ULPIA: what changed
ULPIA
Largest movements
- Cash +€19,869
up €19,869 (+3,732%), from €532 to €20,402
mainly Other debts (+€40,480) and Receivables within one year (+€11,045)
- Receivables within one year -€11,045
down €11,045 (-51.9%), from €21,269 to €10,224
- Other debts +€40,480
up €40,480 (+269,867%), from €15 to €40,495
- Profit (loss) carried forward -€39,155
down €39,155 (-327%), from -€11,964 to -€51,119
- Short-term financial debts +€7,500
new in 2025: €7,500
- Gross operating margin -€27,134
down €27,134 (-236%), from -€11,519 to -€38,653
- Purchases and services +€27,134
up €27,134 (+236%), from €11,519 to €38,653
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 | €168,051 | €176,876 | +€8,825 | +5.3% |
| Current assets | 29/58 | €168,051 | €176,876 | +€8,825 | +5.3% |
| Stocks and contracts in progress | 3 | €146,250 | €146,250 | = | 0.0% |
| Stocks | 30/36 | €146,250 | €146,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,269 | €10,224 | -€11,045 | -51.9% |
| Other amounts receivable | 41 | €21,269 | €10,224 | -€11,045 | -51.9% |
| Cash at bank and in hand | 54/58 | €532 | €20,402 | +€19,869 | +3,732% |
| Total equity and liabilities | 10/49 | €168,051 | €176,876 | +€8,825 | +5.3% |
| Equity | 10/15 | €168,036 | €128,881 | -€39,155 | -23.3% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,964 | -€51,119 | -€39,155 | -327% |
| Amounts payable | 17/49 | €15 | €47,995 | +€47,980 | +319,867% |
| Amounts payable within one year | 42/48 | €15 | €47,995 | +€47,980 | +319,867% |
| Financial debts | 43 | - | €7,500 | +€7,500 | |
| Other loans | 439 | - | €7,500 | +€7,500 | |
| Other amounts payable | 47/48 | €15 | €40,495 | +€40,480 | +269,867% |
| Goods, raw materials, services and sundry goods | 60/61 | €11,519 | €38,653 | +€27,134 | +236% |
| Other operating charges | 640/8 | €387 | €430 | +€42 | +10.9% |
| Gross operating margin | 9900 | -€11,519 | -€38,653 | -€27,134 | -236% |
| Operating profit (loss) | 9901 | -€11,907 | -€39,083 | -€27,177 | -228% |
| Financial charges | 65/66B | €57 | €72 | +€15 | +25.4% |
| Recurring financial charges | 65 | €57 | €72 | +€15 | +25.4% |
| Profit (loss) for the period before taxes | 9903 | -€11,964 | -€39,155 | -€27,191 | -227% |
| Profit (loss) for the period | 9904 | -€11,964 | -€39,155 | -€27,191 | -227% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,964 | -€39,155 | -€27,191 | -227% |
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 2 November 2026 via checked.be.