BULOTTE: 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.
BULOTTE
Largest movements
- Cash +€130,128
up €130,128 (+147.9%), from €87,974 to €218,103
mainly Accrued charges and deferred income (+€146,374) and Debts after one year (+€69,641)
- Tangible fixed assets +€59,706
up €59,706 (+198.6%), from €30,069 to €89,775
of which Furniture and vehicles: +€48,629
- Receivables within one year +€49,209
up €49,209 (+56.2%), from €87,591 to €136,800
of which Trade receivables: +€46,561
- Stocks and contracts +€23,700
new in 2026: €23,700
- Accrued charges and deferred income +€146,374
up €146,374 (+125266.2%), from €117 to €146,490
- Debts after one year +€69,641
up €69,641 (+225.8%), from €30,840 to €100,481
- Reserves +€41,581
up €41,581 (+55.9%), from €74,407 to €115,987
- Current portion of long-term debt +€20,448
up €20,448 (+221.0%), from €9,250 to €29,698
- Trade debts -€8,827
down €8,827 (-14.7%), from €59,931 to €51,104
- Staff costs +€193,276
up €193,276 (+499.6%), from €38,689 to €231,966
- Gross operating margin +€167,751
up €167,751 (+115.6%), from €145,101 to €312,852
- Depreciation +€12,222
up €12,222 (+459.5%), from €2,660 to €14,882
- Taxes -€7,974
down €7,974 (-30.4%), from €26,269 to €18,295
- Financial charges +€6,575
up €6,575 (+199.9%), from €3,289 to €9,864
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €213,652 | €480,480 | +€266,828 | +124.9% |
| Fixed assets | 21/28 | €30,069 | €89,910 | +€59,841 | +199.0% |
| Tangible fixed assets | 22/27 | €30,069 | €89,775 | +€59,706 | +198.6% |
| Land and buildings | 22 | €18,232 | €16,561 | -€1,671 | -9.2% |
| Plant, machinery and equipment | 23 | - | €12,748 | +€12,748 | |
| Furniture and vehicles | 24 | €11,837 | €60,466 | +€48,629 | +410.8% |
| Financial fixed assets | 28 | - | €135 | +€135 | |
| Current assets | 29/58 | €183,584 | €390,571 | +€206,987 | +112.7% |
| Stocks and contracts in progress | 3 | - | €23,700 | +€23,700 | |
| Stocks | 30/36 | - | €23,700 | +€23,700 | |
| Amounts receivable within one year | 40/41 | €87,591 | €136,800 | +€49,209 | +56.2% |
| Trade receivables | 40 | €79,221 | €125,782 | +€46,561 | +58.8% |
| Other amounts receivable | 41 | €8,370 | €11,017 | +€2,648 | +31.6% |
| Cash at bank and in hand | 54/58 | €87,974 | €218,103 | +€130,128 | +147.9% |
| Deferred charges and accrued income | 490/1 | €8,018 | €11,968 | +€3,950 | +49.3% |
| Total equity and liabilities | 10/49 | €213,652 | €480,480 | +€266,828 | +124.9% |
| Equity | 10/15 | €76,407 | €117,987 | +€41,581 | +54.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €74,407 | €115,987 | +€41,581 | +55.9% |
| Distributable reserves | 133 | €74,407 | €115,987 | +€41,581 | +55.9% |
| Amounts payable | 17/49 | €137,245 | €362,493 | +€225,247 | +164.1% |
| Amounts payable after more than one year | 17 | €30,840 | €100,481 | +€69,641 | +225.8% |
| Financial debts | 170/4 | €30,840 | €100,481 | +€69,641 | +225.8% |
| Amounts payable within one year | 42/48 | €106,289 | €115,521 | +€9,232 | +8.7% |
| Current portion of amounts payable after more than one year | 42 | €9,250 | €29,698 | +€20,448 | +221.0% |
| Trade debts | 44 | €59,931 | €51,104 | -€8,827 | -14.7% |
| Suppliers | 440/4 | €59,931 | €51,104 | -€8,827 | -14.7% |
| Taxes, remuneration and social security | 45 | €36,015 | €34,719 | -€1,296 | -3.6% |
| Taxes | 450/3 | €24,391 | €18,021 | -€6,370 | -26.1% |
| Remuneration and social security | 454/9 | €11,624 | €16,698 | +€5,074 | +43.7% |
| Other amounts payable | 47/48 | €1,092 | - | -€1,092 | |
| Accrued charges and deferred income | 492/3 | €117 | €146,490 | +€146,374 | +125266.2% |
| Remuneration, social security and pensions | 62 | €38,689 | €231,966 | +€193,276 | +499.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,660 | €14,882 | +€12,222 | +459.5% |
| Other operating charges | 640/8 | €387 | €150 | -€237 | -61.3% |
| Gross operating margin | 9900 | €145,101 | €312,852 | +€167,751 | +115.6% |
| Operating profit (loss) | 9901 | €103,364 | €65,854 | -€37,510 | -36.3% |
| Financial income | 75/76B | €601 | €3,886 | +€3,284 | +546.3% |
| Recurring financial income | 75 | €601 | €3,886 | +€3,284 | +546.3% |
| Financial charges | 65/66B | €3,289 | €9,864 | +€6,575 | +199.9% |
| Recurring financial charges | 65 | €3,289 | €9,864 | +€6,575 | +199.9% |
| Profit (loss) for the period before taxes | 9903 | €100,676 | €59,875 | -€40,801 | -40.5% |
| Income taxes | 67/77 | €26,269 | €18,295 | -€7,974 | -30.4% |
| Profit (loss) for the period | 9904 | €74,407 | €41,581 | -€32,826 | -44.1% |
| Profit (loss) for the period to be appropriated | 9905 | €74,407 | €41,581 | -€32,826 | -44.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.