BULS BV: what changed
BULS BV
Largest movements
- Cash +€10,673
up €10,673 (+63.2%), from €16,880 to €27,553
mainly Net result for the year (+€18,353) and Depreciation (+€4,875)
- Receivables within one year +€1,437
up €1,437 (+8.2%), from €17,468 to €18,905
of which Other amounts receivable: +€1,113
- Tangible fixed assets +€1,005
up €1,005 (+11.8%), from €8,510 to €9,515
of which Plant, machinery and equipment: +€4,662
- Reserves +€18,353
up €18,353 (+124%), from €14,814 to €33,167
- Trade debts -€7,216
down €7,216 (-68.7%), from €10,501 to €3,285
- Tax, wage and social debts +€1,929
up €1,929 (+36.4%), from €5,293 to €7,222
- Current portion of long-term debt +€1,013
up €1,013 (+22.1%), from €4,585 to €5,598
- Debts after one year -€965
down €965 (-26.3%), from €3,665 to €2,700
- Gross operating margin +€30,797
up €30,797, from -€31 to €30,766
- Taxes +€5,587
up €5,587 (+6,275%), from €89 to €5,676
- Other operating charges -€1,803
down €1,803 (-55.8%), from €3,234 to €1,431
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €42,858 | €55,973 | +€13,115 | +30.6% |
| Fixed assets | 21/28 | €8,510 | €9,515 | +€1,005 | +11.8% |
| Tangible fixed assets | 22/27 | €8,510 | €9,515 | +€1,005 | +11.8% |
| Plant, machinery and equipment | 23 | €1,456 | €6,118 | +€4,662 | +320% |
| Furniture and vehicles | 24 | €7,054 | €3,397 | -€3,657 | -51.8% |
| Current assets | 29/58 | €34,348 | €46,458 | +€12,110 | +35.3% |
| Amounts receivable within one year | 40/41 | €17,468 | €18,905 | +€1,437 | +8.2% |
| Trade receivables | 40 | €14,788 | €15,112 | +€324 | +2.2% |
| Other amounts receivable | 41 | €2,680 | €3,793 | +€1,113 | +41.5% |
| Cash at bank and in hand | 54/58 | €16,880 | €27,553 | +€10,673 | +63.2% |
| Total equity and liabilities | 10/49 | €42,858 | €55,973 | +€13,115 | +30.6% |
| Equity | 10/15 | €18,814 | €37,167 | +€18,353 | +97.6% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €14,814 | €33,167 | +€18,353 | +124% |
| Distributable reserves | 133 | €14,814 | €33,167 | +€18,353 | +124% |
| Amounts payable | 17/49 | €24,044 | €18,806 | -€5,238 | -21.8% |
| Amounts payable after more than one year | 17 | €3,665 | €2,700 | -€965 | -26.3% |
| Financial debts | 170/4 | €3,665 | €2,700 | -€965 | -26.3% |
| Amounts payable within one year | 42/48 | €20,379 | €16,105 | -€4,274 | -21.0% |
| Current portion of amounts payable after more than one year | 42 | €4,585 | €5,598 | +€1,013 | +22.1% |
| Trade debts | 44 | €10,501 | €3,285 | -€7,216 | -68.7% |
| Suppliers | 440/4 | €10,501 | €3,285 | -€7,216 | -68.7% |
| Taxes, remuneration and social security | 45 | €5,293 | €7,222 | +€1,929 | +36.4% |
| Taxes | 450/3 | €5,293 | €7,222 | +€1,929 | +36.4% |
| Non-recurring operating income | 76A | €3,438 | - | -€3,438 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,942 | €4,875 | -€67 | -1.4% |
| Other operating charges | 640/8 | €3,234 | €1,431 | -€1,803 | -55.8% |
| Gross operating margin | 9900 | -€31 | €30,766 | +€30,797 | |
| Operating profit (loss) | 9901 | -€8,207 | €24,460 | +€32,667 | |
| Financial income | 75/76B | €9 | €176 | +€166 | +1,755% |
| Recurring financial income | 75 | €9 | €176 | +€166 | +1,755% |
| Financial charges | 65/66B | €477 | €606 | +€129 | +27.0% |
| Recurring financial charges | 65 | €477 | €606 | +€129 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,675 | €24,029 | +€32,705 | |
| Income taxes | 67/77 | €89 | €5,676 | +€5,587 | +6,275% |
| Profit (loss) for the period | 9904 | -€8,764 | €18,353 | +€27,118 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,764 | €18,353 | +€27,118 |
Next steps
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 2 November 2026 via checked.be.