UTOR: 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.
UTOR
Largest movements
- Tangible fixed assets -€84,848
down €84,848 (-19.9%), from €427,318 to €342,470
of which Plant, machinery and equipment: -€48,156
- Stocks and contracts +€37,483
up €37,483 (+3.7%), from €999,616 to €1.0m
- Receivables within one year +€30,832
up €30,832 (+4.6%), from €673,223 to €704,055
of which Other amounts receivable: +€39,599
- Cash +€29,915
up €29,915 (+65.0%), from €45,993 to €75,908
mainly Trade debts (+€131,947) and Depreciation (+€92,137)
- Trade debts +€131,947
up €131,947 (+19.8%), from €665,898 to €797,844
- Current portion of long-term debt -€115,242
down €115,242 (-66.2%), from €174,167 to €58,925
- Other debts +€79,462
up €79,462 (+239%), from €33,210 to €112,672
- Debts after one year -€58,925
down €58,925 (-29.3%), from €201,370 to €142,445
- Staff costs -€27,940
down €27,940 (-3.9%), from €711,801 to €683,861
- Depreciation -€13,825
down €13,825 (-13.0%), from €105,962 to €92,137
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,168,171 | €2,190,649 | +€22,478 | +1.0% |
| Fixed assets | 21/28 | €428,323 | €343,475 | -€84,848 | -19.8% |
| Tangible fixed assets | 22/27 | €427,318 | €342,470 | -€84,848 | -19.9% |
| Plant, machinery and equipment | 23 | €270,198 | €222,042 | -€48,156 | -17.8% |
| Furniture and vehicles | 24 | €2,217 | €780 | -€1,438 | -64.8% |
| Other tangible fixed assets | 26 | €154,903 | €119,648 | -€35,254 | -22.8% |
| Financial fixed assets | 28 | €1,005 | €1,005 | = | 0.0% |
| Current assets | 29/58 | €1,739,848 | €1,847,174 | +€107,326 | +6.2% |
| Stocks and contracts in progress | 3 | €999,616 | €1,037,099 | +€37,483 | +3.7% |
| Stocks | 30/36 | €999,616 | €1,037,099 | +€37,483 | +3.7% |
| Amounts receivable within one year | 40/41 | €673,223 | €704,055 | +€30,832 | +4.6% |
| Trade receivables | 40 | €13,435 | €4,668 | -€8,767 | -65.3% |
| Other amounts receivable | 41 | €659,788 | €699,387 | +€39,599 | +6.0% |
| Cash at bank and in hand | 54/58 | €45,993 | €75,908 | +€29,915 | +65.0% |
| Deferred charges and accrued income | 490/1 | €21,016 | €30,113 | +€9,097 | +43.3% |
| Total equity and liabilities | 10/49 | €2,168,171 | €2,190,649 | +€22,478 | +1.0% |
| Equity | 10/15 | €349,129 | €350,459 | +€1,330 | +0.4% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Capital | 10 | €300,000 | €300,000 | = | 0.0% |
| Issued capital | 100 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €48,750 | €48,750 | = | 0.0% |
| Non-distributable reserves | 130/1 | €30,000 | €30,000 | = | 0.0% |
| Legal reserve | 130 | €30,000 | €30,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Profit (loss) carried forward | 14 | €379 | €1,709 | +€1,330 | +350% |
| Amounts payable | 17/49 | €1,819,042 | €1,840,190 | +€21,148 | +1.2% |
| Amounts payable after more than one year | 17 | €201,370 | €142,445 | -€58,925 | -29.3% |
| Financial debts | 170/4 | €201,370 | €142,445 | -€58,925 | -29.3% |
| Amounts payable within one year | 42/48 | €1,615,894 | €1,696,505 | +€80,612 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €174,167 | €58,925 | -€115,242 | -66.2% |
| Financial debts | 43 | €605,000 | €605,000 | = | 0.0% |
| Credit institutions | 430/8 | €605,000 | €605,000 | = | 0.0% |
| Trade debts | 44 | €665,898 | €797,844 | +€131,947 | +19.8% |
| Suppliers | 440/4 | €665,898 | €797,844 | +€131,947 | +19.8% |
| Taxes, remuneration and social security | 45 | €137,619 | €122,064 | -€15,555 | -11.3% |
| Taxes | 450/3 | €18,819 | €16,105 | -€2,714 | -14.4% |
| Remuneration and social security | 454/9 | €118,800 | €105,959 | -€12,841 | -10.8% |
| Other amounts payable | 47/48 | €33,210 | €112,672 | +€79,462 | +239% |
| Accrued charges and deferred income | 492/3 | €1,778 | €1,240 | -€538 | -30.3% |
| Remuneration, social security and pensions | 62 | €711,801 | €683,861 | -€27,940 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €105,962 | €92,137 | -€13,825 | -13.0% |
| Other operating charges | 640/8 | €7,294 | €4,942 | -€2,353 | -32.3% |
| Gross operating margin | 9900 | €895,725 | €900,058 | +€4,334 | +0.5% |
| Operating profit (loss) | 9901 | €70,668 | €119,118 | +€48,450 | +68.6% |
| Financial income | 75/76B | €22,833 | €23,318 | +€485 | +2.1% |
| Recurring financial income | 75 | €22,833 | €23,318 | +€485 | +2.1% |
| Financial charges | 65/66B | €49,580 | €42,099 | -€7,481 | -15.1% |
| Recurring financial charges | 65 | €49,580 | €42,099 | -€7,481 | -15.1% |
| Profit (loss) for the period before taxes | 9903 | €43,921 | €100,337 | +€56,416 | +128% |
| Income taxes | 67/77 | €11,200 | €12,008 | +€808 | +7.2% |
| Profit (loss) for the period | 9904 | €32,721 | €88,330 | +€55,609 | +170% |
| Profit (loss) for the period to be appropriated | 9905 | €32,721 | €88,330 | +€55,609 | +170% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.