Pulse Studio: 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 Studio
Largest movements
- Cash +€118,259
up €118,259 (+4366.7%), from €2,708 to €120,968
mainly Net result for the year (+€125,795) and Tax, wage and social debts (+€56,858)
- Tangible fixed assets +€34,993
up €34,993 (+152.6%), from €22,932 to €57,925
of which Plant, machinery and equipment: +€25,652
- Financial fixed assets +€9,600
up €9,600 (+94.1%), from €10,200 to €19,800
- Reserves +€111,601
new in 2025: €111,601
- Tax, wage and social debts +€56,858
new in 2025: €56,858
of which Taxes: +€52,261
- Other debts -€26,349
down €26,349 (-91.7%), from €28,722 to €2,373
- Profit (loss) carried forward +€14,194
no longer reported in 2025 (was -€14,194)
- Trade debts +€5,699
up €5,699 (+44.7%), from €12,745 to €18,445
- Gross operating margin +€187,350
up €187,350, from -€13,670 to €173,679
- Taxes +€29,004
new in 2025: €29,004
- Staff costs +€8,389
new in 2025: €8,389
- Depreciation +€5,810
up €5,810 (+1149.5%), from €505 to €6,316
- Financial charges +€2,110
up €2,110 (+28091.6%), from €8 to €2,117
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 | €37,274 | €199,277 | +€162,003 | +434.6% |
| Fixed assets | 21/28 | €33,132 | €77,725 | +€44,593 | +134.6% |
| Tangible fixed assets | 22/27 | €22,932 | €57,925 | +€34,993 | +152.6% |
| Plant, machinery and equipment | 23 | €19,008 | €44,660 | +€25,652 | +134.9% |
| Furniture and vehicles | 24 | €3,923 | €10,076 | +€6,153 | +156.8% |
| Other tangible fixed assets | 26 | - | €3,188 | +€3,188 | |
| Financial fixed assets | 28 | €10,200 | €19,800 | +€9,600 | +94.1% |
| Current assets | 29/58 | €4,142 | €121,553 | +€117,410 | +2834.6% |
| Amounts receivable within one year | 40/41 | €1,169 | €60 | -€1,109 | -94.8% |
| Trade receivables | 40 | €180 | €60 | -€120 | -66.4% |
| Other amounts receivable | 41 | €989 | - | -€989 | |
| Cash at bank and in hand | 54/58 | €2,708 | €120,968 | +€118,259 | +4366.7% |
| Deferred charges and accrued income | 490/1 | €264 | €524 | +€260 | +98.4% |
| Total equity and liabilities | 10/49 | €37,274 | €199,277 | +€162,003 | +434.6% |
| Equity | 10/15 | -€4,194 | €121,601 | +€125,795 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €111,601 | +€111,601 | |
| Distributable reserves | 133 | - | €111,601 | +€111,601 | |
| Profit (loss) carried forward | 14 | -€14,194 | - | +€14,194 | |
| Amounts payable | 17/49 | €41,468 | €77,676 | +€36,208 | +87.3% |
| Amounts payable within one year | 42/48 | €41,468 | €77,676 | +€36,208 | +87.3% |
| Trade debts | 44 | €12,745 | €18,445 | +€5,699 | +44.7% |
| Suppliers | 440/4 | €12,745 | €18,445 | +€5,699 | +44.7% |
| Taxes, remuneration and social security | 45 | - | €56,858 | +€56,858 | |
| Taxes | 450/3 | - | €52,261 | +€52,261 | |
| Remuneration and social security | 454/9 | - | €4,597 | +€4,597 | |
| Other amounts payable | 47/48 | €28,722 | €2,373 | -€26,349 | -91.7% |
| Remuneration, social security and pensions | 62 | - | €8,389 | +€8,389 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €505 | €6,316 | +€5,810 | +1149.5% |
| Other operating charges | 640/8 | €11 | €2,058 | +€2,048 | +19500.0% |
| Gross operating margin | 9900 | -€13,670 | €173,679 | +€187,350 | |
| Operating profit (loss) | 9901 | -€14,186 | €156,917 | +€171,103 | |
| Financial charges | 65/66B | €8 | €2,117 | +€2,110 | +28091.6% |
| Recurring financial charges | 65 | €8 | €2,117 | +€2,110 | +28091.6% |
| Profit (loss) for the period before taxes | 9903 | -€14,194 | €154,800 | +€168,994 | |
| Income taxes | 67/77 | - | €29,004 | +€29,004 | |
| Profit (loss) for the period | 9904 | -€14,194 | €125,795 | +€139,989 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,194 | €125,795 | +€139,989 |
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 5 October 2026 via checked.be.