Bultinck Advisory: what changed
What changed
Bultinck Advisory
NACE 69.101, Activities of lawyers
filed annual accounts (NBB)
Net result for the year
€62,588
2024 · €147,098-€84,510
Equity
€549,958
2024 · €561,438-€11,481
Cash
€36,636
2024 · €12,132+€24,504
Balance sheet total
€563,413
2024 · €579,039-€15,626
Largest movements
Assets
- Current investments -€46,107
down €46,107 (-8.4%), from €548,029 to €501,922
- Cash +€24,504
up €24,504 (+202%), from €12,132 to €36,636
mainly Net result for the year (+€62,588) and Current investments (+€46,107)
- Receivables within one year +€8,253
up €8,253 (+113%), from €7,314 to €15,567
of which Trade receivables: +€9,883
Equity and liabilities
- Reserves -€11,481
down €11,481 (-2.1%), from €542,838 to €531,358
Income statement
- Gross operating margin -€122,836
down €122,836 (-58.3%), from €210,626 to €87,790
- Taxes -€33,208
down €33,208 (-52.4%), from €63,346 to €30,138
- Financial income +€4,350
up €4,350 (+99.9%), from €4,355 to €8,705
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
€147,098
Gross operating margin
-€122,836
Depreciation
-€90
Other operating charges
+€861
Financial income
+€4,350
Financial charges
-€2
Taxes
+€33,208
Result 2025
€62,588
raises the resultlowers the result
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
+€52,466
Investment
+€46,107
Financing
-€74,069
Cash 2024
€12,132
From operations (derived)
+€52,466
Net result for the year
+€62,588
Depreciation
+€2,275
Receivables within one year
-€8,253
Trade debts
+€22
Tax, wage and social debts
-€2,331
Other debts
-€1,836
Investment (derived)
+€46,107
Current investments
+€46,107
Financing
-€74,069
Contributions, distributions and other
-€74,069
Cash 2025
€36,636
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €579,039 | €563,413 | -€15,626 | -2.7% |
| Fixed assets | 21/28 | €11,564 | €9,288 | -€2,275 | -19.7% |
| Tangible fixed assets | 22/27 | €11,559 | €9,284 | -€2,275 | -19.7% |
| Plant, machinery and equipment | 23 | €3,371 | €2,490 | -€881 | -26.1% |
| Furniture and vehicles | 24 | €5,488 | €4,094 | -€1,394 | -25.4% |
| Other tangible fixed assets | 26 | €2,700 | €2,700 | = | 0.0% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €567,476 | €554,125 | -€13,350 | -2.4% |
| Amounts receivable within one year | 40/41 | €7,314 | €15,567 | +€8,253 | +113% |
| Trade receivables | 40 | €1,954 | €11,837 | +€9,883 | +506% |
| Other amounts receivable | 41 | €5,360 | €3,730 | -€1,630 | -30.4% |
| Current investments | 50/53 | €548,029 | €501,922 | -€46,107 | -8.4% |
| Cash at bank and in hand | 54/58 | €12,132 | €36,636 | +€24,504 | +202% |
| Total equity and liabilities | 10/49 | €579,039 | €563,413 | -€15,626 | -2.7% |
| Equity | 10/15 | €561,438 | €549,958 | -€11,481 | -2.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €542,838 | €531,358 | -€11,481 | -2.1% |
| Distributable reserves | 133 | €542,838 | €531,358 | -€11,481 | -2.1% |
| Amounts payable | 17/49 | €17,601 | €13,456 | -€4,145 | -23.5% |
| Amounts payable within one year | 42/48 | €17,601 | €13,456 | -€4,145 | -23.5% |
| Trade debts | 44 | €87 | €109 | +€22 | +25.8% |
| Suppliers | 440/4 | €87 | €109 | +€22 | +25.8% |
| Taxes, remuneration and social security | 45 | €15,498 | €13,167 | -€2,331 | -15.0% |
| Taxes | 450/3 | €15,498 | €13,167 | -€2,331 | -15.0% |
| Other amounts payable | 47/48 | €2,016 | €179 | -€1,836 | -91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,185 | €2,275 | +€90 | +4.1% |
| Other operating charges | 640/8 | €2,288 | €1,427 | -€861 | -37.6% |
| Gross operating margin | 9900 | €210,626 | €87,790 | -€122,836 | -58.3% |
| Operating profit (loss) | 9901 | €206,153 | €84,088 | -€122,065 | -59.2% |
| Financial income | 75/76B | €4,355 | €8,705 | +€4,350 | +99.9% |
| Recurring financial income | 75 | €4,355 | €8,705 | +€4,350 | +99.9% |
| Financial charges | 65/66B | €64 | €66 | +€2 | +3.6% |
| Recurring financial charges | 65 | €64 | €66 | +€2 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €210,445 | €92,727 | -€117,718 | -55.9% |
| Income taxes | 67/77 | €63,346 | €30,138 | -€33,208 | -52.4% |
| Profit (loss) for the period | 9904 | €147,098 | €62,588 | -€84,510 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €147,098 | €62,588 | -€84,510 | -57.5% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.