PULSE CONCEPT: 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 CONCEPT
Largest movements
- Receivables within one year +€39,531
up €39,531 (+1,277%), from €3,097 to €42,627
of which Trade receivables: +€24,989
- Tangible fixed assets -€7,933
down €7,933 (-3.2%), from €250,543 to €242,610
of which Land and buildings: -€8,357
- Other debts +€30,532
up €30,532 (+653%), from €4,674 to €35,206
- Short-term financial debts +€18,821
up €18,821 (+352%), from €5,344 to €24,164
- Debts after one year -€15,628
down €15,628 (-7.3%), from €214,403 to €198,775
- Profit (loss) carried forward -€14,305
down €14,305 (-27.7%), from -€51,642 to -€65,947
- Contributions +€12,400
up €12,400 (+154%), from €8,060 to €20,460
- Gross operating margin +€18,769
up €18,769, from -€788 to €17,981
- Staff costs +€12,389
new in 2025: €12,389
- Other operating charges -€842
down €842 (-28.8%), from €2,927 to €2,085
- Depreciation -€374
down €374 (-4.2%), from €8,855 to €8,481
- Financial charges +€219
up €219 (+2.6%), from €8,565 to €8,784
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 | €257,436 | €287,702 | +€30,266 | +11.8% |
| Fixed assets | 21/28 | €250,718 | €242,995 | -€7,723 | -3.1% |
| Tangible fixed assets | 22/27 | €250,543 | €242,610 | -€7,933 | -3.2% |
| Land and buildings | 22 | €250,543 | €242,186 | -€8,357 | -3.3% |
| Furniture and vehicles | 24 | €0 | €424 | +€424 | |
| Financial fixed assets | 28 | €175 | €385 | +€210 | +120% |
| Current assets | 29/58 | €6,718 | €44,708 | +€37,989 | +565% |
| Amounts receivable within one year | 40/41 | €3,097 | €42,627 | +€39,531 | +1,277% |
| Trade receivables | 40 | €3,097 | €28,086 | +€24,989 | +807% |
| Other amounts receivable | 41 | - | €14,541 | +€14,541 | |
| Current investments | 50/53 | €1 | €1 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €3,621 | €2,080 | -€1,541 | -42.6% |
| Total equity and liabilities | 10/49 | €257,436 | €287,702 | +€30,266 | +11.8% |
| Equity | 10/15 | €1,201 | -€704 | -€1,905 | |
| Contributions | 10/11 | €8,060 | €20,460 | +€12,400 | +154% |
| Reserves | 13 | €44,783 | €44,783 | = | 0.0% |
| Distributable reserves | 133 | €44,783 | €44,783 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,642 | -€65,947 | -€14,305 | -27.7% |
| Amounts payable | 17/49 | €256,235 | €288,407 | +€32,172 | +12.6% |
| Amounts payable after more than one year | 17 | €214,403 | €198,775 | -€15,628 | -7.3% |
| Financial debts | 170/4 | €214,403 | €198,775 | -€15,628 | -7.3% |
| Amounts payable within one year | 42/48 | €41,832 | €89,632 | +€47,800 | +114% |
| Current portion of amounts payable after more than one year | 42 | €15,113 | €15,628 | +€515 | +3.4% |
| Financial debts | 43 | €5,344 | €24,164 | +€18,821 | +352% |
| Credit institutions | 430/8 | €5,344 | €24,164 | +€18,821 | +352% |
| Trade debts | 44 | €10,341 | €10,493 | +€152 | +1.5% |
| Suppliers | 440/4 | €10,341 | €10,493 | +€152 | +1.5% |
| Taxes, remuneration and social security | 45 | €6,362 | €4,141 | -€2,220 | -34.9% |
| Taxes | 450/3 | €6,362 | €1,030 | -€5,331 | -83.8% |
| Remuneration and social security | 454/9 | - | €3,111 | +€3,111 | |
| Other amounts payable | 47/48 | €4,674 | €35,206 | +€30,532 | +653% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €6,851 | +€6,851 | |
| Remuneration, social security and pensions | 62 | - | €12,389 | +€12,389 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,855 | €8,481 | -€374 | -4.2% |
| Other operating charges | 640/8 | €2,927 | €2,085 | -€842 | -28.8% |
| Non-recurring operating charges | 66A | - | €407 | +€407 | |
| Gross operating margin | 9900 | -€788 | €17,981 | +€18,769 | |
| Operating profit (loss) | 9901 | -€12,569 | -€5,380 | +€7,189 | +57.2% |
| Financial income | 75/76B | €1 | €0 | -€1 | -99.0% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -99.0% |
| Financial charges | 65/66B | €8,565 | €8,784 | +€219 | +2.6% |
| Recurring financial charges | 65 | €8,565 | €8,784 | +€219 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€21,133 | -€14,164 | +€6,969 | +33.0% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€21,273 | -€14,305 | +€6,967 | +32.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€21,273 | -€14,305 | +€6,967 | +32.8% |
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 16 October 2026 via checked.be.