We propose a scenario in which the dark components of the Universe are manifestations of a single bulk viscous fluid. Using dynamical system methods, a qualitative study of the homogeneous, isotropic background scenario is performed in order to determine the phase space of all possible solutions. The specific model which we investigate shares similarities with a generalized Chaplygin gas in the background but is characterized by non-adiabatic pressure perturbations. This model is tested against supernova type Ia and matter power spectrum data. Different from other unified descriptions of dark matter and dark energy, the matter power spectrum is well behaved, i.e., there are no instabilities or oscillations on small perturbation scales. The model is competitive in comparison with the currently most popular proposals for the description of the cosmological dark sector.

25 pages, 5 figures, comments and references added, accepted for publication in PRD