PULSE: 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.
PULSE
Largest movements
- Stocks and contracts -€19,651
down €19,651 (-100%), from €19,651 to €0
of which Contracts in progress: -€12,000
- Cash +€4,059
up €4,059 (+150%), from €2,715 to €6,774
mainly Stocks and contracts (+€19,651) and Trade debts (+€14,376)
- Receivables within one year -€2,593
down €2,593 (-5.2%), from €49,813 to €47,221
of which Trade receivables: -€5,999
- Tangible fixed assets -€1,749
down €1,749 (-11.0%), from €15,963 to €14,215
of which Furniture and vehicles: -€972
- Other debts -€34,629
down €34,629 (-78.3%), from €44,242 to €9,613
- Trade debts +€14,376
up €14,376 (+89.2%), from €16,108 to €30,483
- Profit (loss) carried forward +€6,329
up €6,329 (+32.3%), from -€19,624 to -€13,295
- Tax, wage and social debts -€3,279
down €3,279 (-33.2%), from €9,866 to €6,586
of which Remuneration and social security: -€3,972
- Debts after one year -€2,498
down €2,498 (-17.7%), from €14,150 to €11,652
- Gross operating margin -€46,632
down €46,632 (-75.2%), from €62,010 to €15,377
- Staff costs -€46,397
down €46,397 (-98.6%), from €47,075 to €678
- Financial charges -€11,520
down €11,520 (-87.3%), from €13,201 to €1,680
- Other operating charges -€5,857
down €5,857 (-74.2%), from €7,890 to €2,033
- Taxes +€1,750
up €1,750 (+874,875%), from €0 to €1,750
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 | €89,737 | €69,539 | -€20,198 | -22.5% |
| Fixed assets | 21/28 | €16,899 | €14,781 | -€2,118 | -12.5% |
| Intangible fixed assets | 21 | €936 | €567 | -€369 | -39.5% |
| Tangible fixed assets | 22/27 | €15,963 | €14,215 | -€1,749 | -11.0% |
| Land and buildings | 22 | €13,898 | €13,121 | -€777 | -5.6% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,065 | €1,093 | -€972 | -47.1% |
| Current assets | 29/58 | €72,837 | €54,757 | -€18,080 | -24.8% |
| Stocks and contracts in progress | 3 | €19,651 | €0 | -€19,651 | -100% |
| Stocks | 30/36 | €7,651 | €0 | -€7,651 | -100% |
| Contracts in progress | 37 | €12,000 | €0 | -€12,000 | -100% |
| Amounts receivable within one year | 40/41 | €49,813 | €47,221 | -€2,593 | -5.2% |
| Trade receivables | 40 | €49,813 | €43,814 | -€5,999 | -12.0% |
| Other amounts receivable | 41 | €0 | €3,406 | +€3,406 | |
| Cash at bank and in hand | 54/58 | €2,715 | €6,774 | +€4,059 | +150% |
| Deferred charges and accrued income | 490/1 | €658 | €763 | +€105 | +15.9% |
| Total equity and liabilities | 10/49 | €89,737 | €69,539 | -€20,198 | -22.5% |
| Equity | 10/15 | €2,376 | €8,705 | +€6,329 | +266% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,624 | -€13,295 | +€6,329 | +32.3% |
| Amounts payable | 17/49 | €87,360 | €60,834 | -€26,527 | -30.4% |
| Amounts payable after more than one year | 17 | €14,150 | €11,652 | -€2,498 | -17.7% |
| Financial debts | 170/4 | €14,150 | €11,652 | -€2,498 | -17.7% |
| Amounts payable within one year | 42/48 | €73,210 | €49,182 | -€24,028 | -32.8% |
| Current portion of amounts payable after more than one year | 42 | €2,994 | €2,498 | -€496 | -16.6% |
| Trade debts | 44 | €16,108 | €30,483 | +€14,376 | +89.2% |
| Suppliers | 440/4 | €16,108 | €30,483 | +€14,376 | +89.2% |
| Taxes, remuneration and social security | 45 | €9,866 | €6,586 | -€3,279 | -33.2% |
| Taxes | 450/3 | €5,894 | €6,586 | +€693 | +11.8% |
| Remuneration and social security | 454/9 | €3,972 | €0 | -€3,972 | -100% |
| Other amounts payable | 47/48 | €44,242 | €9,613 | -€34,629 | -78.3% |
| Non-recurring operating income | 76A | €17,917 | €1,463 | -€16,454 | -91.8% |
| Remuneration, social security and pensions | 62 | €47,075 | €678 | -€46,397 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,617 | €2,118 | -€499 | -19.1% |
| Other operating charges | 640/8 | €7,890 | €2,033 | -€5,857 | -74.2% |
| Non-recurring operating charges | 66A | - | €816 | +€816 | |
| Gross operating margin | 9900 | €62,010 | €15,377 | -€46,632 | -75.2% |
| Operating profit (loss) | 9901 | €4,427 | €9,733 | +€5,306 | +120% |
| Financial income | 75/76B | €668 | €25 | -€643 | -96.2% |
| Recurring financial income | 75 | €668 | €25 | -€643 | -96.2% |
| Financial charges | 65/66B | €13,201 | €1,680 | -€11,520 | -87.3% |
| Recurring financial charges | 65 | €13,201 | €1,680 | -€11,520 | -87.3% |
| Profit (loss) for the period before taxes | 9903 | -€8,105 | €8,079 | +€16,183 | |
| Income taxes | 67/77 | €0 | €1,750 | +€1,750 | +874,875% |
| Profit (loss) for the period | 9904 | -€8,105 | €6,329 | +€14,434 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,105 | €6,329 | +€14,434 |
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 14 October 2026 via checked.be.