PULSAR SERVICES: 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 SERVICES
Largest movements
- Cash +€23,336
up €23,336 (+48.8%), from €47,773 to €71,109
mainly Trade debts (+€22,290) and Depreciation (+€8,228)
- Receivables within one year +€10,105
up €10,105 (+59.3%), from €17,051 to €27,156
of which Other amounts receivable: +€6,515
- Tangible fixed assets -€1,297
down €1,297 (-10.5%), from €12,410 to €11,113
of which Furniture and vehicles: -€790
- Trade debts +€22,290
up €22,290 (+218%), from €10,202 to €32,491
- Profit (loss) carried forward +€7,111
up €7,111 (+10.8%), from €65,704 to €72,815
- Other debts +€2,064
up €2,064 (+282%), from €732 to €2,796
- Gross operating margin -€16,683
down €16,683 (-20.1%), from €83,025 to €66,342
- Staff costs -€8,729
down €8,729 (-17.6%), from €49,716 to €40,988
- Financial charges +€6,615
up €6,615 (+4,367%), from €151 to €6,767
of which Non-recurring financial charges: +€6,527
- Taxes -€3,043
down €3,043 (-51.7%), from €5,892 to €2,849
- Depreciation +€1,973
up €1,973 (+31.5%), from €6,255 to €8,228
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 | €84,813 | €115,952 | +€31,139 | +36.7% |
| Fixed assets | 21/28 | €12,410 | €11,113 | -€1,297 | -10.5% |
| Tangible fixed assets | 22/27 | €12,410 | €11,113 | -€1,297 | -10.5% |
| Plant, machinery and equipment | 23 | €2,590 | €2,084 | -€507 | -19.6% |
| Furniture and vehicles | 24 | €9,820 | €9,029 | -€790 | -8.0% |
| Current assets | 29/58 | €72,403 | €104,839 | +€32,436 | +44.8% |
| Amounts receivable within one year | 40/41 | €17,051 | €27,156 | +€10,105 | +59.3% |
| Trade receivables | 40 | €8,952 | €12,542 | +€3,590 | +40.1% |
| Other amounts receivable | 41 | €8,099 | €14,614 | +€6,515 | +80.4% |
| Cash at bank and in hand | 54/58 | €47,773 | €71,109 | +€23,336 | +48.8% |
| Deferred charges and accrued income | 490/1 | €7,579 | €6,574 | -€1,005 | -13.3% |
| Total equity and liabilities | 10/49 | €84,813 | €115,952 | +€31,139 | +36.7% |
| Equity | 10/15 | €67,704 | €74,815 | +€7,111 | +10.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €65,704 | €72,815 | +€7,111 | +10.8% |
| Amounts payable | 17/49 | €17,109 | €41,137 | +€24,028 | +140% |
| Amounts payable within one year | 42/48 | €17,109 | €41,137 | +€24,028 | +140% |
| Trade debts | 44 | €10,202 | €32,491 | +€22,290 | +218% |
| Suppliers | 440/4 | €10,202 | €32,491 | +€22,290 | +218% |
| Taxes, remuneration and social security | 45 | €6,176 | €5,850 | -€326 | -5.3% |
| Taxes | 450/3 | €5,933 | €2,849 | -€3,085 | -52.0% |
| Remuneration and social security | 454/9 | €242 | €3,001 | +€2,759 | +1,138% |
| Other amounts payable | 47/48 | €732 | €2,796 | +€2,064 | +282% |
| Remuneration, social security and pensions | 62 | €49,716 | €40,988 | -€8,729 | -17.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,255 | €8,228 | +€1,973 | +31.5% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €83,025 | €66,342 | -€16,683 | -20.1% |
| Operating profit (loss) | 9901 | €27,054 | €16,727 | -€10,327 | -38.2% |
| Financial income | 75/76B | €4 | €0 | -€4 | -99.8% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -99.8% |
| Financial charges | 65/66B | €151 | €6,767 | +€6,615 | +4,367% |
| Recurring financial charges | 65 | €151 | €240 | +€88 | +58.3% |
| Non-recurring financial charges | 66B | - | €6,527 | +€6,527 | |
| Profit (loss) for the period before taxes | 9903 | €26,906 | €9,960 | -€16,946 | -63.0% |
| Income taxes | 67/77 | €5,892 | €2,849 | -€3,043 | -51.7% |
| Profit (loss) for the period | 9904 | €21,014 | €7,111 | -€13,903 | -66.2% |
| Profit (loss) for the period to be appropriated | 9905 | €21,014 | €7,111 | -€13,903 | -66.2% |
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 30 October 2026 via checked.be.