Bul & Co Consult: 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.
Bul & Co Consult
Largest movements
- Tangible fixed assets -€13,374
down €13,374 (-7.0%), from €190,911 to €177,537
of which Furniture and vehicles: -€10,639
- Cash +€10,023
up €10,023 (+43.7%), from €22,916 to €32,940
mainly Other debts (+€31,010) and Net result for the year (+€18,224)
- Other debts +€31,010
up €31,010 (+297%), from €10,433 to €41,444
- Profit (loss) carried forward -€26,776
down €26,776 (-36.6%), from €73,188 to €46,411
- Debts after one year -€13,516
down €13,516 (-15.3%), from €88,139 to €74,623
of which Financial debts: -€13,516
- Tax, wage and social debts +€5,414
up €5,414 (+113%), from €4,782 to €10,196
- Gross operating margin +€6,511
up €6,511 (+17.0%), from €38,401 to €44,912
- Depreciation +€5,567
up €5,567 (+71.3%), from €7,808 to €13,374
- Financial charges +€921
up €921 (+19.0%), from €4,840 to €5,761
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 | €220,103 | €216,262 | -€3,841 | -1.7% |
| Fixed assets | 21/28 | €190,911 | €177,537 | -€13,374 | -7.0% |
| Tangible fixed assets | 22/27 | €190,911 | €177,537 | -€13,374 | -7.0% |
| Land and buildings | 22 | €166,600 | €166,600 | = | 0.0% |
| Plant, machinery and equipment | 23 | €6,933 | €4,198 | -€2,736 | -39.5% |
| Furniture and vehicles | 24 | €17,378 | €6,739 | -€10,639 | -61.2% |
| Current assets | 29/58 | €29,192 | €38,725 | +€9,533 | +32.7% |
| Amounts receivable within one year | 40/41 | €6,173 | €4,943 | -€1,230 | -19.9% |
| Trade receivables | 40 | €806 | €2,029 | +€1,223 | +152% |
| Other amounts receivable | 41 | €5,367 | €2,914 | -€2,453 | -45.7% |
| Cash at bank and in hand | 54/58 | €22,916 | €32,940 | +€10,023 | +43.7% |
| Deferred charges and accrued income | 490/1 | €103 | €842 | +€739 | +719% |
| Total equity and liabilities | 10/49 | €220,103 | €216,262 | -€3,841 | -1.7% |
| Equity | 10/15 | €102,121 | €75,345 | -€26,776 | -26.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €10,383 | €10,383 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €8,528 | €8,528 | = | 0.0% |
| Profit (loss) carried forward | 14 | €73,188 | €46,411 | -€26,776 | -36.6% |
| Amounts payable | 17/49 | €117,983 | €140,917 | +€22,935 | +19.4% |
| Amounts payable after more than one year | 17 | €88,139 | €74,623 | -€13,516 | -15.3% |
| Financial debts | 170/4 | €67,139 | €53,623 | -€13,516 | -20.1% |
| Other amounts payable | 178/9 | €21,000 | €21,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €29,843 | €66,294 | +€36,451 | +122% |
| Current portion of amounts payable after more than one year | 42 | €13,326 | €13,516 | +€190 | +1.4% |
| Trade debts | 44 | €1,302 | €1,138 | -€163 | -12.6% |
| Suppliers | 440/4 | €1,302 | €1,138 | -€163 | -12.6% |
| Taxes, remuneration and social security | 45 | €4,782 | €10,196 | +€5,414 | +113% |
| Taxes | 450/3 | €4,782 | €10,196 | +€5,414 | +113% |
| Other amounts payable | 47/48 | €10,433 | €41,444 | +€31,010 | +297% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,808 | €13,374 | +€5,567 | +71.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €38,401 | €44,912 | +€6,511 | +17.0% |
| Operating profit (loss) | 9901 | €30,206 | €31,138 | +€932 | +3.1% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €4,840 | €5,761 | +€921 | +19.0% |
| Recurring financial charges | 65 | €4,840 | €5,761 | +€921 | +19.0% |
| Profit (loss) for the period before taxes | 9903 | €25,367 | €25,382 | +€16 | +0.1% |
| Income taxes | 67/77 | €6,927 | €7,159 | +€231 | +3.3% |
| Profit (loss) for the period | 9904 | €18,439 | €18,224 | -€216 | -1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,439 | €18,224 | -€216 | -1.2% |
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 13 October 2026 via checked.be.