Pulse Communications: 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 Communications
Largest movements
- Receivables within one year -€22,141
down €22,141 (-33.2%), from €66,656 to €44,515
of which Other amounts receivable: -€27,383
- Cash +€15,149
up €15,149 (+43.0%), from €35,229 to €50,378
mainly Net result for the year (+€60,587) and Receivables within one year (+€22,141)
- Tangible fixed assets +€7,900
up €7,900 (+1.7%), from €477,424 to €485,324
of which Furniture and vehicles: +€26,505
- Reserves +€30,996
up €30,996 (+14.3%), from €216,122 to €247,118
- Debts after one year -€23,091
down €23,091 (-7.8%), from €295,457 to €272,366
- Tax, wage and social debts -€9,003
down €9,003 (-43.7%), from €20,583 to €11,580
of which Taxes: -€6,748
- Gross operating margin +€1,210
up €1,210 (+1.1%), from €108,879 to €110,089
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 | €581,820 | €581,955 | +€135 | 0.0% |
| Fixed assets | 21/28 | €477,424 | €485,324 | +€7,900 | +1.7% |
| Tangible fixed assets | 22/27 | €477,424 | €485,324 | +€7,900 | +1.7% |
| Land and buildings | 22 | €467,208 | €449,607 | -€17,601 | -3.8% |
| Furniture and vehicles | 24 | €2,625 | €29,130 | +€26,505 | +1009.9% |
| Other tangible fixed assets | 26 | €7,592 | €6,587 | -€1,004 | -13.2% |
| Current assets | 29/58 | €104,395 | €96,630 | -€7,765 | -7.4% |
| Amounts receivable within one year | 40/41 | €66,656 | €44,515 | -€22,141 | -33.2% |
| Trade receivables | 40 | €18,327 | €23,569 | +€5,242 | +28.6% |
| Other amounts receivable | 41 | €48,329 | €20,946 | -€27,383 | -56.7% |
| Cash at bank and in hand | 54/58 | €35,229 | €50,378 | +€15,149 | +43.0% |
| Deferred charges and accrued income | 490/1 | €2,510 | €1,737 | -€773 | -30.8% |
| Total equity and liabilities | 10/49 | €581,820 | €581,955 | +€135 | 0.0% |
| Equity | 10/15 | €234,722 | €265,718 | +€30,996 | +13.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €216,122 | €247,118 | +€30,996 | +14.3% |
| Distributable reserves | 133 | €216,122 | €247,118 | +€30,996 | +14.3% |
| Amounts payable | 17/49 | €347,098 | €316,236 | -€30,861 | -8.9% |
| Amounts payable after more than one year | 17 | €295,457 | €272,366 | -€23,091 | -7.8% |
| Financial debts | 170/4 | €295,457 | €272,366 | -€23,091 | -7.8% |
| Amounts payable within one year | 42/48 | €51,641 | €42,210 | -€9,431 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €22,695 | €23,091 | +€397 | +1.7% |
| Trade debts | 44 | €748 | €1,359 | +€611 | +81.7% |
| Suppliers | 440/4 | €748 | €1,359 | +€611 | +81.7% |
| Taxes, remuneration and social security | 45 | €20,583 | €11,580 | -€9,003 | -43.7% |
| Taxes | 450/3 | €18,328 | €11,580 | -€6,748 | -36.8% |
| Remuneration and social security | 454/9 | €2,255 | - | -€2,255 | |
| Other amounts payable | 47/48 | €7,615 | €6,180 | -€1,435 | -18.8% |
| Accrued charges and deferred income | 492/3 | - | €1,661 | +€1,661 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,463 | €20,242 | +€780 | +4.0% |
| Other operating charges | 640/8 | €528 | €757 | +€229 | +43.5% |
| Gross operating margin | 9900 | €108,879 | €110,089 | +€1,210 | +1.1% |
| Operating profit (loss) | 9901 | €88,888 | €89,089 | +€201 | +0.2% |
| Financial income | 75/76B | €2,315 | €1,395 | -€920 | -39.7% |
| Recurring financial income | 75 | €2,315 | €1,395 | -€920 | -39.7% |
| Financial charges | 65/66B | €6,128 | €6,431 | +€304 | +5.0% |
| Recurring financial charges | 65 | €6,128 | €6,431 | +€304 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | €85,075 | €84,053 | -€1,022 | -1.2% |
| Income taxes | 67/77 | €23,564 | €23,466 | -€97 | -0.4% |
| Profit (loss) for the period | 9904 | €61,512 | €60,587 | -€925 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,512 | €60,587 | -€925 | -1.5% |
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 8 October 2026 via checked.be.