Buls Consult: 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.
Buls Consult
Largest movements
- Cash +€32,049
up €32,049 (+27.3%), from €117,348 to €149,397
mainly Net result for the year (+€26,458) and Tax, wage and social debts (+€5,083)
- Reserves +€26,458
up €26,458 (+21.8%), from €121,263 to €147,721
- Tax, wage and social debts +€5,083
up €5,083 (+90.3%), from €5,627 to €10,710
- Gross operating margin -€1,509
down €1,509 (-3.7%), from €41,112 to €39,603
- Depreciation -€609
down €609 (-33.7%), from €1,807 to €1,198
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.
Cash bridge derived
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 | €130,124 | €161,727 | +€31,603 | +24.3% |
| Fixed assets | 21/28 | €3,459 | €2,261 | -€1,198 | -34.6% |
| Tangible fixed assets | 22/27 | €3,459 | €2,261 | -€1,198 | -34.6% |
| Plant, machinery and equipment | 23 | €3,386 | €2,261 | -€1,125 | -33.2% |
| Furniture and vehicles | 24 | €73 | €0 | -€73 | -100.0% |
| Current assets | 29/58 | €126,664 | €159,466 | +€32,802 | +25.9% |
| Amounts receivable within one year | 40/41 | €7,966 | €9,162 | +€1,196 | +15.0% |
| Trade receivables | 40 | €7,865 | €7,079 | -€787 | -10.0% |
| Other amounts receivable | 41 | €101 | €2,083 | +€1,982 | +1957.1% |
| Cash at bank and in hand | 54/58 | €117,348 | €149,397 | +€32,049 | +27.3% |
| Deferred charges and accrued income | 490/1 | €1,351 | €908 | -€443 | -32.8% |
| Total equity and liabilities | 10/49 | €130,124 | €161,727 | +€31,603 | +24.3% |
| Equity | 10/15 | €123,263 | €149,721 | +€26,458 | +21.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €121,263 | €147,721 | +€26,458 | +21.8% |
| Distributable reserves | 133 | €121,263 | €147,721 | +€26,458 | +21.8% |
| Amounts payable | 17/49 | €6,860 | €12,006 | +€5,145 | +75.0% |
| Amounts payable within one year | 42/48 | €6,860 | €12,006 | +€5,145 | +75.0% |
| Trade debts | 44 | €1,234 | €1,296 | +€62 | +5.1% |
| Suppliers | 440/4 | €1,234 | €1,296 | +€62 | +5.1% |
| Taxes, remuneration and social security | 45 | €5,627 | €10,710 | +€5,083 | +90.3% |
| Taxes | 450/3 | €5,627 | €10,710 | +€5,083 | +90.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,807 | €1,198 | -€609 | -33.7% |
| Other operating charges | 640/8 | €1,175 | €783 | -€392 | -33.3% |
| Gross operating margin | 9900 | €41,112 | €39,603 | -€1,509 | -3.7% |
| Operating profit (loss) | 9901 | €38,130 | €37,621 | -€509 | -1.3% |
| Financial income | 75/76B | €0 | €47 | +€47 | +470100.0% |
| Recurring financial income | 75 | €0 | €47 | +€47 | +470100.0% |
| Financial charges | 65/66B | €544 | €363 | -€182 | -33.4% |
| Recurring financial charges | 65 | €544 | €363 | -€182 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €37,586 | €37,306 | -€280 | -0.7% |
| Income taxes | 67/77 | €10,957 | €10,848 | -€109 | -1.0% |
| Profit (loss) for the period | 9904 | €26,629 | €26,458 | -€171 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,629 | €26,458 | -€171 | -0.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.