BULLET PROOF TECHNOLOGIES: 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.
BULLET PROOF TECHNOLOGIES
Largest movements
- Receivables within one year -€132,488
down €132,488 (-68.3%), from €193,862 to €61,374
of which Trade receivables: -€107,754
- Cash +€88,779
up €88,779 (+802.9%), from €11,057 to €99,836
mainly Receivables within one year (+€132,488) and Depreciation (+€48,544)
- Tangible fixed assets +€13,069
up €13,069 (+20.5%), from €63,729 to €76,798
of which Plant, machinery and equipment: +€31,851
- Intangible fixed assets -€13,019
down €13,019 (-10.8%), from €120,655 to €107,637
- Stocks and contracts -€7,886
down €7,886 (-25.5%), from €30,980 to €23,094
- Trade debts -€84,923
down €84,923 (-79.1%), from €107,429 to €22,506
- Profit (loss) carried forward +€35,044
up €35,044 (+95.0%), from €36,874 to €71,918
- Tax, wage and social debts +€26,401
new in 2025: €26,401
- Debts after one year -€25,917
down €25,917 (-14.6%), from €177,030 to €151,114
- Accrued charges and deferred income -€4,857
down €4,857 (-10.3%), from €47,271 to €42,414
- Gross operating margin +€76,758
up €76,758 (+150.9%), from €50,860 to €127,618
- Taxes +€19,507
up €19,507 (+325.5%), from €5,993 to €25,500
- Depreciation +€16,488
up €16,488 (+51.4%), from €32,056 to €48,544
- Provisions +€8,129
new in 2025: €8,129
- Staff costs +€6,988
up €6,988 (+1804.2%), from €387 to €7,376
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 | €427,751 | €376,206 | -€51,545 | -12.1% |
| Fixed assets | 21/28 | €191,852 | €191,903 | +€51 | 0.0% |
| Intangible fixed assets | 21 | €120,655 | €107,637 | -€13,019 | -10.8% |
| Tangible fixed assets | 22/27 | €63,729 | €76,798 | +€13,069 | +20.5% |
| Plant, machinery and equipment | 23 | €29,137 | €60,988 | +€31,851 | +109.3% |
| Furniture and vehicles | 24 | €34,591 | €15,810 | -€18,782 | -54.3% |
| Financial fixed assets | 28 | €7,468 | €7,468 | = | 0.0% |
| Current assets | 29/58 | €235,899 | €184,304 | -€51,595 | -21.9% |
| Stocks and contracts in progress | 3 | €30,980 | €23,094 | -€7,886 | -25.5% |
| Stocks | 30/36 | €30,980 | €23,094 | -€7,886 | -25.5% |
| Amounts receivable within one year | 40/41 | €193,862 | €61,374 | -€132,488 | -68.3% |
| Trade receivables | 40 | €147,243 | €39,489 | -€107,754 | -73.2% |
| Other amounts receivable | 41 | €46,619 | €21,885 | -€24,734 | -53.1% |
| Cash at bank and in hand | 54/58 | €11,057 | €99,836 | +€88,779 | +802.9% |
| Total equity and liabilities | 10/49 | €427,751 | €376,206 | -€51,545 | -12.1% |
| Equity | 10/15 | €70,150 | €105,193 | +€35,044 | +50.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €27,075 | €27,075 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €25,215 | €25,215 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,874 | €71,918 | +€35,044 | +95.0% |
| Amounts payable | 17/49 | €357,601 | €271,013 | -€86,588 | -24.2% |
| Amounts payable after more than one year | 17 | €177,030 | €151,114 | -€25,917 | -14.6% |
| Financial debts | 170/4 | €177,030 | €151,114 | -€25,917 | -14.6% |
| Amounts payable within one year | 42/48 | €133,300 | €77,485 | -€55,815 | -41.9% |
| Trade debts | 44 | €107,429 | €22,506 | -€84,923 | -79.1% |
| Suppliers | 440/4 | €107,429 | €22,506 | -€84,923 | -79.1% |
| Advances received on contracts in progress | 46 | €769 | - | -€769 | |
| Taxes, remuneration and social security | 45 | - | €26,401 | +€26,401 | |
| Taxes | 450/3 | - | €26,401 | +€26,401 | |
| Other amounts payable | 47/48 | €25,103 | €28,579 | +€3,476 | +13.8% |
| Accrued charges and deferred income | 492/3 | €47,271 | €42,414 | -€4,857 | -10.3% |
| Remuneration, social security and pensions | 62 | €387 | €7,376 | +€6,988 | +1804.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,056 | €48,544 | +€16,488 | +51.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €8,129 | +€8,129 | |
| Other operating charges | 640/8 | €1,479 | €1,161 | -€318 | -21.5% |
| Gross operating margin | 9900 | €50,860 | €127,618 | +€76,758 | +150.9% |
| Operating profit (loss) | 9901 | €16,937 | €62,408 | +€45,471 | +268.5% |
| Financial income | 75/76B | €872 | €4,300 | +€3,428 | +393.1% |
| Recurring financial income | 75 | €872 | €4,300 | +€3,428 | +393.1% |
| Financial charges | 65/66B | €1,438 | €6,164 | +€4,726 | +328.5% |
| Recurring financial charges | 65 | €1,438 | €6,164 | +€4,726 | +328.5% |
| Profit (loss) for the period before taxes | 9903 | €16,371 | €60,544 | +€44,173 | +269.8% |
| Income taxes | 67/77 | €5,993 | €25,500 | +€19,507 | +325.5% |
| Profit (loss) for the period | 9904 | €10,378 | €35,044 | +€24,666 | +237.7% |
| Profit (loss) for the period to be appropriated | 9905 | €10,378 | €35,044 | +€24,666 | +237.7% |
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 3 October 2026 via checked.be.