URSUS BEHEER: 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.
URSUS BEHEER
Largest movements
- Receivables within one year +€230,314
up €230,314 (+49.3%), from €466,961 to €697,275
of which Other amounts receivable: +€214,314
- Cash -€173,596
down €173,596 (-96.6%), from €179,795 to €6,200
mainly Contributions, distributions and other (-€262,929) and Receivables within one year (-€230,314)
- Tangible fixed assets -€39,400
down €39,400 (-7.3%), from €536,271 to €496,871
of which Land and buildings: -€21,887
- Other debts +€256,981
up €256,981 (+4,320%), from €5,948 to €262,929
- Reserves -€222,281
down €222,281 (-34.4%), from €645,755 to €423,474
of which Distributable reserves: -€222,281
- Tax, wage and social debts -€94,134
down €94,134 (-59.6%), from €157,907 to €63,773
of which Taxes: -€96,182
- Debts after one year +€60,455
up €60,455 (+19.9%), from €303,046 to €363,501
- Current portion of long-term debt +€28,396
up €28,396 (+77.4%), from €36,664 to €65,059
- Gross operating margin -€106,416
down €106,416 (-49.3%), from €215,890 to €109,473
- Taxes -€74,771
down €74,771 (-90.8%), from €82,362 to €7,592
- Depreciation +€12,047
up €12,047 (+30.3%), from €39,744 to €51,790
- Financial income +€10,229
up €10,229, from €0 to €10,229
- Financial charges -€4,545
down €4,545 (-24.0%), from €18,914 to €14,368
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 | €1,183,027 | €1,200,345 | +€17,318 | +1.5% |
| Fixed assets | 21/28 | €536,271 | €496,871 | -€39,400 | -7.3% |
| Tangible fixed assets | 22/27 | €536,271 | €496,871 | -€39,400 | -7.3% |
| Land and buildings | 22 | €458,264 | €436,377 | -€21,887 | -4.8% |
| Plant, machinery and equipment | 23 | €2,562 | €1,281 | -€1,281 | -50.0% |
| Furniture and vehicles | 24 | €75,445 | €59,213 | -€16,232 | -21.5% |
| Current assets | 29/58 | €646,756 | €703,474 | +€56,718 | +8.8% |
| Amounts receivable within one year | 40/41 | €466,961 | €697,275 | +€230,314 | +49.3% |
| Trade receivables | 40 | €5,500 | €21,500 | +€16,000 | +291% |
| Other amounts receivable | 41 | €461,461 | €675,775 | +€214,314 | +46.4% |
| Cash at bank and in hand | 54/58 | €179,795 | €6,200 | -€173,596 | -96.6% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,183,027 | €1,200,345 | +€17,318 | +1.5% |
| Equity | 10/15 | €664,355 | €442,074 | -€222,281 | -33.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €645,755 | €423,474 | -€222,281 | -34.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €643,895 | €421,614 | -€222,281 | -34.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €518,672 | €758,271 | +€239,599 | +46.2% |
| Amounts payable after more than one year | 17 | €303,046 | €363,501 | +€60,455 | +19.9% |
| Financial debts | 170/4 | €303,046 | €363,501 | +€60,455 | +19.9% |
| Amounts payable within one year | 42/48 | €215,626 | €394,462 | +€178,836 | +82.9% |
| Current portion of amounts payable after more than one year | 42 | €36,664 | €65,059 | +€28,396 | +77.4% |
| Trade debts | 44 | €15,108 | €2,702 | -€12,406 | -82.1% |
| Suppliers | 440/4 | €15,108 | €2,702 | -€12,406 | -82.1% |
| Taxes, remuneration and social security | 45 | €157,907 | €63,773 | -€94,134 | -59.6% |
| Taxes | 450/3 | €157,907 | €61,725 | -€96,182 | -60.9% |
| Remuneration and social security | 454/9 | - | €2,048 | +€2,048 | |
| Other amounts payable | 47/48 | €5,948 | €262,929 | +€256,981 | +4,320% |
| Accrued charges and deferred income | 492/3 | €0 | €309 | +€309 | |
| Non-recurring operating income | 76A | €17,168 | €0 | -€17,168 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,744 | €51,790 | +€12,047 | +30.3% |
| Other operating charges | 640/8 | €2,646 | €4,623 | +€1,977 | +74.7% |
| Non-recurring operating charges | 66A | - | €681 | +€681 | |
| Gross operating margin | 9900 | €215,890 | €109,473 | -€106,416 | -49.3% |
| Operating profit (loss) | 9901 | €173,500 | €52,379 | -€121,121 | -69.8% |
| Financial income | 75/76B | €0 | €10,229 | +€10,229 | |
| Recurring financial income | 75 | €0 | €10,229 | +€10,229 | |
| Financial charges | 65/66B | €18,914 | €14,368 | -€4,545 | -24.0% |
| Recurring financial charges | 65 | €18,914 | €14,368 | -€4,545 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €154,586 | €48,240 | -€106,347 | -68.8% |
| Income taxes | 67/77 | €82,362 | €7,592 | -€74,771 | -90.8% |
| Profit (loss) for the period | 9904 | €72,224 | €40,648 | -€31,576 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €72,224 | €40,648 | -€31,576 | -43.7% |
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.