BULLIT: 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.
BULLIT
Largest movements
- Receivables within one year -€6,539
down €6,539 (-92.9%), from €7,039 to €500
of which Other amounts receivable: -€6,370
- Deferred charges and accrued income +€4,639
up €4,639 (+36.2%), from €12,809 to €17,448
- Cash -€3,949
down €3,949 (-3.1%), from €126,363 to €122,414
mainly Trade debts (-€15,955) and Tax, wage and social debts (-€14,321)
- Financial fixed assets -€3,830
no longer reported in 2025 (was €3,830)
- Tangible fixed assets -€3,631
down €3,631 (-96.3%), from €3,770 to €139
of which Furniture and vehicles: -€3,313
- Reserves +€16,000
up €16,000 (+11.0%), from €146,000 to €162,000
- Trade debts -€15,955
down €15,955 (-87.5%), from €18,243 to €2,288
- Tax, wage and social debts -€14,321
down €14,321 (-72.7%), from €19,698 to €5,377
of which Remuneration and social security: -€13,976
- Gross operating margin -€114,763
down €114,763 (-83.3%), from €137,839 to €23,076
- Staff costs -€68,852
down €68,852 (-99.7%), from €69,048 to €196
- Taxes -€14,138
down €14,138 (-61.5%), from €22,980 to €8,842
- Depreciation -€4,025
down €4,025 (-92.8%), from €4,337 to €312
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 | €254,327 | €240,501 | -€13,826 | -5.4% |
| Fixed assets | 21/28 | €7,600 | €139 | -€7,461 | -98.2% |
| Tangible fixed assets | 22/27 | €3,770 | €139 | -€3,631 | -96.3% |
| Plant, machinery and equipment | 23 | €457 | €139 | -€318 | -69.6% |
| Furniture and vehicles | 24 | €3,313 | €0 | -€3,313 | -100% |
| Financial fixed assets | 28 | €3,830 | - | -€3,830 | |
| Current assets | 29/58 | €246,727 | €240,362 | -€6,365 | -2.6% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €516 | - | -€516 | |
| Stocks | 30/36 | €516 | - | -€516 | |
| Amounts receivable within one year | 40/41 | €7,039 | €500 | -€6,539 | -92.9% |
| Trade receivables | 40 | €169 | - | -€169 | |
| Other amounts receivable | 41 | €6,870 | €500 | -€6,370 | -92.7% |
| Cash at bank and in hand | 54/58 | €126,363 | €122,414 | -€3,949 | -3.1% |
| Deferred charges and accrued income | 490/1 | €12,809 | €17,448 | +€4,639 | +36.2% |
| Total equity and liabilities | 10/49 | €254,327 | €240,501 | -€13,826 | -5.4% |
| Equity | 10/15 | €215,151 | €231,601 | +€16,450 | +7.6% |
| Contributions | 10/11 | €61,974 | €61,974 | = | 0.0% |
| Capital | 10 | €61,974 | €61,974 | = | 0.0% |
| Issued capital | 100 | €61,974 | €61,974 | = | 0.0% |
| Reserves | 13 | €146,000 | €162,000 | +€16,000 | +11.0% |
| Distributable reserves | 133 | €146,000 | €162,000 | +€16,000 | +11.0% |
| Profit (loss) carried forward | 14 | €7,177 | €7,627 | +€450 | +6.3% |
| Amounts payable | 17/49 | €39,176 | €8,900 | -€30,276 | -77.3% |
| Amounts payable within one year | 42/48 | €39,176 | €8,900 | -€30,276 | -77.3% |
| Trade debts | 44 | €18,243 | €2,288 | -€15,955 | -87.5% |
| Suppliers | 440/4 | €18,243 | €2,288 | -€15,955 | -87.5% |
| Taxes, remuneration and social security | 45 | €19,698 | €5,377 | -€14,321 | -72.7% |
| Taxes | 450/3 | €5,722 | €5,377 | -€345 | -6.0% |
| Remuneration and social security | 454/9 | €13,976 | - | -€13,976 | |
| Other amounts payable | 47/48 | €1,235 | €1,235 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €69,048 | €196 | -€68,852 | -99.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,337 | €312 | -€4,025 | -92.8% |
| Other operating charges | 640/8 | €2,899 | €2,950 | +€51 | +1.8% |
| Gross operating margin | 9900 | €137,839 | €23,076 | -€114,763 | -83.3% |
| Operating profit (loss) | 9901 | €61,555 | €19,618 | -€41,937 | -68.1% |
| Financial income | 75/76B | €6,040 | €6,199 | +€159 | +2.6% |
| Recurring financial income | 75 | €6,040 | €6,199 | +€159 | +2.6% |
| Financial charges | 65/66B | €729 | €525 | -€204 | -28.0% |
| Recurring financial charges | 65 | €449 | €525 | +€76 | +16.9% |
| Non-recurring financial charges | 66B | €280 | - | -€280 | |
| Profit (loss) for the period before taxes | 9903 | €66,866 | €25,292 | -€41,574 | -62.2% |
| Income taxes | 67/77 | €22,980 | €8,842 | -€14,138 | -61.5% |
| Profit (loss) for the period | 9904 | €43,886 | €16,450 | -€27,436 | -62.5% |
| Profit (loss) for the period to be appropriated | 9905 | €43,886 | €16,450 | -€27,436 | -62.5% |
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 23 October 2026 via checked.be.