BULAI CONSTRUCT: what changed
Two fiscal 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.
BULAI CONSTRUCT
Largest movements
- Tangible fixed assets -€19,402
down €19,402 (-2.9%), from €663,679 to €644,277
- Debts after one year -€44,517
down €44,517 (-10.2%), from €434,470 to €389,953
of which Financial debts: -€44,517
- Reserves +€19,000
up €19,000 (+112.7%), from €16,860 to €35,860
- Gross operating margin +€6,795
up €6,795 (+12.1%), from €56,369 to €63,163
- Taxes +€2,132
up €2,132 (+28.0%), from €7,626 to €9,758
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 | €667,464 | €648,257 | -€19,207 | -2.9% |
| Fixed assets | 21/28 | €663,679 | €644,277 | -€19,402 | -2.9% |
| Tangible fixed assets | 22/27 | €663,679 | €644,277 | -€19,402 | -2.9% |
| Land and buildings | 22 | €663,679 | €644,277 | -€19,402 | -2.9% |
| Current assets | 29/58 | €3,785 | €3,980 | +€195 | +5.2% |
| Cash at bank and in hand | 54/58 | €2,890 | €3,034 | +€144 | +5.0% |
| Deferred charges and accrued income | 490/1 | €895 | €946 | +€51 | +5.8% |
| Total equity and liabilities | 10/49 | €667,464 | €648,257 | -€19,207 | -2.9% |
| Equity | 10/15 | €132,083 | €151,770 | +€19,687 | +14.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €16,860 | €35,860 | +€19,000 | +112.7% |
| Distributable reserves | 133 | €16,860 | €35,860 | +€19,000 | +112.7% |
| Profit (loss) carried forward | 14 | €96,623 | €97,310 | +€687 | +0.7% |
| Amounts payable | 17/49 | €535,381 | €496,487 | -€38,894 | -7.3% |
| Amounts payable after more than one year | 17 | €434,470 | €389,953 | -€44,517 | -10.2% |
| Financial debts | 170/4 | €78,370 | €33,853 | -€44,517 | -56.8% |
| Other amounts payable | 178/9 | €356,100 | €356,100 | = | 0.0% |
| Amounts payable within one year | 42/48 | €100,911 | €106,534 | +€5,623 | +5.6% |
| Current portion of amounts payable after more than one year | 42 | €43,819 | €44,517 | +€698 | +1.6% |
| Trade debts | 44 | - | €99 | +€99 | |
| Suppliers | 440/4 | - | €99 | +€99 | |
| Taxes, remuneration and social security | 45 | €12,148 | €17,384 | +€5,236 | +43.1% |
| Taxes | 450/3 | €12,148 | €17,384 | +€5,236 | +43.1% |
| Other amounts payable | 47/48 | €44,944 | €44,534 | -€410 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,402 | €19,402 | = | 0.0% |
| Other operating charges | 640/8 | €12,058 | €12,437 | +€379 | +3.1% |
| Gross operating margin | 9900 | €56,369 | €63,163 | +€6,795 | +12.1% |
| Operating profit (loss) | 9901 | €24,908 | €31,324 | +€6,416 | +25.8% |
| Financial charges | 65/66B | €2,429 | €1,879 | -€549 | -22.6% |
| Recurring financial charges | 65 | €2,429 | €1,879 | -€549 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €22,480 | €29,445 | +€6,965 | +31.0% |
| Income taxes | 67/77 | €7,626 | €9,758 | +€2,132 | +28.0% |
| Profit (loss) for the period | 9904 | €14,854 | €19,687 | +€4,833 | +32.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,854 | €19,687 | +€4,833 | +32.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.