PULLI INVEST: 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.
PULLI INVEST
Largest movements
- Receivables within one year -€124,599
down €124,599 (-89.4%), from €139,350 to €14,751
of which Trade receivables: -€120,854
- Tangible fixed assets -€54,538
down €54,538 (-8.6%), from €637,079 to €582,542
of which Furniture and vehicles: -€50,950
- Cash +€50,930
up €50,930 (+714.6%), from €7,127 to €58,058
mainly Receivables within one year (+€124,599) and Net result for the year (+€44,197)
- Debts after one year -€149,203
down €149,203 (-33.5%), from €445,605 to €296,401
- Reserves +€44,197
up €44,197 (+18.4%), from €240,667 to €284,864
- Trade debts -€13,768
down €13,768 (-99.5%), from €13,832 to €64
- Tax, wage and social debts -€13,691
down €13,691 (-35.6%), from €38,466 to €24,776
of which Taxes: -€13,691
- Gross operating margin -€87,954
down €87,954 (-38.8%), from €226,471 to €138,517
- Depreciation -€22,684
down €22,684 (-64.4%), from €35,236 to €12,552
- Staff costs -€15,323
down €15,323 (-26.5%), from €57,850 to €42,527
- Taxes -€14,316
down €14,316 (-46.3%), from €30,895 to €16,579
- Other operating charges +€4,204
up €4,204 (+115.6%), from €3,637 to €7,841
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 | €786,063 | €658,032 | -€128,030 | -16.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €637,464 | €582,927 | -€54,538 | -8.6% |
| Tangible fixed assets | 22/27 | €637,079 | €582,542 | -€54,538 | -8.6% |
| Land and buildings | 22 | €585,478 | €581,890 | -€3,588 | -0.6% |
| Furniture and vehicles | 24 | €51,601 | €651 | -€50,950 | -98.7% |
| Financial fixed assets | 28 | €385 | €385 | = | 0.0% |
| Current assets | 29/58 | €148,598 | €75,106 | -€73,493 | -49.5% |
| Amounts receivable within one year | 40/41 | €139,350 | €14,751 | -€124,599 | -89.4% |
| Trade receivables | 40 | €135,605 | €14,751 | -€120,854 | -89.1% |
| Other amounts receivable | 41 | €3,745 | €0 | -€3,745 | -100.0% |
| Cash at bank and in hand | 54/58 | €7,127 | €58,058 | +€50,930 | +714.6% |
| Deferred charges and accrued income | 490/1 | €2,121 | €2,297 | +€176 | +8.3% |
| Total equity and liabilities | 10/49 | €786,063 | €658,032 | -€128,030 | -16.3% |
| Equity | 10/15 | €250,667 | €294,864 | +€44,197 | +17.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €240,667 | €284,864 | +€44,197 | +18.4% |
| Distributable reserves | 133 | €240,667 | €284,864 | +€44,197 | +18.4% |
| Amounts payable | 17/49 | €535,396 | €363,169 | -€172,227 | -32.2% |
| Amounts payable after more than one year | 17 | €445,605 | €296,401 | -€149,203 | -33.5% |
| Financial debts | 170/4 | €445,605 | €296,401 | -€149,203 | -33.5% |
| Amounts payable within one year | 42/48 | €87,521 | €61,338 | -€26,182 | -29.9% |
| Current portion of amounts payable after more than one year | 42 | €33,242 | €34,203 | +€961 | +2.9% |
| Trade debts | 44 | €13,832 | €64 | -€13,768 | -99.5% |
| Suppliers | 440/4 | €13,832 | €64 | -€13,768 | -99.5% |
| Taxes, remuneration and social security | 45 | €38,466 | €24,776 | -€13,691 | -35.6% |
| Taxes | 450/3 | €36,966 | €23,276 | -€13,691 | -37.0% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €1,980 | €2,295 | +€315 | +15.9% |
| Accrued charges and deferred income | 492/3 | €2,270 | €5,429 | +€3,159 | +139.1% |
| Remuneration, social security and pensions | 62 | €57,850 | €42,527 | -€15,323 | -26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,236 | €12,552 | -€22,684 | -64.4% |
| Other operating charges | 640/8 | €3,637 | €7,841 | +€4,204 | +115.6% |
| Gross operating margin | 9900 | €226,471 | €138,517 | -€87,954 | -38.8% |
| Operating profit (loss) | 9901 | €129,749 | €75,598 | -€54,151 | -41.7% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €12,519 | €14,822 | +€2,304 | +18.4% |
| Recurring financial charges | 65 | €12,519 | €14,822 | +€2,304 | +18.4% |
| Profit (loss) for the period before taxes | 9903 | €117,230 | €60,775 | -€56,455 | -48.2% |
| Income taxes | 67/77 | €30,895 | €16,579 | -€14,316 | -46.3% |
| Profit (loss) for the period | 9904 | €86,335 | €44,197 | -€42,138 | -48.8% |
| Profit (loss) for the period to be appropriated | 9905 | €86,335 | €44,197 | -€42,138 | -48.8% |
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 10 October 2026 via checked.be.