PULSAR: 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.
PULSAR
Largest movements
- Cash +€45,032
up €45,032 (+56.4%), from €79,790 to €124,822
mainly Receivables within one year (+€40,065) and Receivables after one year (+€6,500)
- Receivables within one year -€40,065
down €40,065 (-39.1%), from €102,446 to €62,380
of which Other amounts receivable: -€24,231
- Receivables after one year -€6,500
down €6,500 (-28.3%), from €23,000 to €16,500
- Tangible fixed assets -€2,625
down €2,625 (-22.8%), from €11,491 to €8,866
of which Furniture and vehicles: -€2,360
- Profit (loss) carried forward +€5,650
up €5,650 (+16.1%), from -€35,030 to -€29,380
- Trade debts -€4,830
down €4,830 (-84.4%), from €5,726 to €896
- Accrued charges and deferred income -€4,819
down €4,819 (-98.2%), from €4,907 to €88
- Other debts -€3,894
down €3,894 (-16.3%), from €23,946 to €20,052
- Tax, wage and social debts +€3,551
up €3,551 (+109%), from €3,271 to €6,822
- Gross operating margin +€3,058
up €3,058 (+42.7%), from €7,154 to €10,212
- Other operating charges -€717
down €717 (-29.6%), from €2,422 to €1,704
- Depreciation +€291
up €291 (+12.5%), from €2,334 to €2,625
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 | €232,539 | €228,197 | -€4,342 | -1.9% |
| Fixed assets | 21/28 | €21,641 | €19,016 | -€2,625 | -12.1% |
| Tangible fixed assets | 22/27 | €11,491 | €8,866 | -€2,625 | -22.8% |
| Plant, machinery and equipment | 23 | €629 | €364 | -€264 | -42.1% |
| Furniture and vehicles | 24 | €10,862 | €8,501 | -€2,360 | -21.7% |
| Financial fixed assets | 28 | €10,150 | €10,150 | = | 0.0% |
| Current assets | 29/58 | €210,898 | €209,181 | -€1,717 | -0.8% |
| Amounts receivable after more than one year | 29 | €23,000 | €16,500 | -€6,500 | -28.3% |
| Other amounts receivable | 291 | €23,000 | €16,500 | -€6,500 | -28.3% |
| Amounts receivable within one year | 40/41 | €102,446 | €62,380 | -€40,065 | -39.1% |
| Trade receivables | 40 | €75,648 | €59,813 | -€15,835 | -20.9% |
| Other amounts receivable | 41 | €26,797 | €2,567 | -€24,231 | -90.4% |
| Cash at bank and in hand | 54/58 | €79,790 | €124,822 | +€45,032 | +56.4% |
| Deferred charges and accrued income | 490/1 | €5,663 | €5,479 | -€184 | -3.2% |
| Total equity and liabilities | 10/49 | €232,539 | €228,197 | -€4,342 | -1.9% |
| Equity | 10/15 | €194,689 | €200,339 | +€5,650 | +2.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €129,719 | €129,719 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €119,719 | €119,719 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€35,030 | -€29,380 | +€5,650 | +16.1% |
| Amounts payable | 17/49 | €37,850 | €27,857 | -€9,992 | -26.4% |
| Amounts payable within one year | 42/48 | €32,943 | €27,770 | -€5,174 | -15.7% |
| Trade debts | 44 | €5,726 | €896 | -€4,830 | -84.4% |
| Suppliers | 440/4 | €5,726 | €896 | -€4,830 | -84.4% |
| Taxes, remuneration and social security | 45 | €3,271 | €6,822 | +€3,551 | +109% |
| Taxes | 450/3 | €3,271 | €6,822 | +€3,551 | +109% |
| Other amounts payable | 47/48 | €23,946 | €20,052 | -€3,894 | -16.3% |
| Accrued charges and deferred income | 492/3 | €4,907 | €88 | -€4,819 | -98.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,334 | €2,625 | +€291 | +12.5% |
| Other operating charges | 640/8 | €2,422 | €1,704 | -€717 | -29.6% |
| Gross operating margin | 9900 | €7,154 | €10,212 | +€3,058 | +42.7% |
| Operating profit (loss) | 9901 | €2,399 | €5,883 | +€3,484 | +145% |
| Financial income | 75/76B | €299 | €354 | +€55 | +18.4% |
| Recurring financial income | 75 | €299 | €354 | +€55 | +18.4% |
| Financial charges | 65/66B | €226 | €133 | -€93 | -41.0% |
| Recurring financial charges | 65 | €226 | €133 | -€93 | -41.0% |
| Profit (loss) for the period before taxes | 9903 | €2,472 | €6,104 | +€3,631 | +147% |
| Income taxes | 67/77 | €442 | €454 | +€11 | +2.6% |
| Profit (loss) for the period | 9904 | €2,030 | €5,650 | +€3,620 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €2,030 | €5,650 | +€3,620 | +178% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.