BULL: 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.
BULL
Largest movements
- Cash +€29,061
up €29,061 (+17143.1%), from €170 to €29,230
mainly Net result for the year (+€15,306) and Trade debts (+€10,294)
- Receivables within one year +€3,608
up €3,608 (+51.8%), from €6,971 to €10,579
of which Trade receivables: +€9,963
- Deferred charges and accrued income +€498
new in 2025: €498
- Profit (loss) carried forward +€10,306
up €10,306, from -€7,949 to €2,356
- Trade debts +€10,294
up €10,294 (+700.1%), from €1,470 to €11,765
- Tax, wage and social debts +€8,028
new in 2025: €8,028
- Reserves +€5,000
new in 2025: €5,000
- Gross operating margin +€28,931
up €28,931, from -€1,950 to €26,981
- Taxes +€3,582
new in 2025: €3,582
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 | €7,140 | €40,518 | +€33,377 | +467.5% |
| Fixed assets | 21/28 | - | €210 | +€210 | |
| Financial fixed assets | 28 | - | €210 | +€210 | |
| Current assets | 29/58 | €7,140 | €40,308 | +€33,167 | +464.5% |
| Amounts receivable within one year | 40/41 | €6,971 | €10,579 | +€3,608 | +51.8% |
| Trade receivables | 40 | - | €9,963 | +€9,963 | |
| Other amounts receivable | 41 | €6,971 | €617 | -€6,354 | -91.2% |
| Cash at bank and in hand | 54/58 | €170 | €29,230 | +€29,061 | +17143.1% |
| Deferred charges and accrued income | 490/1 | - | €498 | +€498 | |
| Total equity and liabilities | 10/49 | €7,140 | €40,518 | +€33,377 | +467.5% |
| Equity | 10/15 | €4,451 | €19,756 | +€15,306 | +343.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | - | €5,000 | +€5,000 | |
| Distributable reserves | 133 | - | €5,000 | +€5,000 | |
| Profit (loss) carried forward | 14 | -€7,949 | €2,356 | +€10,306 | |
| Amounts payable | 17/49 | €2,690 | €20,761 | +€18,072 | +671.9% |
| Amounts payable within one year | 42/48 | €2,690 | €20,761 | +€18,072 | +671.9% |
| Trade debts | 44 | €1,470 | €11,765 | +€10,294 | +700.1% |
| Suppliers | 440/4 | €1,470 | €11,765 | +€10,294 | +700.1% |
| Taxes, remuneration and social security | 45 | - | €8,028 | +€8,028 | |
| Taxes | 450/3 | - | €8,028 | +€8,028 | |
| Other amounts payable | 47/48 | €1,219 | €968 | -€251 | -20.6% |
| Other operating charges | 640/8 | €1,137 | €1,227 | +€90 | +8.0% |
| Non-recurring operating charges | 66A | - | €6,540 | +€6,540 | |
| Gross operating margin | 9900 | -€1,950 | €26,981 | +€28,931 | |
| Operating profit (loss) | 9901 | -€3,087 | €19,215 | +€22,301 | |
| Financial charges | 65/66B | €135 | €327 | +€192 | +142.2% |
| Recurring financial charges | 65 | €135 | €327 | +€192 | +142.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,222 | €18,888 | +€22,109 | |
| Income taxes | 67/77 | - | €3,582 | +€3,582 | |
| Profit (loss) for the period | 9904 | -€3,222 | €15,306 | +€18,527 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,222 | €15,306 | +€18,527 |
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.