PULSAR ICT: 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 ICT
Largest movements
- Tangible fixed assets -€16,821
down €16,821 (-31.8%), from €52,880 to €36,059
- Cash +€11,870
up €11,870 (+2,217%), from €535 to €12,405
mainly Depreciation (+€24,417) and Net result for the year (+€3,828)
- Intangible fixed assets -€7,596
down €7,596 (-20.0%), from €37,938 to €30,342
- Deferred charges and accrued income +€2,003
up €2,003 (+93.3%), from €2,147 to €4,150
- Receivables within one year -€1,677
down €1,677 (-5.8%), from €29,031 to €27,354
- Current portion of long-term debt -€9,136
no longer reported in 2025 (was €9,136)
- Tax, wage and social debts -€4,451
down €4,451 (-29.3%), from €15,192 to €10,741
- Profit (loss) carried forward +€3,828
up €3,828 (+14.8%), from €25,873 to €29,702
- Trade debts -€2,630
down €2,630 (-6.1%), from €43,213 to €40,583
- Gross operating margin +€11,564
up €11,564 (+60.4%), from €19,136 to €30,699
- Depreciation +€8,873
up €8,873 (+57.1%), from €15,545 to €24,417
- Taxes +€1,361
up €1,361, from -€1 to €1,360
- Other operating charges -€420
down €420 (-32.2%), from €1,304 to €884
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 | €122,532 | €110,311 | -€12,222 | -10.0% |
| Fixed assets | 21/28 | €90,819 | €66,402 | -€24,417 | -26.9% |
| Intangible fixed assets | 21 | €37,938 | €30,342 | -€7,596 | -20.0% |
| Tangible fixed assets | 22/27 | €52,880 | €36,059 | -€16,821 | -31.8% |
| Furniture and vehicles | 24 | €52,880 | €36,059 | -€16,821 | -31.8% |
| Current assets | 29/58 | €31,713 | €43,909 | +€12,196 | +38.5% |
| Amounts receivable within one year | 40/41 | €29,031 | €27,354 | -€1,677 | -5.8% |
| Trade receivables | 40 | €29,031 | €27,354 | -€1,677 | -5.8% |
| Cash at bank and in hand | 54/58 | €535 | €12,405 | +€11,870 | +2,217% |
| Deferred charges and accrued income | 490/1 | €2,147 | €4,150 | +€2,003 | +93.3% |
| Total equity and liabilities | 10/49 | €122,532 | €110,311 | -€12,222 | -10.0% |
| Equity | 10/15 | €38,273 | €42,102 | +€3,828 | +10.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,873 | €29,702 | +€3,828 | +14.8% |
| Amounts payable | 17/49 | €84,259 | €68,209 | -€16,050 | -19.0% |
| Amounts payable within one year | 42/48 | €84,184 | €68,209 | -€15,975 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €9,136 | - | -€9,136 | |
| Trade debts | 44 | €43,213 | €40,583 | -€2,630 | -6.1% |
| Suppliers | 440/4 | €43,213 | €40,583 | -€2,630 | -6.1% |
| Taxes, remuneration and social security | 45 | €15,192 | €10,741 | -€4,451 | -29.3% |
| Taxes | 450/3 | €15,192 | €10,741 | -€4,451 | -29.3% |
| Other amounts payable | 47/48 | €16,643 | €16,885 | +€242 | +1.5% |
| Accrued charges and deferred income | 492/3 | €75 | - | -€75 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,545 | €24,417 | +€8,873 | +57.1% |
| Other operating charges | 640/8 | €1,304 | €884 | -€420 | -32.2% |
| Gross operating margin | 9900 | €19,136 | €30,699 | +€11,564 | +60.4% |
| Operating profit (loss) | 9901 | €2,287 | €5,398 | +€3,111 | +136% |
| Financial charges | 65/66B | €415 | €210 | -€205 | -49.4% |
| Recurring financial charges | 65 | €415 | €210 | -€205 | -49.4% |
| Profit (loss) for the period before taxes | 9903 | €1,873 | €5,188 | +€3,315 | +177% |
| Income taxes | 67/77 | -€1 | €1,360 | +€1,361 | |
| Profit (loss) for the period | 9904 | €1,874 | €3,828 | +€1,954 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €1,874 | €3,828 | +€1,954 | +104% |
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 16 October 2026 via checked.be.