PULSE: 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.
PULSE
Largest movements
- Deferred charges and accrued income +€8,853
up €8,853 (+550.6%), from €1,608 to €10,461
- Receivables within one year -€5,954
down €5,954 (-34.7%), from €17,184 to €11,229
of which Trade receivables: -€6,721
- Tangible fixed assets -€830
down €830 (-21.3%), from €3,893 to €3,063
- Cash +€809
up €809 (+16.1%), from €5,020 to €5,829
mainly Receivables within one year (+€5,954) and Tax, wage and social debts (+€2,489)
- Tax, wage and social debts +€2,489
up €2,489 (+222.5%), from €1,119 to €3,609
- Accrued charges and deferred income +€1,227
new in 2025: €1,227
- Trade debts -€1,213
down €1,213 (-37.8%), from €3,209 to €1,996
- Profit (loss) carried forward +€375
up €375 (+23.1%), from -€1,623 to -€1,249
- Gross operating margin -€5,129
down €5,129 (-48.4%), from €10,608 to €5,479
- Taxes +€1,370
up €1,370 (+122.5%), from €1,119 to €2,489
- Depreciation +€574
up €574 (+223.9%), from €256 to €830
- Financial charges -€454
down €454 (-16.9%), from €2,682 to €2,228
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.
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 | €27,705 | €30,582 | +€2,877 | +10.4% |
| Fixed assets | 21/28 | €3,893 | €3,063 | -€830 | -21.3% |
| Tangible fixed assets | 22/27 | €3,893 | €3,063 | -€830 | -21.3% |
| Furniture and vehicles | 24 | €3,893 | €3,063 | -€830 | -21.3% |
| Current assets | 29/58 | €23,812 | €27,519 | +€3,707 | +15.6% |
| Amounts receivable within one year | 40/41 | €17,184 | €11,229 | -€5,954 | -34.7% |
| Trade receivables | 40 | €7,275 | €554 | -€6,721 | -92.4% |
| Other amounts receivable | 41 | €9,909 | €10,675 | +€766 | +7.7% |
| Cash at bank and in hand | 54/58 | €5,020 | €5,829 | +€809 | +16.1% |
| Deferred charges and accrued income | 490/1 | €1,608 | €10,461 | +€8,853 | +550.6% |
| Total equity and liabilities | 10/49 | €27,705 | €30,582 | +€2,877 | +10.4% |
| Equity | 10/15 | €8,377 | €8,751 | +€375 | +4.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,623 | -€1,249 | +€375 | +23.1% |
| Amounts payable | 17/49 | €19,328 | €21,831 | +€2,503 | +12.9% |
| Amounts payable after more than one year | 17 | €15,000 | €15,000 | = | 0.0% |
| Financial debts | 170/4 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,328 | €5,604 | +€1,276 | +29.5% |
| Trade debts | 44 | €3,209 | €1,996 | -€1,213 | -37.8% |
| Suppliers | 440/4 | €3,209 | €1,996 | -€1,213 | -37.8% |
| Taxes, remuneration and social security | 45 | €1,119 | €3,609 | +€2,489 | +222.5% |
| Taxes | 450/3 | €1,119 | €3,609 | +€2,489 | +222.5% |
| Accrued charges and deferred income | 492/3 | - | €1,227 | +€1,227 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €256 | €830 | +€574 | +223.9% |
| Other operating charges | 640/8 | €189 | €120 | -€69 | -36.5% |
| Gross operating margin | 9900 | €10,608 | €5,479 | -€5,129 | -48.4% |
| Operating profit (loss) | 9901 | €10,163 | €4,529 | -€5,634 | -55.4% |
| Financial income | 75/76B | €515 | €563 | +€48 | +9.3% |
| Recurring financial income | 75 | €515 | €563 | +€48 | +9.3% |
| Financial charges | 65/66B | €2,682 | €2,228 | -€454 | -16.9% |
| Recurring financial charges | 65 | €2,682 | €2,228 | -€454 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €7,996 | €2,864 | -€5,132 | -64.2% |
| Income taxes | 67/77 | €1,119 | €2,489 | +€1,370 | +122.5% |
| Profit (loss) for the period | 9904 | €6,876 | €375 | -€6,502 | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €6,876 | €375 | -€6,502 | -94.6% |
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.