PULSE CONSULTING: 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 CONSULTING
Largest movements
- Cash +€42,432
up €42,432 (+125%), from €33,848 to €76,280
mainly Net result for the year (+€31,543) and Trade debts (+€18,836)
- Receivables within one year -€16,060
down €16,060 (-31.3%), from €51,370 to €35,310
- Reserves +€30,710
up €30,710 (+35.7%), from €85,973 to €116,683
- Trade debts +€18,836
up €18,836 (+230%), from €8,191 to €27,027
- Debts after one year -€17,557
down €17,557 (-15.8%), from €110,804 to €93,246
- Other debts -€11,710
down €11,710 (-29.2%), from €40,052 to €28,342
- Gross operating margin -€7,878
down €7,878 (-10.1%), from €77,713 to €69,835
- Depreciation -€6,223
down €6,223 (-29.7%), from €20,948 to €14,725
- Financial charges -€1,346
down €1,346 (-19.0%), from €7,071 to €5,725
- Other operating charges -€879
down €879 (-32.1%), from €2,738 to €1,860
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 | €441,488 | €464,285 | +€22,798 | +5.2% |
| Fixed assets | 21/28 | €356,139 | €352,540 | -€3,599 | -1.0% |
| Tangible fixed assets | 22/27 | €356,139 | €352,540 | -€3,599 | -1.0% |
| Land and buildings | 22 | €183,345 | €178,395 | -€4,950 | -2.7% |
| Furniture and vehicles | 24 | €128 | €1,047 | +€919 | +721% |
| Other tangible fixed assets | 26 | €172,667 | €173,099 | +€432 | +0.3% |
| Current assets | 29/58 | €85,348 | €111,745 | +€26,397 | +30.9% |
| Amounts receivable within one year | 40/41 | €51,370 | €35,310 | -€16,060 | -31.3% |
| Trade receivables | 40 | €51,370 | €35,310 | -€16,060 | -31.3% |
| Cash at bank and in hand | 54/58 | €33,848 | €76,280 | +€42,432 | +125% |
| Deferred charges and accrued income | 490/1 | €130 | €156 | +€25 | +19.3% |
| Total equity and liabilities | 10/49 | €441,488 | €464,285 | +€22,798 | +5.2% |
| Equity | 10/15 | €219,011 | €249,721 | +€30,710 | +14.0% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €85,973 | €116,683 | +€30,710 | +35.7% |
| Distributable reserves | 133 | €85,973 | €116,683 | +€30,710 | +35.7% |
| Profit (loss) carried forward | 14 | €124,978 | €124,978 | = | 0.0% |
| Amounts payable | 17/49 | €222,477 | €214,565 | -€7,912 | -3.6% |
| Amounts payable after more than one year | 17 | €110,804 | €93,246 | -€17,557 | -15.8% |
| Financial debts | 170/4 | €110,804 | €93,246 | -€17,557 | -15.8% |
| Amounts payable within one year | 42/48 | €111,673 | €121,318 | +€9,645 | +8.6% |
| Current portion of amounts payable after more than one year | 42 | €16,650 | €17,557 | +€907 | +5.4% |
| Trade debts | 44 | €8,191 | €27,027 | +€18,836 | +230% |
| Suppliers | 440/4 | €8,191 | €27,027 | +€18,836 | +230% |
| Taxes, remuneration and social security | 45 | €46,780 | €48,392 | +€1,612 | +3.4% |
| Taxes | 450/3 | €45,080 | €44,992 | -€88 | -0.2% |
| Remuneration and social security | 454/9 | €1,700 | €3,400 | +€1,700 | +100% |
| Other amounts payable | 47/48 | €40,052 | €28,342 | -€11,710 | -29.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,948 | €14,725 | -€6,223 | -29.7% |
| Other operating charges | 640/8 | €2,738 | €1,860 | -€879 | -32.1% |
| Non-recurring operating charges | 66A | - | €1,771 | +€1,771 | |
| Gross operating margin | 9900 | €77,713 | €69,835 | -€7,878 | -10.1% |
| Operating profit (loss) | 9901 | €54,027 | €51,480 | -€2,547 | -4.7% |
| Financial income | 75/76B | €152 | €24 | -€128 | -84.4% |
| Recurring financial income | 75 | €152 | €24 | -€128 | -84.4% |
| Financial charges | 65/66B | €7,071 | €5,725 | -€1,346 | -19.0% |
| Recurring financial charges | 65 | €7,071 | €5,725 | -€1,346 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | €47,107 | €45,778 | -€1,329 | -2.8% |
| Income taxes | 67/77 | €14,999 | €14,235 | -€765 | -5.1% |
| Profit (loss) for the period | 9904 | €32,108 | €31,543 | -€565 | -1.8% |
| Profit (loss) for the period to be appropriated | 9905 | €32,108 | €31,543 | -€565 | -1.8% |
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 17 October 2026 via checked.be.