B.L.Ex.: 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.
B.L.Ex.
Largest movements
- Receivables within one year -€94,107
down €94,107 (-72.8%), from €129,224 to €35,117
of which Trade receivables: -€85,746
- Intangible fixed assets -€36,000
down €36,000 (-43.2%), from €83,244 to €47,244
- Cash +€17,540
up €17,540 (+69.1%), from €25,386 to €42,926
mainly Receivables within one year (+€94,107) and Depreciation (+€36,589)
- Profit (loss) carried forward -€30,156
down €30,156, from €14,277 to -€15,878
- Trade debts -€30,130
down €30,130 (-69.1%), from €43,585 to €13,455
- Tax, wage and social debts -€28,838
down €28,838 (-94.5%), from €30,501 to €1,663
of which Taxes: -€27,716
- Debts after one year -€25,861
down €25,861 (-25.6%), from €101,094 to €75,233
- Gross operating margin -€84,161
down €84,161 (-55.5%), from €151,662 to €67,502
- Staff costs +€15,699
up €15,699 (+43.2%), from €36,362 to €52,061
- Taxes -€9,697
no longer reported in 2025 (was €9,697)
- Other operating charges +€7,195
new in 2025: €7,195
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 | €239,220 | €126,064 | -€113,156 | -47.3% |
| Fixed assets | 21/28 | €84,610 | €48,021 | -€36,589 | -43.2% |
| Intangible fixed assets | 21 | €83,244 | €47,244 | -€36,000 | -43.2% |
| Tangible fixed assets | 22/27 | €1,366 | €777 | -€589 | -43.1% |
| Furniture and vehicles | 24 | €1,366 | €777 | -€589 | -43.1% |
| Current assets | 29/58 | €154,610 | €78,043 | -€76,567 | -49.5% |
| Amounts receivable within one year | 40/41 | €129,224 | €35,117 | -€94,107 | -72.8% |
| Trade receivables | 40 | €116,421 | €30,675 | -€85,746 | -73.7% |
| Other amounts receivable | 41 | €12,803 | €4,442 | -€8,361 | -65.3% |
| Cash at bank and in hand | 54/58 | €25,386 | €42,926 | +€17,540 | +69.1% |
| Total equity and liabilities | 10/49 | €239,220 | €126,064 | -€113,156 | -47.3% |
| Equity | 10/15 | €38,230 | €8,074 | -€30,156 | -78.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €18,953 | €18,953 | = | 0.0% |
| Distributable reserves | 133 | €18,953 | €18,953 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,277 | -€15,878 | -€30,156 | |
| Amounts payable | 17/49 | €200,990 | €117,990 | -€83,001 | -41.3% |
| Amounts payable after more than one year | 17 | €101,094 | €75,233 | -€25,861 | -25.6% |
| Financial debts | 170/4 | €101,094 | €75,233 | -€25,861 | -25.6% |
| Amounts payable within one year | 42/48 | €99,897 | €42,357 | -€57,540 | -57.6% |
| Current portion of amounts payable after more than one year | 42 | €25,100 | €25,861 | +€761 | +3.0% |
| Trade debts | 44 | €43,585 | €13,455 | -€30,130 | -69.1% |
| Suppliers | 440/4 | €43,585 | €13,455 | -€30,130 | -69.1% |
| Taxes, remuneration and social security | 45 | €30,501 | €1,663 | -€28,838 | -94.5% |
| Taxes | 450/3 | €27,716 | - | -€27,716 | |
| Remuneration and social security | 454/9 | €2,784 | €1,663 | -€1,121 | -40.3% |
| Other amounts payable | 47/48 | €712 | €1,378 | +€666 | +93.6% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €36,362 | €52,061 | +€15,699 | +43.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,589 | €36,589 | = | 0.0% |
| Other operating charges | 640/8 | - | €7,195 | +€7,195 | |
| Gross operating margin | 9900 | €151,662 | €67,502 | -€84,161 | -55.5% |
| Operating profit (loss) | 9901 | €78,711 | -€28,343 | -€107,054 | |
| Financial income | 75/76B | €4 | €1 | -€4 | -85.6% |
| Recurring financial income | 75 | €4 | €1 | -€4 | -85.6% |
| Financial charges | 65/66B | €5,215 | €4,313 | -€903 | -17.3% |
| Recurring financial charges | 65 | €5,215 | €4,313 | -€903 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €73,500 | -€32,656 | -€106,155 | |
| Income taxes | 67/77 | €9,697 | - | -€9,697 | |
| Profit (loss) for the period | 9904 | €63,802 | -€32,656 | -€96,458 | |
| Profit (loss) for the period to be appropriated | 9905 | €63,802 | -€32,656 | -€96,458 |
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 20 October 2026 via checked.be.