Bpuls: 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.
Bpuls
Largest movements
- Receivables within one year +€25,950
up €25,950 (+178.1%), from €14,572 to €40,522
of which Trade receivables: +€27,240
- Cash +€14,256
up €14,256 (+81.1%), from €17,588 to €31,844
mainly Net result for the year (+€38,879) and Other debts (+€27,655)
- Receivables after one year -€12,000
down €12,000 (-100.0%), from €12,000 to €0
- Tangible fixed assets -€10,846
down €10,846 (-18.8%), from €57,740 to €46,894
of which Plant, machinery and equipment: -€5,983
- Other debts +€27,655
up €27,655 (+326.5%), from €8,471 to €36,126
- Debts after one year -€12,486
down €12,486 (-18.3%), from €68,246 to €55,761
- Trade debts +€4,199
up €4,199 (+82.6%), from €5,086 to €9,284
- Tax, wage and social debts -€2,900
down €2,900 (-64.4%), from €4,500 to €1,600
of which Taxes: -€2,900
- Gross operating margin +€27,391
up €27,391 (+71.9%), from €38,081 to €65,472
- Depreciation -€10,319
down €10,319 (-43.6%), from €23,666 to €13,347
- Taxes +€7,731
up €7,731 (+5414.6%), from €143 to €7,874
- Financial charges +€772
up €772 (+20.0%), from €3,858 to €4,630
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 | €104,601 | €121,467 | +€16,866 | +16.1% |
| Fixed assets | 21/28 | €59,463 | €48,399 | -€11,063 | -18.6% |
| Intangible fixed assets | 21 | €535 | €318 | -€217 | -40.5% |
| Tangible fixed assets | 22/27 | €57,740 | €46,894 | -€10,846 | -18.8% |
| Land and buildings | 22 | €32,551 | €27,930 | -€4,621 | -14.2% |
| Plant, machinery and equipment | 23 | €24,666 | €18,682 | -€5,983 | -24.3% |
| Furniture and vehicles | 24 | €524 | €282 | -€242 | -46.2% |
| Financial fixed assets | 28 | €1,187 | €1,187 | = | 0.0% |
| Current assets | 29/58 | €45,139 | €73,068 | +€27,929 | +61.9% |
| Amounts receivable after more than one year | 29 | €12,000 | €0 | -€12,000 | -100.0% |
| Other amounts receivable | 291 | €12,000 | €0 | -€12,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €14,572 | €40,522 | +€25,950 | +178.1% |
| Trade receivables | 40 | €10,356 | €37,596 | +€27,240 | +263.0% |
| Other amounts receivable | 41 | €4,216 | €2,926 | -€1,289 | -30.6% |
| Cash at bank and in hand | 54/58 | €17,588 | €31,844 | +€14,256 | +81.1% |
| Deferred charges and accrued income | 490/1 | €979 | €702 | -€277 | -28.3% |
| Total equity and liabilities | 10/49 | €104,601 | €121,467 | +€16,866 | +16.1% |
| Equity | 10/15 | €5,887 | €5,590 | -€297 | -5.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €3,887 | €3,590 | -€297 | -7.6% |
| Distributable reserves | 133 | €3,887 | €3,590 | -€297 | -7.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €98,714 | €115,877 | +€17,163 | +17.4% |
| Amounts payable after more than one year | 17 | €68,246 | €55,761 | -€12,486 | -18.3% |
| Financial debts | 170/4 | €68,246 | €55,761 | -€12,486 | -18.3% |
| Amounts payable within one year | 42/48 | €30,468 | €59,827 | +€29,359 | +96.4% |
| Financial debts | 43 | €12,411 | €12,817 | +€406 | +3.3% |
| Credit institutions | 430/8 | €12,411 | €12,817 | +€406 | +3.3% |
| Trade debts | 44 | €5,086 | €9,284 | +€4,199 | +82.6% |
| Suppliers | 440/4 | €5,086 | €9,284 | +€4,199 | +82.6% |
| Taxes, remuneration and social security | 45 | €4,500 | €1,600 | -€2,900 | -64.4% |
| Taxes | 450/3 | €4,500 | €1,600 | -€2,900 | -64.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €8,471 | €36,126 | +€27,655 | +326.5% |
| Accrued charges and deferred income | 492/3 | €0 | €289 | +€289 | |
| Remuneration, social security and pensions | 62 | -€90 | €0 | +€90 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,666 | €13,347 | -€10,319 | -43.6% |
| Other operating charges | 640/8 | €895 | €742 | -€153 | -17.1% |
| Gross operating margin | 9900 | €38,081 | €65,472 | +€27,391 | +71.9% |
| Operating profit (loss) | 9901 | €13,611 | €51,383 | +€37,772 | +277.5% |
| Financial income | 75/76B | €359 | €0 | -€359 | -100.0% |
| Recurring financial income | 75 | €359 | €0 | -€359 | -100.0% |
| Financial charges | 65/66B | €3,858 | €4,630 | +€772 | +20.0% |
| Recurring financial charges | 65 | €3,858 | €4,630 | +€772 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €10,112 | €46,753 | +€36,641 | +362.4% |
| Income taxes | 67/77 | €143 | €7,874 | +€7,731 | +5414.6% |
| Profit (loss) for the period | 9904 | €9,969 | €38,879 | +€28,910 | +290.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,969 | €38,879 | +€28,910 | +290.0% |
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 10 October 2026 via checked.be.