BULLFINCH: 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.
BULLFINCH
Largest movements
- Tangible fixed assets -€39,300
down €39,300 (-16.7%), from €235,209 to €195,909
of which Other tangible fixed assets: -€30,101
- Receivables within one year -€4,031
down €4,031 (-4.3%), from €94,327 to €90,296
of which Trade receivables: -€6,561
- Other debts +€63,750
new in 2025: €63,750
- Reserves -€59,530
down €59,530 (-49.3%), from €120,702 to €61,172
- Debts after one year -€27,106
down €27,106 (-19.2%), from €141,474 to €114,368
- Trade debts -€18,338
down €18,338 (-57.3%), from €31,993 to €13,655
- Gross operating margin -€11,752
down €11,752 (-14.0%), from €83,890 to €72,138
- Taxes -€2,459
down €2,459 (-25.2%), from €9,752 to €7,293
- Other operating charges +€1,278
up €1,278 (+83.3%), from €1,534 to €2,812
- Financial charges -€1,168
down €1,168 (-13.9%), from €8,431 to €7,262
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 | €344,884 | €303,594 | -€41,289 | -12.0% |
| Fixed assets | 21/28 | €235,209 | €195,909 | -€39,300 | -16.7% |
| Tangible fixed assets | 22/27 | €235,209 | €195,909 | -€39,300 | -16.7% |
| Plant, machinery and equipment | 23 | €21,137 | €14,479 | -€6,658 | -31.5% |
| Furniture and vehicles | 24 | €10,724 | €8,182 | -€2,542 | -23.7% |
| Other tangible fixed assets | 26 | €203,348 | €173,248 | -€30,101 | -14.8% |
| Current assets | 29/58 | €109,675 | €107,685 | -€1,989 | -1.8% |
| Amounts receivable within one year | 40/41 | €94,327 | €90,296 | -€4,031 | -4.3% |
| Trade receivables | 40 | €94,327 | €87,766 | -€6,561 | -7.0% |
| Other amounts receivable | 41 | - | €2,530 | +€2,530 | |
| Cash at bank and in hand | 54/58 | €12,741 | €13,243 | +€502 | +3.9% |
| Deferred charges and accrued income | 490/1 | €2,606 | €4,146 | +€1,540 | +59.1% |
| Total equity and liabilities | 10/49 | €344,884 | €303,594 | -€41,289 | -12.0% |
| Equity | 10/15 | €125,702 | €66,172 | -€59,530 | -47.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €120,702 | €61,172 | -€59,530 | -49.3% |
| Distributable reserves | 133 | €120,702 | €61,172 | -€59,530 | -49.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €219,182 | €237,422 | +€18,241 | +8.3% |
| Amounts payable after more than one year | 17 | €141,474 | €114,368 | -€27,106 | -19.2% |
| Financial debts | 170/4 | €141,474 | €114,368 | -€27,106 | -19.2% |
| Amounts payable within one year | 42/48 | €77,707 | €123,054 | +€45,347 | +58.4% |
| Current portion of amounts payable after more than one year | 42 | €26,226 | €27,106 | +€880 | +3.4% |
| Trade debts | 44 | €31,993 | €13,655 | -€18,338 | -57.3% |
| Suppliers | 440/4 | €31,993 | €13,655 | -€18,338 | -57.3% |
| Taxes, remuneration and social security | 45 | €19,488 | €18,543 | -€945 | -4.8% |
| Taxes | 450/3 | €19,488 | €18,543 | -€945 | -4.8% |
| Other amounts payable | 47/48 | - | €63,750 | +€63,750 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,653 | €39,300 | +€647 | +1.7% |
| Other operating charges | 640/8 | €1,534 | €2,812 | +€1,278 | +83.3% |
| Gross operating margin | 9900 | €83,890 | €72,138 | -€11,752 | -14.0% |
| Operating profit (loss) | 9901 | €43,703 | €30,026 | -€13,677 | -31.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €8,431 | €7,262 | -€1,168 | -13.9% |
| Recurring financial charges | 65 | €8,431 | €7,262 | -€1,168 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €35,272 | €22,763 | -€12,509 | -35.5% |
| Income taxes | 67/77 | €9,752 | €7,293 | -€2,459 | -25.2% |
| Profit (loss) for the period | 9904 | €25,520 | €15,470 | -€10,050 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €25,520 | €15,470 | -€10,050 | -39.4% |
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 19 October 2026 via checked.be.