TULIPANT: 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.
TULIPANT
Largest movements
- Cash -€12,577
down €12,577 (-32.8%), from €38,298 to €25,720
mainly Investment in fixed assets (net) (-€60,165) and Debts after one year (-€20,869)
- Tangible fixed assets -€6,425
down €6,425 (-1.5%), from €426,274 to €419,850
of which Other tangible fixed assets: -€25,713
- Debts after one year -€20,869
down €20,869 (-6.9%), from €301,773 to €280,904
- Profit (loss) carried forward +€13,110
up €13,110 (+22.5%), from €58,191 to €71,301
- Other debts -€6,729
down €6,729 (-99.1%), from €6,789 to €60
- Depreciation +€20,339
up €20,339 (+44.0%), from €46,251 to €66,590
- Staff costs -€15,431
down €15,431 (-4.7%), from €325,524 to €310,093
- Provisions +€8,000
no longer reported in 2025 (was -€8,000)
- Gross operating margin +€5,762
up €5,762 (+1.5%), from €393,731 to €399,493
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 | €557,560 | €542,118 | -€15,442 | -2.8% |
| Fixed assets | 21/28 | €436,055 | €429,631 | -€6,425 | -1.5% |
| Tangible fixed assets | 22/27 | €426,274 | €419,850 | -€6,425 | -1.5% |
| Plant, machinery and equipment | 23 | €3,095 | €20,690 | +€17,595 | +568% |
| Furniture and vehicles | 24 | €4,146 | €5,839 | +€1,693 | +40.8% |
| Other tangible fixed assets | 26 | €419,033 | €393,320 | -€25,713 | -6.1% |
| Financial fixed assets | 28 | €9,781 | €9,781 | = | 0.0% |
| Current assets | 29/58 | €121,505 | €112,487 | -€9,017 | -7.4% |
| Stocks and contracts in progress | 3 | €6,739 | €9,892 | +€3,153 | +46.8% |
| Stocks | 30/36 | €6,739 | €9,892 | +€3,153 | +46.8% |
| Amounts receivable within one year | 40/41 | €75,518 | €75,109 | -€409 | -0.5% |
| Trade receivables | 40 | €518 | €32 | -€485 | -93.7% |
| Other amounts receivable | 41 | €75,000 | €75,076 | +€76 | +0.1% |
| Cash at bank and in hand | 54/58 | €38,298 | €25,720 | -€12,577 | -32.8% |
| Deferred charges and accrued income | 490/1 | €950 | €1,766 | +€816 | +85.9% |
| Total equity and liabilities | 10/49 | €557,560 | €542,118 | -€15,442 | -2.8% |
| Equity | 10/15 | €127,158 | €135,397 | +€8,239 | +6.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,191 | €71,301 | +€13,110 | +22.5% |
| Investment grants | 15 | €38,967 | €34,096 | -€4,871 | -12.5% |
| Amounts payable | 17/49 | €430,401 | €406,721 | -€23,681 | -5.5% |
| Amounts payable after more than one year | 17 | €301,773 | €280,904 | -€20,869 | -6.9% |
| Financial debts | 170/4 | €301,773 | €280,904 | -€20,869 | -6.9% |
| Amounts payable within one year | 42/48 | €128,628 | €125,817 | -€2,811 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €67,123 | €65,369 | -€1,755 | -2.6% |
| Trade debts | 44 | €25,697 | €27,466 | +€1,770 | +6.9% |
| Suppliers | 440/4 | €25,697 | €27,466 | +€1,770 | +6.9% |
| Taxes, remuneration and social security | 45 | €29,019 | €32,922 | +€3,903 | +13.5% |
| Taxes | 450/3 | €4,684 | €6,643 | +€1,959 | +41.8% |
| Remuneration and social security | 454/9 | €24,335 | €26,279 | +€1,944 | +8.0% |
| Other amounts payable | 47/48 | €6,789 | €60 | -€6,729 | -99.1% |
| Remuneration, social security and pensions | 62 | €325,524 | €310,093 | -€15,431 | -4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,251 | €66,590 | +€20,339 | +44.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€8,000 | - | +€8,000 | |
| Other operating charges | 640/8 | €1,105 | €1,140 | +€35 | +3.2% |
| Gross operating margin | 9900 | €393,731 | €399,493 | +€5,762 | +1.5% |
| Operating profit (loss) | 9901 | €28,851 | €21,671 | -€7,180 | -24.9% |
| Financial income | 75/76B | €5,754 | €5,990 | +€236 | +4.1% |
| Recurring financial income | 75 | €5,754 | €5,990 | +€236 | +4.1% |
| Financial charges | 65/66B | €13,503 | €15,418 | +€1,915 | +14.2% |
| Recurring financial charges | 65 | €13,503 | €15,418 | +€1,915 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €21,102 | €12,243 | -€8,859 | -42.0% |
| Income taxes | 67/77 | €2,728 | -€867 | -€3,594 | |
| Profit (loss) for the period | 9904 | €18,374 | €13,110 | -€5,265 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,374 | €13,110 | -€5,265 | -28.7% |
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 19 October 2026 via checked.be.