USTOPE: 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.
USTOPE
Largest movements
- Cash -€72,238
down €72,238 (-90.1%), from €80,218 to €7,979
mainly Contributions, distributions and other (-€187,627) and Receivables within one year (-€65,226)
- Receivables within one year +€65,226
up €65,226 (+615.8%), from €10,591 to €75,817
of which Trade receivables: +€62,546
- Receivables after one year -€40,000
down €40,000 (-100.0%), from €40,000 to €0
- Tangible fixed assets +€7,915
up €7,915 (+13.6%), from €58,154 to €66,070
of which Furniture and vehicles: +€8,497
- Profit (loss) carried forward -€107,080
down €107,080 (-100.0%), from €107,080 to €0
- Other debts +€77,648
up €77,648 (+2677.7%), from €2,900 to €80,548
- Tax, wage and social debts -€12,784
down €12,784 (-45.1%), from €28,326 to €15,542
of which Taxes: -€6,534
- Current portion of long-term debt +€8,379
up €8,379 (+78.6%), from €10,661 to €19,039
- Trade debts -€3,953
down €3,953 (-42.2%), from €9,361 to €5,408
- Gross operating margin +€41,556
up €41,556 (+50.8%), from €81,756 to €123,312
- Taxes +€8,790
up €8,790 (+62.6%), from €14,045 to €22,835
- Depreciation +€4,780
up €4,780 (+32.1%), from €14,900 to €19,679
- Financial income +€2,519
up €2,519 (+145.9%), from €1,726 to €4,245
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 | €196,630 | €156,381 | -€40,249 | -20.5% |
| Fixed assets | 21/28 | €58,154 | €66,070 | +€7,915 | +13.6% |
| Tangible fixed assets | 22/27 | €58,154 | €66,070 | +€7,915 | +13.6% |
| Plant, machinery and equipment | 23 | €1,024 | €442 | -€582 | -56.8% |
| Furniture and vehicles | 24 | €57,130 | €65,627 | +€8,497 | +14.9% |
| Current assets | 29/58 | €138,475 | €90,311 | -€48,164 | -34.8% |
| Amounts receivable after more than one year | 29 | €40,000 | €0 | -€40,000 | -100.0% |
| Other amounts receivable | 291 | €40,000 | €0 | -€40,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €10,591 | €75,817 | +€65,226 | +615.8% |
| Trade receivables | 40 | €10,308 | €72,855 | +€62,546 | +606.8% |
| Other amounts receivable | 41 | €283 | €2,962 | +€2,679 | +946.3% |
| Cash at bank and in hand | 54/58 | €80,218 | €7,979 | -€72,238 | -90.1% |
| Deferred charges and accrued income | 490/1 | €7,667 | €6,515 | -€1,152 | -15.0% |
| Total equity and liabilities | 10/49 | €196,630 | €156,381 | -€40,249 | -20.5% |
| Equity | 10/15 | €110,080 | €3,000 | -€107,080 | -97.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €107,080 | €0 | -€107,080 | -100.0% |
| Amounts payable | 17/49 | €86,550 | €153,381 | +€66,831 | +77.2% |
| Amounts payable after more than one year | 17 | €33,740 | €32,843 | -€897 | -2.7% |
| Financial debts | 170/4 | €33,740 | €32,843 | -€897 | -2.7% |
| Amounts payable within one year | 42/48 | €51,247 | €120,538 | +€69,290 | +135.2% |
| Current portion of amounts payable after more than one year | 42 | €10,661 | €19,039 | +€8,379 | +78.6% |
| Trade debts | 44 | €9,361 | €5,408 | -€3,953 | -42.2% |
| Suppliers | 440/4 | €9,361 | €5,408 | -€3,953 | -42.2% |
| Taxes, remuneration and social security | 45 | €28,326 | €15,542 | -€12,784 | -45.1% |
| Taxes | 450/3 | €22,076 | €15,542 | -€6,534 | -29.6% |
| Remuneration and social security | 454/9 | €6,250 | €0 | -€6,250 | -100.0% |
| Other amounts payable | 47/48 | €2,900 | €80,548 | +€77,648 | +2677.7% |
| Accrued charges and deferred income | 492/3 | €1,563 | €0 | -€1,563 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,900 | €19,679 | +€4,780 | +32.1% |
| Other operating charges | 640/8 | €848 | €1,101 | +€254 | +29.9% |
| Non-recurring operating charges | 66A | - | €1,071 | +€1,071 | |
| Gross operating margin | 9900 | €81,756 | €123,312 | +€41,556 | +50.8% |
| Operating profit (loss) | 9901 | €66,008 | €101,460 | +€35,452 | +53.7% |
| Financial income | 75/76B | €1,726 | €4,245 | +€2,519 | +145.9% |
| Recurring financial income | 75 | €1,726 | €4,245 | +€2,519 | +145.9% |
| Financial charges | 65/66B | €2,490 | €2,322 | -€168 | -6.8% |
| Recurring financial charges | 65 | €2,490 | €2,322 | -€168 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | €65,244 | €103,383 | +€38,139 | +58.5% |
| Income taxes | 67/77 | €14,045 | €22,835 | +€8,790 | +62.6% |
| Profit (loss) for the period | 9904 | €51,199 | €80,548 | +€29,349 | +57.3% |
| Profit (loss) for the period to be appropriated | 9905 | €51,199 | €80,548 | +€29,349 | +57.3% |
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 9 October 2026 via checked.be.