BULBE: 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.
BULBE
Largest movements
- Stocks and contracts +€2,563
up €2,563 (+10.1%), from €25,413 to €27,975
- Tangible fixed assets -€2,434
down €2,434 (-24.5%), from €9,923 to €7,489
of which Plant, machinery and equipment: -€1,390
- Cash +€1,864
up €1,864 (+26.3%), from €7,086 to €8,949
mainly Depreciation (+€2,434) and Receivables within one year (+€1,730)
- Receivables within one year -€1,730
down €1,730 (-54.7%), from €3,160 to €1,430
of which Other amounts receivable: -€1,595
- Deferred charges and accrued income +€701
new in 2025: €701
- Tax, wage and social debts -€1,639
down €1,639 (-61.2%), from €2,680 to €1,041
of which Remuneration and social security: -€1,605
- Other debts +€1,604
up €1,604 (+4.3%), from €37,471 to €39,075
- Profit (loss) carried forward +€1,076
up €1,076 (+23.0%), from -€4,686 to -€3,610
- Gross operating margin +€25,610
up €25,610 (+185.4%), from €13,813 to €39,423
- Staff costs +€16,536
up €16,536 (+105.2%), from €15,726 to €32,262
- Other operating charges +€1,933
new in 2025: €1,933
- Depreciation +€918
up €918 (+60.6%), from €1,516 to €2,434
- Financial charges +€819
up €819 (+60.1%), from €1,363 to €2,182
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 | €49,481 | €50,445 | +€964 | +1.9% |
| Fixed assets | 21/28 | €13,823 | €11,389 | -€2,434 | -17.6% |
| Tangible fixed assets | 22/27 | €9,923 | €7,489 | -€2,434 | -24.5% |
| Plant, machinery and equipment | 23 | €6,084 | €4,694 | -€1,390 | -22.8% |
| Furniture and vehicles | 24 | €3,839 | €2,795 | -€1,044 | -27.2% |
| Financial fixed assets | 28 | €3,900 | €3,900 | = | 0.0% |
| Current assets | 29/58 | €35,658 | €39,056 | +€3,398 | +9.5% |
| Stocks and contracts in progress | 3 | €25,413 | €27,975 | +€2,563 | +10.1% |
| Stocks | 30/36 | €25,413 | €27,975 | +€2,563 | +10.1% |
| Amounts receivable within one year | 40/41 | €3,160 | €1,430 | -€1,730 | -54.7% |
| Trade receivables | 40 | €729 | €595 | -€135 | -18.5% |
| Other amounts receivable | 41 | €2,431 | €836 | -€1,595 | -65.6% |
| Cash at bank and in hand | 54/58 | €7,086 | €8,949 | +€1,864 | +26.3% |
| Deferred charges and accrued income | 490/1 | - | €701 | +€701 | |
| Total equity and liabilities | 10/49 | €49,481 | €50,445 | +€964 | +1.9% |
| Equity | 10/15 | €314 | €1,390 | +€1,076 | +342.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,686 | -€3,610 | +€1,076 | +23.0% |
| Amounts payable | 17/49 | €49,167 | €49,055 | -€112 | -0.2% |
| Amounts payable within one year | 42/48 | €49,167 | €49,055 | -€112 | -0.2% |
| Trade debts | 44 | €9,017 | €8,940 | -€77 | -0.9% |
| Suppliers | 440/4 | €9,017 | €8,940 | -€77 | -0.9% |
| Taxes, remuneration and social security | 45 | €2,680 | €1,041 | -€1,639 | -61.2% |
| Taxes | 450/3 | €994 | €960 | -€34 | -3.4% |
| Remuneration and social security | 454/9 | €1,686 | €81 | -€1,605 | -95.2% |
| Other amounts payable | 47/48 | €37,471 | €39,075 | +€1,604 | +4.3% |
| Remuneration, social security and pensions | 62 | €15,726 | €32,262 | +€16,536 | +105.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,516 | €2,434 | +€918 | +60.6% |
| Other operating charges | 640/8 | - | €1,933 | +€1,933 | |
| Gross operating margin | 9900 | €13,813 | €39,423 | +€25,610 | +185.4% |
| Operating profit (loss) | 9901 | -€3,428 | €2,795 | +€6,223 | |
| Financial income | 75/76B | €105 | €464 | +€358 | +340.5% |
| Recurring financial income | 75 | €105 | €464 | +€358 | +340.5% |
| Financial charges | 65/66B | €1,363 | €2,182 | +€819 | +60.1% |
| Recurring financial charges | 65 | €1,363 | €2,182 | +€819 | +60.1% |
| Profit (loss) for the period before taxes | 9903 | -€4,686 | €1,076 | +€5,762 | |
| Profit (loss) for the period | 9904 | -€4,686 | €1,076 | +€5,762 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,686 | €1,076 | +€5,762 |
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 1 October 2026 via checked.be.