PULSAR ARCHITECTURE: 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 ARCHITECTURE
Largest movements
- Cash +€36,851
up €36,851 (+1,438%), from €2,563 to €39,414
mainly Other debts (+€74,048) and Net result for the year (+€58,798)
- Receivables within one year +€20,596
up €20,596 (+15.9%), from €129,891 to €150,487
of which Other amounts receivable: +€65,040
- Tangible fixed assets -€7,147
down €7,147 (-11.3%), from €63,247 to €56,100
of which Furniture and vehicles: -€4,908
- Other debts +€74,048
up €74,048 (+9,015%), from €821 to €74,869
- Tax, wage and social debts +€22,057
up €22,057 (+46.8%), from €47,089 to €69,146
of which Taxes: +€24,557
- Trade debts -€19,890
down €19,890 (-41.4%), from €48,068 to €28,178
- Reserves -€16,071
down €16,071 (-21.2%), from €75,635 to €59,565
- Debts after one year -€10,814
down €10,814 (-17.2%), from €62,892 to €52,079
- Gross operating margin +€40,279
up €40,279 (+74.6%), from €54,026 to €94,305
- Taxes +€15,271
up €15,271 (+144%), from €10,602 to €25,873
- Other operating charges -€2,503
down €2,503 (-85.0%), from €2,943 to €440
- Depreciation -€2,439
down €2,439 (-23.9%), from €10,185 to €7,747
- Financial income +€1,667
up €1,667 (+28.0%), from €5,951 to €7,617
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 | €367,966 | €417,712 | +€49,746 | +13.5% |
| Fixed assets | 21/28 | €65,512 | €57,766 | -€7,747 | -11.8% |
| Intangible fixed assets | 21 | €2,266 | €1,666 | -€600 | -26.5% |
| Tangible fixed assets | 22/27 | €63,247 | €56,100 | -€7,147 | -11.3% |
| Furniture and vehicles | 24 | €10,722 | €5,814 | -€4,908 | -45.8% |
| Other tangible fixed assets | 26 | €52,525 | €50,287 | -€2,239 | -4.3% |
| Current assets | 29/58 | €302,454 | €359,946 | +€57,492 | +19.0% |
| Amounts receivable after more than one year | 29 | €170,000 | €170,000 | = | 0.0% |
| Other amounts receivable | 291 | €170,000 | €170,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €129,891 | €150,487 | +€20,596 | +15.9% |
| Trade receivables | 40 | €122,151 | €77,708 | -€44,443 | -36.4% |
| Other amounts receivable | 41 | €7,740 | €72,780 | +€65,040 | +840% |
| Cash at bank and in hand | 54/58 | €2,563 | €39,414 | +€36,851 | +1,438% |
| Deferred charges and accrued income | 490/1 | - | €45 | +€45 | |
| Total equity and liabilities | 10/49 | €367,966 | €417,712 | +€49,746 | +13.5% |
| Equity | 10/15 | €198,697 | €182,626 | -€16,071 | -8.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,635 | €59,565 | -€16,071 | -21.2% |
| Distributable reserves | 133 | €75,635 | €59,565 | -€16,071 | -21.2% |
| Profit (loss) carried forward | 14 | €104,462 | €104,462 | = | 0.0% |
| Amounts payable | 17/49 | €169,269 | €235,086 | +€65,817 | +38.9% |
| Amounts payable after more than one year | 17 | €62,892 | €52,079 | -€10,814 | -17.2% |
| Financial debts | 170/4 | €62,892 | €52,079 | -€10,814 | -17.2% |
| Amounts payable within one year | 42/48 | €106,377 | €183,007 | +€76,630 | +72.0% |
| Current portion of amounts payable after more than one year | 42 | €10,398 | €10,814 | +€415 | +4.0% |
| Trade debts | 44 | €48,068 | €28,178 | -€19,890 | -41.4% |
| Suppliers | 440/4 | €48,068 | €28,178 | -€19,890 | -41.4% |
| Taxes, remuneration and social security | 45 | €47,089 | €69,146 | +€22,057 | +46.8% |
| Taxes | 450/3 | €44,589 | €69,146 | +€24,557 | +55.1% |
| Remuneration and social security | 454/9 | €2,500 | - | -€2,500 | |
| Other amounts payable | 47/48 | €821 | €74,869 | +€74,048 | +9,015% |
| Non-recurring operating income | 76A | €2,986 | €7,208 | +€4,222 | +141% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,185 | €7,747 | -€2,439 | -23.9% |
| Other operating charges | 640/8 | €2,943 | €440 | -€2,503 | -85.0% |
| Non-recurring operating charges | 66A | €1,597 | €1,248 | -€350 | -21.9% |
| Gross operating margin | 9900 | €54,026 | €94,305 | +€40,279 | +74.6% |
| Operating profit (loss) | 9901 | €39,300 | €84,871 | +€45,570 | +116% |
| Financial income | 75/76B | €5,951 | €7,617 | +€1,667 | +28.0% |
| Recurring financial income | 75 | €5,951 | €7,617 | +€1,667 | +28.0% |
| Financial charges | 65/66B | €7,508 | €7,816 | +€308 | +4.1% |
| Recurring financial charges | 65 | €7,508 | €7,816 | +€308 | +4.1% |
| Profit (loss) for the period before taxes | 9903 | €37,743 | €84,671 | +€46,929 | +124% |
| Income taxes | 67/77 | €10,602 | €25,873 | +€15,271 | +144% |
| Profit (loss) for the period | 9904 | €27,140 | €58,798 | +€31,658 | +117% |
| Profit (loss) for the period to be appropriated | 9905 | €27,140 | €58,798 | +€31,658 | +117% |
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 22 October 2026 via checked.be.