USTEROM: what changed
USTEROM
Largest movements
- Tangible fixed assets +€46,177
up €46,177 (+136%), from €33,960 to €80,137
of which Furniture and vehicles: +€26,518
- Cash -€34,597
down €34,597 (-93.3%), from €37,076 to €2,479
mainly Investment in fixed assets (net) (-€62,000) and Receivables within one year (-€30,002)
- Receivables within one year +€30,002
up €30,002 (+1,378%), from €2,177 to €32,179
of which Trade receivables: +€28,222
- Deferred charges and accrued income -€1,354
down €1,354 (-64.8%), from €2,088 to €734
- Other debts +€30,935
up €30,935 (+81.0%), from €38,212 to €69,147
- Advances received +€24,500
new in 2025: €24,500
- Trade debts -€14,364
down €14,364 (-94.4%), from €15,220 to €856
- Reserves -€6,413
down €6,413 (-43.7%), from €14,664 to €8,251
- Tax, wage and social debts +€5,571
up €5,571 (+462%), from €1,206 to €6,777
- Gross operating margin +€41,161
up €41,161 (+134%), from €30,773 to €71,934
- Depreciation +€13,972
up €13,972 (+755%), from €1,850 to €15,823
- Taxes +€6,974
up €6,974, from -€197 to €6,777
- Staff costs +€6,192
up €6,192 (+25.8%), from €24,036 to €30,227
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,301 | €115,530 | +€40,229 | +53.4% |
| Fixed assets | 21/28 | €33,960 | €80,137 | +€46,177 | +136% |
| Tangible fixed assets | 22/27 | €33,960 | €80,137 | +€46,177 | +136% |
| Plant, machinery and equipment | 23 | €3,004 | €22,664 | +€19,659 | +654% |
| Furniture and vehicles | 24 | €30,956 | €57,473 | +€26,518 | +85.7% |
| Current assets | 29/58 | €41,341 | €35,393 | -€5,949 | -14.4% |
| Amounts receivable within one year | 40/41 | €2,177 | €32,179 | +€30,002 | +1,378% |
| Trade receivables | 40 | €2,029 | €30,251 | +€28,222 | +1,391% |
| Other amounts receivable | 41 | €149 | €1,928 | +€1,780 | +1,198% |
| Cash at bank and in hand | 54/58 | €37,076 | €2,479 | -€34,597 | -93.3% |
| Deferred charges and accrued income | 490/1 | €2,088 | €734 | -€1,354 | -64.8% |
| Total equity and liabilities | 10/49 | €75,301 | €115,530 | +€40,229 | +53.4% |
| Equity | 10/15 | €20,664 | €14,251 | -€6,413 | -31.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €14,664 | €8,251 | -€6,413 | -43.7% |
| Distributable reserves | 133 | €14,664 | €8,251 | -€6,413 | -43.7% |
| Amounts payable | 17/49 | €54,638 | €101,279 | +€46,641 | +85.4% |
| Amounts payable within one year | 42/48 | €54,638 | €101,279 | +€46,641 | +85.4% |
| Trade debts | 44 | €15,220 | €856 | -€14,364 | -94.4% |
| Suppliers | 440/4 | €15,220 | €856 | -€14,364 | -94.4% |
| Advances received on contracts in progress | 46 | - | €24,500 | +€24,500 | |
| Taxes, remuneration and social security | 45 | €1,206 | €6,777 | +€5,571 | +462% |
| Taxes | 450/3 | €1,206 | €6,777 | +€5,571 | +462% |
| Other amounts payable | 47/48 | €38,212 | €69,147 | +€30,935 | +81.0% |
| Remuneration, social security and pensions | 62 | €24,036 | €30,227 | +€6,192 | +25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,850 | €15,823 | +€13,972 | +755% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €3,339 | - | -€3,339 | |
| Gross operating margin | 9900 | €30,773 | €71,934 | +€41,161 | +134% |
| Operating profit (loss) | 9901 | €1,161 | €25,484 | +€24,324 | +2,096% |
| Financial income | 75/76B | €70 | - | -€70 | |
| Recurring financial income | 75 | €70 | - | -€70 | |
| Financial charges | 65/66B | €90 | €120 | +€30 | +33.1% |
| Recurring financial charges | 65 | €90 | €120 | +€30 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €1,140 | €25,364 | +€24,224 | +2,124% |
| Income taxes | 67/77 | -€197 | €6,777 | +€6,974 | |
| Profit (loss) for the period | 9904 | €1,337 | €18,587 | +€17,250 | +1,290% |
| Profit (loss) for the period to be appropriated | 9905 | €1,337 | €18,587 | +€17,250 | +1,290% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.