TULLEMANS: 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.
TULLEMANS
Largest movements
- Receivables within one year +€195,496
up €195,496 (+34.0%), from €574,764 to €770,260
of which Trade receivables: +€153,041
- Tangible fixed assets +€62,913
up €62,913 (+145.3%), from €43,296 to €106,210
of which Furniture and vehicles: +€83,139
- Cash -€50,039
down €50,039 (-59.8%), from €83,618 to €33,579
mainly Receivables within one year (-€195,496) and Investment in fixed assets (net) (-€89,468)
- Trade debts +€108,271
up €108,271 (+27.4%), from €395,348 to €503,620
- Other debts +€75,757
up €75,757 (+14.3%), from €528,232 to €603,989
- Profit (loss) carried forward +€49,410
up €49,410 (+11.3%), from -€437,019 to -€387,609
- Accrued charges and deferred income -€39,000
down €39,000 (-100.0%), from €39,000 to €0
- Tax, wage and social debts +€13,755
up €13,755 (+14.7%), from €93,289 to €107,044
- Gross operating margin +€52,358
up €52,358 (+132.7%), from €39,447 to €91,805
- Taxes +€6,349
up €6,349 (+63.1%), from €10,062 to €16,411
- Depreciation -€5,200
down €5,200 (-16.4%), from €31,755 to €26,555
- Other operating charges -€2,349
down €2,349 (-32.6%), from €7,209 to €4,860
- Financial charges +€1,658
up €1,658 (+10.0%), from €16,607 to €18,264
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 | €734,047 | €942,241 | +€208,194 | +28.4% |
| Fixed assets | 21/28 | €68,646 | €131,560 | +€62,913 | +91.6% |
| Tangible fixed assets | 22/27 | €43,296 | €106,210 | +€62,913 | +145.3% |
| Furniture and vehicles | 24 | €2,267 | €85,406 | +€83,139 | +3666.8% |
| Other tangible fixed assets | 26 | €41,029 | €20,803 | -€20,226 | -49.3% |
| Financial fixed assets | 28 | €25,350 | €25,350 | = | 0.0% |
| Current assets | 29/58 | €665,401 | €810,682 | +€145,280 | +21.8% |
| Amounts receivable within one year | 40/41 | €574,764 | €770,260 | +€195,496 | +34.0% |
| Trade receivables | 40 | €158,734 | €311,775 | +€153,041 | +96.4% |
| Other amounts receivable | 41 | €416,029 | €458,485 | +€42,456 | +10.2% |
| Cash at bank and in hand | 54/58 | €83,618 | €33,579 | -€50,039 | -59.8% |
| Deferred charges and accrued income | 490/1 | €7,020 | €6,843 | -€177 | -2.5% |
| Total equity and liabilities | 10/49 | €734,047 | €942,241 | +€208,194 | +28.4% |
| Equity | 10/15 | -€321,822 | -€272,412 | +€49,410 | +15.4% |
| Contributions | 10/11 | €20,575 | €20,575 | = | 0.0% |
| Reserves | 13 | €94,622 | €94,622 | = | 0.0% |
| Distributable reserves | 133 | €94,622 | €94,622 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€437,019 | -€387,609 | +€49,410 | +11.3% |
| Amounts payable | 17/49 | €1,055,869 | €1,214,653 | +€158,783 | +15.0% |
| Amounts payable within one year | 42/48 | €1,016,869 | €1,214,653 | +€197,783 | +19.5% |
| Trade debts | 44 | €395,348 | €503,620 | +€108,271 | +27.4% |
| Suppliers | 440/4 | €395,348 | €503,620 | +€108,271 | +27.4% |
| Taxes, remuneration and social security | 45 | €93,289 | €107,044 | +€13,755 | +14.7% |
| Taxes | 450/3 | €93,289 | €107,044 | +€13,755 | +14.7% |
| Other amounts payable | 47/48 | €528,232 | €603,989 | +€75,757 | +14.3% |
| Accrued charges and deferred income | 492/3 | €39,000 | €0 | -€39,000 | -100.0% |
| Non-recurring operating income | 76A | - | €57,394 | +€57,394 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,755 | €26,555 | -€5,200 | -16.4% |
| Other operating charges | 640/8 | €7,209 | €4,860 | -€2,349 | -32.6% |
| Gross operating margin | 9900 | €39,447 | €91,805 | +€52,358 | +132.7% |
| Operating profit (loss) | 9901 | €483 | €60,390 | +€59,908 | +12414.8% |
| Financial income | 75/76B | €24,347 | €23,695 | -€651 | -2.7% |
| Recurring financial income | 75 | €24,347 | €23,695 | -€651 | -2.7% |
| Financial charges | 65/66B | €16,607 | €18,264 | +€1,658 | +10.0% |
| Recurring financial charges | 65 | €16,607 | €18,264 | +€1,658 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €8,222 | €65,821 | +€57,599 | +700.5% |
| Income taxes | 67/77 | €10,062 | €16,411 | +€6,349 | +63.1% |
| Profit (loss) for the period | 9904 | -€1,839 | €49,410 | +€51,250 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,839 | €49,410 | +€51,250 |
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 29 September 2026 via checked.be.