PULPOO: 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.
PULPOO
Largest movements
- Tangible fixed assets -€7,274
down €7,274 (-14.3%), from €50,986 to €43,712
of which Plant, machinery and equipment: -€3,855
- Receivables within one year -€4,098
down €4,098 (-46.8%), from €8,766 to €4,668
of which Other amounts receivable: -€2,130
- Deferred charges and accrued income -€3,547
down €3,547 (-52.5%), from €6,753 to €3,206
- Cash -€1,675
down €1,675 (-3.3%), from €51,417 to €49,742
mainly Contributions, distributions and other (-€45,342) and Current portion of long-term debt (-€5,737)
- Reserves -€45,342
down €45,342 (-100%), from €45,342 to €0
- Other debts +€20,534
up €20,534 (+69.5%), from €29,561 to €50,095
- Profit (loss) carried forward +€12,265
up €12,265, from €0 to €12,265
- Current portion of long-term debt -€5,737
down €5,737 (-100%), from €5,737 to €0
- Accrued charges and deferred income +€1,824
up €1,824, from €0 to €1,824
- Gross operating margin -€29,380
down €29,380 (-26.7%), from €110,158 to €80,779
- Staff costs -€24,213
down €24,213 (-34.3%), from €70,575 to €46,362
- Taxes -€2,350
down €2,350 (-38.8%), from €6,057 to €3,707
- Depreciation -€1,675
down €1,675 (-12.8%), from €13,047 to €11,371
- Financial charges +€1,116
up €1,116 (+36.6%), from €3,054 to €4,170
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 | €126,668 | €110,074 | -€16,594 | -13.1% |
| Fixed assets | 21/28 | €55,246 | €47,972 | -€7,274 | -13.2% |
| Tangible fixed assets | 22/27 | €50,986 | €43,712 | -€7,274 | -14.3% |
| Plant, machinery and equipment | 23 | €22,224 | €18,369 | -€3,855 | -17.3% |
| Furniture and vehicles | 24 | €10,208 | €8,034 | -€2,174 | -21.3% |
| Other tangible fixed assets | 26 | €18,554 | €17,309 | -€1,245 | -6.7% |
| Financial fixed assets | 28 | €4,260 | €4,260 | = | 0.0% |
| Current assets | 29/58 | €71,422 | €62,102 | -€9,321 | -13.1% |
| Stocks and contracts in progress | 3 | €4,486 | €4,486 | = | 0.0% |
| Stocks | 30/36 | €4,486 | €4,486 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,766 | €4,668 | -€4,098 | -46.8% |
| Trade receivables | 40 | €6,080 | €4,112 | -€1,968 | -32.4% |
| Other amounts receivable | 41 | €2,686 | €556 | -€2,130 | -79.3% |
| Cash at bank and in hand | 54/58 | €51,417 | €49,742 | -€1,675 | -3.3% |
| Deferred charges and accrued income | 490/1 | €6,753 | €3,206 | -€3,547 | -52.5% |
| Total equity and liabilities | 10/49 | €126,668 | €110,074 | -€16,594 | -13.1% |
| Equity | 10/15 | €55,342 | €22,265 | -€33,077 | -59.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €45,342 | €0 | -€45,342 | -100% |
| Distributable reserves | 133 | €45,342 | €0 | -€45,342 | -100% |
| Profit (loss) carried forward | 14 | €0 | €12,265 | +€12,265 | |
| Amounts payable | 17/49 | €71,326 | €87,808 | +€16,483 | +23.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €71,326 | €85,985 | +€14,659 | +20.6% |
| Current portion of amounts payable after more than one year | 42 | €5,737 | €0 | -€5,737 | -100% |
| Financial debts | 43 | - | €31 | +€31 | |
| Credit institutions | 430/8 | - | €31 | +€31 | |
| Trade debts | 44 | €12,727 | €11,394 | -€1,334 | -10.5% |
| Suppliers | 440/4 | €12,727 | €11,394 | -€1,334 | -10.5% |
| Advances received on contracts in progress | 46 | - | €1,100 | +€1,100 | |
| Taxes, remuneration and social security | 45 | €23,300 | €23,365 | +€64 | +0.3% |
| Taxes | 450/3 | €11,744 | €13,899 | +€2,155 | +18.4% |
| Remuneration and social security | 454/9 | €11,556 | €9,465 | -€2,091 | -18.1% |
| Other amounts payable | 47/48 | €29,561 | €50,095 | +€20,534 | +69.5% |
| Accrued charges and deferred income | 492/3 | €0 | €1,824 | +€1,824 | |
| Remuneration, social security and pensions | 62 | €70,575 | €46,362 | -€24,213 | -34.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,047 | €11,371 | -€1,675 | -12.8% |
| Other operating charges | 640/8 | €1,902 | €1,873 | -€29 | -1.5% |
| Non-recurring operating charges | 66A | - | €1,031 | +€1,031 | |
| Gross operating margin | 9900 | €110,158 | €80,779 | -€29,380 | -26.7% |
| Operating profit (loss) | 9901 | €24,635 | €20,141 | -€4,493 | -18.2% |
| Financial income | 75/76B | €115 | €1 | -€115 | -99.5% |
| Recurring financial income | 75 | €115 | €1 | -€115 | -99.5% |
| Financial charges | 65/66B | €3,054 | €4,170 | +€1,116 | +36.6% |
| Recurring financial charges | 65 | €3,054 | €4,170 | +€1,116 | +36.6% |
| Profit (loss) for the period before taxes | 9903 | €21,696 | €15,972 | -€5,725 | -26.4% |
| Income taxes | 67/77 | €6,057 | €3,707 | -€2,350 | -38.8% |
| Profit (loss) for the period | 9904 | €15,639 | €12,265 | -€3,374 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,639 | €12,265 | -€3,374 | -21.6% |
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 23 October 2026 via checked.be.