URMALE: 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.
URMALE
Largest movements
- Cash +€319,682
up €319,682 (+292%), from €109,485 to €429,167
mainly Current investments (+€175,000) and Net result for the year (+€106,335)
- Current investments -€175,000
down €175,000 (-100%), from €175,000 to €0
- Receivables within one year -€11,139
down €11,139 (-5.0%), from €221,629 to €210,490
of which Other amounts receivable: -€11,663
- Reserves +€106,000
up €106,000 (+44.4%), from €238,860 to €344,860
- Other debts +€25,032
up €25,032 (+66.9%), from €37,401 to €62,433
- Trade debts -€24,067
down €24,067 (-20.9%), from €114,897 to €90,830
- Short-term financial debts +€14,296
up €14,296 (+134%), from €10,648 to €24,945
- Tax, wage and social debts +€10,407
up €10,407 (+635%), from €1,638 to €12,046
of which Remuneration and social security: +€8,882
- Gross operating margin +€35,249
up €35,249 (+18.7%), from €188,947 to €224,196
- Staff costs +€21,118
up €21,118 (+47.1%), from €44,838 to €65,955
- Financial income -€5,289
down €5,289 (-42.7%), from €12,376 to €7,087
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 | €525,531 | €655,957 | +€130,427 | +24.8% |
| Fixed assets | 21/28 | €13,439 | €11,480 | -€1,959 | -14.6% |
| Tangible fixed assets | 22/27 | €10,753 | €11,480 | +€727 | +6.8% |
| Plant, machinery and equipment | 23 | €6,814 | €6,289 | -€525 | -7.7% |
| Furniture and vehicles | 24 | €3,939 | €5,191 | +€1,252 | +31.8% |
| Financial fixed assets | 28 | €2,686 | €0 | -€2,686 | -100% |
| Current assets | 29/58 | €512,091 | €644,477 | +€132,386 | +25.9% |
| Amounts receivable within one year | 40/41 | €221,629 | €210,490 | -€11,139 | -5.0% |
| Trade receivables | 40 | €144,899 | €145,423 | +€524 | +0.4% |
| Other amounts receivable | 41 | €76,730 | €65,067 | -€11,663 | -15.2% |
| Current investments | 50/53 | €175,000 | €0 | -€175,000 | -100% |
| Cash at bank and in hand | 54/58 | €109,485 | €429,167 | +€319,682 | +292% |
| Deferred charges and accrued income | 490/1 | €5,977 | €4,820 | -€1,156 | -19.3% |
| Total equity and liabilities | 10/49 | €525,531 | €655,957 | +€130,427 | +24.8% |
| Equity | 10/15 | €359,024 | €465,359 | +€106,335 | +29.6% |
| Contributions | 10/11 | €7,400 | €7,400 | = | 0.0% |
| Reserves | 13 | €238,860 | €344,860 | +€106,000 | +44.4% |
| Distributable reserves | 133 | €238,860 | €344,860 | +€106,000 | +44.4% |
| Profit (loss) carried forward | 14 | €112,764 | €113,099 | +€335 | +0.3% |
| Amounts payable | 17/49 | €166,506 | €190,598 | +€24,092 | +14.5% |
| Amounts payable within one year | 42/48 | €166,216 | €190,253 | +€24,037 | +14.5% |
| Financial debts | 43 | €10,648 | €24,945 | +€14,296 | +134% |
| Credit institutions | 430/8 | €10,648 | €24,945 | +€14,296 | +134% |
| Trade debts | 44 | €114,897 | €90,830 | -€24,067 | -20.9% |
| Suppliers | 440/4 | €114,897 | €90,830 | -€24,067 | -20.9% |
| Advances received on contracts in progress | 46 | €1,631 | €0 | -€1,631 | -100% |
| Taxes, remuneration and social security | 45 | €1,638 | €12,046 | +€10,407 | +635% |
| Taxes | 450/3 | €0 | €1,525 | +€1,525 | |
| Remuneration and social security | 454/9 | €1,638 | €10,520 | +€8,882 | +542% |
| Other amounts payable | 47/48 | €37,401 | €62,433 | +€25,032 | +66.9% |
| Accrued charges and deferred income | 492/3 | €291 | €346 | +€55 | +19.0% |
| Remuneration, social security and pensions | 62 | €44,838 | €65,955 | +€21,118 | +47.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,777 | €2,835 | +€58 | +2.1% |
| Other operating charges | 640/8 | €2,021 | €597 | -€1,423 | -70.4% |
| Gross operating margin | 9900 | €188,947 | €224,196 | +€35,249 | +18.7% |
| Operating profit (loss) | 9901 | €139,312 | €154,809 | +€15,496 | +11.1% |
| Financial income | 75/76B | €12,376 | €7,087 | -€5,289 | -42.7% |
| Recurring financial income | 75 | €12,376 | €7,087 | -€5,289 | -42.7% |
| Financial charges | 65/66B | €4,579 | €4,177 | -€402 | -8.8% |
| Recurring financial charges | 65 | €4,579 | €4,177 | -€402 | -8.8% |
| Profit (loss) for the period before taxes | 9903 | €147,109 | €157,719 | +€10,609 | +7.2% |
| Income taxes | 67/77 | €49,575 | €51,384 | +€1,809 | +3.6% |
| Profit (loss) for the period | 9904 | €97,534 | €106,335 | +€8,800 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,534 | €106,335 | +€8,800 | +9.0% |
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 27 October 2026 via checked.be.