URSAE: 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.
URSAE
Largest movements
- Cash +€7,766
up €7,766 (+66.0%), from €11,768 to €19,534
mainly Tax, wage and social debts (+€12,921) and Trade debts (+€3,704)
- Receivables within one year +€6,186
up €6,186 (+63.8%), from €9,689 to €15,875
- Receivables after one year +€5,756
up €5,756 (+8.9%), from €64,647 to €70,403
- Tax, wage and social debts +€12,921
up €12,921 (+75.1%), from €17,205 to €30,126
- Trade debts +€3,704
up €3,704 (+144.6%), from €2,562 to €6,266
- Short-term financial debts +€1,989
up €1,989 (+1399.9%), from €142 to €2,131
- Gross operating margin -€8,911
down €8,911 (-41.3%), from €21,589 to €12,678
- Taxes +€930
up €930 (+8.0%), from €11,579 to €12,509
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 | €102,771 | €122,081 | +€19,310 | +18.8% |
| Fixed assets | 21/28 | €16,068 | €15,436 | -€632 | -3.9% |
| Tangible fixed assets | 22/27 | €1,746 | €1,114 | -€632 | -36.2% |
| Furniture and vehicles | 24 | €1,746 | €1,114 | -€632 | -36.2% |
| Financial fixed assets | 28 | €14,322 | €14,322 | = | 0.0% |
| Current assets | 29/58 | €86,704 | €106,646 | +€19,942 | +23.0% |
| Amounts receivable after more than one year | 29 | €64,647 | €70,403 | +€5,756 | +8.9% |
| Other amounts receivable | 291 | €64,647 | €70,403 | +€5,756 | +8.9% |
| Amounts receivable within one year | 40/41 | €9,689 | €15,875 | +€6,186 | +63.8% |
| Trade receivables | 40 | €9,689 | €15,875 | +€6,186 | +63.8% |
| Cash at bank and in hand | 54/58 | €11,768 | €19,534 | +€7,766 | +66.0% |
| Deferred charges and accrued income | 490/1 | €600 | €834 | +€234 | +39.1% |
| Total equity and liabilities | 10/49 | €102,771 | €122,081 | +€19,310 | +18.8% |
| Equity | 10/15 | €82,863 | €83,559 | +€696 | +0.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €76,663 | €77,359 | +€696 | +0.9% |
| Distributable reserves | 133 | €76,663 | €77,359 | +€696 | +0.9% |
| Amounts payable | 17/49 | €19,909 | €38,522 | +€18,614 | +93.5% |
| Amounts payable within one year | 42/48 | €19,909 | €38,522 | +€18,614 | +93.5% |
| Financial debts | 43 | €142 | €2,131 | +€1,989 | +1399.9% |
| Credit institutions | 430/8 | €142 | €2,131 | +€1,989 | +1399.9% |
| Trade debts | 44 | €2,562 | €6,266 | +€3,704 | +144.6% |
| Suppliers | 440/4 | €2,562 | €6,266 | +€3,704 | +144.6% |
| Taxes, remuneration and social security | 45 | €17,205 | €30,126 | +€12,921 | +75.1% |
| Taxes | 450/3 | €17,205 | €30,126 | +€12,921 | +75.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €557 | €632 | +€75 | +13.5% |
| Other operating charges | 640/8 | €769 | €809 | +€40 | +5.2% |
| Gross operating margin | 9900 | €21,589 | €12,678 | -€8,911 | -41.3% |
| Operating profit (loss) | 9901 | €20,263 | €11,237 | -€9,026 | -44.5% |
| Financial income | 75/76B | €1,957 | €2,133 | +€177 | +9.0% |
| Recurring financial income | 75 | €1,957 | €2,133 | +€177 | +9.0% |
| Financial charges | 65/66B | €76 | €164 | +€88 | +114.9% |
| Recurring financial charges | 65 | €76 | €164 | +€88 | +114.9% |
| Profit (loss) for the period before taxes | 9903 | €22,143 | €13,206 | -€8,937 | -40.4% |
| Income taxes | 67/77 | €11,579 | €12,509 | +€930 | +8.0% |
| Profit (loss) for the period | 9904 | €10,564 | €696 | -€9,867 | -93.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,564 | €696 | -€9,867 | -93.4% |
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.