BELGIAN BLUE GROUP: 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.
What changed
BELGIAN BLUE GROUP
NACE 01.450, Raising of sheep and goats
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€426,075
2024 · €232,226+€193,848
Equity
€3.4m
2024 · €3.5m-€23,925
Cash
€2.0m
2024 · €1.6m+€344,981
Balance sheet total
€5.8m
2024 · €6.5m-€671,302
Largest movements
Assets
- Current investments -€978,966
down €978,966 (-57.5%), from €1.7m to €723,056
- Cash +€344,981
up €344,981 (+20.9%), from €1.6m to €2.0m
mainly Current investments (+€978,966) and Net result for the year (+€426,075)
- Tangible fixed assets +€147,195
up €147,195 (+39.3%), from €374,666 to €521,861
of which Other tangible fixed assets: +€142,081
- Receivables within one year -€146,072
down €146,072 (-10.8%), from €1.4m to €1.2m
of which Trade receivables: -€156,014
- Stocks and contracts -€80,108
down €80,108 (-5.8%), from €1.4m to €1.3m
Equity and liabilities
- Trade debts -€724,111
down €724,111 (-36.4%), from €2.0m to €1.3m
Income statement
- Gross operating margin +€363,851
up €363,851 (+35.7%), from €1.0m to €1.4m
- Turnover +€225,877
up €225,877 (+3.2%), from €7.0m to €7.3m
- Staff costs +€103,340
up €103,340 (+22.6%), from €457,409 to €560,749
- Taxes +€80,345
up €80,345 (+104%), from €77,204 to €157,549
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.
Result 2024
€232,226
Gross operating margin
+€363,851
Staff costs
-€103,340
Depreciation
-€26,760
Write-downs
+€31,264
Provisions
+€22,803
Other operating charges
+€2,512
Financial income
-€9,428
Financial charges
-€6,707
Taxes
-€80,345
Result 2025
€426,075
raises the resultlowers the result
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.
From operations
+€205,012
Investment
+€589,969
Financing
-€450,000
Cash 2024
€1.6m
From operations (derived)
+€205,012
Net result for the year
+€426,075
Depreciation
+€212,986
Stocks and contracts
+€80,108
Receivables within one year
+€146,072
Deferred charges and accrued income
-€12,852
Provisions
+€27,714
Trade debts
-€724,111
Tax, wage and social debts
+€56,021
Accrued charges and deferred income
-€7,001
Investment (derived)
+€589,969
Investment in fixed assets (net)
-€388,998
Current investments
+€978,966
Financing
-€450,000
Contributions, distributions and other
-€450,000
Cash 2025
€2.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,464,915 | €5,793,613 | -€671,302 | -10.4% |
| Fixed assets | 21/28 | €374,676 | €550,688 | +€176,012 | +47.0% |
| Intangible fixed assets | 21 | - | €28,817 | +€28,817 | |
| Tangible fixed assets | 22/27 | €374,666 | €521,861 | +€147,195 | +39.3% |
| Furniture and vehicles | 24 | €10,372 | €15,486 | +€5,114 | +49.3% |
| Other tangible fixed assets | 26 | €364,294 | €506,375 | +€142,081 | +39.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €9 | €9 | = | 0.0% |
| Current assets | 29/58 | €6,090,239 | €5,242,926 | -€847,314 | -13.9% |
| Stocks and contracts in progress | 3 | €1,376,895 | €1,296,787 | -€80,108 | -5.8% |
| Stocks | 30/36 | €1,376,895 | €1,296,787 | -€80,108 | -5.8% |
| Amounts receivable within one year | 40/41 | €1,353,026 | €1,206,954 | -€146,072 | -10.8% |
| Trade receivables | 40 | €1,202,209 | €1,046,195 | -€156,014 | -13.0% |
| Other amounts receivable | 41 | €150,818 | €160,760 | +€9,942 | +6.6% |
| Current investments | 50/53 | €1,702,023 | €723,056 | -€978,966 | -57.5% |
| Cash at bank and in hand | 54/58 | €1,648,063 | €1,993,044 | +€344,981 | +20.9% |
| Deferred charges and accrued income | 490/1 | €10,232 | €23,084 | +€12,852 | +126% |
| Total equity and liabilities | 10/49 | €6,464,915 | €5,793,613 | -€671,302 | -10.4% |
| Equity | 10/15 | €3,458,581 | €3,434,655 | -€23,925 | -0.7% |
| Contributions | 10/11 | €1,950,000 | €1,950,000 | = | 0.0% |
| Revaluation surpluses | 12 | €0 | - | = | |
| Reserves | 13 | €1,508,581 | €1,484,655 | -€23,925 | -1.6% |
| Distributable reserves | 133 | €1,508,581 | €1,484,655 | -€23,925 | -1.6% |
| Provisions and deferred taxes | 16 | €507,257 | €534,971 | +€27,714 | +5.5% |
| Provisions for liabilities and charges | 160/5 | €507,257 | €534,971 | +€27,714 | +5.5% |
| Other liabilities and charges | 164/5 | €507,257 | €534,971 | +€27,714 | +5.5% |
| Amounts payable | 17/49 | €2,499,078 | €1,823,987 | -€675,090 | -27.0% |
| Amounts payable within one year | 42/48 | €2,491,644 | €1,823,554 | -€668,090 | -26.8% |
| Trade debts | 44 | €1,989,131 | €1,265,020 | -€724,111 | -36.4% |
| Suppliers | 440/4 | €1,989,131 | €1,265,020 | -€724,111 | -36.4% |
| Taxes, remuneration and social security | 45 | €52,513 | €108,535 | +€56,021 | +107% |
| Taxes | 450/3 | - | €45,100 | +€45,100 | |
| Remuneration and social security | 454/9 | €52,513 | €63,435 | +€10,921 | +20.8% |
| Other amounts payable | 47/48 | €450,000 | €450,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,434 | €433 | -€7,001 | -94.2% |
| Turnover | 70 | €7,047,756 | €7,273,633 | +€225,877 | +3.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €6,312,481 | €6,295,843 | -€16,637 | -0.3% |
| Remuneration, social security and pensions | 62 | €457,409 | €560,749 | +€103,340 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,225 | €212,986 | +€26,760 | +14.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,034 | -€9,229 | -€31,264 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €50,517 | €27,714 | -€22,803 | -45.1% |
| Other operating charges | 640/8 | €55,485 | €52,974 | -€2,512 | -4.5% |
| Gross operating margin | 9900 | €1,020,351 | €1,384,202 | +€363,851 | +35.7% |
| Operating profit (loss) | 9901 | €248,680 | €539,009 | +€290,329 | +117% |
| Financial income | 75/76B | €37,387 | €27,958 | -€9,428 | -25.2% |
| Recurring financial income | 75 | €37,387 | €27,958 | -€9,428 | -25.2% |
| Financial charges | 65/66B | -€23,363 | -€16,656 | +€6,707 | +28.7% |
| Recurring financial charges | 65 | -€23,363 | -€16,656 | +€6,707 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €309,430 | €583,624 | +€274,194 | +88.6% |
| Income taxes | 67/77 | €77,204 | €157,549 | +€80,345 | +104% |
| Profit (loss) for the period | 9904 | €232,226 | €426,075 | +€193,848 | +83.5% |
| Profit (loss) for the period to be appropriated | 9905 | €232,226 | €426,075 | +€193,848 | +83.5% |
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 17 October 2026 via checked.be.