Pulsars: what changed
Two fiscal 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.
Pulsars
Largest movements
- Receivables within one year -€7,103
down €7,103 (-13.8%), from €51,292 to €44,189
of which Other amounts receivable: -€7,125
- Tangible fixed assets -€2,619
down €2,619 (-42.1%), from €6,221 to €3,602
- Cash -€1,471
down €1,471 (-8.9%), from €16,513 to €15,043
mainly Net result for the year (-€13,644) and Investment in fixed assets (net) (-€1,016)
- Profit (loss) carried forward -€13,644
down €13,644 (-25.6%), from €53,197 to €39,552
- Trade debts +€3,171
up €3,171 (+724.4%), from €438 to €3,609
- Gross operating margin -€15,862
down €15,862 (-38.8%), from €40,892 to €25,030
- Staff costs +€14,372
up €14,372 (+94.4%), from €15,223 to €29,595
- Financial charges -€484
down €484 (-88.1%), from €549 to €65
- Taxes -€417
down €417 (-7.2%), from €5,800 to €5,383
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.
Cash bridge derived
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 | €74,027 | €62,834 | -€11,193 | -15.1% |
| Fixed assets | 21/28 | €6,221 | €3,602 | -€2,619 | -42.1% |
| Tangible fixed assets | 22/27 | €6,221 | €3,602 | -€2,619 | -42.1% |
| Furniture and vehicles | 24 | €6,221 | €3,602 | -€2,619 | -42.1% |
| Current assets | 29/58 | €67,805 | €59,231 | -€8,574 | -12.6% |
| Amounts receivable within one year | 40/41 | €51,292 | €44,189 | -€7,103 | -13.8% |
| Trade receivables | 40 | - | €22 | +€22 | |
| Other amounts receivable | 41 | €51,292 | €44,167 | -€7,125 | -13.9% |
| Cash at bank and in hand | 54/58 | €16,513 | €15,043 | -€1,471 | -8.9% |
| Total equity and liabilities | 10/49 | €74,027 | €62,834 | -€11,193 | -15.1% |
| Equity | 10/15 | €55,197 | €41,552 | -€13,644 | -24.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Outside capital | 11 | €2,000 | - | -€2,000 | |
| Other | 1109/19 | €2,000 | - | -€2,000 | |
| Profit (loss) carried forward | 14 | €53,197 | €39,552 | -€13,644 | -25.6% |
| Amounts payable | 17/49 | €18,830 | €21,282 | +€2,452 | +13.0% |
| Amounts payable within one year | 42/48 | €18,830 | €21,282 | +€2,452 | +13.0% |
| Trade debts | 44 | €438 | €3,609 | +€3,171 | +724.4% |
| Suppliers | 440/4 | €438 | €3,609 | +€3,171 | +724.4% |
| Taxes, remuneration and social security | 45 | €18,392 | €17,673 | -€719 | -3.9% |
| Taxes | 450/3 | €16,059 | €2,394 | -€13,665 | -85.1% |
| Remuneration and social security | 454/9 | €2,334 | €15,279 | +€12,945 | +554.7% |
| Remuneration, social security and pensions | 62 | €15,223 | €29,595 | +€14,372 | +94.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,346 | €3,635 | +€289 | +8.6% |
| Other operating charges | 640/8 | €4 | €9 | +€5 | +132.8% |
| Gross operating margin | 9900 | €40,892 | €25,030 | -€15,862 | -38.8% |
| Operating profit (loss) | 9901 | €22,319 | -€8,209 | -€30,527 | |
| Financial income | 75/76B | €5 | €13 | +€8 | +160.4% |
| Recurring financial income | 75 | €5 | €13 | +€8 | +160.4% |
| Financial charges | 65/66B | €549 | €65 | -€484 | -88.1% |
| Recurring financial charges | 65 | €549 | €65 | -€484 | -88.1% |
| Profit (loss) for the period before taxes | 9903 | €21,775 | -€8,261 | -€30,036 | |
| Income taxes | 67/77 | €5,800 | €5,383 | -€417 | -7.2% |
| Profit (loss) for the period | 9904 | €15,975 | -€13,644 | -€29,619 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,975 | -€13,644 | -€29,619 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.