BULTINO: what changed
What changed
BULTINO
NACE 41.003, General construction of other non-residential buildings
filed annual accounts (NBB)
Net result for the year
€103,297
2024 · €241+€103,056
Equity
€474,218
2024 · €370,921+€103,297
Cash
€92,157
2024 · €13,115+€79,042
Balance sheet total
€936,433
2024 · €1.1m-€149,925
Largest movements
Assets
- Stocks and contracts -€479,600
down €479,600 (-83.3%), from €576,000 to €96,400
- Receivables within one year +€203,177
up €203,177 (+41.1%), from €494,358 to €697,535
of which Other amounts receivable: +€127,724
- Cash +€79,042
up €79,042 (+603%), from €13,115 to €92,157
mainly Stocks and contracts (+€479,600) and Net result for the year (+€103,297)
- Tangible fixed assets +€45,028
new in 2025: €45,028
Equity and liabilities
- Other debts -€187,881
down €187,881 (-70.1%), from €268,182 to €80,301
- Profit (loss) carried forward +€103,297
up €103,297 (+214%), from €48,380 to €151,678
- Short-term financial debts -€100,000
down €100,000 (-40.0%), from €250,000 to €150,000
- Debts after one year +€32,602
up €32,602 (+22.5%), from €145,110 to €177,712
- Trade debts -€20,091
down €20,091 (-43.8%), from €45,890 to €25,799
Income statement
- Gross operating margin +€152,701
up €152,701 (+1,050%), from €14,546 to €167,247
- Taxes +€37,203
up €37,203 (+4,515%), from €824 to €38,027
- Depreciation +€9,756
new in 2025: €9,756
- Other operating charges +€2,689
up €2,689 (+274%), from €982 to €3,671
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
€241
Gross operating margin
+€152,701
Depreciation
-€9,756
Other operating charges
-€2,689
Financial income
+€457
Financial charges
-€453
Taxes
-€37,203
Result 2025
€103,297
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
+€191,606
Investment
-€54,784
Financing
-€57,780
Cash 2024
€13,115
From operations (derived)
+€191,606
Net result for the year
+€103,297
Depreciation
+€9,756
Stocks and contracts
+€479,600
Receivables within one year
-€203,177
Deferred charges and accrued income
-€2,428
Trade debts
-€20,091
Tax, wage and social debts
+€12,530
Other debts
-€187,881
Investment (derived)
-€54,784
Investment in fixed assets (net)
-€54,784
Financing
-€57,780
Debts after one year
+€32,602
Current portion of long-term debt
+€9,618
Short-term financial debts
-€100,000
Cash 2025
€92,157
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,086,357 | €936,433 | -€149,925 | -13.8% |
| Fixed assets | 21/28 | - | €45,028 | +€45,028 | |
| Tangible fixed assets | 22/27 | - | €45,028 | +€45,028 | |
| Furniture and vehicles | 24 | - | €45,028 | +€45,028 | |
| Current assets | 29/58 | €1,086,357 | €891,405 | -€194,953 | -17.9% |
| Stocks and contracts in progress | 3 | €576,000 | €96,400 | -€479,600 | -83.3% |
| Contracts in progress | 37 | €576,000 | €96,400 | -€479,600 | -83.3% |
| Amounts receivable within one year | 40/41 | €494,358 | €697,535 | +€203,177 | +41.1% |
| Trade receivables | 40 | €101,505 | €176,958 | +€75,453 | +74.3% |
| Other amounts receivable | 41 | €392,853 | €520,577 | +€127,724 | +32.5% |
| Cash at bank and in hand | 54/58 | €13,115 | €92,157 | +€79,042 | +603% |
| Deferred charges and accrued income | 490/1 | €2,884 | €5,313 | +€2,428 | +84.2% |
| Total equity and liabilities | 10/49 | €1,086,357 | €936,433 | -€149,925 | -13.8% |
| Equity | 10/15 | €370,921 | €474,218 | +€103,297 | +27.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €316,340 | €316,340 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €314,480 | €314,480 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,380 | €151,678 | +€103,297 | +214% |
| Amounts payable | 17/49 | €715,436 | €462,215 | -€253,222 | -35.4% |
| Amounts payable after more than one year | 17 | €145,110 | €177,712 | +€32,602 | +22.5% |
| Financial debts | 170/4 | €145,110 | €177,712 | +€32,602 | +22.5% |
| Amounts payable within one year | 42/48 | €570,326 | €284,503 | -€285,824 | -50.1% |
| Current portion of amounts payable after more than one year | 42 | - | €9,618 | +€9,618 | |
| Financial debts | 43 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Credit institutions | 430/8 | €250,000 | €150,000 | -€100,000 | -40.0% |
| Trade debts | 44 | €45,890 | €25,799 | -€20,091 | -43.8% |
| Suppliers | 440/4 | €45,890 | €25,799 | -€20,091 | -43.8% |
| Taxes, remuneration and social security | 45 | €6,254 | €18,784 | +€12,530 | +200% |
| Taxes | 450/3 | €6,254 | €18,784 | +€12,530 | +200% |
| Other amounts payable | 47/48 | €268,182 | €80,301 | -€187,881 | -70.1% |
| Non-recurring operating income | 76A | €0 | €1,240 | +€1,240 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €9,756 | +€9,756 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €982 | €3,671 | +€2,689 | +274% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €14,546 | €167,247 | +€152,701 | +1,050% |
| Operating profit (loss) | 9901 | €13,564 | €153,819 | +€140,255 | +1,034% |
| Financial income | 75/76B | €221 | €679 | +€457 | +207% |
| Recurring financial income | 75 | €221 | €679 | +€457 | +207% |
| Financial charges | 65/66B | €12,720 | €13,173 | +€453 | +3.6% |
| Recurring financial charges | 65 | €12,720 | €13,173 | +€453 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €1,065 | €141,325 | +€140,259 | +13,167% |
| Income taxes | 67/77 | €824 | €38,027 | +€37,203 | +4,515% |
| Profit (loss) for the period | 9904 | €241 | €103,297 | +€103,056 | +42,700% |
| Profit (loss) for the period to be appropriated | 9905 | €241 | €103,297 | +€103,056 | +42,700% |
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.