BL CONCEPT: 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
BL CONCEPT
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€22,917
2024 · €55,283-€32,366
Equity
€1.4m
2024 · €1.4m+€9,699
Cash
€4,299
2024 · €1,312+€2,988
Balance sheet total
€4.7m
2024 · €3.9m+€828,942
Largest movements
Assets
- Receivables within one year +€859,767
up €859,767 (+140%), from €612,054 to €1.5m
of which Other amounts receivable: +€853,033
- Tangible fixed assets -€92,754
down €92,754 (-6.9%), from €1.3m to €1.3m
of which Land and buildings: -€92,950
- Receivables after one year +€53,838
up €53,838 (+2.8%), from €2.0m to €2.0m
Equity and liabilities
- Debts after one year +€588,428
up €588,428 (+29.8%), from €2.0m to €2.6m
- Trade debts +€133,687
up €133,687 (+357%), from €37,499 to €171,187
- Other debts +€67,930
up €67,930 (+26.9%), from €252,203 to €320,134
- Current portion of long-term debt +€54,034
up €54,034 (+37.0%), from €146,205 to €200,239
Income statement
- Gross operating margin -€51,957
down €51,957 (-34.0%), from €152,848 to €100,891
- Taxes -€11,719
down €11,719 (-45.6%), from €25,696 to €13,977
- Financial income +€9,378
up €9,378 (+11.0%), from €85,117 to €94,494
- Depreciation -€8,088
down €8,088 (-7.8%), from €104,174 to €96,087
- Other operating charges +€6,432
up €6,432 (+45.9%), from €14,009 to €20,441
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
€55,283
Gross operating margin
-€51,957
Staff costs
-€13
Depreciation
+€8,088
Other operating charges
-€6,432
Financial income
+€9,378
Financial charges
-€3,148
Taxes
+€11,719
Result 2025
€22,917
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
-€622,923
Investment
-€3,333
Financing
+€629,244
Cash 2024
€1,312
From operations (derived)
-€622,923
Net result for the year
+€22,917
Depreciation
+€96,087
Receivables after one year
-€53,838
Receivables within one year
-€859,767
Deferred charges and accrued income
-€5,104
Provisions
-€8,102
Trade debts
+€133,687
Tax, wage and social debts
-€24,209
Other debts
+€67,930
Accrued charges and deferred income
+€7,475
Investment (derived)
-€3,333
Investment in fixed assets (net)
-€3,333
Financing
+€629,244
Debts after one year
+€588,428
Current portion of long-term debt
+€54,034
Contributions, distributions and other
-€13,218
Cash 2025
€4,299
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,913,107 | €4,742,049 | +€828,942 | +21.2% |
| Fixed assets | 21/28 | €1,346,593 | €1,253,839 | -€92,754 | -6.9% |
| Tangible fixed assets | 22/27 | €1,346,593 | €1,253,839 | -€92,754 | -6.9% |
| Land and buildings | 22 | €1,309,994 | €1,217,045 | -€92,950 | -7.1% |
| Furniture and vehicles | 24 | €8,593 | €5,456 | -€3,137 | -36.5% |
| Other tangible fixed assets | 26 | €28,005 | €31,338 | +€3,333 | +11.9% |
| Current assets | 29/58 | €2,566,514 | €3,488,210 | +€921,696 | +35.9% |
| Amounts receivable after more than one year | 29 | €1,953,024 | €2,006,862 | +€53,838 | +2.8% |
| Other amounts receivable | 291 | €1,953,024 | €2,006,862 | +€53,838 | +2.8% |
| Amounts receivable within one year | 40/41 | €612,054 | €1,471,820 | +€859,767 | +140% |
| Trade receivables | 40 | €1,568 | €8,301 | +€6,733 | +429% |
| Other amounts receivable | 41 | €610,486 | €1,463,519 | +€853,033 | +140% |
| Cash at bank and in hand | 54/58 | €1,312 | €4,299 | +€2,988 | +228% |
| Deferred charges and accrued income | 490/1 | €125 | €5,229 | +€5,104 | +4,081% |
| Total equity and liabilities | 10/49 | €3,913,107 | €4,742,049 | +€828,942 | +21.2% |
| Equity | 10/15 | €1,378,812 | €1,388,511 | +€9,699 | +0.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €298,524 | €274,218 | -€24,306 | -8.1% |
| Non-distributable reserves | 130/1 | €6,846 | €6,846 | = | 0.0% |
| Legal reserve | 130 | €6,846 | €6,846 | = | 0.0% |
| Tax-exempt reserves | 132 | €261,639 | €237,333 | -€24,306 | -9.3% |
| Distributable reserves | 133 | €30,039 | €30,039 | = | 0.0% |
| Profit (loss) carried forward | 14 | €912,545 | €959,768 | +€47,223 | +5.2% |
| Investment grants | 15 | €105,743 | €92,526 | -€13,218 | -12.5% |
| Provisions and deferred taxes | 16 | €81,863 | €73,761 | -€8,102 | -9.9% |
| Deferred taxes | 168 | €81,863 | €73,761 | -€8,102 | -9.9% |
| Amounts payable | 17/49 | €2,452,432 | €3,279,777 | +€827,345 | +33.7% |
| Amounts payable after more than one year | 17 | €1,976,708 | €2,565,136 | +€588,428 | +29.8% |
| Financial debts | 170/4 | €1,976,708 | €2,565,136 | +€588,428 | +29.8% |
| Amounts payable within one year | 42/48 | €475,724 | €707,166 | +€231,442 | +48.7% |
| Current portion of amounts payable after more than one year | 42 | €146,205 | €200,239 | +€54,034 | +37.0% |
| Trade debts | 44 | €37,499 | €171,187 | +€133,687 | +357% |
| Suppliers | 440/4 | €37,499 | €171,187 | +€133,687 | +357% |
| Taxes, remuneration and social security | 45 | €39,817 | €15,607 | -€24,209 | -60.8% |
| Taxes | 450/3 | €39,817 | €15,607 | -€24,209 | -60.8% |
| Other amounts payable | 47/48 | €252,203 | €320,134 | +€67,930 | +26.9% |
| Accrued charges and deferred income | 492/3 | - | €7,475 | +€7,475 | |
| Remuneration, social security and pensions | 62 | €33 | €47 | +€13 | +40.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,174 | €96,087 | -€8,088 | -7.8% |
| Other operating charges | 640/8 | €14,009 | €20,441 | +€6,432 | +45.9% |
| Gross operating margin | 9900 | €152,848 | €100,891 | -€51,957 | -34.0% |
| Operating profit (loss) | 9901 | €34,631 | -€15,684 | -€50,315 | |
| Financial income | 75/76B | €85,117 | €94,494 | +€9,378 | +11.0% |
| Recurring financial income | 75 | €85,117 | €94,494 | +€9,378 | +11.0% |
| Financial charges | 65/66B | €46,871 | €50,019 | +€3,148 | +6.7% |
| Recurring financial charges | 65 | €46,871 | €50,019 | +€3,148 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | €72,877 | €28,791 | -€44,085 | -60.5% |
| Transfer from deferred taxes | 780 | €8,102 | €8,102 | = | 0.0% |
| Income taxes | 67/77 | €25,696 | €13,977 | -€11,719 | -45.6% |
| Profit (loss) for the period | 9904 | €55,283 | €22,917 | -€32,366 | -58.5% |
| Transfer from tax-exempt reserves | 789 | €24,306 | €24,306 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €79,589 | €47,223 | -€32,366 | -40.7% |
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 19 October 2026 via checked.be.