I don't know anything about the laws in Germany but I'm guessing you'll have to pay taxes for the new income? But I really don't have a clue to be honest hehe. Also, why would it be unethical to take money for doing work? Unless your time is worthless to you, go ahead and charge whatever you want IMHO.
As for the UM being up to the task, well that depends entirely on what kind of prototype you're going to be printing of course
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illuminarti 18
It really depends on the requirements for what is to be produced. Arguably the reason that 3D printing was developed was for prototyping, and the Ultimaker is a perfectly good example of the fused-filament fabrication branch of the industry. Plenty of people are making prototypes and some people are making full production units of their products using Ultimaker printers. It's not well suited for all types of item, but for many it's a great fit.
The main consideration will probably be to do with the tolerances that are acceptable, the mechanical and heat resistance that is needed, and the scale of detail that has to be reproduced - and your skill and experience in setting up the printer to get the best out of it.
Why don't you work on your friend's project, on the understanding that you want x amount of money for your time and materials, but with full disclosure up front that you're uncertain of the outcome, and so will only expect payment if the end result is to their satisfaction? That way, you set reasonable expectations and in the worst case you aren't on the hook for a something you couldn't deliver. Assuming it works out just fine - and it probably will - then in future you'll have more experience, expertise and confidence to price out more jobs if you want to, and your friend will have more confidence in you, and in the Ultimaker.
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