BULBULY: 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.
BULBULY
Largest movements
- Receivables within one year +€110,786
up €110,786 (+17,595%), from €630 to €111,416
of which Trade receivables: +€109,048
- Cash -€6,501
down €6,501 (-69.3%), from €9,386 to €2,886
mainly Receivables within one year (-€110,786) and Investment in fixed assets (net) (-€60)
- Stocks and contracts -€2,956
down €2,956 (-9.2%), from €32,250 to €29,294
- Trade debts +€46,842
up €46,842 (+288%), from €16,257 to €63,099
- Other debts +€39,950
up €39,950 (+1,225%), from €3,262 to €43,212
- Tax, wage and social debts +€12,297
up €12,297 (+106%), from €11,586 to €23,883
of which Remuneration and social security: +€12,500
- Profit (loss) carried forward +€2,031
up €2,031 (+26.1%), from €7,782 to €9,813
- Staff costs +€11,491
up €11,491 (+22.2%), from €51,705 to €63,197
- Gross operating margin +€7,934
up €7,934 (+12.7%), from €62,262 to €70,196
- Other operating charges +€1,200
new in 2025: €1,200
- Financial charges +€1,072
up €1,072 (+60.8%), from €1,764 to €2,836
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 | €42,886 | €144,007 | +€101,121 | +236% |
| Fixed assets | 21/28 | €620 | €412 | -€209 | -33.6% |
| Tangible fixed assets | 22/27 | €620 | €352 | -€269 | -43.3% |
| Plant, machinery and equipment | 23 | €620 | €352 | -€269 | -43.3% |
| Financial fixed assets | 28 | - | €60 | +€60 | |
| Current assets | 29/58 | €42,266 | €143,596 | +€101,330 | +240% |
| Stocks and contracts in progress | 3 | €32,250 | €29,294 | -€2,956 | -9.2% |
| Stocks | 30/36 | €32,250 | €29,294 | -€2,956 | -9.2% |
| Amounts receivable within one year | 40/41 | €630 | €111,416 | +€110,786 | +17,595% |
| Trade receivables | 40 | - | €109,048 | +€109,048 | |
| Other amounts receivable | 41 | €630 | €2,368 | +€1,738 | +276% |
| Cash at bank and in hand | 54/58 | €9,386 | €2,886 | -€6,501 | -69.3% |
| Total equity and liabilities | 10/49 | €42,886 | €144,007 | +€101,121 | +236% |
| Equity | 10/15 | €11,782 | €13,813 | +€2,031 | +17.2% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,782 | €9,813 | +€2,031 | +26.1% |
| Amounts payable | 17/49 | €31,105 | €130,195 | +€99,090 | +319% |
| Amounts payable within one year | 42/48 | €31,105 | €130,195 | +€99,090 | +319% |
| Trade debts | 44 | €16,257 | €63,099 | +€46,842 | +288% |
| Suppliers | 440/4 | €16,257 | €63,099 | +€46,842 | +288% |
| Taxes, remuneration and social security | 45 | €11,586 | €23,883 | +€12,297 | +106% |
| Taxes | 450/3 | €4,051 | €3,848 | -€202 | -5.0% |
| Remuneration and social security | 454/9 | €7,535 | €20,035 | +€12,500 | +166% |
| Other amounts payable | 47/48 | €3,262 | €43,212 | +€39,950 | +1,225% |
| Remuneration, social security and pensions | 62 | €51,705 | €63,197 | +€11,491 | +22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186 | €269 | +€83 | +44.7% |
| Other operating charges | 640/8 | - | €1,200 | +€1,200 | |
| Gross operating margin | 9900 | €62,262 | €70,196 | +€7,934 | +12.7% |
| Operating profit (loss) | 9901 | €10,370 | €5,531 | -€4,840 | -46.7% |
| Financial income | 75/76B | €0 | €0 | = | 0.0% |
| Recurring financial income | 75 | €0 | €0 | = | 0.0% |
| Financial charges | 65/66B | €1,764 | €2,836 | +€1,072 | +60.8% |
| Recurring financial charges | 65 | €1,764 | €2,836 | +€1,072 | +60.8% |
| Profit (loss) for the period before taxes | 9903 | €8,606 | €2,695 | -€5,912 | -68.7% |
| Income taxes | 67/77 | - | €664 | +€664 | |
| Profit (loss) for the period | 9904 | €8,606 | €2,031 | -€6,575 | -76.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,606 | €2,031 | -€6,575 | -76.4% |
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 26 October 2026 via checked.be.