URSO: 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.
URSO
Largest movements
- Tangible fixed assets +€279,981
up €279,981 (+956.6%), from €29,267 to €309,249
of which Land and buildings: +€277,759
- Cash -€64,425
down €64,425 (-82.7%), from €77,935 to €13,510
mainly Investment in fixed assets (net) (-€318,707) and Contributions, distributions and other (-€70,000)
- Receivables within one year +€6,677
up €6,677 (+53.6%), from €12,466 to €19,142
of which Trade receivables: +€5,192
- Debts after one year +€200,466
new in 2025: €200,466
- Other debts +€72,801
up €72,801 (+291.5%), from €24,979 to €97,779
- Reserves -€53,970
down €53,970 (-75.5%), from €71,526 to €17,556
- Current portion of long-term debt +€12,851
new in 2025: €12,851
- Trade debts -€6,529
down €6,529 (-64.9%), from €10,060 to €3,531
- Depreciation +€31,714
up €31,714 (+452.4%), from €7,011 to €38,725
- Gross operating margin +€15,982
up €15,982 (+32.2%), from €49,629 to €65,611
- Taxes -€4,243
down €4,243 (-50.5%), from €8,396 to €4,154
- Financial charges +€2,085
up €2,085 (+56.8%), from €3,672 to €5,757
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 | €120,518 | €344,626 | +€224,108 | +186.0% |
| Fixed assets | 21/28 | €30,117 | €310,099 | +€279,981 | +929.6% |
| Tangible fixed assets | 22/27 | €29,267 | €309,249 | +€279,981 | +956.6% |
| Land and buildings | 22 | - | €277,759 | +€277,759 | |
| Plant, machinery and equipment | 23 | €2,974 | €9,070 | +€6,096 | +205.0% |
| Furniture and vehicles | 24 | €3,633 | €2,112 | -€1,521 | -41.9% |
| Other tangible fixed assets | 26 | €22,660 | €20,307 | -€2,353 | -10.4% |
| Financial fixed assets | 28 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €90,401 | €34,527 | -€55,874 | -61.8% |
| Amounts receivable within one year | 40/41 | €12,466 | €19,142 | +€6,677 | +53.6% |
| Trade receivables | 40 | €9,964 | €15,157 | +€5,192 | +52.1% |
| Other amounts receivable | 41 | €2,501 | €3,986 | +€1,485 | +59.3% |
| Cash at bank and in hand | 54/58 | €77,935 | €13,510 | -€64,425 | -82.7% |
| Deferred charges and accrued income | 490/1 | €0 | €1,875 | +€1,875 | |
| Total equity and liabilities | 10/49 | €120,518 | €344,626 | +€224,108 | +186.0% |
| Equity | 10/15 | €74,026 | €20,056 | -€53,970 | -72.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €71,526 | €17,556 | -€53,970 | -75.5% |
| Distributable reserves | 133 | €71,526 | €17,556 | -€53,970 | -75.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,492 | €324,569 | +€278,078 | +598.1% |
| Amounts payable after more than one year | 17 | - | €200,466 | +€200,466 | |
| Financial debts | 170/4 | - | €200,466 | +€200,466 | |
| Amounts payable within one year | 42/48 | €43,550 | €124,104 | +€80,554 | +185.0% |
| Current portion of amounts payable after more than one year | 42 | - | €12,851 | +€12,851 | |
| Trade debts | 44 | €10,060 | €3,531 | -€6,529 | -64.9% |
| Suppliers | 440/4 | €10,060 | €3,531 | -€6,529 | -64.9% |
| Taxes, remuneration and social security | 45 | €8,511 | €9,943 | +€1,432 | +16.8% |
| Taxes | 450/3 | €8,511 | €9,943 | +€1,432 | +16.8% |
| Other amounts payable | 47/48 | €24,979 | €97,779 | +€72,801 | +291.5% |
| Accrued charges and deferred income | 492/3 | €2,942 | €0 | -€2,942 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,011 | €38,725 | +€31,714 | +452.4% |
| Other operating charges | 640/8 | €1,204 | €953 | -€251 | -20.8% |
| Gross operating margin | 9900 | €49,629 | €65,611 | +€15,982 | +32.2% |
| Operating profit (loss) | 9901 | €41,414 | €25,933 | -€15,482 | -37.4% |
| Financial income | 75/76B | €5 | €8 | +€3 | +52.5% |
| Recurring financial income | 75 | €5 | €8 | +€3 | +52.5% |
| Financial charges | 65/66B | €3,672 | €5,757 | +€2,085 | +56.8% |
| Recurring financial charges | 65 | €3,672 | €5,757 | +€2,085 | +56.8% |
| Profit (loss) for the period before taxes | 9903 | €37,748 | €20,184 | -€17,564 | -46.5% |
| Income taxes | 67/77 | €8,396 | €4,154 | -€4,243 | -50.5% |
| Profit (loss) for the period | 9904 | €29,351 | €16,030 | -€13,321 | -45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €29,351 | €16,030 | -€13,321 | -45.4% |
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 30 September 2026 via checked.be.