Bully: what changed
What changed
Bully
NACE 43.120, Site preparation
filed annual accounts (NBB)
Net result for the year
-€3,512
2024 · €17,813-€21,325
Equity
€16,468
2024 · €19,980-€3,512
Cash
€22,834
2024 · €7,369+€15,465
Balance sheet total
€203,921
2024 · €84,204+€119,717
Largest movements
Assets
- Tangible fixed assets +€77,057
up €77,057 (+138%), from €55,980 to €133,037
- Receivables within one year +€23,857
up €23,857 (+130%), from €18,404 to €42,260
of which Trade receivables: +€23,420
- Cash +€15,465
up €15,465 (+210%), from €7,369 to €22,834
mainly Debts after one year (+€64,537) and Trade debts (+€27,642)
Equity and liabilities
- Debts after one year +€64,537
up €64,537 (+157%), from €41,032 to €105,570
- Trade debts +€27,642
up €27,642 (+415%), from €6,664 to €34,307
- Current portion of long-term debt +€19,667
up €19,667 (+203%), from €9,676 to €29,343
- Tax, wage and social debts +€7,890
up €7,890 (+135%), from €5,851 to €13,741
of which Taxes: +€8,890
- Other debts +€3,656
up €3,656 (+439%), from €833 to €4,489
Income statement
- Depreciation +€17,066
up €17,066 (+368%), from €4,643 to €21,710
- Taxes -€5,199
no longer reported in 2025 (was €5,199)
- Financial charges +€4,782
up €4,782 (+608%), from €786 to €5,568
- Gross operating margin -€2,615
down €2,615 (-9.1%), from €28,897 to €26,281
- Other operating charges +€789
up €789 (+168%), from €471 to €1,260
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€17,813
Gross operating margin
-€2,615
Staff costs
-€566
Depreciation
-€17,066
Other operating charges
-€789
Other operating items
-€743
Financial income
+€37
Financial charges
-€4,782
Taxes
+€5,199
Result 2025
-€3,512
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€31,483
Investment
-€100,227
Financing
+€84,209
Cash 2024
€7,369
From operations (derived)
+€31,483
Net result for the year
-€3,512
Depreciation
+€21,710
Receivables within one year
-€23,857
Deferred charges and accrued income
-€1,878
Trade debts
+€27,642
Tax, wage and social debts
+€7,890
Other debts
+€3,656
Accrued charges and deferred income
-€168
Investment (derived)
-€100,227
Investment in fixed assets (net)
-€100,227
Financing
+€84,209
Debts after one year
+€64,537
Current portion of long-term debt
+€19,667
Short-term financial debts
+€5
Cash 2025
€22,834
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,204 | €203,921 | +€119,717 | +142% |
| Fixed assets | 21/28 | €58,230 | €136,748 | +€78,517 | +135% |
| Intangible fixed assets | 21 | - | €1,460 | +€1,460 | |
| Tangible fixed assets | 22/27 | €55,980 | €133,037 | +€77,057 | +138% |
| Plant, machinery and equipment | 23 | €1,698 | €39,624 | +€37,925 | +2,233% |
| Furniture and vehicles | 24 | €53,261 | €85,902 | +€32,641 | +61.3% |
| Leasing and similar rights | 25 | - | €6,735 | +€6,735 | |
| Other tangible fixed assets | 26 | €1,021 | €777 | -€244 | -23.9% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €25,974 | €67,174 | +€41,200 | +159% |
| Amounts receivable within one year | 40/41 | €18,404 | €42,260 | +€23,857 | +130% |
| Trade receivables | 40 | €17,929 | €41,350 | +€23,420 | +131% |
| Other amounts receivable | 41 | €475 | €911 | +€436 | +91.9% |
| Cash at bank and in hand | 54/58 | €7,369 | €22,834 | +€15,465 | +210% |
| Deferred charges and accrued income | 490/1 | €201 | €2,079 | +€1,878 | +933% |
| Total equity and liabilities | 10/49 | €84,204 | €203,921 | +€119,717 | +142% |
| Equity | 10/15 | €19,980 | €16,468 | -€3,512 | -17.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,980 | €16,980 | = | 0.0% |
| Distributable reserves | 133 | €16,980 | €16,980 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€3,512 | -€3,512 | |
| Amounts payable | 17/49 | €64,224 | €187,454 | +€123,229 | +192% |
| Amounts payable after more than one year | 17 | €41,032 | €105,570 | +€64,537 | +157% |
| Financial debts | 170/4 | €41,032 | €105,570 | +€64,537 | +157% |
| Amounts payable within one year | 42/48 | €23,024 | €81,884 | +€58,860 | +256% |
| Current portion of amounts payable after more than one year | 42 | €9,676 | €29,343 | +€19,667 | +203% |
| Financial debts | 43 | - | €5 | +€5 | |
| Credit institutions | 430/8 | - | €5 | +€5 | |
| Trade debts | 44 | €6,664 | €34,307 | +€27,642 | +415% |
| Suppliers | 440/4 | €6,664 | €34,307 | +€27,642 | +415% |
| Taxes, remuneration and social security | 45 | €5,851 | €13,741 | +€7,890 | +135% |
| Taxes | 450/3 | €2,850 | €11,741 | +€8,890 | +312% |
| Remuneration and social security | 454/9 | €3,000 | €2,000 | -€1,000 | -33.3% |
| Other amounts payable | 47/48 | €833 | €4,489 | +€3,656 | +439% |
| Accrued charges and deferred income | 492/3 | €168 | - | -€168 | |
| Remuneration, social security and pensions | 62 | - | €566 | +€566 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,643 | €21,710 | +€17,066 | +368% |
| Other operating charges | 640/8 | €471 | €1,260 | +€789 | +168% |
| Non-recurring operating charges | 66A | - | €743 | +€743 | |
| Gross operating margin | 9900 | €28,897 | €26,281 | -€2,615 | -9.1% |
| Operating profit (loss) | 9901 | €23,783 | €2,003 | -€21,780 | -91.6% |
| Financial income | 75/76B | €16 | €54 | +€37 | +231% |
| Recurring financial income | 75 | €16 | €54 | +€37 | +231% |
| Financial charges | 65/66B | €786 | €5,568 | +€4,782 | +608% |
| Recurring financial charges | 65 | €786 | €5,568 | +€4,782 | +608% |
| Profit (loss) for the period before taxes | 9903 | €23,013 | -€3,512 | -€26,525 | |
| Income taxes | 67/77 | €5,199 | - | -€5,199 | |
| Profit (loss) for the period | 9904 | €17,813 | -€3,512 | -€21,325 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,813 | -€3,512 | -€21,325 |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.