URGO: 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
URGO
NACE 46.190, Agents in non-specialised wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€237,137
2024 · €46,643+€190,495
Equity
€2.4m
2024 · €2.1m+€237,137
Cash
-
2024 · €0
Balance sheet total
€17.1m
2024 · €5.6m+€11.5m
Largest movements
Assets
- Financial fixed assets +€9.8m
up €9.8m (+1825928.1%), from €539 to €9.8m
of which Affiliated companies: +€9.8m
- Receivables within one year +€1.6m
up €1.6m (+59.4%), from €2.7m to €4.3m
of which Trade receivables: +€1.5m
- Stocks and contracts +€730,758
up €730,758 (+34.0%), from €2.1m to €2.9m
- Current investments -€726,234
no longer reported in 2025 (was €726,234)
Equity and liabilities
- Other debts +€10.3m
up €10.3m, from €0 to €10.3m
- Trade debts +€652,470
up €652,470 (+20.9%), from €3.1m to €3.8m
- Profit (loss) carried forward +€237,137
up €237,137 (+15.7%), from €1.5m to €1.7m
- Tax, wage and social debts +€219,492
up €219,492 (+59.8%), from €367,270 to €586,763
of which Remuneration and social security: +€152,111
Income statement
- Turnover +€3.3m
up €3.3m (+24.2%), from €13.5m to €16.8m
- Services and other goods +€1.1m
up €1.1m (+15.7%), from €6.9m to €8.0m
- Goods and materials +€951,192
up €951,192 (+22.8%), from €4.2m to €5.1m
of which Purchases: +€1.7m
- Staff costs +€631,818
up €631,818 (+32.9%), from €1.9m to €2.6m
- Other operating income +€313,097
up €313,097 (+148.2%), from €211,216 to €524,314
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.
Result 2024
€46,643
Turnover
+€3.3m
Other operating income
+€313,097
Goods and materials
-€951,192
Services and other goods
-€1.1m
Staff costs
-€631,818
Depreciation
-€4,494
Write-downs
-€234,695
Other operating charges
+€26,363
Financial income
-€51,504
Financial charges
-€288,474
Taxes
-€182,070
Result 2025
€237,137
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.
From operations
+€9.1m
Investment
-€9.1m
Financing
€0
Cash 2024
€0
From operations (derived)
+€9.1m
Net result for the year
+€237,137
Depreciation
+€18,331
Stocks and contracts
-€730,758
Receivables within one year
-€1.6m
Deferred charges and accrued income
-€17,929
Trade debts
+€652,470
Tax, wage and social debts
+€219,492
Other debts
+€10.3m
Accrued charges and deferred income
+€114,109
Investment (derived)
-€9.1m
Investment in fixed assets (net)
-€9.9m
Current investments
+€726,234
Cash 2025
€0
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,626,379 | €17,101,368 | +€11.5m | +203.9% |
| Fixed assets | 21/28 | €27,985 | €9,871,905 | +€9.8m | +35175.9% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €27,446 | €29,979 | +€2,533 | +9.2% |
| Plant, machinery and equipment | 23 | €3,056 | €346 | -€2,710 | -88.7% |
| Furniture and vehicles | 24 | €19,746 | €29,633 | +€9,887 | +50.1% |
| Assets under construction and advance payments | 27 | €4,644 | - | -€4,644 | |
| Financial fixed assets | 28 | €539 | €9,841,926 | +€9.8m | +1825928.1% |
| Affiliated companies | 280/1 | - | €9,841,387 | +€9.8m | |
| Participating interests | 280 | - | €9,841,387 | +€9.8m | |
| Other financial fixed assets | 284/8 | €539 | €539 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €539 | €539 | = | 0.0% |
| Current assets | 29/58 | €5,598,394 | €7,229,462 | +€1.6m | +29.1% |
| Stocks and contracts in progress | 3 | €2,148,746 | €2,879,504 | +€730,758 | +34.0% |
| Stocks | 30/36 | €2,148,746 | €2,879,504 | +€730,758 | +34.0% |
| Goods purchased for resale | 34 | €2,148,746 | €2,879,504 | +€730,758 | +34.0% |
| Amounts receivable within one year | 40/41 | €2,707,990 | €4,316,606 | +€1.6m | +59.4% |
| Trade receivables | 40 | €2,400,810 | €3,906,091 | +€1.5m | +62.7% |
| Other amounts receivable | 41 | €307,180 | €410,514 | +€103,335 | +33.6% |
