NETPULSE: 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.
NETPULSE
Largest movements
- Tangible fixed assets -€13,855
down €13,855 (-15.9%), from €87,274 to €73,419
of which Furniture and vehicles: -€8,846
- Stocks and contracts +€11,357
up €11,357 (+24.9%), from €45,633 to €56,990
- Cash -€3,893
down €3,893 (-17.0%), from €22,884 to €18,991
mainly Investment in fixed assets (net) (-€14,641) and Stocks and contracts (-€11,357)
- Deferred charges and accrued income -€2,565
down €2,565 (-22.1%), from €11,626 to €9,060
- Debts after one year -€9,495
down €9,495 (-28.1%), from €33,740 to €24,246
- Tax, wage and social debts +€5,983
up €5,983 (+234%), from €2,552 to €8,536
of which Taxes: +€5,183
- Trade debts -€3,435
down €3,435 (-37.4%), from €9,195 to €5,761
- Current portion of long-term debt -€3,230
down €3,230 (-25.4%), from €12,724 to €9,495
- Depreciation +€6,310
up €6,310 (+28.4%), from €22,186 to €28,496
- Gross operating margin +€5,128
up €5,128 (+13.4%), from €38,320 to €43,448
- Staff costs +€2,522
up €2,522 (+57.9%), from €4,359 to €6,882
- Other operating charges -€848
down €848 (-31.0%), from €2,736 to €1,888
- Financial charges +€800
up €800 (+114%), from €701 to €1,501
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 | €180,374 | €173,202 | -€7,172 | -4.0% |
| Fixed assets | 21/28 | €87,449 | €73,594 | -€13,855 | -15.8% |
| Tangible fixed assets | 22/27 | €87,274 | €73,419 | -€13,855 | -15.9% |
| Land and buildings | 22 | €3,892 | €3,400 | -€493 | -12.7% |
| Plant, machinery and equipment | 23 | €20,944 | €16,428 | -€4,516 | -21.6% |
| Furniture and vehicles | 24 | €62,438 | €53,591 | -€8,846 | -14.2% |
| Financial fixed assets | 28 | €175 | €175 | = | 0.0% |
| Current assets | 29/58 | €92,925 | €99,608 | +€6,683 | +7.2% |
| Stocks and contracts in progress | 3 | €45,633 | €56,990 | +€11,357 | +24.9% |
| Stocks | 30/36 | €45,633 | €56,990 | +€11,357 | +24.9% |
| Amounts receivable within one year | 40/41 | €12,783 | €14,567 | +€1,785 | +14.0% |
| Trade receivables | 40 | €12,029 | €13,640 | +€1,611 | +13.4% |
| Other amounts receivable | 41 | €754 | €927 | +€173 | +23.0% |
| Cash at bank and in hand | 54/58 | €22,884 | €18,991 | -€3,893 | -17.0% |
| Deferred charges and accrued income | 490/1 | €11,626 | €9,060 | -€2,565 | -22.1% |
| Total equity and liabilities | 10/49 | €180,374 | €173,202 | -€7,172 | -4.0% |
| Equity | 10/15 | €117,625 | €118,968 | +€1,343 | +1.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,975 | €51,318 | +€1,343 | +2.7% |
| Amounts payable | 17/49 | €62,749 | €54,234 | -€8,516 | -13.6% |
| Amounts payable after more than one year | 17 | €33,740 | €24,246 | -€9,495 | -28.1% |
| Financial debts | 170/4 | €33,740 | €24,246 | -€9,495 | -28.1% |
| Amounts payable within one year | 42/48 | €29,009 | €29,988 | +€979 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €12,724 | €9,495 | -€3,230 | -25.4% |
| Trade debts | 44 | €9,195 | €5,761 | -€3,435 | -37.4% |
| Suppliers | 440/4 | €9,195 | €5,761 | -€3,435 | -37.4% |
| Taxes, remuneration and social security | 45 | €2,552 | €8,536 | +€5,983 | +234% |
| Taxes | 450/3 | €2,552 | €7,736 | +€5,183 | +203% |
| Remuneration and social security | 454/9 | - | €800 | +€800 | |
| Other amounts payable | 47/48 | €4,537 | €6,197 | +€1,660 | +36.6% |
| Remuneration, social security and pensions | 62 | €4,359 | €6,882 | +€2,522 | +57.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,186 | €28,496 | +€6,310 | +28.4% |
| Other operating charges | 640/8 | €2,736 | €1,888 | -€848 | -31.0% |
| Non-recurring operating charges | 66A | €519 | €486 | -€32 | -6.2% |
| Gross operating margin | 9900 | €38,320 | €43,448 | +€5,128 | +13.4% |
| Operating profit (loss) | 9901 | €8,520 | €5,695 | -€2,825 | -33.2% |
| Financial income | 75/76B | €89 | €65 | -€24 | -26.8% |
| Recurring financial income | 75 | €89 | €65 | -€24 | -26.8% |
| Financial charges | 65/66B | €701 | €1,501 | +€800 | +114% |
| Recurring financial charges | 65 | €701 | €1,501 | +€800 | +114% |
| Profit (loss) for the period before taxes | 9903 | €7,908 | €4,260 | -€3,648 | -46.1% |
| Income taxes | 67/77 | €2,840 | €2,916 | +€76 | +2.7% |
| Profit (loss) for the period | 9904 | €5,067 | €1,343 | -€3,724 | -73.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,067 | €1,343 | -€3,724 | -73.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.