4 Blue Eyes: 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.
4 Blue Eyes
Largest movements
- Financial fixed assets +€500,000
new in 2025: €500,000
- Cash +€41,945
up €41,945 (+124%), from €33,895 to €75,840
mainly Debts after one year (+€174,657) and Net result for the year (+€165,854)
- Receivables within one year +€29,501
up €29,501 (+736%), from €4,007 to €33,508
- Debts after one year +€174,657
up €174,657 (+97.0%), from €180,089 to €354,746
- Reserves +€165,000
up €165,000 (+27.9%), from €591,860 to €756,860
- Trade debts +€123,164
up €123,164 (+1,748%), from €7,044 to €130,208
- Current portion of long-term debt +€56,612
up €56,612 (+103%), from €54,864 to €111,476
- Tax, wage and social debts +€34,584
up €34,584 (+47.6%), from €72,612 to €107,196
- Gross operating margin +€94,067
up €94,067 (+42.3%), from €222,465 to €316,532
- Taxes +€32,139
up €32,139 (+60.3%), from €53,284 to €85,423
- Depreciation +€27,528
up €27,528 (+135%), from €20,415 to €47,943
- Other operating charges -€23,110
down €23,110 (-80.3%), from €28,767 to €5,656
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 | €1,020,198 | €1,581,669 | +€561,472 | +55.0% |
| Fixed assets | 21/28 | €982,296 | €1,472,321 | +€490,025 | +49.9% |
| Tangible fixed assets | 22/27 | €982,296 | €972,321 | -€9,975 | -1.0% |
| Land and buildings | 22 | €855,045 | €871,932 | +€16,887 | +2.0% |
| Plant, machinery and equipment | 23 | €5,607 | €3,074 | -€2,533 | -45.2% |
| Furniture and vehicles | 24 | €121,644 | €97,315 | -€24,329 | -20.0% |
| Financial fixed assets | 28 | - | €500,000 | +€500,000 | |
| Current assets | 29/58 | €37,902 | €109,348 | +€71,447 | +189% |
| Amounts receivable within one year | 40/41 | €4,007 | €33,508 | +€29,501 | +736% |
| Trade receivables | 40 | €4,007 | €33,508 | +€29,501 | +736% |
| Cash at bank and in hand | 54/58 | €33,895 | €75,840 | +€41,945 | +124% |
| Total equity and liabilities | 10/49 | €1,020,198 | €1,581,669 | +€561,472 | +55.0% |
| Equity | 10/15 | €633,628 | €799,482 | +€165,854 | +26.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €591,860 | €756,860 | +€165,000 | +27.9% |
| Distributable reserves | 133 | €591,860 | €756,860 | +€165,000 | +27.9% |
| Profit (loss) carried forward | 14 | €29,368 | €30,222 | +€854 | +2.9% |
| Amounts payable | 17/49 | €386,570 | €782,188 | +€395,618 | +102% |
| Amounts payable after more than one year | 17 | €180,089 | €354,746 | +€174,657 | +97.0% |
| Financial debts | 170/4 | €180,089 | €354,746 | +€174,657 | +97.0% |
| Amounts payable within one year | 42/48 | €198,741 | €419,702 | +€220,961 | +111% |
| Current portion of amounts payable after more than one year | 42 | €54,864 | €111,476 | +€56,612 | +103% |
| Trade debts | 44 | €7,044 | €130,208 | +€123,164 | +1,748% |
| Suppliers | 440/4 | €7,044 | €130,208 | +€123,164 | +1,748% |
| Taxes, remuneration and social security | 45 | €72,612 | €107,196 | +€34,584 | +47.6% |
| Taxes | 450/3 | €72,612 | €107,196 | +€34,584 | +47.6% |
| Other amounts payable | 47/48 | €64,221 | €70,821 | +€6,600 | +10.3% |
| Accrued charges and deferred income | 492/3 | €7,740 | €7,740 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,415 | €47,943 | +€27,528 | +135% |
| Other operating charges | 640/8 | €28,767 | €5,656 | -€23,110 | -80.3% |
| Gross operating margin | 9900 | €222,465 | €316,532 | +€94,067 | +42.3% |
| Operating profit (loss) | 9901 | €173,283 | €262,933 | +€89,650 | +51.7% |
| Financial income | 75/76B | €191 | €719 | +€529 | +277% |
| Recurring financial income | 75 | €191 | €719 | +€529 | +277% |
| Financial charges | 65/66B | €13,895 | €12,376 | -€1,519 | -10.9% |
| Recurring financial charges | 65 | €13,895 | €12,376 | -€1,519 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €159,579 | €251,277 | +€91,698 | +57.5% |
| Income taxes | 67/77 | €53,284 | €85,423 | +€32,139 | +60.3% |
| Profit (loss) for the period | 9904 | €106,296 | €165,854 | +€59,559 | +56.0% |
| Profit (loss) for the period to be appropriated | 9905 | €106,296 | €165,854 | +€59,559 | +56.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.