| Current investments | 50/53 | €726,234 | - | -€726,234 | |
| Other investments | 51/53 | €726,234 | - | -€726,234 | |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €15,424 | €33,353 | +€17,929 | +116.2% |
| Total equity and liabilities | 10/49 | €5,626,379 | €17,101,368 | +€11.5m | +203.9% |
| Equity | 10/15 | €2,122,118 | €2,359,256 | +€237,137 | +11.2% |
| Contributions | 10/11 | €554,000 | €554,000 | = | 0.0% |
| Capital | 10 | €554,000 | €554,000 | = | 0.0% |
| Issued capital | 100 | €554,000 | €554,000 | = | 0.0% |
| Reserves | 13 | €55,400 | €55,400 | = | 0.0% |
| Non-distributable reserves | 130/1 | €55,400 | €55,400 | = | 0.0% |
| Legal reserve | 130 | €55,400 | €55,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,512,719 | €1,749,856 | +€237,137 | +15.7% |
| Amounts payable | 17/49 | €3,504,261 | €14,742,112 | +€11.2m | +320.7% |
| Amounts payable within one year | 42/48 | €3,484,136 | €14,607,878 | +€11.1m | +319.3% |
| Trade debts | 44 | €3,116,865 | €3,769,335 | +€652,470 | +20.9% |
| Suppliers | 440/4 | €3,116,865 | €3,769,335 | +€652,470 | +20.9% |
| Taxes, remuneration and social security | 45 | €367,270 | €586,763 | +€219,492 | +59.8% |
| Taxes | 450/3 | €53,394 | €120,776 | +€67,382 | +126.2% |
| Remuneration and social security | 454/9 | €313,876 | €465,987 | +€152,111 | +48.5% |
| Other amounts payable | 47/48 | €0 | €10,251,780 | +€10.3m | |
| Accrued charges and deferred income | 492/3 | €20,125 | €134,234 | +€114,109 | +567.0% |
| Operating income | 70/76A | €13,744,749 | €17,332,407 | +€3.6m | +26.1% |
| Turnover | 70 | €13,533,533 | €16,808,093 | +€3.3m | +24.2% |
| Other operating income | 74 | €211,216 | €524,314 | +€313,097 | +148.2% |
| Operating charges | 60/66A | €13,739,196 | €16,614,311 | +€2.9m | +20.9% |
| Goods for resale, raw materials and consumables | 60 | €4,172,526 | €5,123,719 | +€951,192 | +22.8% |
| Purchases | 600/8 | €4,422,646 | €6,078,526 | +€1.7m | +37.4% |
| Change in stocks: decrease (increase) | 609 | -€250,120 | -€954,807 | -€704,687 | -281.7% |
| Services and other goods | 61 | €6,881,115 | €7,960,394 | +€1.1m | +15.7% |
| Remuneration, social security and pensions | 62 | €1,920,082 | €2,551,900 | +€631,818 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,837 | €18,331 | +€4,494 | +32.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €12,207 | €246,902 | +€234,695 | +1922.6% |
| Other operating charges | 640/8 | €739,429 | €713,066 | -€26,363 | -3.6% |
| Operating profit (loss) | 9901 | €5,553 | €718,096 | +€712,542 | +12831.1% |
| Financial income | 75/76B | €53,916 | €2,412 | -€51,504 | -95.5% |
| Recurring financial income | 75 | €53,916 | €2,412 | -€51,504 | -95.5% |
| Income from financial fixed assets | 750 | €6,255 | - | -€6,255 | |
| Other financial income | 752/9 | €47,661 | €2,412 | -€45,249 | -94.9% |
| Financial charges | 65/66B | €29,854 | €318,328 | +€288,474 | +966.3% |
| Recurring financial charges | 65 | €29,854 | €318,328 | +€288,474 | +966.3% |
| Debt charges | 650 | €22,622 | €295,913 | +€273,292 | +1208.1% |
| Other financial charges | 652/9 | €7,232 | €22,415 | +€15,183 | +209.9% |
| Profit (loss) for the period before taxes | 9903 | €29,616 | €402,180 | +€372,564 | +1258.0% |
| Income taxes | 67/77 | -€17,027 | €165,042 | +€182,070 | |
| Taxes | 670/3 | €21,000 | €165,042 | +€144,042 | +685.9% |
| Tax adjustments and reversals of tax provisions | 77 | €38,027 | - | -€38,027 | |
| Profit (loss) for the period | 9904 | €46,643 | €237,137 | +€190,495 | +408.4% |
| Profit (loss) for the period to be appropriated | 9905 | €46,643 | €237,137 | +€190,495 | +408.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.