URGOL: 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.
URGOL
Largest movements
- Deferred charges and accrued income +€22,901
up €22,901 (+55.8%), from €41,038 to €63,938
- Cash -€16,821
down €16,821 (-7.7%), from €218,195 to €201,374
mainly Contributions, distributions and other (-€274,010) and Deferred charges and accrued income (-€22,901)
- Other debts +€175,231
up €175,231 (+373.5%), from €46,912 to €222,142
- Reserves -€151,026
no longer reported in 2025 (was €151,026)
- Tax, wage and social debts -€12,499
down €12,499 (-25.3%), from €49,449 to €36,950
of which Taxes: -€12,499
- Current portion of long-term debt -€7,602
down €7,602 (-74.8%), from €10,164 to €2,562
- Gross operating margin +€25,652
up €25,652 (+18.7%), from €137,201 to €162,853
- Depreciation -€10,873
down €10,873 (-73.6%), from €14,764 to €3,891
- Taxes +€9,669
up €9,669 (+37.9%), from €25,516 to €35,185
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
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 | €265,695 | €269,222 | +€3,527 | +1.3% |
| Fixed assets | 21/28 | €6,462 | €3,909 | -€2,553 | -39.5% |
| Tangible fixed assets | 22/27 | €6,462 | €3,909 | -€2,553 | -39.5% |
| Furniture and vehicles | 24 | €6,462 | €3,909 | -€2,553 | -39.5% |
| Current assets | 29/58 | €259,233 | €265,312 | +€6,080 | +2.3% |
| Cash at bank and in hand | 54/58 | €218,195 | €201,374 | -€16,821 | -7.7% |
| Deferred charges and accrued income | 490/1 | €41,038 | €63,938 | +€22,901 | +55.8% |
| Total equity and liabilities | 10/49 | €265,695 | €269,222 | +€3,527 | +1.3% |
| Equity | 10/15 | €154,026 | €3,000 | -€151,026 | -98.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €151,026 | - | -€151,026 | |
| Distributable reserves | 133 | €151,026 | - | -€151,026 | |
| Amounts payable | 17/49 | €111,669 | €266,222 | +€154,552 | +138.4% |
| Amounts payable after more than one year | 17 | €2,562 | - | -€2,562 | |
| Financial debts | 170/4 | €2,562 | - | -€2,562 | |
| Amounts payable within one year | 42/48 | €109,108 | €266,222 | +€157,114 | +144.0% |
| Current portion of amounts payable after more than one year | 42 | €10,164 | €2,562 | -€7,602 | -74.8% |
| Trade debts | 44 | €2,583 | €4,567 | +€1,984 | +76.8% |
| Suppliers | 440/4 | €2,583 | €4,567 | +€1,984 | +76.8% |
| Taxes, remuneration and social security | 45 | €49,449 | €36,950 | -€12,499 | -25.3% |
| Taxes | 450/3 | €47,199 | €34,700 | -€12,499 | -26.5% |
| Remuneration and social security | 454/9 | €2,250 | €2,250 | = | 0.0% |
| Other amounts payable | 47/48 | €46,912 | €222,142 | +€175,231 | +373.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,764 | €3,891 | -€10,873 | -73.6% |
| Other operating charges | 640/8 | €681 | €638 | -€43 | -6.3% |
| Gross operating margin | 9900 | €137,201 | €162,853 | +€25,652 | +18.7% |
| Operating profit (loss) | 9901 | €121,756 | €158,324 | +€36,568 | +30.0% |
| Financial charges | 65/66B | €284 | €154 | -€130 | -45.7% |
| Recurring financial charges | 65 | €284 | €154 | -€130 | -45.7% |
| Profit (loss) for the period before taxes | 9903 | €121,472 | €158,170 | +€36,698 | +30.2% |
| Income taxes | 67/77 | €25,516 | €35,185 | +€9,669 | +37.9% |
| Profit (loss) for the period | 9904 | €95,956 | €122,985 | +€27,028 | +28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €95,956 | €122,985 | +€27,028 | +28.2% |
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 6 October 2026 via checked.be.