URSA MINOR: 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.
URSA MINOR
Largest movements
- Cash +€31,902
up €31,902 (+24.0%), from €133,133 to €165,035
mainly Other debts (+€117,713) and Net result for the year (+€68,733)
- Receivables within one year +€27,181
up €27,181 (+33.2%), from €81,778 to €108,959
of which Trade receivables: +€35,116
- Other debts +€117,713
up €117,713 (+624%), from €18,878 to €136,591
- Profit (loss) carried forward -€91,267
down €91,267 (-56.3%), from €162,176 to €70,909
- Tax, wage and social debts +€38,492
up €38,492 (+9,174%), from €420 to €38,912
of which Taxes: +€23,492
- Trade debts -€6,023
down €6,023 (-42.9%), from €14,050 to €8,027
- Gross operating margin +€56,697
up €56,697 (+181%), from €31,308 to €88,005
- Taxes +€11,282
up €11,282 (+168%), from €6,710 to €17,992
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 | €215,426 | €274,342 | +€58,916 | +27.3% |
| Fixed assets | 21/28 | €293 | €30 | -€263 | -89.8% |
| Tangible fixed assets | 22/27 | €263 | - | -€263 | |
| Furniture and vehicles | 24 | €263 | - | -€263 | |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €215,133 | €274,312 | +€59,179 | +27.5% |
| Amounts receivable within one year | 40/41 | €81,778 | €108,959 | +€27,181 | +33.2% |
| Trade receivables | 40 | €37,146 | €72,261 | +€35,116 | +94.5% |
| Other amounts receivable | 41 | €44,633 | €36,698 | -€7,935 | -17.8% |
| Cash at bank and in hand | 54/58 | €133,133 | €165,035 | +€31,902 | +24.0% |
| Deferred charges and accrued income | 490/1 | €221 | €317 | +€96 | +43.3% |
| Total equity and liabilities | 10/49 | €215,426 | €274,342 | +€58,916 | +27.3% |
| Equity | 10/15 | €180,776 | €89,509 | -€91,267 | -50.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €162,176 | €70,909 | -€91,267 | -56.3% |
| Amounts payable | 17/49 | €34,649 | €184,832 | +€150,183 | +433% |
| Amounts payable within one year | 42/48 | €33,347 | €183,530 | +€150,183 | +450% |
| Trade debts | 44 | €14,050 | €8,027 | -€6,023 | -42.9% |
| Suppliers | 440/4 | €14,050 | €8,027 | -€6,023 | -42.9% |
| Taxes, remuneration and social security | 45 | €420 | €38,912 | +€38,492 | +9,174% |
| Taxes | 450/3 | €420 | €23,912 | +€23,492 | +5,599% |
| Remuneration and social security | 454/9 | - | €15,000 | +€15,000 | |
| Other amounts payable | 47/48 | €18,878 | €136,591 | +€117,713 | +624% |
| Accrued charges and deferred income | 492/3 | €1,302 | €1,302 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €385 | €263 | -€122 | -31.7% |
| Other operating charges | 640/8 | €288 | €296 | +€8 | +2.9% |
| Gross operating margin | 9900 | €31,308 | €88,005 | +€56,697 | +181% |
| Operating profit (loss) | 9901 | €30,635 | €87,446 | +€56,811 | +185% |
| Financial income | 75/76B | €0 | €1 | +€1 | +1,238% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +1,238% |
| Financial charges | 65/66B | €1,190 | €722 | -€468 | -39.3% |
| Recurring financial charges | 65 | €1,190 | €722 | -€468 | -39.3% |
| Profit (loss) for the period before taxes | 9903 | €29,445 | €86,725 | +€57,280 | +195% |
| Income taxes | 67/77 | €6,710 | €17,992 | +€11,282 | +168% |
| Profit (loss) for the period | 9904 | €22,735 | €68,733 | +€45,998 | +202% |
| Profit (loss) for the period to be appropriated | 9905 | €22,735 | €68,733 | +€45,998 | +202% |
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 19 October 2026 via checked.be.