UTD: 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.
UTD
Largest movements
- Cash +€190,268
up €190,268 (+231%), from €82,376 to €272,644
mainly Net result for the year (+€149,232) and Trade debts (+€64,839)
- Receivables within one year +€10,500
up €10,500 (+9.5%), from €110,773 to €121,273
of which Trade receivables: +€10,273
- Profit (loss) carried forward +€149,232
up €149,232 (+103%), from €145,553 to €294,785
- Trade debts +€64,839
up €64,839 (+326%), from €19,917 to €84,755
- Tax, wage and social debts -€11,963
down €11,963 (-44.8%), from €26,707 to €14,744
- Financial charges +€34,030
up €34,030 (+333%), from €10,234 to €44,264
- Gross operating margin +€21,186
up €21,186 (+10.9%), from €194,514 to €215,700
- Financial income +€19,070
up €19,070 (+477%), from €3,996 to €23,066
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 | €194,938 | €396,906 | +€201,968 | +104% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,789 | €2,989 | +€1,201 | +67.1% |
| Tangible fixed assets | 22/27 | €1,789 | €2,989 | +€1,201 | +67.1% |
| Plant, machinery and equipment | 23 | - | €1,582 | +€1,582 | |
| Furniture and vehicles | 24 | €1,789 | €1,407 | -€381 | -21.3% |
| Current assets | 29/58 | €193,149 | €393,916 | +€200,768 | +104% |
| Amounts receivable within one year | 40/41 | €110,773 | €121,273 | +€10,500 | +9.5% |
| Trade receivables | 40 | €110,552 | €120,825 | +€10,273 | +9.3% |
| Other amounts receivable | 41 | €221 | €448 | +€226 | +102% |
| Cash at bank and in hand | 54/58 | €82,376 | €272,644 | +€190,268 | +231% |
| Total equity and liabilities | 10/49 | €194,938 | €396,906 | +€201,968 | +104% |
| Equity | 10/15 | €146,553 | €295,785 | +€149,232 | +102% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €145,553 | €294,785 | +€149,232 | +103% |
| Amounts payable | 17/49 | €48,384 | €101,121 | +€52,737 | +109% |
| Amounts payable within one year | 42/48 | €48,384 | €101,121 | +€52,737 | +109% |
| Trade debts | 44 | €19,917 | €84,755 | +€64,839 | +326% |
| Suppliers | 440/4 | €19,917 | €84,755 | +€64,839 | +326% |
| Taxes, remuneration and social security | 45 | €26,707 | €14,744 | -€11,963 | -44.8% |
| Taxes | 450/3 | €26,707 | €14,744 | -€11,963 | -44.8% |
| Other amounts payable | 47/48 | €1,761 | €1,622 | -€139 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,328 | €526 | -€802 | -60.4% |
| Other operating charges | 640/8 | €118 | - | -€118 | |
| Gross operating margin | 9900 | €194,514 | €215,700 | +€21,186 | +10.9% |
| Operating profit (loss) | 9901 | €193,068 | €215,174 | +€22,106 | +11.5% |
| Financial income | 75/76B | €3,996 | €23,066 | +€19,070 | +477% |
| Recurring financial income | 75 | €3,996 | €23,066 | +€19,070 | +477% |
| Financial charges | 65/66B | €10,234 | €44,264 | +€34,030 | +333% |
| Recurring financial charges | 65 | €10,234 | €44,264 | +€34,030 | +333% |
| Profit (loss) for the period before taxes | 9903 | €186,829 | €193,976 | +€7,147 | +3.8% |
| Income taxes | 67/77 | €46,707 | €44,744 | -€1,963 | -4.2% |
| Profit (loss) for the period | 9904 | €140,122 | €149,232 | +€9,110 | +6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €140,122 | €149,232 | +€9,110 | +6.5% |
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 26 October 2026 via checked.be.