PULP LIFE: 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.
PULP LIFE
Largest movements
- Receivables within one year +€62,349
up €62,349 (+118%), from €52,798 to €115,147
- Cash -€10,811
down €10,811 (-38.2%), from €28,286 to €17,475
mainly Receivables within one year (-€62,349) and Contributions, distributions and other (-€27,500)
- Deferred charges and accrued income -€4,524
down €4,524 (-39.0%), from €11,606 to €7,082
- Tangible fixed assets -€2,035
down €2,035 (-27.2%), from €7,468 to €5,434
- Other debts +€22,550
new in 2025: €22,550
- Tax, wage and social debts +€11,412
up €11,412 (+135%), from €8,447 to €19,859
of which Taxes: +€8,912
- Profit (loss) carried forward +€10,324
up €10,324 (+11.9%), from €86,678 to €97,002
- Gross operating margin +€4,880
up €4,880 (+11.5%), from €42,411 to €47,290
- Financial income +€4,047
up €4,047 (+287%), from €1,409 to €5,456
- Taxes +€2,015
up €2,015 (+23.9%), from €8,447 to €10,462
- Depreciation +€1,754
up €1,754 (+99.6%), from €1,760 to €3,514
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 | €100,158 | €145,137 | +€44,979 | +44.9% |
| Fixed assets | 21/28 | €7,468 | €5,434 | -€2,035 | -27.2% |
| Tangible fixed assets | 22/27 | €7,468 | €5,434 | -€2,035 | -27.2% |
| Furniture and vehicles | 24 | €7,468 | €5,434 | -€2,035 | -27.2% |
| Current assets | 29/58 | €92,690 | €139,704 | +€47,014 | +50.7% |
| Amounts receivable within one year | 40/41 | €52,798 | €115,147 | +€62,349 | +118% |
| Other amounts receivable | 41 | €52,798 | €115,147 | +€62,349 | +118% |
| Cash at bank and in hand | 54/58 | €28,286 | €17,475 | -€10,811 | -38.2% |
| Deferred charges and accrued income | 490/1 | €11,606 | €7,082 | -€4,524 | -39.0% |
| Total equity and liabilities | 10/49 | €100,158 | €145,137 | +€44,979 | +44.9% |
| Equity | 10/15 | €89,678 | €100,002 | +€10,324 | +11.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,678 | €97,002 | +€10,324 | +11.9% |
| Amounts payable | 17/49 | €10,480 | €45,135 | +€34,655 | +331% |
| Amounts payable within one year | 42/48 | €10,464 | €45,135 | +€34,671 | +331% |
| Trade debts | 44 | €2,017 | €2,726 | +€708 | +35.1% |
| Suppliers | 440/4 | €2,017 | €2,726 | +€708 | +35.1% |
| Taxes, remuneration and social security | 45 | €8,447 | €19,859 | +€11,412 | +135% |
| Taxes | 450/3 | €8,447 | €17,359 | +€8,912 | +106% |
| Remuneration and social security | 454/9 | - | €2,500 | +€2,500 | |
| Other amounts payable | 47/48 | - | €22,550 | +€22,550 | |
| Accrued charges and deferred income | 492/3 | €16 | - | -€16 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,760 | €3,514 | +€1,754 | +99.6% |
| Other operating charges | 640/8 | €625 | €821 | +€196 | +31.4% |
| Gross operating margin | 9900 | €42,411 | €47,290 | +€4,880 | +11.5% |
| Operating profit (loss) | 9901 | €40,025 | €42,955 | +€2,930 | +7.3% |
| Financial income | 75/76B | €1,409 | €5,456 | +€4,047 | +287% |
| Recurring financial income | 75 | €1,409 | €5,456 | +€4,047 | +287% |
| Financial charges | 65/66B | €176 | €125 | -€51 | -29.2% |
| Recurring financial charges | 65 | €176 | €125 | -€51 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €41,259 | €48,287 | +€7,028 | +17.0% |
| Income taxes | 67/77 | €8,447 | €10,462 | +€2,015 | +23.9% |
| Profit (loss) for the period | 9904 | €32,812 | €37,824 | +€5,013 | +15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,812 | €37,824 | +€5,013 | +15.3% |
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.