BULLE COLOR: 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.
BULLE COLOR
Largest movements
- Receivables within one year -€35,842
down €35,842 (-31.6%), from €113,524 to €77,682
of which Other amounts receivable: -€27,336
- Cash -€25,261
down €25,261 (-25.7%), from €98,421 to €73,160
mainly Contributions, distributions and other (-€45,000) and Investment in fixed assets (net) (-€16,546)
- Deferred charges and accrued income +€2,564
up €2,564 (+63.0%), from €4,070 to €6,634
- Reserves -€45,000
down €45,000 (-45.7%), from €98,434 to €53,434
of which Distributable reserves: -€45,000
- Profit (loss) carried forward -€12,570
down €12,570 (-15.4%), from €81,735 to €69,164
- Trade debts +€7,230
up €7,230 (+108%), from €6,696 to €13,926
- Debts after one year -€6,260
no longer reported in 2025 (was €6,260)
- Current portion of long-term debt -€2,977
down €2,977 (-32.2%), from €9,237 to €6,260
- Gross operating margin -€21,764
down €21,764 (-22.9%), from €94,846 to €73,081
- Taxes -€3,086
no longer reported in 2025 (was €3,086)
- Staff costs +€2,987
up €2,987 (+4.4%), from €67,797 to €70,784
- Depreciation +€2,905
up €2,905 (+21.6%), from €13,427 to €16,332
- Other operating charges -€2,539
down €2,539 (-78.8%), from €3,221 to €682
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 | €238,870 | €180,546 | -€58,324 | -24.4% |
| Fixed assets | 21/28 | €22,855 | €23,070 | +€214 | +0.9% |
| Tangible fixed assets | 22/27 | €21,608 | €21,822 | +€214 | +1.0% |
| Plant, machinery and equipment | 23 | €16,971 | €18,244 | +€1,273 | +7.5% |
| Furniture and vehicles | 24 | €4,637 | €3,578 | -€1,058 | -22.8% |
| Financial fixed assets | 28 | €1,248 | €1,248 | = | 0.0% |
| Current assets | 29/58 | €216,015 | €157,476 | -€58,538 | -27.1% |
| Amounts receivable within one year | 40/41 | €113,524 | €77,682 | -€35,842 | -31.6% |
| Trade receivables | 40 | €48,829 | €40,322 | -€8,506 | -17.4% |
| Other amounts receivable | 41 | €64,696 | €37,360 | -€27,336 | -42.3% |
| Cash at bank and in hand | 54/58 | €98,421 | €73,160 | -€25,261 | -25.7% |
| Deferred charges and accrued income | 490/1 | €4,070 | €6,634 | +€2,564 | +63.0% |
| Total equity and liabilities | 10/49 | €238,870 | €180,546 | -€58,324 | -24.4% |
| Equity | 10/15 | €198,761 | €141,190 | -€57,570 | -29.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €98,434 | €53,434 | -€45,000 | -45.7% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €79,684 | €34,684 | -€45,000 | -56.5% |
| Profit (loss) carried forward | 14 | €81,735 | €69,164 | -€12,570 | -15.4% |
| Amounts payable | 17/49 | €40,109 | €39,356 | -€754 | -1.9% |
| Amounts payable after more than one year | 17 | €6,260 | - | -€6,260 | |
| Financial debts | 170/4 | €6,260 | - | -€6,260 | |
| Amounts payable within one year | 42/48 | €33,849 | €39,356 | +€5,506 | +16.3% |
| Current portion of amounts payable after more than one year | 42 | €9,237 | €6,260 | -€2,977 | -32.2% |
| Trade debts | 44 | €6,696 | €13,926 | +€7,230 | +108% |
| Suppliers | 440/4 | €6,696 | €13,926 | +€7,230 | +108% |
| Taxes, remuneration and social security | 45 | €17,917 | €19,170 | +€1,253 | +7.0% |
| Taxes | 450/3 | €7,632 | €6,347 | -€1,284 | -16.8% |
| Remuneration and social security | 454/9 | €10,285 | €12,822 | +€2,537 | +24.7% |
| Remuneration, social security and pensions | 62 | €67,797 | €70,784 | +€2,987 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,427 | €16,332 | +€2,905 | +21.6% |
| Other operating charges | 640/8 | €3,221 | €682 | -€2,539 | -78.8% |
| Gross operating margin | 9900 | €94,846 | €73,081 | -€21,764 | -22.9% |
| Operating profit (loss) | 9901 | €10,400 | -€14,717 | -€25,117 | |
| Financial income | 75/76B | €3,951 | €2,710 | -€1,241 | -31.4% |
| Recurring financial income | 75 | €3,951 | €2,710 | -€1,241 | -31.4% |
| Financial charges | 65/66B | €361 | €563 | +€202 | +55.9% |
| Recurring financial charges | 65 | €361 | €563 | +€202 | +55.9% |
| Profit (loss) for the period before taxes | 9903 | €13,990 | -€12,570 | -€26,560 | |
| Income taxes | 67/77 | €3,086 | - | -€3,086 | |
| Profit (loss) for the period | 9904 | €10,904 | -€12,570 | -€23,475 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,904 | -€12,570 | -€23,475 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.