RES PULCHRAE: 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.
RES PULCHRAE
Largest movements
- Intangible fixed assets +€400,493
new in 2025: €400,493
- Stocks and contracts +€249,335
new in 2025: €249,335
- Cash +€179,763
up €179,763 (+2,260%), from €7,955 to €187,718
mainly Debts after one year (+€431,023) and Trade debts (+€234,149)
- Receivables within one year +€146,529
new in 2025: €146,529
of which Trade receivables: +€146,513
- Debts after one year +€431,023
new in 2025: €431,023
- Trade debts +€234,149
new in 2025: €234,149
- Contributions +€180,000
up €180,000 (+900%), from €20,000 to €200,000
- Short-term financial debts +€103,802
new in 2025: €103,802
- Current portion of long-term debt +€18,977
new in 2025: €18,977
- Depreciation +€15,465
new in 2025: €15,465
- Financial charges +€5,984
up €5,984 (+5,438%), from €110 to €6,095
- Gross operating margin +€5,756
up €5,756, from -€1,222 to €4,534
- Other operating charges +€181
up €181 (+38.4%), from €472 to €654
- Financial income +€176
up €176 (+209%), from €84 to €260
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 | €7,955 | €988,110 | +€980,155 | +12,321% |
| Fixed assets | 21/28 | - | €400,592 | +€400,592 | |
| Intangible fixed assets | 21 | - | €400,493 | +€400,493 | |
| Financial fixed assets | 28 | - | €99 | +€99 | |
| Current assets | 29/58 | €7,955 | €587,518 | +€579,563 | +7,286% |
| Stocks and contracts in progress | 3 | - | €249,335 | +€249,335 | |
| Stocks | 30/36 | - | €249,335 | +€249,335 | |
| Amounts receivable within one year | 40/41 | - | €146,529 | +€146,529 | |
| Trade receivables | 40 | - | €146,513 | +€146,513 | |
| Other amounts receivable | 41 | - | €15 | +€15 | |
| Current investments | 50/53 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €7,955 | €187,718 | +€179,763 | +2,260% |
| Deferred charges and accrued income | 490/1 | - | €3,936 | +€3,936 | |
| Total equity and liabilities | 10/49 | €7,955 | €988,110 | +€980,155 | +12,321% |
| Equity | 10/15 | €7,955 | €182,776 | +€174,822 | +2,198% |
| Contributions | 10/11 | €20,000 | €200,000 | +€180,000 | +900% |
| Profit (loss) carried forward | 14 | -€12,045 | -€17,224 | -€5,178 | -43.0% |
| Amounts payable | 17/49 | - | €805,333 | +€805,333 | |
| Amounts payable after more than one year | 17 | - | €431,023 | +€431,023 | |
| Financial debts | 170/4 | - | €431,023 | +€431,023 | |
| Amounts payable within one year | 42/48 | - | €371,379 | +€371,379 | |
| Current portion of amounts payable after more than one year | 42 | - | €18,977 | +€18,977 | |
| Financial debts | 43 | - | €103,802 | +€103,802 | |
| Credit institutions | 430/8 | - | €103,802 | +€103,802 | |
| Trade debts | 44 | - | €234,149 | +€234,149 | |
| Suppliers | 440/4 | - | €234,149 | +€234,149 | |
| Taxes, remuneration and social security | 45 | - | €8,451 | +€8,451 | |
| Taxes | 450/3 | - | €8,451 | +€8,451 | |
| Other amounts payable | 47/48 | - | €6,000 | +€6,000 | |
| Accrued charges and deferred income | 492/3 | - | €2,932 | +€2,932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €15,465 | +€15,465 | |
| Other operating charges | 640/8 | €472 | €654 | +€181 | +38.4% |
| Gross operating margin | 9900 | -€1,222 | €4,534 | +€5,756 | |
| Operating profit (loss) | 9901 | -€1,694 | -€11,585 | -€9,891 | -584% |
| Financial income | 75/76B | €84 | €260 | +€176 | +209% |
| Recurring financial income | 75 | €84 | €260 | +€176 | +209% |
| Financial charges | 65/66B | €110 | €6,095 | +€5,984 | +5,438% |
| Recurring financial charges | 65 | €110 | €6,095 | +€5,984 | +5,438% |
| Profit (loss) for the period before taxes | 9903 | -€1,720 | -€17,419 | -€15,699 | -913% |
| Income taxes | 67/77 | €4 | -€15 | -€19 | |
| Profit (loss) for the period | 9904 | -€1,724 | -€17,404 | -€15,680 | -910% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,724 | -€17,404 | -€15,680 | -910% |
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 23 October 2026 via checked.be.