PULLI LINE: 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 LINE
Largest movements
- Cash -€71,017
down €71,017 (-50.1%), from €141,830 to €70,814
mainly Contributions, distributions and other (-€125,000) and Stocks and contracts (-€7,128)
- Receivables after one year -€10,517
down €10,517 (-18.6%), from €56,553 to €46,036
- Stocks and contracts +€7,128
up €7,128 (+27.3%), from €26,140 to €33,268
- Tangible fixed assets +€3,807
up €3,807 (+730.0%), from €521 to €4,328
of which Plant, machinery and equipment: +€3,026
- Reserves -€100,000
down €100,000 (-39.3%), from €254,498 to €154,498
of which Distributable reserves: -€100,000
- Contributions -€25,000
down €25,000 (-55.8%), from €44,831 to €19,831
- Profit (loss) carried forward +€24,408
up €24,408 (+32.8%), from -€74,386 to -€49,978
- Tax, wage and social debts +€19,143
up €19,143 (+144.0%), from €13,293 to €32,436
of which Taxes: +€22,367
- Trade debts +€10,415
up €10,415 (+137.9%), from €7,555 to €17,970
- Taxes +€24,088
new in 2025: €24,088
- Staff costs -€10,745
down €10,745 (-70.7%), from €15,191 to €4,446
- Gross operating margin -€4,820
down €4,820 (-7.5%), from €63,849 to €59,029
- Financial charges +€2,071
up €2,071 (+232.7%), from €890 to €2,961
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 | €245,791 | €174,911 | -€70,880 | -28.8% |
| Fixed assets | 21/28 | €3,571 | €7,328 | +€3,757 | +105.2% |
| Tangible fixed assets | 22/27 | €521 | €4,328 | +€3,807 | +730.0% |
| Plant, machinery and equipment | 23 | - | €3,026 | +€3,026 | |
| Furniture and vehicles | 24 | €0 | €1,078 | +€1,078 | |
| Other tangible fixed assets | 26 | €521 | €223 | -€298 | -57.2% |
| Financial fixed assets | 28 | €3,050 | €3,000 | -€50 | -1.6% |
| Current assets | 29/58 | €242,219 | €167,583 | -€74,637 | -30.8% |
| Amounts receivable after more than one year | 29 | €56,553 | €46,036 | -€10,517 | -18.6% |
| Other amounts receivable | 291 | €56,553 | €46,036 | -€10,517 | -18.6% |
| Stocks and contracts in progress | 3 | €26,140 | €33,268 | +€7,128 | +27.3% |
| Stocks | 30/36 | €26,140 | €33,268 | +€7,128 | +27.3% |
| Amounts receivable within one year | 40/41 | €16,560 | €16,668 | +€107 | +0.6% |
| Trade receivables | 40 | €23 | €0 | -€23 | -100.0% |
| Other amounts receivable | 41 | €16,538 | €16,668 | +€130 | +0.8% |
| Cash at bank and in hand | 54/58 | €141,830 | €70,814 | -€71,017 | -50.1% |
| Deferred charges and accrued income | 490/1 | €1,136 | €797 | -€338 | -29.8% |
| Total equity and liabilities | 10/49 | €245,791 | €174,911 | -€70,880 | -28.8% |
| Equity | 10/15 | €224,943 | €124,352 | -€100,592 | -44.7% |
| Contributions | 10/11 | €44,831 | €19,831 | -€25,000 | -55.8% |
| Reserves | 13 | €254,498 | €154,498 | -€100,000 | -39.3% |
| Tax-exempt reserves | 132 | €2,479 | €2,479 | = | 0.0% |
| Distributable reserves | 133 | €252,019 | €152,019 | -€100,000 | -39.7% |
| Profit (loss) carried forward | 14 | -€74,386 | -€49,978 | +€24,408 | +32.8% |
| Amounts payable | 17/49 | €20,847 | €50,559 | +€29,712 | +142.5% |
| Amounts payable within one year | 42/48 | €20,847 | €50,406 | +€29,558 | +141.8% |
| Trade debts | 44 | €7,555 | €17,970 | +€10,415 | +137.9% |
| Suppliers | 440/4 | €7,555 | €17,970 | +€10,415 | +137.9% |
| Taxes, remuneration and social security | 45 | €13,293 | €32,436 | +€19,143 | +144.0% |
| Taxes | 450/3 | €10,069 | €32,436 | +€22,367 | +222.1% |
| Remuneration and social security | 454/9 | €3,224 | €0 | -€3,224 | -100.0% |
| Accrued charges and deferred income | 492/3 | - | €154 | +€154 | |
| Remuneration, social security and pensions | 62 | €15,191 | €4,446 | -€10,745 | -70.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,170 | €803 | -€367 | -31.4% |
| Other operating charges | 640/8 | €3,554 | €3,505 | -€50 | -1.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €63,849 | €59,029 | -€4,820 | -7.5% |
| Operating profit (loss) | 9901 | €43,934 | €50,275 | +€6,342 | +14.4% |
| Financial income | 75/76B | €1,375 | €1,181 | -€194 | -14.1% |
| Recurring financial income | 75 | €1,375 | €1,181 | -€194 | -14.1% |
| Financial charges | 65/66B | €890 | €2,961 | +€2,071 | +232.7% |
| Recurring financial charges | 65 | €890 | €2,961 | +€2,071 | +232.7% |
| Profit (loss) for the period before taxes | 9903 | €44,419 | €48,496 | +€4,077 | +9.2% |
| Income taxes | 67/77 | - | €24,088 | +€24,088 | |
| Profit (loss) for the period | 9904 | €44,419 | €24,408 | -€20,011 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €44,419 | €24,408 | -€20,011 | -45.1% |
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 11 October 2026 via checked.be.