Bulcke Technical Printing: 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.
Bulcke Technical Printing
Largest movements
- Receivables within one year -€130,502
down €130,502 (-74.8%), from €174,405 to €43,903
of which Trade receivables: -€83,184
- Cash +€111,904
up €111,904 (+282%), from €39,678 to €151,582
mainly Receivables within one year (+€130,502) and Net result for the year (+€110,955)
- Tangible fixed assets +€56,531
up €56,531 (+183%), from €30,917 to €87,449
of which Furniture and vehicles: +€56,395
- Intangible fixed assets +€3,249
up €3,249 (+63.0%), from €5,159 to €8,408
- Reserves +€243,830
new in 2025: €243,830
- Profit (loss) carried forward -€132,876
down €132,876 (-100%), from €132,876 to €0
- Investment grants -€54,000
down €54,000 (-90.1%), from €59,937 to €5,937
- Tax, wage and social debts -€13,600
down €13,600 (-67.2%), from €20,247 to €6,647
- Financial income +€30,120
up €30,120 (+125%), from €24,177 to €54,297
- Gross operating margin -€16,288
down €16,288 (-15.3%), from €106,577 to €90,289
- Depreciation +€9,802
up €9,802 (+95.4%), from €10,275 to €20,078
- Write-downs -€8,500
down €8,500 (-100%), from €8,500 to €0
- Taxes -€2,900
down €2,900 (-18.3%), from €15,805 to €12,905
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 | €255,459 | €300,424 | +€44,965 | +17.6% |
| Fixed assets | 21/28 | €36,076 | €95,856 | +€59,780 | +166% |
| Intangible fixed assets | 21 | €5,159 | €8,408 | +€3,249 | +63.0% |
| Tangible fixed assets | 22/27 | €30,917 | €87,449 | +€56,531 | +183% |
| Land and buildings | 22 | - | €1,741 | +€1,741 | |
| Plant, machinery and equipment | 23 | €27,778 | €26,174 | -€1,604 | -5.8% |
| Furniture and vehicles | 24 | €3,140 | €59,535 | +€56,395 | +1,796% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €219,383 | €204,568 | -€14,815 | -6.8% |
| Stocks and contracts in progress | 3 | €5,300 | €8,100 | +€2,800 | +52.8% |
| Stocks | 30/36 | €5,300 | €8,100 | +€2,800 | +52.8% |
| Amounts receivable within one year | 40/41 | €174,405 | €43,903 | -€130,502 | -74.8% |
| Trade receivables | 40 | €105,906 | €22,722 | -€83,184 | -78.5% |
| Other amounts receivable | 41 | €68,499 | €21,181 | -€47,318 | -69.1% |
| Cash at bank and in hand | 54/58 | €39,678 | €151,582 | +€111,904 | +282% |
| Deferred charges and accrued income | 490/1 | €0 | €983 | +€983 | |
| Total equity and liabilities | 10/49 | €255,459 | €300,424 | +€44,965 | +17.6% |
| Equity | 10/15 | €198,812 | €255,767 | +€56,955 | +28.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | - | €243,830 | +€243,830 | |
| Distributable reserves | 133 | - | €243,830 | +€243,830 | |
| Profit (loss) carried forward | 14 | €132,876 | €0 | -€132,876 | -100% |
| Investment grants | 15 | €59,937 | €5,937 | -€54,000 | -90.1% |
| Amounts payable | 17/49 | €56,647 | €44,657 | -€11,990 | -21.2% |
| Amounts payable within one year | 42/48 | €56,647 | €44,657 | -€11,990 | -21.2% |
| Trade debts | 44 | €10,482 | €12,547 | +€2,065 | +19.7% |
| Suppliers | 440/4 | €10,482 | €12,547 | +€2,065 | +19.7% |
| Taxes, remuneration and social security | 45 | €20,247 | €6,647 | -€13,600 | -67.2% |
| Taxes | 450/3 | €20,247 | €6,647 | -€13,600 | -67.2% |
| Other amounts payable | 47/48 | €25,918 | €25,464 | -€455 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,275 | €20,078 | +€9,802 | +95.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,500 | €0 | -€8,500 | -100% |
| Other operating charges | 640/8 | €589 | €453 | -€136 | -23.0% |
| Gross operating margin | 9900 | €106,577 | €90,289 | -€16,288 | -15.3% |
| Operating profit (loss) | 9901 | €87,213 | €69,758 | -€17,454 | -20.0% |
| Financial income | 75/76B | €24,177 | €54,297 | +€30,120 | +125% |
| Recurring financial income | 75 | €24,177 | €54,297 | +€30,120 | +125% |
| Financial charges | 65/66B | €8 | €195 | +€187 | +2,335% |
| Recurring financial charges | 65 | €8 | €195 | +€187 | +2,335% |
| Profit (loss) for the period before taxes | 9903 | €111,382 | €123,860 | +€12,478 | +11.2% |
| Income taxes | 67/77 | €15,805 | €12,905 | -€2,900 | -18.3% |
| Profit (loss) for the period | 9904 | €95,577 | €110,955 | +€15,378 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €95,577 | €110,955 | +€15,378 | +16.1% |
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 20 October 2026 via checked.be.