BITBULL: 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.
BITBULL
Largest movements
- Current investments +€108,497
up €108,497 (+542%), from €20,000 to €128,497
- Cash -€77,470
down €77,470 (-47.8%), from €162,116 to €84,646
mainly Current investments (-€108,497) and Investment in fixed assets (net) (-€3,725)
- Receivables within one year -€4,292
down €4,292 (-18.6%), from €23,133 to €18,842
of which Other amounts receivable: -€8,903
- Reserves +€31,011
up €31,011 (+19.2%), from €161,119 to €192,130
of which Distributable reserves: +€31,011
- Trade debts -€3,253
down €3,253 (-53.1%), from €6,122 to €2,869
- Tax, wage and social debts +€2,483
up €2,483 (+30.5%), from €8,138 to €10,621
- Gross operating margin -€9,415
down €9,415 (-18.2%), from €51,667 to €42,252
- Financial income +€8,246
up €8,246, from €0 to €8,246
- Taxes -€701
down €701 (-4.9%), from €14,343 to €13,642
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 | €213,990 | €242,233 | +€28,244 | +13.2% |
| Fixed assets | 21/28 | €7,377 | €8,241 | +€865 | +11.7% |
| Tangible fixed assets | 22/27 | €7,127 | €7,991 | +€865 | +12.1% |
| Plant, machinery and equipment | 23 | €1,681 | €3,121 | +€1,440 | +85.6% |
| Furniture and vehicles | 24 | €5,445 | €4,870 | -€575 | -10.6% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €206,613 | €233,992 | +€27,379 | +13.3% |
| Amounts receivable within one year | 40/41 | €23,133 | €18,842 | -€4,292 | -18.6% |
| Trade receivables | 40 | €14,224 | €18,836 | +€4,612 | +32.4% |
| Other amounts receivable | 41 | €8,910 | €6 | -€8,903 | -99.9% |
| Current investments | 50/53 | €20,000 | €128,497 | +€108,497 | +542% |
| Cash at bank and in hand | 54/58 | €162,116 | €84,646 | -€77,470 | -47.8% |
| Deferred charges and accrued income | 490/1 | €1,364 | €2,007 | +€643 | +47.2% |
| Total equity and liabilities | 10/49 | €213,990 | €242,233 | +€28,244 | +13.2% |
| Equity | 10/15 | €179,719 | €210,730 | +€31,011 | +17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €161,119 | €192,130 | +€31,011 | +19.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €159,259 | €190,270 | +€31,011 | +19.5% |
| Amounts payable | 17/49 | €34,271 | €31,504 | -€2,767 | -8.1% |
| Amounts payable within one year | 42/48 | €34,271 | €31,504 | -€2,767 | -8.1% |
| Trade debts | 44 | €6,122 | €2,869 | -€3,253 | -53.1% |
| Suppliers | 440/4 | €6,122 | €2,869 | -€3,253 | -53.1% |
| Taxes, remuneration and social security | 45 | €8,138 | €10,621 | +€2,483 | +30.5% |
| Taxes | 450/3 | €8,138 | €10,621 | +€2,483 | +30.5% |
| Other amounts payable | 47/48 | €20,011 | €18,014 | -€1,997 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,580 | €2,860 | +€280 | +10.8% |
| Other operating charges | 640/8 | €1,255 | €1,091 | -€164 | -13.1% |
| Gross operating margin | 9900 | €51,667 | €42,252 | -€9,415 | -18.2% |
| Operating profit (loss) | 9901 | €47,832 | €38,301 | -€9,531 | -19.9% |
| Financial income | 75/76B | €0 | €8,246 | +€8,246 | |
| Recurring financial income | 75 | €0 | €8,246 | +€8,246 | |
| Financial charges | 65/66B | €1,572 | €1,895 | +€322 | +20.5% |
| Recurring financial charges | 65 | €1,572 | €1,895 | +€322 | +20.5% |
| Profit (loss) for the period before taxes | 9903 | €46,260 | €44,652 | -€1,607 | -3.5% |
| Income taxes | 67/77 | €14,343 | €13,642 | -€701 | -4.9% |
| Profit (loss) for the period | 9904 | €31,917 | €31,011 | -€907 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,917 | €31,011 | -€907 | -2.8% |
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 18 October 2026 via checked.be.