Bull29: 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.
Bull29
Largest movements
- Receivables within one year +€620
up €620 (+1.9%), from €32,545 to €33,165
- Cash -€443
down €443 (-10.6%), from €4,187 to €3,744
mainly Net result for the year (-€2,489) and Receivables within one year (-€620)
- Profit (loss) carried forward -€2,489
down €2,489 (-89.2%), from -€2,790 to -€5,279
- Trade debts +€2,455
new in 2025: €2,455
- Gross operating margin -€2,405
down €2,405 (-171%), from -€1,407 to -€3,812
- Financial income -€209
down €209 (-8.4%), from €2,493 to €2,284
- Financial charges +€46
up €46 (+36.4%), from €127 to €173
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 | €37,210 | €37,176 | -€34 | -0.1% |
| Formation expenses | 20 | €478 | €267 | -€211 | -44.2% |
| Current assets | 29/58 | €36,731 | €36,909 | +€178 | +0.5% |
| Amounts receivable within one year | 40/41 | €32,545 | €33,165 | +€620 | +1.9% |
| Other amounts receivable | 41 | €32,545 | €33,165 | +€620 | +1.9% |
| Cash at bank and in hand | 54/58 | €4,187 | €3,744 | -€443 | -10.6% |
| Total equity and liabilities | 10/49 | €37,210 | €37,176 | -€34 | -0.1% |
| Equity | 10/15 | €37,210 | €34,721 | -€2,489 | -6.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,790 | -€5,279 | -€2,489 | -89.2% |
| Amounts payable | 17/49 | - | €2,455 | +€2,455 | |
| Amounts payable within one year | 42/48 | - | €2,455 | +€2,455 | |
| Trade debts | 44 | - | €2,455 | +€2,455 | |
| Suppliers | 440/4 | - | €2,455 | +€2,455 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €211 | €211 | -€0 | 0.0% |
| Other operating charges | 640/8 | €559 | €575 | +€15 | +2.8% |
| Gross operating margin | 9900 | -€1,407 | -€3,812 | -€2,405 | -171% |
| Operating profit (loss) | 9901 | -€2,178 | -€4,598 | -€2,420 | -111% |
| Financial income | 75/76B | €2,493 | €2,284 | -€209 | -8.4% |
| Recurring financial income | 75 | €2,493 | €2,284 | -€209 | -8.4% |
| Financial charges | 65/66B | €127 | €173 | +€46 | +36.4% |
| Recurring financial charges | 65 | €127 | €173 | +€46 | +36.4% |
| Profit (loss) for the period before taxes | 9903 | €189 | -€2,487 | -€2,676 | |
| Income taxes | 67/77 | - | €2 | +€2 | |
| Profit (loss) for the period | 9904 | €189 | -€2,489 | -€2,678 | |
| Profit (loss) for the period to be appropriated | 9905 | €189 | -€2,489 | -€2,678 |
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 14 October 2026 via checked.be.