Urban Matters: 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.
Urban Matters
Largest movements
- Current investments -€831,229
down €831,229 (-56.2%), from €1.5m to €647,634
- Receivables within one year -€95,395
down €95,395 (-17.7%), from €537,459 to €442,063
of which Trade receivables: -€128,789
- Receivables after one year +€93,070
up €93,070 (+18.2%), from €510,175 to €603,244
- Cash -€54,754
down €54,754 (-50.6%), from €108,216 to €53,461
mainly Contributions, distributions and other (-€1.1m) and Accrued charges and deferred income (-€223,941)
- Deferred charges and accrued income -€53,208
down €53,208 (-67.0%), from €79,359 to €26,152
- Reserves -€781,205
down €781,205 (-35.6%), from €2.2m to €1.4m
- Accrued charges and deferred income -€223,941
down €223,941 (-54.3%), from €412,649 to €188,708
- Financial income +€229,401
up €229,401 (+387%), from €59,247 to €288,648
- Write-downs -€81,500
down €81,500 (-100%), from €81,500 to €0
- Gross operating margin -€62,698
down €62,698 (-45.8%), from €136,746 to €74,048
- Taxes +€29,904
up €29,904 (+375%), from €7,984 to €37,888
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 | €2,766,518 | €1,815,103 | -€951,416 | -34.4% |
| Fixed assets | 21/28 | €52,447 | €42,548 | -€9,899 | -18.9% |
| Tangible fixed assets | 22/27 | €52,447 | €42,548 | -€9,899 | -18.9% |
| Furniture and vehicles | 24 | €52,447 | €42,548 | -€9,899 | -18.9% |
| Current assets | 29/58 | €2,714,072 | €1,772,555 | -€941,517 | -34.7% |
| Amounts receivable after more than one year | 29 | €510,175 | €603,244 | +€93,070 | +18.2% |
| Other amounts receivable | 291 | €510,175 | €603,244 | +€93,070 | +18.2% |
| Amounts receivable within one year | 40/41 | €537,459 | €442,063 | -€95,395 | -17.7% |
| Trade receivables | 40 | €129,946 | €1,157 | -€128,789 | -99.1% |
| Other amounts receivable | 41 | €407,513 | €440,906 | +€33,393 | +8.2% |
| Current investments | 50/53 | €1,478,863 | €647,634 | -€831,229 | -56.2% |
| Cash at bank and in hand | 54/58 | €108,216 | €53,461 | -€54,754 | -50.6% |
| Deferred charges and accrued income | 490/1 | €79,359 | €26,152 | -€53,208 | -67.0% |
| Total equity and liabilities | 10/49 | €2,766,518 | €1,815,103 | -€951,416 | -34.4% |
| Equity | 10/15 | €2,213,324 | €1,432,118 | -€781,205 | -35.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,194,724 | €1,413,518 | -€781,205 | -35.6% |
| Distributable reserves | 133 | €2,194,724 | €1,413,518 | -€781,205 | -35.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €553,195 | €382,984 | -€170,210 | -30.8% |
| Amounts payable after more than one year | 17 | €35,461 | €24,768 | -€10,693 | -30.2% |
| Financial debts | 170/4 | €35,461 | €24,768 | -€10,693 | -30.2% |
| Amounts payable within one year | 42/48 | €105,085 | €169,509 | +€64,424 | +61.3% |
| Current portion of amounts payable after more than one year | 42 | €10,253 | €10,693 | +€440 | +4.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €75,610 | €89,173 | +€13,563 | +17.9% |
| Suppliers | 440/4 | €75,610 | €89,173 | +€13,563 | +17.9% |
| Taxes, remuneration and social security | 45 | €2,718 | €28,145 | +€25,427 | +936% |
| Taxes | 450/3 | €2,718 | €28,145 | +€25,427 | +936% |
| Other amounts payable | 47/48 | €16,503 | €41,497 | +€24,994 | +151% |
| Accrued charges and deferred income | 492/3 | €412,649 | €188,708 | -€223,941 | -54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,666 | €13,338 | +€672 | +5.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €81,500 | €0 | -€81,500 | -100% |
| Other operating charges | 640/8 | €3,304 | €3,157 | -€146 | -4.4% |
| Non-recurring operating charges | 66A | €11,298 | €0 | -€11,298 | -100% |
| Gross operating margin | 9900 | €136,746 | €74,048 | -€62,698 | -45.8% |
| Operating profit (loss) | 9901 | €27,977 | €57,553 | +€29,575 | +106% |
| Financial income | 75/76B | €59,247 | €288,648 | +€229,401 | +387% |
| Recurring financial income | 75 | €59,247 | €288,648 | +€229,401 | +387% |
| Financial charges | 65/66B | €1,887 | €1,782 | -€105 | -5.6% |
| Recurring financial charges | 65 | €1,887 | €1,782 | -€105 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €85,337 | €344,418 | +€259,082 | +304% |
| Income taxes | 67/77 | €7,984 | €37,888 | +€29,904 | +375% |
| Profit (loss) for the period | 9904 | €77,353 | €306,531 | +€229,177 | +296% |
| Profit (loss) for the period to be appropriated | 9905 | €77,353 | €306,531 | +€229,177 | +296% |
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 29 October 2026 via checked.be.