TULP: 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.
TULP
Largest movements
- Tangible fixed assets -€61,460
down €61,460 (-9.6%), from €640,282 to €578,822
- Receivables within one year -€18,000
down €18,000 (-25.6%), from €70,351 to €52,351
of which Trade receivables: -€22,500
- Debts after one year -€98,332
down €98,332 (-19.0%), from €517,552 to €419,220
of which Financial debts: -€98,332
- Profit (loss) carried forward +€10,557
up €10,557 (+15.9%), from €66,514 to €77,071
- Gross operating margin -€16,223
down €16,223 (-12.3%), from €131,485 to €115,262
- Financial charges -€7,510
down €7,510 (-24.5%), from €30,622 to €23,112
- Other operating charges -€7,355
down €7,355 (-31.1%), from €23,645 to €16,291
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 | €714,199 | €639,776 | -€74,423 | -10.4% |
| Fixed assets | 21/28 | €640,282 | €578,822 | -€61,460 | -9.6% |
| Tangible fixed assets | 22/27 | €640,282 | €578,822 | -€61,460 | -9.6% |
| Land and buildings | 22 | €640,282 | €578,822 | -€61,460 | -9.6% |
| Current assets | 29/58 | €73,917 | €60,954 | -€12,963 | -17.5% |
| Amounts receivable within one year | 40/41 | €70,351 | €52,351 | -€18,000 | -25.6% |
| Trade receivables | 40 | €52,500 | €30,000 | -€22,500 | -42.9% |
| Other amounts receivable | 41 | €17,851 | €22,351 | +€4,500 | +25.2% |
| Cash at bank and in hand | 54/58 | €987 | €5,989 | +€5,002 | +506.9% |
| Deferred charges and accrued income | 490/1 | €2,579 | €2,614 | +€35 | +1.3% |
| Total equity and liabilities | 10/49 | €714,199 | €639,776 | -€74,423 | -10.4% |
| Equity | 10/15 | €99,651 | €110,208 | +€10,557 | +10.6% |
| Contributions | 10/11 | €28,934 | €28,934 | = | 0.0% |
| Reserves | 13 | €4,203 | €4,203 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,893 | €2,893 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,893 | €2,893 | = | 0.0% |
| Distributable reserves | 133 | €1,309 | €1,309 | = | 0.0% |
| Profit (loss) carried forward | 14 | €66,514 | €77,071 | +€10,557 | +15.9% |
| Amounts payable | 17/49 | €614,548 | €529,569 | -€84,980 | -13.8% |
| Amounts payable after more than one year | 17 | €517,552 | €419,220 | -€98,332 | -19.0% |
| Financial debts | 170/4 | €338,855 | €240,523 | -€98,332 | -29.0% |
| Other amounts payable | 178/9 | €178,697 | €178,697 | = | 0.0% |
| Amounts payable within one year | 42/48 | €96,997 | €110,349 | +€13,352 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €92,203 | €98,332 | +€6,129 | +6.6% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | - | €3,380 | +€3,380 | |
| Suppliers | 440/4 | - | €3,380 | +€3,380 | |
| Taxes, remuneration and social security | 45 | €4,294 | €8,137 | +€3,843 | +89.5% |
| Taxes | 450/3 | €4,294 | €8,137 | +€3,843 | +89.5% |
| Other amounts payable | 47/48 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,460 | €61,460 | +€0 | 0.0% |
| Other operating charges | 640/8 | €23,645 | €16,291 | -€7,355 | -31.1% |
| Gross operating margin | 9900 | €131,485 | €115,262 | -€16,223 | -12.3% |
| Operating profit (loss) | 9901 | €46,380 | €37,512 | -€8,868 | -19.1% |
| Financial income | 75/76B | €0 | €0 | +€0 | +200.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +200.0% |
| Financial charges | 65/66B | €30,622 | €23,112 | -€7,510 | -24.5% |
| Recurring financial charges | 65 | €30,622 | €23,112 | -€7,510 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €15,758 | €14,400 | -€1,358 | -8.6% |
| Income taxes | 67/77 | €4,449 | €3,843 | -€606 | -13.6% |
| Profit (loss) for the period | 9904 | €11,309 | €10,557 | -€752 | -6.6% |
| Profit (loss) for the period to be appropriated | 9905 | €11,309 | €10,557 | -€752 | -6.6% |
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.