UTSUM: what changed
Two fiscal 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.
UTSUM
Largest movements
- Tangible fixed assets +€236,891
up €236,891 (+12.2%), from €1.9m to €2.2m
of which Plant, machinery and equipment: +€371,424
- Cash -€29,105
down €29,105 (-93.9%), from €31,010 to €1,905
mainly Investment in fixed assets (net) (-€322,677) and Net result for the year (-€126,064)
- Debts after one year +€389,134
up €389,134 (+35.8%), from €1.1m to €1.5m
- Profit (loss) carried forward -€126,064
down €126,064 (-58.8%), from -€214,455 to -€340,519
- Trade debts -€62,970
down €62,970 (-72.9%), from €86,360 to €23,391
- Current portion of long-term debt +€23,114
new in 2025: €23,114
- Gross operating margin +€62,209
up €62,209, from -€54,888 to €7,320
- Depreciation +€34,079
up €34,079 (+65.9%), from €51,707 to €85,786
- Financial charges +€10,782
up €10,782 (+33.1%), from €32,544 to €43,326
- Financial income -€4,080
no longer reported in 2025 (was €4,080)
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 | €1,973,944 | €2,181,322 | +€207,378 | +10.5% |
| Fixed assets | 21/28 | €1,942,396 | €2,179,287 | +€236,891 | +12.2% |
| Tangible fixed assets | 22/27 | €1,942,396 | €2,179,287 | +€236,891 | +12.2% |
| Land and buildings | 22 | €1,662,199 | €1,625,759 | -€36,441 | -2.2% |
| Plant, machinery and equipment | 23 | €182,105 | €553,529 | +€371,424 | +204.0% |
| Assets under construction and advance payments | 27 | €98,092 | €0 | -€98,092 | -100.0% |
| Current assets | 29/58 | €31,548 | €2,035 | -€29,513 | -93.6% |
| Cash at bank and in hand | 54/58 | €31,010 | €1,905 | -€29,105 | -93.9% |
| Deferred charges and accrued income | 490/1 | €538 | €130 | -€408 | -75.9% |
| Total equity and liabilities | 10/49 | €1,973,944 | €2,181,322 | +€207,378 | +10.5% |
| Equity | 10/15 | €785,545 | €659,481 | -€126,064 | -16.0% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€214,455 | -€340,519 | -€126,064 | -58.8% |
| Amounts payable | 17/49 | €1,188,399 | €1,521,841 | +€333,442 | +28.1% |
| Amounts payable after more than one year | 17 | €1,085,855 | €1,474,989 | +€389,134 | +35.8% |
| Other amounts payable | 178/9 | €1,085,855 | €1,474,989 | +€389,134 | +35.8% |
| Amounts payable within one year | 42/48 | €93,419 | €46,852 | -€46,567 | -49.8% |
| Current portion of amounts payable after more than one year | 42 | - | €23,114 | +€23,114 | |
| Trade debts | 44 | €86,360 | €23,391 | -€62,970 | -72.9% |
| Suppliers | 440/4 | €86,360 | €23,391 | -€62,970 | -72.9% |
| Taxes, remuneration and social security | 45 | €7,059 | €347 | -€6,712 | -95.1% |
| Taxes | 450/3 | €7,059 | €347 | -€6,712 | -95.1% |
| Accrued charges and deferred income | 492/3 | €9,125 | - | -€9,125 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,707 | €85,786 | +€34,079 | +65.9% |
| Other operating charges | 640/8 | €4,363 | €4,272 | -€91 | -2.1% |
| Gross operating margin | 9900 | -€54,888 | €7,320 | +€62,209 | |
| Operating profit (loss) | 9901 | -€110,958 | -€82,738 | +€28,220 | +25.4% |
| Financial income | 75/76B | €4,080 | - | -€4,080 | |
| Recurring financial income | 75 | €4,080 | - | -€4,080 | |
| Financial charges | 65/66B | €32,544 | €43,326 | +€10,782 | +33.1% |
| Recurring financial charges | 65 | €32,544 | €43,326 | +€10,782 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | -€139,423 | -€126,064 | +€13,358 | +9.6% |
| Profit (loss) for the period | 9904 | -€139,423 | -€126,064 | +€13,358 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€139,423 | -€126,064 | +€13,358 | +9.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.