Fultun: 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.
Fultun
Largest movements
- Cash +€39,076
up €39,076 (+170%), from €23,043 to €62,119
mainly Other debts (+€65,553) and Net result for the year (+€44,485)
- Receivables within one year -€10,232
down €10,232 (-21.6%), from €47,327 to €37,096
of which Trade receivables: -€13,732
- Tangible fixed assets +€6,640
up €6,640 (+2,782%), from €239 to €6,879
- Other debts +€65,553
up €65,553 (+32,457%), from €202 to €65,755
- Reserves -€40,381
no longer reported in 2025 (was €40,381)
- Tax, wage and social debts +€10,127
up €10,127 (+39.1%), from €25,892 to €36,019
- Gross operating margin +€9,639
up €9,639 (+18.1%), from €53,268 to €62,907
- Taxes +€2,018
up €2,018 (+17.2%), from €11,733 to €13,751
- Financial charges +€1,760
up €1,760 (+559%), from €315 to €2,075
- Depreciation +€1,064
up €1,064 (+568%), from €188 to €1,252
- Staff costs +€679
up €679 (+473%), from €144 to €823
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 | €70,609 | €106,093 | +€35,484 | +50.3% |
| Fixed assets | 21/28 | €239 | €6,879 | +€6,640 | +2,782% |
| Tangible fixed assets | 22/27 | €239 | €6,879 | +€6,640 | +2,782% |
| Furniture and vehicles | 24 | €239 | €6,879 | +€6,640 | +2,782% |
| Current assets | 29/58 | €70,370 | €99,215 | +€28,844 | +41.0% |
| Amounts receivable within one year | 40/41 | €47,327 | €37,096 | -€10,232 | -21.6% |
| Trade receivables | 40 | €47,327 | €33,596 | -€13,732 | -29.0% |
| Other amounts receivable | 41 | - | €3,500 | +€3,500 | |
| Cash at bank and in hand | 54/58 | €23,043 | €62,119 | +€39,076 | +170% |
| Total equity and liabilities | 10/49 | €70,609 | €106,093 | +€35,484 | +50.3% |
| Equity | 10/15 | €41,881 | €1,500 | -€40,381 | -96.4% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Capital | 10 | €1,500 | €1,500 | = | 0.0% |
| Issued capital | 100 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €40,381 | - | -€40,381 | |
| Distributable reserves | 133 | €40,381 | - | -€40,381 | |
| Amounts payable | 17/49 | €28,728 | €104,593 | +€75,865 | +264% |
| Amounts payable within one year | 42/48 | €28,239 | €104,104 | +€75,865 | +269% |
| Trade debts | 44 | €2,146 | €2,331 | +€185 | +8.6% |
| Suppliers | 440/4 | €2,146 | €2,331 | +€185 | +8.6% |
| Taxes, remuneration and social security | 45 | €25,892 | €36,019 | +€10,127 | +39.1% |
| Taxes | 450/3 | €25,892 | €36,019 | +€10,127 | +39.1% |
| Other amounts payable | 47/48 | €202 | €65,755 | +€65,553 | +32,457% |
| Accrued charges and deferred income | 492/3 | €489 | €489 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €144 | €823 | +€679 | +473% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €188 | €1,252 | +€1,064 | +568% |
| Other operating charges | 640/8 | €508 | €521 | +€13 | +2.6% |
| Gross operating margin | 9900 | €53,268 | €62,907 | +€9,639 | +18.1% |
| Operating profit (loss) | 9901 | €52,429 | €60,312 | +€7,882 | +15.0% |
| Financial charges | 65/66B | €315 | €2,075 | +€1,760 | +559% |
| Recurring financial charges | 65 | €315 | €2,075 | +€1,760 | +559% |
| Profit (loss) for the period before taxes | 9903 | €52,114 | €58,237 | +€6,122 | +11.7% |
| Income taxes | 67/77 | €11,733 | €13,751 | +€2,018 | +17.2% |
| Profit (loss) for the period | 9904 | €40,381 | €44,485 | +€4,104 | +10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €40,381 | €44,485 | +€4,104 | +10.2% |
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 16 October 2026 via checked.be.