Pulse Patrimoine: 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 Patrimoine
Largest movements
- Cash +€69,619
up €69,619 (+568%), from €12,263 to €81,882
mainly Net result for the year (+€52,256) and Current investments (+€50,123)
- Intangible fixed assets -€51,555
down €51,555 (-34.6%), from €148,973 to €97,418
- Current investments -€50,123
down €50,123 (-100%), from €50,123 to €0
- Tangible fixed assets -€6,706
down €6,706 (-24.4%), from €27,455 to €20,748
of which Furniture and vehicles: -€6,471
- Deferred charges and accrued income +€3,898
up €3,898 (+73.0%), from €5,338 to €9,236
- Debts after one year -€78,507
down €78,507 (-53.2%), from €147,652 to €69,145
of which Financial debts: -€41,135
- Reserves +€22,256
up €22,256 (+127%), from €17,474 to €39,730
of which Distributable reserves: +€22,256
- Trade debts +€14,027
up €14,027 (+504%), from €2,783 to €16,810
- Other debts +€9,379
up €9,379 (+38.1%), from €24,626 to €34,006
- Gross operating margin +€9,561
up €9,561 (+9.2%), from €103,409 to €112,970
- Depreciation -€3,509
down €3,509 (-10.0%), from €35,075 to €31,566
- Financial charges -€2,071
down €2,071 (-24.7%), from €8,380 to €6,309
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 | €244,798 | €213,387 | -€31,411 | -12.8% |
| Fixed assets | 21/28 | €176,428 | €118,167 | -€58,261 | -33.0% |
| Intangible fixed assets | 21 | €148,973 | €97,418 | -€51,555 | -34.6% |
| Tangible fixed assets | 22/27 | €27,455 | €20,748 | -€6,706 | -24.4% |
| Land and buildings | 22 | €658 | €423 | -€235 | -35.7% |
| Furniture and vehicles | 24 | €21,039 | €14,568 | -€6,471 | -30.8% |
| Other tangible fixed assets | 26 | €5,758 | €5,758 | = | 0.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €68,371 | €95,221 | +€26,850 | +39.3% |
| Amounts receivable within one year | 40/41 | €647 | €4,103 | +€3,456 | +534% |
| Trade receivables | 40 | €97 | €0 | -€97 | -100% |
| Other amounts receivable | 41 | €550 | €4,103 | +€3,553 | +646% |
| Current investments | 50/53 | €50,123 | €0 | -€50,123 | -100% |
| Cash at bank and in hand | 54/58 | €12,263 | €81,882 | +€69,619 | +568% |
| Deferred charges and accrued income | 490/1 | €5,338 | €9,236 | +€3,898 | +73.0% |
| Total equity and liabilities | 10/49 | €244,798 | €213,387 | -€31,411 | -12.8% |
| Equity | 10/15 | €29,874 | €52,130 | +€22,256 | +74.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €17,474 | €39,730 | +€22,256 | +127% |
| Tax-exempt reserves | 132 | €109 | €109 | = | 0.0% |
| Distributable reserves | 133 | €17,364 | €39,620 | +€22,256 | +128% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €214,925 | €161,258 | -€53,667 | -25.0% |
| Amounts payable after more than one year | 17 | €147,652 | €69,145 | -€78,507 | -53.2% |
| Financial debts | 170/4 | €110,280 | €69,145 | -€41,135 | -37.3% |
| Other amounts payable | 178/9 | €37,373 | €0 | -€37,373 | -100% |
| Amounts payable within one year | 42/48 | €67,272 | €92,113 | +€24,840 | +36.9% |
| Current portion of amounts payable after more than one year | 42 | €39,287 | €41,135 | +€1,848 | +4.7% |
| Trade debts | 44 | €2,783 | €16,810 | +€14,027 | +504% |
| Suppliers | 440/4 | €2,783 | €16,810 | +€14,027 | +504% |
| Taxes, remuneration and social security | 45 | €577 | €162 | -€415 | -71.9% |
| Taxes | 450/3 | €577 | €162 | -€415 | -71.9% |
| Other amounts payable | 47/48 | €24,626 | €34,006 | +€9,379 | +38.1% |
| Non-recurring operating income | 76A | - | €10,678 | +€10,678 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,075 | €31,566 | -€3,509 | -10.0% |
| Other operating charges | 640/8 | €1,021 | €1,010 | -€11 | -1.1% |
| Non-recurring operating charges | 66A | €0 | €951 | +€951 | |
| Gross operating margin | 9900 | €103,409 | €112,970 | +€9,561 | +9.2% |
| Operating profit (loss) | 9901 | €67,313 | €79,443 | +€12,130 | +18.0% |
| Financial income | 75/76B | €906 | €472 | -€434 | -47.9% |
| Recurring financial income | 75 | €906 | €472 | -€434 | -47.9% |
| Financial charges | 65/66B | €8,380 | €6,309 | -€2,071 | -24.7% |
| Recurring financial charges | 65 | €8,380 | €6,309 | -€2,071 | -24.7% |
| Profit (loss) for the period before taxes | 9903 | €59,839 | €73,605 | +€13,766 | +23.0% |
| Income taxes | 67/77 | €21,617 | €21,349 | -€268 | -1.2% |
| Profit (loss) for the period | 9904 | €38,222 | €52,256 | +€14,035 | +36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €38,222 | €52,256 | +€14,035 | +36.7% |
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 27 October 2026 via checked.be.