URSIDI: 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.
URSIDI
Largest movements
- Stocks and contracts +€68,130
up €68,130 (+13.8%), from €494,962 to €563,092
- Short-term financial debts +€91,000
up €91,000 (+246%), from €37,000 to €128,000
- Trade debts -€39,231
down €39,231 (-36.8%), from €106,731 to €67,500
- Tax, wage and social debts +€37,965
up €37,965 (+502%), from €7,565 to €45,530
of which Taxes: +€37,965
- Gross operating margin +€34,768
up €34,768 (+29.3%), from €118,761 to €153,529
- Depreciation +€21,123
up €21,123 (+75.5%), from €27,983 to €49,106
- Financial charges +€12,791
up €12,791 (+17.8%), from €71,709 to €84,500
- Taxes +€12,734
up €12,734, from -€4,751 to €7,983
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 | €2,880,202 | €2,968,584 | +€88,382 | +3.1% |
| Fixed assets | 21/28 | €2,271,167 | €2,266,726 | -€4,441 | -0.2% |
| Tangible fixed assets | 22/27 | €2,271,167 | €2,266,726 | -€4,441 | -0.2% |
| Land and buildings | 22 | €2,257,021 | €2,256,117 | -€904 | 0.0% |
| Plant, machinery and equipment | 23 | €14,146 | €10,610 | -€3,537 | -25.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €609,035 | €701,857 | +€92,823 | +15.2% |
| Stocks and contracts in progress | 3 | €494,962 | €563,092 | +€68,130 | +13.8% |
| Stocks | 30/36 | €494,962 | €563,092 | +€68,130 | +13.8% |
| Amounts receivable within one year | 40/41 | €92,548 | €111,710 | +€19,162 | +20.7% |
| Trade receivables | 40 | €80,121 | €111,710 | +€31,589 | +39.4% |
| Other amounts receivable | 41 | €12,427 | €0 | -€12,427 | -100% |
| Cash at bank and in hand | 54/58 | €21,525 | €27,056 | +€5,530 | +25.7% |
| Total equity and liabilities | 10/49 | €2,880,202 | €2,968,584 | +€88,382 | +3.1% |
| Equity | 10/15 | €300,029 | €304,930 | +€4,901 | +1.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €250,029 | €254,930 | +€4,901 | +2.0% |
| Amounts payable | 17/49 | €2,580,172 | €2,663,653 | +€83,481 | +3.2% |
| Amounts payable after more than one year | 17 | €2,322,787 | €2,314,559 | -€8,228 | -0.4% |
| Financial debts | 170/4 | €2,223,311 | €2,115,247 | -€108,064 | -4.9% |
| Other amounts payable | 178/9 | €99,476 | €199,312 | +€99,836 | +100% |
| Amounts payable within one year | 42/48 | €257,385 | €349,094 | +€91,709 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €106,089 | €108,064 | +€1,975 | +1.9% |
| Financial debts | 43 | €37,000 | €128,000 | +€91,000 | +246% |
| Credit institutions | 430/8 | €37,000 | €128,000 | +€91,000 | +246% |
| Trade debts | 44 | €106,731 | €67,500 | -€39,231 | -36.8% |
| Suppliers | 440/4 | €106,731 | €67,500 | -€39,231 | -36.8% |
| Taxes, remuneration and social security | 45 | €7,565 | €45,530 | +€37,965 | +502% |
| Taxes | 450/3 | €7,565 | €45,530 | +€37,965 | +502% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,983 | €49,106 | +€21,123 | +75.5% |
| Other operating charges | 640/8 | €7,646 | €7,793 | +€147 | +1.9% |
| Gross operating margin | 9900 | €118,761 | €153,529 | +€34,768 | +29.3% |
| Operating profit (loss) | 9901 | €83,132 | €96,630 | +€13,498 | +16.2% |
| Financial income | 75/76B | €744 | €755 | +€11 | +1.4% |
| Recurring financial income | 75 | €744 | €755 | +€11 | +1.4% |
| Financial charges | 65/66B | €71,709 | €84,500 | +€12,791 | +17.8% |
| Recurring financial charges | 65 | €71,709 | €84,500 | +€12,791 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €12,168 | €12,884 | +€717 | +5.9% |
| Income taxes | 67/77 | -€4,751 | €7,983 | +€12,734 | |
| Profit (loss) for the period | 9904 | €16,918 | €4,901 | -€12,017 | -71.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,918 | €4,901 | -€12,017 | -71.0% |
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 25 October 2026 via checked.be.