LES SOURCES DU BULTIA: 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.
LES SOURCES DU BULTIA
Largest movements
- Tangible fixed assets -€38,053
down €38,053 (-8.4%), from €450,849 to €412,796
- Receivables within one year +€23,939
up €23,939 (+22.4%), from €106,894 to €130,833
of which Other amounts receivable: +€18,250
- Cash -€13,712
down €13,712 (-64.2%), from €21,368 to €7,656
mainly Other debts (-€38,531) and Receivables within one year (-€23,939)
- Other debts -€38,531
down €38,531 (-6.1%), from €633,274 to €594,743
- Profit (loss) carried forward +€13,332
up €13,332 (+15.6%), from -€85,420 to -€72,088
- Staff costs +€10,681
up €10,681 (+17.7%), from €60,209 to €70,890
- Gross operating margin -€2,324
down €2,324 (-1.6%), from €149,176 to €146,852
- Financial charges -€2,147
down €2,147 (-8.2%), from €26,219 to €24,073
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 | €579,632 | €551,806 | -€27,826 | -4.8% |
| Fixed assets | 21/28 | €450,979 | €412,926 | -€38,053 | -8.4% |
| Tangible fixed assets | 22/27 | €450,849 | €412,796 | -€38,053 | -8.4% |
| Furniture and vehicles | 24 | €450,849 | €412,796 | -€38,053 | -8.4% |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €128,653 | €138,880 | +€10,226 | +7.9% |
| Amounts receivable within one year | 40/41 | €106,894 | €130,833 | +€23,939 | +22.4% |
| Trade receivables | 40 | €26,736 | €32,425 | +€5,689 | +21.3% |
| Other amounts receivable | 41 | €80,158 | €98,408 | +€18,250 | +22.8% |
| Cash at bank and in hand | 54/58 | €21,368 | €7,656 | -€13,712 | -64.2% |
| Deferred charges and accrued income | 490/1 | €391 | €391 | -€1 | -0.2% |
| Total equity and liabilities | 10/49 | €579,632 | €551,806 | -€27,826 | -4.8% |
| Equity | 10/15 | -€73,020 | -€59,688 | +€13,332 | +18.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,420 | -€72,088 | +€13,332 | +15.6% |
| Amounts payable | 17/49 | €652,652 | €611,494 | -€41,158 | -6.3% |
| Amounts payable within one year | 42/48 | €652,652 | €611,494 | -€41,158 | -6.3% |
| Trade debts | 44 | €12,492 | €9,794 | -€2,698 | -21.6% |
| Suppliers | 440/4 | €12,492 | €9,794 | -€2,698 | -21.6% |
| Taxes, remuneration and social security | 45 | €6,886 | €6,957 | +€70 | +1.0% |
| Remuneration and social security | 454/9 | €6,886 | €6,957 | +€70 | +1.0% |
| Other amounts payable | 47/48 | €633,274 | €594,743 | -€38,531 | -6.1% |
| Remuneration, social security and pensions | 62 | €60,209 | €70,890 | +€10,681 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,053 | €38,053 | = | 0.0% |
| Other operating charges | 640/8 | €387 | €505 | +€117 | +30.3% |
| Gross operating margin | 9900 | €149,176 | €146,852 | -€2,324 | -1.6% |
| Operating profit (loss) | 9901 | €50,527 | €37,404 | -€13,122 | -26.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €26,219 | €24,073 | -€2,147 | -8.2% |
| Recurring financial charges | 65 | €26,219 | €24,073 | -€2,147 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €24,307 | €13,332 | -€10,975 | -45.2% |
| Profit (loss) for the period | 9904 | €24,307 | €13,332 | -€10,975 | -45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €24,307 | €13,332 | -€10,975 | -45.2% |
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 12 October 2026 via checked.be.