PULP-SYSTEMS: 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.
PULP-SYSTEMS
Largest movements
- Cash +€3,342
up €3,342 (+323.2%), from €1,034 to €4,375
mainly Net result for the year (+€7,094) and Depreciation (+€1,885)
- Tangible fixed assets -€1,885
down €1,885 (-52.4%), from €3,596 to €1,711
of which Furniture and vehicles: -€1,772
- Receivables within one year +€210
up €210 (+10.9%), from €1,924 to €2,133
of which Other amounts receivable: +€238
- Profit (loss) carried forward +€7,094
up €7,094 (+14.4%), from -€49,389 to -€42,295
- Other debts -€4,642
down €4,642 (-11.4%), from €40,624 to €35,983
- Short-term financial debts -€698
no longer reported in 2024 (was €698)
- Gross operating margin +€3,679
up €3,679 (+60.3%), from €6,100 to €9,780
- Depreciation -€343
down €343 (-15.4%), from €2,227 to €1,885
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,559 | €10,226 | +€1,667 | +19.5% |
| Fixed assets | 21/28 | €3,596 | €1,711 | -€1,885 | -52.4% |
| Tangible fixed assets | 22/27 | €3,596 | €1,711 | -€1,885 | -52.4% |
| Furniture and vehicles | 24 | €3,032 | €1,260 | -€1,772 | -58.4% |
| Other tangible fixed assets | 26 | €564 | €451 | -€113 | -20.0% |
| Current assets | 29/58 | €4,963 | €8,514 | +€3,552 | +71.6% |
| Stocks and contracts in progress | 3 | €2,000 | €2,000 | = | 0.0% |
| Stocks | 30/36 | €2,000 | €2,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,924 | €2,133 | +€210 | +10.9% |
| Trade receivables | 40 | €1,924 | €1,895 | -€28 | -1.5% |
| Other amounts receivable | 41 | - | €238 | +€238 | |
| Current investments | 50/53 | €5 | €5 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,034 | €4,375 | +€3,342 | +323.2% |
| Total equity and liabilities | 10/49 | €8,559 | €10,226 | +€1,667 | +19.5% |
| Equity | 10/15 | -€36,149 | -€29,055 | +€7,094 | +19.6% |
| Contributions | 10/11 | €13,240 | €13,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,389 | -€42,295 | +€7,094 | +14.4% |
| Amounts payable | 17/49 | €44,708 | €39,281 | -€5,427 | -12.1% |
| Amounts payable within one year | 42/48 | €44,708 | €39,281 | -€5,427 | -12.1% |
| Financial debts | 43 | €698 | - | -€698 | |
| Credit institutions | 430/8 | €698 | - | -€698 | |
| Trade debts | 44 | €3,369 | €3,298 | -€71 | -2.1% |
| Suppliers | 440/4 | €3,369 | €3,298 | -€71 | -2.1% |
| Taxes, remuneration and social security | 45 | €16 | - | -€16 | |
| Taxes | 450/3 | €16 | - | -€16 | |
| Other amounts payable | 47/48 | €40,624 | €35,983 | -€4,642 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,227 | €1,885 | -€343 | -15.4% |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Gross operating margin | 9900 | €6,100 | €9,780 | +€3,679 | +60.3% |
| Operating profit (loss) | 9901 | €3,489 | €7,508 | +€4,019 | +115.2% |
| Financial charges | 65/66B | €443 | €414 | -€29 | -6.6% |
| Recurring financial charges | 65 | €443 | €414 | -€29 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €3,046 | €7,094 | +€4,048 | +132.9% |
| Profit (loss) for the period | 9904 | €3,046 | €7,094 | +€4,048 | +132.9% |
| Profit (loss) for the period to be appropriated | 9905 | €3,046 | €7,094 | +€4,048 | +132.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.