Pulex: 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.
Pulex
Largest movements
- Cash +€596,188
up €596,188 (+8,242%), from €7,234 to €603,422
mainly Net result for the year (+€766,513) and Receivables within one year (+€138,626)
- Receivables within one year -€138,626
down €138,626 (-28.3%), from €489,876 to €351,251
of which Other amounts receivable: -€127,065
- Reserves +€403,662
up €403,662 (+19.1%), from €2.1m to €2.5m
- Other debts +€74,853
up €74,853 (+84.2%), from €88,934 to €163,787
- Debts after one year -€70,196
down €70,196 (-27.5%), from €255,085 to €184,889
- Financial income +€250,873
up €250,873 (+48.9%), from €512,552 to €763,426
of which Financial income: +€250,873
- Taxes +€23,653
up €23,653 (+29.2%), from €80,873 to €104,526
- Gross operating margin -€7,511
down €7,511 (-5.5%), from €136,720 to €129,209
- Financial charges -€2,696
down €2,696 (-19.9%), from €13,525 to €10,829
of which Financial charges: -€2,696
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 | €5,247,408 | €5,694,538 | +€447,130 | +8.5% |
| Fixed assets | 21/28 | €4,746,645 | €4,737,903 | -€8,743 | -0.2% |
| Tangible fixed assets | 22/27 | €96,330 | €87,587 | -€8,743 | -9.1% |
| Land and buildings | 22 | €93,879 | €86,056 | -€7,823 | -8.3% |
| Furniture and vehicles | 24 | €2,451 | €1,532 | -€919 | -37.5% |
| Financial fixed assets | 28 | €4,650,316 | €4,650,316 | = | 0.0% |
| Current assets | 29/58 | €500,763 | €956,636 | +€455,873 | +91.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €489,876 | €351,251 | -€138,626 | -28.3% |
| Trade receivables | 40 | €42,881 | €31,320 | -€11,561 | -27.0% |
| Other amounts receivable | 41 | €446,996 | €319,931 | -€127,065 | -28.4% |
| Cash at bank and in hand | 54/58 | €7,234 | €603,422 | +€596,188 | +8,242% |
| Deferred charges and accrued income | 490/1 | €3,653 | €1,963 | -€1,690 | -46.3% |
| Total equity and liabilities | 10/49 | €5,247,408 | €5,694,538 | +€447,130 | +8.5% |
| Equity | 10/15 | €4,771,088 | €5,174,750 | +€403,662 | +8.5% |
| Contributions | 10/11 | €2,649,856 | €2,649,856 | = | 0.0% |
| Reserves | 13 | €2,118,332 | €2,521,994 | +€403,662 | +19.1% |
| Distributable reserves | 133 | €2,118,332 | €2,521,994 | +€403,662 | +19.1% |
| Profit (loss) carried forward | 14 | €2,899 | €2,899 | = | 0.0% |
| Amounts payable | 17/49 | €476,320 | €519,788 | +€43,468 | +9.1% |
| Amounts payable after more than one year | 17 | €255,085 | €184,889 | -€70,196 | -27.5% |
| Financial debts | 170/4 | €255,085 | €184,889 | -€70,196 | -27.5% |
| Amounts payable within one year | 42/48 | €221,236 | €334,899 | +€113,664 | +51.4% |
| Current portion of amounts payable after more than one year | 42 | €67,893 | €70,196 | +€2,303 | +3.4% |
| Trade debts | 44 | €1,839 | €3,153 | +€1,314 | +71.5% |
| Suppliers | 440/4 | €1,839 | €3,153 | +€1,314 | +71.5% |
| Taxes, remuneration and social security | 45 | €62,570 | €97,763 | +€35,193 | +56.2% |
| Taxes | 450/3 | €62,570 | €97,763 | +€35,193 | +56.2% |
| Other amounts payable | 47/48 | €88,934 | €163,787 | +€74,853 | +84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,743 | €8,743 | = | 0.0% |
| Other operating charges | 640/8 | €1,904 | €2,024 | +€120 | +6.3% |
| Gross operating margin | 9900 | €136,720 | €129,209 | -€7,511 | -5.5% |
| Operating profit (loss) | 9901 | €126,074 | €118,443 | -€7,631 | -6.1% |
| Financial income | 75/76B | €512,552 | €763,426 | +€250,873 | +48.9% |
| Recurring financial income | 75 | €512,552 | €763,426 | +€250,873 | +48.9% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €13,525 | €10,829 | -€2,696 | -19.9% |
| Recurring financial charges | 65 | €13,525 | €10,829 | -€2,696 | -19.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €625,101 | €871,039 | +€245,938 | +39.3% |
| Income taxes | 67/77 | €80,873 | €104,526 | +€23,653 | +29.2% |
| Profit (loss) for the period | 9904 | €544,229 | €766,513 | +€222,285 | +40.8% |
| Profit (loss) for the period to be appropriated | 9905 | €544,229 | €766,513 | +€222,285 | +40.8% |
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 14 October 2026 via checked.be.