Fulcra: what changed
Two financial 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.
Fulcra
Largest movements
- Cash -€245,784
down €245,784 (-65.5%), from €375,255 to €129,472
mainly Receivables within one year (-€141,095) and Contributions, distributions and other (-€120,000)
- Receivables within one year +€141,095
up €141,095 (+97.9%), from €144,097 to €285,192
of which Trade receivables: +€157,100
- Deferred charges and accrued income +€8,176
up €8,176 (+116%), from €7,055 to €15,230
- Trade debts -€61,037
down €61,037 (-28.4%), from €214,657 to €153,620
- Other debts -€48,000
down €48,000 (-32.0%), from €150,000 to €102,000
- Tax, wage and social debts +€15,040
up €15,040 (+62.6%), from €24,029 to €39,069
of which Taxes: +€14,002
- Reserves -€5,528
down €5,528 (-4.0%), from €136,920 to €131,392
- Gross operating margin -€72,828
down €72,828 (-17.7%), from €412,320 to €339,493
- Taxes -€20,892
down €20,892 (-33.9%), from €61,669 to €40,777
- Staff costs +€10,591
up €10,591 (+6.4%), from €165,000 to €175,590
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.
Derived cash bridge
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 | €537,626 | €438,307 | -€99,318 | -18.5% |
| Fixed assets | 21/28 | €11,219 | €8,414 | -€2,806 | -25.0% |
| Intangible fixed assets | 21 | €4,637 | €3,249 | -€1,388 | -29.9% |
| Tangible fixed assets | 22/27 | €6,583 | €5,165 | -€1,418 | -21.5% |
| Plant, machinery and equipment | 23 | €4,362 | €3,872 | -€490 | -11.2% |
| Furniture and vehicles | 24 | €2,220 | €1,293 | -€928 | -41.8% |
| Current assets | 29/58 | €526,406 | €429,894 | -€96,513 | -18.3% |
| Amounts receivable within one year | 40/41 | €144,097 | €285,192 | +€141,095 | +97.9% |
| Trade receivables | 40 | €110,759 | €267,859 | +€157,100 | +142% |
| Other amounts receivable | 41 | €33,338 | €17,333 | -€16,005 | -48.0% |
| Cash at bank and in hand | 54/58 | €375,255 | €129,472 | -€245,784 | -65.5% |
| Deferred charges and accrued income | 490/1 | €7,055 | €15,230 | +€8,176 | +116% |
| Total equity and liabilities | 10/49 | €537,626 | €438,307 | -€99,318 | -18.5% |
| Equity | 10/15 | €148,920 | €143,392 | -€5,528 | -3.7% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €136,920 | €131,392 | -€5,528 | -4.0% |
| Distributable reserves | 133 | €136,920 | €131,392 | -€5,528 | -4.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €388,705 | €294,915 | -€93,790 | -24.1% |
| Amounts payable within one year | 42/48 | €388,705 | €294,915 | -€93,790 | -24.1% |
| Financial debts | 43 | €20 | €226 | +€206 | +1,044% |
| Credit institutions | 430/8 | €20 | €226 | +€206 | +1,044% |
| Trade debts | 44 | €214,657 | €153,620 | -€61,037 | -28.4% |
| Suppliers | 440/4 | €214,657 | €153,620 | -€61,037 | -28.4% |
| Taxes, remuneration and social security | 45 | €24,029 | €39,069 | +€15,040 | +62.6% |
| Taxes | 450/3 | €2,955 | €16,956 | +€14,002 | +474% |
| Remuneration and social security | 454/9 | €21,074 | €22,113 | +€1,039 | +4.9% |
| Other amounts payable | 47/48 | €150,000 | €102,000 | -€48,000 | -32.0% |
| Remuneration, social security and pensions | 62 | €165,000 | €175,590 | +€10,591 | +6.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,631 | €2,806 | +€174 | +6.6% |
| Other operating charges | 640/8 | €651 | €675 | +€24 | +3.7% |
| Gross operating margin | 9900 | €412,320 | €339,493 | -€72,828 | -17.7% |
| Operating profit (loss) | 9901 | €244,039 | €160,422 | -€83,617 | -34.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,950 | €5,173 | +€1,223 | +31.0% |
| Recurring financial charges | 65 | €3,950 | €5,173 | +€1,223 | +31.0% |
| Profit (loss) for the period before taxes | 9903 | €240,089 | €155,249 | -€84,840 | -35.3% |
| Income taxes | 67/77 | €61,669 | €40,777 | -€20,892 | -33.9% |
| Profit (loss) for the period | 9904 | €178,420 | €114,472 | -€63,948 | -35.8% |
| Profit (loss) for the period to be appropriated | 9905 | €178,420 | €114,472 | -€63,948 | -35.8% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.