URTEX: 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.
URTEX
Largest movements
- Tangible fixed assets +€8.8m
up €8.8m (+554.9%), from €1.6m to €10.4m
- Financial fixed assets -€850,000
down €850,000 (-45.8%), from €1.9m to €1.0m
of which Affiliated companies: -€850,000
- Cash -€619,385
down €619,385 (-60.2%), from €1.0m to €409,814
mainly Investment in fixed assets (net) (-€9.0m) and Other debts (-€1.3m)
- Receivables within one year +€222,150
new in 2025: €222,150
of which Other amounts receivable: +€175,000
- Debts after one year +€8.5m
up €8.5m (+1410.9%), from €600,000 to €9.1m
of which Financial debts: +€9.1m
- Other debts -€1.3m
down €1.3m (-62.5%), from €2.0m to €750,000
- Current portion of long-term debt +€541,201
new in 2025: €541,201
- Reserves -€200,000
down €200,000 (-16.5%), from €1.2m to €1.0m
of which Distributable reserves: -€200,000
- Depreciation +€1.0m
up €1.0m (+1640.6%), from €62,616 to €1.1m
- Other operating income +€510,139
up €510,139 (+57.4%), from €888,287 to €1.4m
- Financial charges +€234,213
up €234,213 (+451.7%), from €51,850 to €286,063
- Taxes -€182,170
down €182,170 (-100.0%), from €182,170 to €0
- Services and other goods +€122,386
up €122,386 (+479.5%), from €25,523 to €147,909
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 | €4,469,713 | €12,093,109 | +€7.6m | +170.6% |
| Fixed assets | 21/28 | €3,438,719 | €11,379,265 | +€7.9m | +230.9% |
| Tangible fixed assets | 22/27 | €1,584,083 | €10,374,629 | +€8.8m | +554.9% |
| Land and buildings | 22 | €1,584,083 | €10,374,629 | +€8.8m | +554.9% |
| Financial fixed assets | 28 | €1,854,636 | €1,004,636 | -€850,000 | -45.8% |
| Affiliated companies | 280/1 | €1,850,000 | €1,000,000 | -€850,000 | -45.9% |
| Amounts receivable | 281 | €1,850,000 | €1,000,000 | -€850,000 | -45.9% |
| Other financial fixed assets | 284/8 | €4,636 | €4,636 | = | 0.0% |
| Shares | 284 | €4,636 | €4,636 | = | 0.0% |
| Current assets | 29/58 | €1,030,995 | €713,843 | -€317,151 | -30.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | - | €222,150 | +€222,150 | |
| Trade receivables | 40 | - | €47,150 | +€47,150 | |
| Other amounts receivable | 41 | - | €175,000 | +€175,000 | |
| Cash at bank and in hand | 54/58 | €1,029,199 | €409,814 | -€619,385 | -60.2% |
| Deferred charges and accrued income | 490/1 | €1,796 | €81,879 | +€80,084 | +4460.1% |
| Total equity and liabilities | 10/49 | €4,469,713 | €12,093,109 | +€7.6m | +170.6% |
| Equity | 10/15 | €1,775,770 | €1,580,159 | -€195,611 | -11.0% |
| Contributions | 10/11 | €100,090 | €100,090 | = | 0.0% |
| Capital | 10 | €100,090 | €100,090 | = | 0.0% |
| Issued capital | 100 | €100,090 | €100,090 | = | 0.0% |
| Revaluation surpluses | 12 | €457,856 | €457,856 | = | 0.0% |
| Reserves | 13 | €1,215,009 | €1,015,009 | -€200,000 | -16.5% |
| Non-distributable reserves | 130/1 | €10,009 | €10,009 | = | 0.0% |
| Legal reserve | 130 | €10,009 | €10,009 | = | 0.0% |
| Distributable reserves | 133 | €1,205,000 | €1,005,000 | -€200,000 | -16.6% |
| Profit (loss) carried forward | 14 | €2,815 | €7,204 | +€4,389 | +155.9% |
| Amounts payable | 17/49 | €2,693,943 | €10,512,950 | +€7.8m | +290.2% |
| Amounts payable after more than one year | 17 | €600,000 | €9,065,170 | +€8.5m | +1410.9% |
| Financial debts | 170/4 | - | €9,065,170 | +€9.1m | |
| Credit institutions | 173 | - | €9,065,170 | +€9.1m | |
| Other amounts payable | 178/9 | €600,000 | €0 | -€600,000 | -100.0% |
| Amounts payable within one year | 42/48 | €2,024,343 | €1,445,320 | -€579,023 | -28.6% |
| Current portion of amounts payable after more than one year | 42 | - | €541,201 | +€541,201 | |
| Trade debts | 44 | €17,174 | €133,624 | +€116,451 | +678.1% |
| Suppliers | 440/4 | €17,174 | €133,624 | +€116,451 | +678.1% |
| Taxes, remuneration and social security | 45 | €7,170 | €20,495 | +€13,325 | +185.9% |
| Taxes | 450/3 | €7,170 | €20,495 | +€13,325 | +185.9% |
| Other amounts payable | 47/48 | €2,000,000 | €750,000 | -€1.3m | -62.5% |
| Accrued charges and deferred income | 492/3 | €69,600 | €2,460 | -€67,140 | -96.5% |
| Operating income | 70/76A | €888,287 | €1,398,426 | +€510,139 | +57.4% |
| Other operating income | 74 | €888,287 | €1,398,426 | +€510,139 | +57.4% |
| Operating charges | 60/66A | €125,128 | €1,307,974 | +€1.2m | +945.3% |
| Services and other goods | 61 | €25,523 | €147,909 | +€122,386 | +479.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,616 | €1,089,881 | +€1.0m | +1640.6% |
| Other operating charges | 640/8 | €36,989 | €70,184 | +€33,194 | +89.7% |
| Operating profit (loss) | 9901 | €763,159 | €90,452 | -€672,707 | -88.1% |
| Financial income | 75/76B | €17,370 | €0 | -€17,370 | -100.0% |
| Recurring financial income | 75 | €17,370 | €0 | -€17,370 | -100.0% |
| Income from current assets | 751 | €17,370 | €0 | -€17,370 | -100.0% |
| Financial charges | 65/66B | €51,850 | €286,063 | +€234,213 | +451.7% |
| Recurring financial charges | 65 | €51,850 | €286,063 | +€234,213 | +451.7% |
| Debt charges | 650 | €51,600 | €284,382 | +€232,782 | +451.1% |
| Other financial charges | 652/9 | €250 | €1,681 | +€1,432 | +573.2% |
| Profit (loss) for the period before taxes | 9903 | €728,679 | -€195,611 | -€924,290 | |
| Income taxes | 67/77 | €182,170 | €0 | -€182,170 | -100.0% |
| Taxes | 670/3 | €182,170 | €0 | -€182,170 | -100.0% |
| Profit (loss) for the period | 9904 | €546,509 | -€195,611 | -€742,120 | |
| Profit (loss) for the period to be appropriated | 9905 | €546,509 | -€195,611 | -€742,120 |
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 2 October 2026 via checked.be.