USABEL: 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.
USABEL
Largest movements
- Cash -€23,458
down €23,458 (-24.4%), from €96,277 to €72,819
mainly Contributions, distributions and other (-€35,677) and Receivables within one year (-€5,381)
- Receivables within one year +€5,381
up €5,381 (+190.4%), from €2,827 to €8,208
of which Trade receivables: +€2,991
- Reserves -€18,117
down €18,117 (-21.4%), from €84,750 to €66,633
of which Distributable reserves: -€18,117
- Trade debts +€2,677
up €2,677 (+54.0%), from €4,959 to €7,636
- Tax, wage and social debts -€2,266
down €2,266 (-44.6%), from €5,083 to €2,817
- Gross operating margin +€4,723
up €4,723 (+20.4%), from €23,095 to €27,818
- Taxes +€1,393
up €1,393 (+19.6%), from €7,125 to €8,519
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 | €100,992 | €83,286 | -€17,706 | -17.5% |
| Fixed assets | 21/28 | €485 | €645 | +€159 | +32.8% |
| Tangible fixed assets | 22/27 | €485 | €645 | +€159 | +32.8% |
| Plant, machinery and equipment | 23 | €485 | €645 | +€159 | +32.8% |
| Current assets | 29/58 | €100,506 | €82,641 | -€17,865 | -17.8% |
| Amounts receivable within one year | 40/41 | €2,827 | €8,208 | +€5,381 | +190.4% |
| Trade receivables | 40 | €1,126 | €4,117 | +€2,991 | +265.5% |
| Other amounts receivable | 41 | €1,701 | €4,091 | +€2,391 | +140.6% |
| Cash at bank and in hand | 54/58 | €96,277 | €72,819 | -€23,458 | -24.4% |
| Deferred charges and accrued income | 490/1 | €1,403 | €1,614 | +€211 | +15.1% |
| Total equity and liabilities | 10/49 | €100,992 | €83,286 | -€17,706 | -17.5% |
| Equity | 10/15 | €90,950 | €72,833 | -€18,117 | -19.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €84,750 | €66,633 | -€18,117 | -21.4% |
| 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 | €82,890 | €64,773 | -€18,117 | -21.9% |
| Amounts payable | 17/49 | €10,042 | €10,453 | +€411 | +4.1% |
| Amounts payable within one year | 42/48 | €10,042 | €10,453 | +€411 | +4.1% |
| Trade debts | 44 | €4,959 | €7,636 | +€2,677 | +54.0% |
| Suppliers | 440/4 | €4,959 | €7,636 | +€2,677 | +54.0% |
| Taxes, remuneration and social security | 45 | €5,083 | €2,817 | -€2,266 | -44.6% |
| Taxes | 450/3 | €5,083 | €2,817 | -€2,266 | -44.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €577 | €669 | +€92 | +15.9% |
| Other operating charges | 640/8 | €722 | €749 | +€27 | +3.8% |
| Gross operating margin | 9900 | €23,095 | €27,818 | +€4,723 | +20.4% |
| Operating profit (loss) | 9901 | €21,797 | €26,400 | +€4,604 | +21.1% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €322 | €321 | -€1 | -0.3% |
| Recurring financial charges | 65 | €322 | €321 | -€1 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €21,474 | €26,079 | +€4,605 | +21.4% |
| Income taxes | 67/77 | €7,125 | €8,519 | +€1,393 | +19.6% |
| Profit (loss) for the period | 9904 | €14,349 | €17,560 | +€3,211 | +22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,349 | €17,560 | +€3,211 | +22.4% |
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 2 October 2026 via checked.be.