Bulio: 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.
Bulio
Largest movements
- Receivables after one year -€14,500
no longer reported in 2025 (was €14,500)
- Cash -€9,313
down €9,313 (-48.3%), from €19,266 to €9,953
mainly Investment in fixed assets (net) (-€45,647) and Contributions, distributions and other (-€28,545)
- Tangible fixed assets +€5,509
up €5,509 (+4.5%), from €123,042 to €128,550
of which Furniture and vehicles: +€16,915
- Deferred charges and accrued income +€4,972
up €4,972 (+11.1%), from €44,735 to €49,707
- Current portion of long-term debt +€20,773
up €20,773 (+51.2%), from €40,541 to €61,314
- Tax, wage and social debts -€16,032
down €16,032 (-14.9%), from €107,889 to €91,857
of which Taxes: -€15,512
- Debts after one year -€13,521
down €13,521 (-23.3%), from €57,912 to €44,391
- Reserves -€11,879
down €11,879 (-56.0%), from €21,228 to €9,349
- Trade debts -€10,925
down €10,925 (-24.5%), from €44,537 to €33,612
- Gross operating margin +€26,000
up €26,000 (+4.6%), from €566,192 to €592,192
- Taxes +€6,488
up €6,488 (+36.8%), from €17,628 to €24,116
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 | €318,434 | €304,551 | -€13,882 | -4.4% |
| Fixed assets | 21/28 | €123,042 | €130,996 | +€7,955 | +6.5% |
| Intangible fixed assets | 21 | - | €2,446 | +€2,446 | |
| Tangible fixed assets | 22/27 | €123,042 | €128,550 | +€5,509 | +4.5% |
| Plant, machinery and equipment | 23 | €8,054 | €19,456 | +€11,402 | +141.6% |
| Furniture and vehicles | 24 | €28,012 | €44,926 | +€16,915 | +60.4% |
| Leasing and similar rights | 25 | €86,976 | €64,169 | -€22,807 | -26.2% |
| Current assets | 29/58 | €195,392 | €173,555 | -€21,837 | -11.2% |
| Amounts receivable after more than one year | 29 | €14,500 | - | -€14,500 | |
| Other amounts receivable | 291 | €14,500 | - | -€14,500 | |
| Amounts receivable within one year | 40/41 | €116,891 | €113,895 | -€2,996 | -2.6% |
| Trade receivables | 40 | €114,502 | €109,042 | -€5,460 | -4.8% |
| Other amounts receivable | 41 | €2,389 | €4,853 | +€2,464 | +103.1% |
| Cash at bank and in hand | 54/58 | €19,266 | €9,953 | -€9,313 | -48.3% |
| Deferred charges and accrued income | 490/1 | €44,735 | €49,707 | +€4,972 | +11.1% |
| Total equity and liabilities | 10/49 | €318,434 | €304,551 | -€13,882 | -4.4% |
| Equity | 10/15 | €27,228 | €15,349 | -€11,879 | -43.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €21,228 | €9,349 | -€11,879 | -56.0% |
| Distributable reserves | 133 | €21,228 | €9,349 | -€11,879 | -56.0% |
| Amounts payable | 17/49 | €291,206 | €289,203 | -€2,003 | -0.7% |
| Amounts payable after more than one year | 17 | €57,912 | €44,391 | -€13,521 | -23.3% |
| Financial debts | 170/4 | €57,912 | €44,391 | -€13,521 | -23.3% |
| Amounts payable within one year | 42/48 | €193,575 | €196,232 | +€2,657 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €40,541 | €61,314 | +€20,773 | +51.2% |
| Trade debts | 44 | €44,537 | €33,612 | -€10,925 | -24.5% |
| Suppliers | 440/4 | €44,537 | €33,612 | -€10,925 | -24.5% |
| Taxes, remuneration and social security | 45 | €107,889 | €91,857 | -€16,032 | -14.9% |
| Taxes | 450/3 | €62,931 | €47,419 | -€15,512 | -24.6% |
| Remuneration and social security | 454/9 | €44,958 | €44,438 | -€519 | -1.2% |
| Other amounts payable | 47/48 | €608 | €9,449 | +€8,841 | +1454.7% |
| Accrued charges and deferred income | 492/3 | €39,719 | €48,580 | +€8,860 | +22.3% |
| Remuneration, social security and pensions | 62 | €488,192 | €492,223 | +€4,031 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,961 | €37,693 | +€3,732 | +11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €469 | +€469 | |
| Other operating charges | 640/8 | €4,148 | €3,582 | -€565 | -13.6% |
| Non-recurring operating charges | 66A | €8,784 | €7,341 | -€1,442 | -16.4% |
| Gross operating margin | 9900 | €566,192 | €592,192 | +€26,000 | +4.6% |
| Operating profit (loss) | 9901 | €31,107 | €50,884 | +€19,777 | +63.6% |
| Financial income | 75/76B | €2,573 | €4,093 | +€1,520 | +59.1% |
| Recurring financial income | 75 | €2,043 | €4,093 | +€2,050 | +100.3% |
| Non-recurring financial income | 76B | €530 | - | -€530 | |
| Financial charges | 65/66B | €13,785 | €14,195 | +€409 | +3.0% |
| Recurring financial charges | 65 | €13,785 | €14,195 | +€409 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €19,895 | €40,782 | +€20,888 | +105.0% |
| Income taxes | 67/77 | €17,628 | €24,116 | +€6,488 | +36.8% |
| Profit (loss) for the period | 9904 | €2,266 | €16,666 | +€14,400 | +635.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,266 | €16,666 | +€14,400 | +635.4% |
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 30 September 2026 via checked.be.