TULFER 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.
TULFER CONSULTING
Largest movements
- Tangible fixed assets -€52,082
down €52,082 (-20.9%), from €248,820 to €196,738
of which Land and buildings: -€51,808
- Receivables within one year +€36,050
up €36,050 (+259%), from €13,910 to €49,960
of which Other amounts receivable: +€39,301
- Cash +€8,213
up €8,213 (+35.8%), from €22,944 to €31,157
mainly Net result for the year (+€62,504) and Investment in fixed assets (net) (+€38,021)
- Reserves -€7,196
down €7,196 (-2.5%), from €285,494 to €278,298
- Trade debts -€6,360
down €6,360 (-90.1%), from €7,060 to €700
- Tax, wage and social debts +€6,117
up €6,117 (+32.1%), from €19,040 to €25,157
of which Taxes: +€5,791
- Financial income -€20,899
down €20,899 (-92.8%), from €22,527 to €1,627
- Depreciation -€16,151
down €16,151 (-53.5%), from €30,212 to €14,061
- Gross operating margin +€12,476
up €12,476 (+12.7%), from €98,509 to €110,984
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 | €312,519 | €305,080 | -€7,439 | -2.4% |
| Fixed assets | 21/28 | €248,820 | €196,738 | -€52,082 | -20.9% |
| Tangible fixed assets | 22/27 | €248,820 | €196,738 | -€52,082 | -20.9% |
| Land and buildings | 22 | €247,540 | €195,732 | -€51,808 | -20.9% |
| Plant, machinery and equipment | 23 | €129 | - | -€129 | |
| Furniture and vehicles | 24 | €1,151 | €1,006 | -€145 | -12.6% |
| Current assets | 29/58 | €63,699 | €108,341 | +€44,643 | +70.1% |
| Amounts receivable within one year | 40/41 | €13,910 | €49,960 | +€36,050 | +259% |
| Trade receivables | 40 | €10,453 | €7,202 | -€3,251 | -31.1% |
| Other amounts receivable | 41 | €3,457 | €42,758 | +€39,301 | +1,137% |
| Current investments | 50/53 | €24,072 | €24,072 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,944 | €31,157 | +€8,213 | +35.8% |
| Deferred charges and accrued income | 490/1 | €2,773 | €3,152 | +€380 | +13.7% |
| Total equity and liabilities | 10/49 | €312,519 | €305,080 | -€7,439 | -2.4% |
| Equity | 10/15 | €285,494 | €278,298 | -€7,196 | -2.5% |
| Reserves | 13 | €285,494 | €278,298 | -€7,196 | -2.5% |
| Distributable reserves | 133 | €285,494 | €278,298 | -€7,196 | -2.5% |
| Amounts payable | 17/49 | €27,025 | €26,782 | -€243 | -0.9% |
| Amounts payable within one year | 42/48 | €27,025 | €26,782 | -€243 | -0.9% |
| Trade debts | 44 | €7,060 | €700 | -€6,360 | -90.1% |
| Suppliers | 440/4 | €7,060 | €700 | -€6,360 | -90.1% |
| Taxes, remuneration and social security | 45 | €19,040 | €25,157 | +€6,117 | +32.1% |
| Taxes | 450/3 | €15,755 | €21,546 | +€5,791 | +36.8% |
| Remuneration and social security | 454/9 | €3,285 | €3,611 | +€325 | +9.9% |
| Other amounts payable | 47/48 | €925 | €925 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €818 | €1,876 | +€1,058 | +129% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,212 | €14,061 | -€16,151 | -53.5% |
| Other operating charges | 640/8 | €2,609 | €3,357 | +€748 | +28.7% |
| Non-recurring operating charges | 66A | - | €6,052 | +€6,052 | |
| Gross operating margin | 9900 | €98,509 | €110,984 | +€12,476 | +12.7% |
| Operating profit (loss) | 9901 | €64,870 | €85,639 | +€20,769 | +32.0% |
| Financial income | 75/76B | €22,527 | €1,627 | -€20,899 | -92.8% |
| Recurring financial income | 75 | €22,527 | €1,627 | -€20,899 | -92.8% |
| Financial charges | 65/66B | -€326 | €115 | +€441 | |
| Recurring financial charges | 65 | -€326 | €115 | +€441 | |
| Profit (loss) for the period before taxes | 9903 | €87,722 | €87,151 | -€571 | -0.7% |
| Income taxes | 67/77 | €24,495 | €24,648 | +€153 | +0.6% |
| Profit (loss) for the period | 9904 | €63,227 | €62,504 | -€724 | -1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €63,227 | €62,504 | -€724 | -1.1% |
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 18 October 2026 via checked.be.