to €26,835
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €129,495 | €168,309 | +€38,814 | +30.0% |
| Fixed assets | 21/28 | €29,646 | €31,921 | +€2,275 | +7.7% |
| Tangible fixed assets | 22/27 | €2,140 | €4,415 | +€2,275 | +106% |
| Plant, machinery and equipment | 23 | €1,492 | €1,169 | -€323 | -21.6% |
| Furniture and vehicles | 24 | €648 | €3,246 | +€2,598 | +401% |
| Financial fixed assets | 28 | €27,506 | €27,506 | = | 0.0% |
| Current assets | 29/58 | €99,849 | €136,388 | +€36,539 | +36.6% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €32,653 | €41,609 | +€8,956 | +27.4% |
| Trade receivables | 40 | €3,493 | €16,577 | +€13,084 | +375% |
| Other amounts receivable | 41 | €29,160 | €25,032 | -€4,128 | -14.2% |
| Cash at bank and in hand | 54/58 | €46,511 | €64,929 | +€18,418 | +39.6% |
| Deferred charges and accrued income | 490/1 | €685 | €9,851 | +€9,166 | +1,338% |
| Total equity and liabilities | 10/49 | €129,495 | €168,309 | +€38,814 | +30.0% |
| Equity | 10/15 | €52,750 | €52,750 | = | 0.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €51,750 | €51,750 | = | 0.0% |
| Distributable reserves | 133 | €51,750 | €51,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €16,000 | €0 | -€16,000 | -100% |
| Provisions for liabilities and charges | 160/5 | €16,000 | €0 | -€16,000 | -100% |
| Other liabilities and charges | 164/5 | €16,000 | €0 | -€16,000 | -100% |
| Amounts payable | 17/49 | €60,745 | €115,559 | +€54,814 | +90.2% |
| Amounts payable within one year | 42/48 | €57,710 | €110,842 | +€53,132 | +92.1% |
| Trade debts | 44 | €3,304 | €1,130 | -€2,173 | -65.8% |
| Suppliers | 440/4 | €3,304 | €1,130 | -€2,173 | -65.8% |
| Taxes, remuneration and social security | 45 | €3,517 | €7,411 | +€3,894 | +111% |
| Taxes | 450/3 | €3,517 | €7,279 | +€3,762 | +107% |
| Remuneration and social security | 454/9 | - | €132 | +€132 | |
| Other amounts payable | 47/48 | €50,889 | €102,301 | +€51,411 | +101% |
| Accrued charges and deferred income | 492/3 | €3,035 | €4,717 | +€1,682 | +55.4% |
| Non-recurring operating income | 76A | - | €16,000 | +€16,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €610 | €925 | +€314 | +51.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €16,000 | €0 | -€16,000 | -100% |
| Other operating charges | 640/8 | €798 | €527 | -€272 | -34.0% |
| Non-recurring operating charges | 66A | €1,398 | €648 | -€749 | -53.6% |
| Gross operating margin | 9900 | €93,327 | €112,559 | +€19,232 | +20.6% |
| Operating profit (loss) | 9901 | €74,520 | €110,459 | +€35,939 | +48.2% |
| Financial income | 75/76B | €129 | €0 | -€129 | -100% |
| Recurring financial income | 75 | €129 | €0 | -€129 | -100% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,752 | €29,451 | +€25,699 | +685% |
| Recurring financial charges | 65 | €3,752 | €29,451 | +€25,699 | +685% |
| Profit (loss) for the period before taxes | 9903 | €70,897 | €81,008 | +€10,111 | +14.3% |
| Income taxes | 67/77 | €22,577 | €26,835 | +€4,258 | +18.9% |
| Profit (loss) for the period | 9904 | €48,320 | €54,173 | +€5,853 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €48,320 | €54,173 | +€5,853 | +12.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.