USHIINE: 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.
USHIINE
Largest movements
- Receivables within one year +€14,486
up €14,486 (+34.9%), from €41,510 to €55,995
of which Other amounts receivable: +€18,984
- Intangible fixed assets +€10,615
new in 2025: €10,615
- Tangible fixed assets +€5,947
up €5,947 (+144%), from €4,118 to €10,065
of which Plant, machinery and equipment: +€3,113
- Cash -€2,589
down €2,589 (-22.6%), from €11,433 to €8,844
mainly Investment in fixed assets (net) (-€18,422) and Receivables within one year (-€14,486)
- Reserves +€26,000
up €26,000 (+81.3%), from €32,000 to €58,000
- Tax, wage and social debts +€7,679
up €7,679 (+69.9%), from €10,984 to €18,663
- Trade debts -€5,061
down €5,061 (-40.7%), from €12,425 to €7,364
- Gross operating margin -€12,467
down €12,467 (-23.6%), from €52,914 to €40,447
- Other operating charges -€3,409
down €3,409 (-61.9%), from €5,507 to €2,098
- Staff costs -€2,346
no longer reported in 2025 (was €2,346)
- Taxes -€1,504
down €1,504 (-13.7%), from €10,984 to €9,479
- Financial charges +€1,024
up €1,024 (+234%), from €437 to €1,461
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 | €57,224 | €85,519 | +€28,295 | +49.4% |
| Fixed assets | 21/28 | €4,118 | €20,680 | +€16,562 | +402% |
| Intangible fixed assets | 21 | - | €10,615 | +€10,615 | |
| Tangible fixed assets | 22/27 | €4,118 | €10,065 | +€5,947 | +144% |
| Plant, machinery and equipment | 23 | €3,291 | €6,403 | +€3,113 | +94.6% |
| Furniture and vehicles | 24 | €330 | €3,378 | +€3,048 | +924% |
| Other tangible fixed assets | 26 | €497 | €283 | -€213 | -43.0% |
| Current assets | 29/58 | €53,107 | €64,839 | +€11,732 | +22.1% |
| Amounts receivable within one year | 40/41 | €41,510 | €55,995 | +€14,486 | +34.9% |
| Trade receivables | 40 | €5,026 | €528 | -€4,498 | -89.5% |
| Other amounts receivable | 41 | €36,483 | €55,467 | +€18,984 | +52.0% |
| Cash at bank and in hand | 54/58 | €11,433 | €8,844 | -€2,589 | -22.6% |
| Deferred charges and accrued income | 490/1 | €164 | - | -€164 | |
| Total equity and liabilities | 10/49 | €57,224 | €85,519 | +€28,295 | +49.4% |
| Equity | 10/15 | €33,816 | €59,492 | +€25,676 | +75.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €32,000 | €58,000 | +€26,000 | +81.3% |
| Distributable reserves | 133 | €32,000 | €58,000 | +€26,000 | +81.3% |
| Profit (loss) carried forward | 14 | €816 | €492 | -€324 | -39.7% |
| Amounts payable | 17/49 | €23,409 | €26,027 | +€2,618 | +11.2% |
| Amounts payable within one year | 42/48 | €23,409 | €26,027 | +€2,618 | +11.2% |
| Trade debts | 44 | €12,425 | €7,364 | -€5,061 | -40.7% |
| Suppliers | 440/4 | €12,425 | €7,364 | -€5,061 | -40.7% |
| Taxes, remuneration and social security | 45 | €10,984 | €18,663 | +€7,679 | +69.9% |
| Taxes | 450/3 | €10,984 | €18,663 | +€7,679 | +69.9% |
| Remuneration, social security and pensions | 62 | €2,346 | - | -€2,346 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €853 | €1,859 | +€1,006 | +118% |
| Other operating charges | 640/8 | €5,507 | €2,098 | -€3,409 | -61.9% |
| Gross operating margin | 9900 | €52,914 | €40,447 | -€12,467 | -23.6% |
| Operating profit (loss) | 9901 | €44,208 | €36,489 | -€7,719 | -17.5% |
| Financial income | 75/76B | €28 | €128 | +€99 | +352% |
| Recurring financial income | 75 | €28 | €128 | +€99 | +352% |
| Financial charges | 65/66B | €437 | €1,461 | +€1,024 | +234% |
| Recurring financial charges | 65 | €437 | €1,461 | +€1,024 | +234% |
| Profit (loss) for the period before taxes | 9903 | €43,799 | €35,156 | -€8,644 | -19.7% |
| Income taxes | 67/77 | €10,984 | €9,479 | -€1,504 | -13.7% |
| Profit (loss) for the period | 9904 | €32,816 | €25,676 | -€7,139 | -21.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,816 | €25,676 | -€7,139 | -21.8% |
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 19 October 2026 via checked.be.