USTAWI: 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.
USTAWI
Largest movements
- Cash -€58,111
down €58,111 (-96.1%), from €60,484 to €2,373
mainly Debts after one year (-€43,021) and Deferred charges and accrued income (-€42,778)
- Deferred charges and accrued income +€42,778
up €42,778 (+2404.3%), from €1,779 to €44,557
- Tangible fixed assets -€21,386
down €21,386 (-6.8%), from €314,656 to €293,271
of which Furniture and vehicles: -€13,780
- Receivables within one year +€17,921
up €17,921 (+19.7%), from €91,136 to €109,058
- Debts after one year -€43,021
down €43,021 (-29.0%), from €148,124 to €105,103
- Trade debts +€22,774
up €22,774 (+1407.3%), from €1,618 to €24,392
- Tax, wage and social debts +€9,924
up €9,924 (+177.0%), from €5,608 to €15,532
of which Remuneration and social security: +€10,193
- Reserves -€6,734
down €6,734 (-2.7%), from €244,906 to €238,172
- Depreciation +€12,280
up €12,280 (+129.1%), from €9,514 to €21,795
- Gross operating margin -€6,143
down €6,143 (-23.1%), from €26,547 to €20,404
- Taxes -€3,114
down €3,114 (-93.8%), from €3,320 to €206
- Financial charges +€918
up €918 (+24.4%), from €3,759 to €4,677
- Financial income -€876
down €876 (-64.3%), from €1,361 to €485
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 | €468,055 | €449,258 | -€18,797 | -4.0% |
| Fixed assets | 21/28 | €314,656 | €293,271 | -€21,386 | -6.8% |
| Tangible fixed assets | 22/27 | €314,656 | €293,271 | -€21,386 | -6.8% |
| Land and buildings | 22 | €228,500 | €228,500 | = | 0.0% |
| Plant, machinery and equipment | 23 | €18,722 | €11,117 | -€7,606 | -40.6% |
| Furniture and vehicles | 24 | €67,434 | €53,654 | -€13,780 | -20.4% |
| Current assets | 29/58 | €153,399 | €155,987 | +€2,588 | +1.7% |
| Amounts receivable within one year | 40/41 | €91,136 | €109,058 | +€17,921 | +19.7% |
| Other amounts receivable | 41 | €91,136 | €109,058 | +€17,921 | +19.7% |
| Cash at bank and in hand | 54/58 | €60,484 | €2,373 | -€58,111 | -96.1% |
| Deferred charges and accrued income | 490/1 | €1,779 | €44,557 | +€42,778 | +2404.3% |
| Total equity and liabilities | 10/49 | €468,055 | €449,258 | -€18,797 | -4.0% |
| Equity | 10/15 | €263,506 | €256,772 | -€6,734 | -2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €244,906 | €238,172 | -€6,734 | -2.7% |
| Distributable reserves | 133 | €244,906 | €238,172 | -€6,734 | -2.7% |
| Amounts payable | 17/49 | €204,549 | €192,486 | -€12,064 | -5.9% |
| Amounts payable after more than one year | 17 | €148,124 | €105,103 | -€43,021 | -29.0% |
| Financial debts | 170/4 | €148,124 | €105,103 | -€43,021 | -29.0% |
| Amounts payable within one year | 42/48 | €56,426 | €87,383 | +€30,957 | +54.9% |
| Current portion of amounts payable after more than one year | 42 | €47,803 | €44,688 | -€3,115 | -6.5% |
| Trade debts | 44 | €1,618 | €24,392 | +€22,774 | +1407.3% |
| Suppliers | 440/4 | €1,618 | €24,392 | +€22,774 | +1407.3% |
| Taxes, remuneration and social security | 45 | €5,608 | €15,532 | +€9,924 | +177.0% |
| Taxes | 450/3 | €5,608 | €5,339 | -€269 | -4.8% |
| Remuneration and social security | 454/9 | €0 | €10,193 | +€10,193 | |
| Other amounts payable | 47/48 | €1,396 | €2,771 | +€1,374 | +98.4% |
| Non-recurring operating income | 76A | €16,800 | €0 | -€16,800 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,514 | €21,795 | +€12,280 | +129.1% |
| Other operating charges | 640/8 | €557 | €945 | +€388 | +69.7% |
| Gross operating margin | 9900 | €26,547 | €20,404 | -€6,143 | -23.1% |
| Operating profit (loss) | 9901 | €16,475 | -€2,336 | -€18,812 | |
| Financial income | 75/76B | €1,361 | €485 | -€876 | -64.3% |
| Recurring financial income | 75 | €1,361 | €485 | -€876 | -64.3% |
| Financial charges | 65/66B | €3,759 | €4,677 | +€918 | +24.4% |
| Recurring financial charges | 65 | €3,759 | €4,677 | +€918 | +24.4% |
| Profit (loss) for the period before taxes | 9903 | €14,077 | -€6,528 | -€20,605 | |
| Income taxes | 67/77 | €3,320 | €206 | -€3,114 | -93.8% |
| Profit (loss) for the period | 9904 | €10,757 | -€6,734 | -€17,490 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,757 | -€6,734 | -€17,490 |
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 11 October 2026 via checked.be.