BL 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.
BL GROUP
Largest movements
- Receivables within one year +€42,054
up €42,054 (+26.0%), from €161,570 to €203,625
of which Trade receivables: +€30,017
- Stocks and contracts -€32,235
down €32,235 (-77.2%), from €41,735 to €9,500
- Cash -€25,229
down €25,229 (-96.7%), from €26,087 to €858
mainly Trade debts (-€77,587) and Receivables within one year (-€42,054)
- Tangible fixed assets +€8,326
up €8,326 (+18.4%), from €45,252 to €53,578
of which Furniture and vehicles: +€5,770
- Trade debts -€77,587
down €77,587 (-88.6%), from €87,573 to €9,985
- Other debts +€31,314
up €31,314 (+855.5%), from €3,660 to €34,974
- Tax, wage and social debts +€24,355
up €24,355 (+231.8%), from €10,505 to €34,860
of which Remuneration and social security: +€24,172
- Short-term financial debts +€22,874
up €22,874 (+92.5%), from €24,727 to €47,601
- Profit (loss) carried forward -€4,166
down €4,166 (-4.3%), from €96,713 to €92,547
- Taxes +€5,802
up €5,802 (+1416.0%), from €410 to €6,212
- Other operating charges +€5,402
up €5,402 (+432.6%), from €1,249 to €6,651
- Financial charges -€4,003
down €4,003 (-27.6%), from €14,500 to €10,497
of which Non-recurring financial charges: -€9,973
- Gross operating margin -€3,881
down €3,881 (-7.1%), from €54,834 to €50,953
- Staff costs +€1,119
up €1,119 (+5.7%), from €19,486 to €20,605
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.
Cash bridge derived
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 | €274,894 | €267,811 | -€7,083 | -2.6% |
| Fixed assets | 21/28 | €45,502 | €53,828 | +€8,326 | +18.3% |
| Tangible fixed assets | 22/27 | €45,252 | €53,578 | +€8,326 | +18.4% |
| Plant, machinery and equipment | 23 | €5,360 | €7,916 | +€2,556 | +47.7% |
| Furniture and vehicles | 24 | €39,892 | €45,662 | +€5,770 | +14.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €229,392 | €213,983 | -€15,409 | -6.7% |
| Stocks and contracts in progress | 3 | €41,735 | €9,500 | -€32,235 | -77.2% |
| Stocks | 30/36 | €41,735 | €9,500 | -€32,235 | -77.2% |
| Amounts receivable within one year | 40/41 | €161,570 | €203,625 | +€42,054 | +26.0% |
| Trade receivables | 40 | €102,639 | €132,657 | +€30,017 | +29.2% |
| Other amounts receivable | 41 | €58,931 | €70,968 | +€12,037 | +20.4% |
| Cash at bank and in hand | 54/58 | €26,087 | €858 | -€25,229 | -96.7% |
| Total equity and liabilities | 10/49 | €274,894 | €267,811 | -€7,083 | -2.6% |
| Equity | 10/15 | €127,173 | €123,007 | -€4,166 | -3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,860 | €11,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,713 | €92,547 | -€4,166 | -4.3% |
| Amounts payable | 17/49 | €147,721 | €144,804 | -€2,918 | -2.0% |
| Amounts payable within one year | 42/48 | €147,155 | €144,804 | -€2,352 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €20,690 | €17,383 | -€3,307 | -16.0% |
| Financial debts | 43 | €24,727 | €47,601 | +€22,874 | +92.5% |
| Credit institutions | 430/8 | €24,727 | €47,601 | +€22,874 | +92.5% |
| Trade debts | 44 | €87,573 | €9,985 | -€77,587 | -88.6% |
| Suppliers | 440/4 | €87,573 | €9,985 | -€77,587 | -88.6% |
| Taxes, remuneration and social security | 45 | €10,505 | €34,860 | +€24,355 | +231.8% |
| Taxes | 450/3 | €879 | €1,062 | +€182 | +20.7% |
| Remuneration and social security | 454/9 | €9,626 | €33,798 | +€24,172 | +251.1% |
| Other amounts payable | 47/48 | €3,660 | €34,974 | +€31,314 | +855.5% |
| Accrued charges and deferred income | 492/3 | €566 | - | -€566 | |
| Remuneration, social security and pensions | 62 | €19,486 | €20,605 | +€1,119 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,857 | €4,454 | +€597 | +15.5% |
| Other operating charges | 640/8 | €1,249 | €6,651 | +€5,402 | +432.6% |
| Non-recurring operating charges | 66A | - | €6,700 | +€6,700 | |
| Gross operating margin | 9900 | €54,834 | €50,953 | -€3,881 | -7.1% |
| Operating profit (loss) | 9901 | €30,242 | €12,543 | -€17,699 | -58.5% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €14,500 | €10,497 | -€4,003 | -27.6% |
| Recurring financial charges | 65 | €4,527 | €10,497 | +€5,970 | +131.9% |
| Non-recurring financial charges | 66B | €9,973 | - | -€9,973 | |
| Profit (loss) for the period before taxes | 9903 | €15,743 | €2,046 | -€13,697 | -87.0% |
| Income taxes | 67/77 | €410 | €6,212 | +€5,802 | +1416.0% |
| Profit (loss) for the period | 9904 | €15,333 | -€4,166 | -€19,499 | |
| Profit (loss) for the period to be appropriated | 9905 | €15,333 | -€4,166 | -€19,499 |
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 10 October 2026 via checked.be.