PULLAAR: what changed
Two fiscal 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.
PULLAAR
Largest movements
- Tangible fixed assets -€60,031
down €60,031 (-8.5%), from €705,621 to €645,590
of which Land and buildings: -€69,246
- Current portion of long-term debt -€510,323
down €510,323 (-77.3%), from €660,000 to €149,677
- Reserves +€345,450
up €345,450 (+274.6%), from €125,782 to €471,232
of which Tax-exempt reserves: +€345,450
- Provisions +€115,150
new in 2025: €115,150
- Profit (loss) carried forward -€18,157
down €18,157 (-16.0%), from €113,725 to €95,568
- Gross operating margin +€419,229
up €419,229 (+525.3%), from €79,807 to €499,036
- Financial charges +€10,585
up €10,585 (+44.3%), from €23,875 to €34,460
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 | €971,295 | €910,723 | -€60,572 | -6.2% |
| Fixed assets | 21/28 | €705,621 | €645,590 | -€60,031 | -8.5% |
| Tangible fixed assets | 22/27 | €705,621 | €645,590 | -€60,031 | -8.5% |
| Land and buildings | 22 | €705,621 | €636,375 | -€69,246 | -9.8% |
| Furniture and vehicles | 24 | - | €9,215 | +€9,215 | |
| Current assets | 29/58 | €265,674 | €265,133 | -€541 | -0.2% |
| Amounts receivable within one year | 40/41 | €265,673 | €263,390 | -€2,283 | -0.9% |
| Other amounts receivable | 41 | €265,673 | €263,390 | -€2,283 | -0.9% |
| Cash at bank and in hand | 54/58 | €1 | €1,743 | +€1,742 | +174200.0% |
| Total equity and liabilities | 10/49 | €971,295 | €910,723 | -€60,572 | -6.2% |
| Equity | 10/15 | €258,057 | €585,350 | +€327,293 | +126.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €125,782 | €471,232 | +€345,450 | +274.6% |
| Non-distributable reserves | 130/1 | €15,493 | - | -€15,493 | |
| Reserves not available under the articles | 1311 | €15,493 | - | -€15,493 | |
| Tax-exempt reserves | 132 | - | €345,450 | +€345,450 | |
| Distributable reserves | 133 | €110,289 | €125,782 | +€15,493 | +14.0% |
| Profit (loss) carried forward | 14 | €113,725 | €95,568 | -€18,157 | -16.0% |
| Provisions and deferred taxes | 16 | - | €115,150 | +€115,150 | |
| Deferred taxes | 168 | - | €115,150 | +€115,150 | |
| Amounts payable | 17/49 | €713,238 | €210,223 | -€503,015 | -70.5% |
| Amounts payable within one year | 42/48 | €713,238 | €210,223 | -€503,015 | -70.5% |
| Current portion of amounts payable after more than one year | 42 | €660,000 | €149,677 | -€510,323 | -77.3% |
| Trade debts | 44 | €2,849 | €1,289 | -€1,560 | -54.8% |
| Suppliers | 440/4 | €2,849 | €1,289 | -€1,560 | -54.8% |
| Other amounts payable | 47/48 | €50,389 | €59,257 | +€8,868 | +17.6% |
| Non-recurring operating income | 76A | - | €3,252 | +€3,252 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,604 | €17,422 | -€2,182 | -11.1% |
| Other operating charges | 640/8 | €4,970 | €4,711 | -€259 | -5.2% |
| Gross operating margin | 9900 | €79,807 | €499,036 | +€419,229 | +525.3% |
| Operating profit (loss) | 9901 | €55,233 | €476,903 | +€421,670 | +763.4% |
| Financial charges | 65/66B | €23,875 | €34,460 | +€10,585 | +44.3% |
| Recurring financial charges | 65 | €23,875 | €34,460 | +€10,585 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | €31,358 | €442,443 | +€411,085 | +1310.9% |
| Transfer from deferred taxes | 780 | - | €6,726 | +€6,726 | |
| Transfer to deferred taxes | 680 | - | €121,876 | +€121,876 | |
| Profit (loss) for the period | 9904 | €31,358 | €327,293 | +€295,935 | +943.7% |
| Transfer from tax-exempt reserves | 789 | - | €20,177 | +€20,177 | |
| Transfer to tax-exempt reserves | 689 | - | €365,627 | +€365,627 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,358 | -€18,157 | -€49,515 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.