BL-INVEST: 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-INVEST
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€79,762
2024 · €6,435+€73,327
Equity
€1.5m
2024 · €1.4m+€79,762
Cash
€3,628
2024 · €31,823-€28,195
Balance sheet total
€3.4m
2024 · €3.5m-€133,124
Largest movements
Assets
- Receivables within one year -€93,855
down €93,855 (-44.9%), from €209,037 to €115,182
of which Other amounts receivable: -€112,814
Equity and liabilities
- Debts after one year -€137,841
down €137,841 (-27.7%), from €498,080 to €360,239
- Reserves +€79,762
up €79,762 (+5.8%), from €1.4m to €1.5m
- Current portion of long-term debt -€67,724
down €67,724 (-30.4%), from €222,861 to €155,138
Income statement
- Financial charges -€85,888
down €85,888 (-55.3%), from €155,346 to €69,458
of which Non-recurring financial charges: -€81,222
- Turnover -€32,194
down €32,194 (-10.9%), from €296,195 to €264,001
- Financial income +€14,278
up €14,278 (+4,311%), from €331 to €14,609
- Services and other goods +€14,166
up €14,166 (+15.5%), from €91,533 to €105,698
- Other operating income +€12,637
up €12,637 (+75.3%), from €16,777 to €29,414
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
€6,435
Turnover
-€32,194
Other operating income
+€12,637
Services and other goods
-€14,166
Depreciation
-€122
Other operating charges
+€739
Other operating items
-€2,400
Financial income
+€14,278
Financial charges
+€85,888
Taxes
+€8,667
Result 2025
€79,762
raises the resultlowers the resultnot broken down further in the accounts
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
+€192,022
Investment
-€14,653
Financing
-€205,564
Cash 2024
€31,823
From operations (derived)
+€192,022
Net result for the year
+€79,762
Depreciation
+€21,730
Receivables within one year
+€93,855
Deferred charges and accrued income
+€3,997
Trade debts
+€9,601
Tax, wage and social debts
-€20,115
Other debts
-€1,193
Accrued charges and deferred income
+€4,385
Investment (derived)
-€14,653
Investment in fixed assets (net)
-€14,653
Financing
-€205,564
Debts after one year
-€137,841
Current portion of long-term debt
-€67,724
Cash 2025
€3,628
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,531,415 | €3,398,291 | -€133,124 | -3.8% |
| Fixed assets | 21/28 | €3,270,089 | €3,263,013 | -€7,077 | -0.2% |
| Tangible fixed assets | 22/27 | €617,692 | €600,615 | -€17,077 | -2.8% |
| Land and buildings | 22 | €544,637 | €531,427 | -€13,209 | -2.4% |
| Plant, machinery and equipment | 23 | €1,864 | €1,279 | -€585 | -31.4% |
| Furniture and vehicles | 24 | €54,791 | €51,509 | -€3,282 | -6.0% |
| Other tangible fixed assets | 26 | €16,400 | €16,400 | = | 0.0% |
| Financial fixed assets | 28 | €2,652,398 | €2,662,398 | +€10,000 | +0.4% |
| Affiliated companies | 280/1 | €2,401,731 | €2,401,731 | = | 0.0% |
| Participating interests | 280 | €2,401,731 | €2,401,731 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €250,667 | €260,667 | +€10,000 | +4.0% |
| Participating interests | 282 | €250,667 | €260,667 | +€10,000 | +4.0% |
| Current assets | 29/58 | €261,326 | €135,278 | -€126,048 | -48.2% |
| Stocks and contracts in progress | 3 | €11,125 | €11,125 | = | 0.0% |
| Stocks | 30/36 | €11,125 | €11,125 | = | 0.0% |
| Goods purchased for resale | 34 | €11,125 | €11,125 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €209,037 | €115,182 | -€93,855 | -44.9% |
| Trade receivables | 40 | €35,461 | €54,420 | +€18,958 | +53.5% |
| Other amounts receivable | 41 | €173,576 | €60,762 | -€112,814 | -65.0% |
| Cash at bank and in hand | 54/58 | €31,823 | €3,628 | -€28,195 | -88.6% |
| Deferred charges and accrued income | 490/1 | €9,340 | €5,343 | -€3,997 | -42.8% |
| Total equity and liabilities | 10/49 | €3,531,415 | €3,398,291 | -€133,124 | -3.8% |
| Equity | 10/15 | €1,391,642 | €1,471,404 | +€79,762 | +5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,373,042 | €1,452,804 | +€79,762 | +5.8% |
| Distributable reserves | 133 | €1,373,042 | €1,452,804 | +€79,762 | +5.8% |
| Amounts payable | 17/49 | €2,139,773 | €1,926,887 | -€212,886 | -9.9% |
| Amounts payable after more than one year | 17 | €498,080 | €360,239 | -€137,841 | -27.7% |
| Financial debts | 170/4 | €498,080 | €360,239 | -€137,841 | -27.7% |
| Credit institutions | 173 | €498,080 | €360,239 | -€137,841 | -27.7% |
| Amounts payable within one year | 42/48 | €1,602,337 | €1,522,906 | -€79,430 | -5.0% |
| Current portion of amounts payable after more than one year | 42 | €222,861 | €155,138 | -€67,724 | -30.4% |
| Trade debts | 44 | €8,555 | €18,156 | +€9,601 | +112% |
| Suppliers | 440/4 | €8,555 | €18,156 | +€9,601 | +112% |
| Taxes, remuneration and social security | 45 | €110,317 | €90,202 | -€20,115 | -18.2% |
| Taxes | 450/3 | €107,670 | €87,531 | -€20,139 | -18.7% |
| Remuneration and social security | 454/9 | €2,648 | €2,671 | +€23 | +0.9% |
| Other amounts payable | 47/48 | €1,260,603 | €1,259,410 | -€1,193 | -0.1% |
| Accrued charges and deferred income | 492/3 | €39,356 | €43,741 | +€4,385 | +11.1% |
| Operating income | 70/76A | €312,972 | €293,415 | -€19,557 | -6.2% |
| Turnover | 70 | €296,195 | €264,001 | -€32,194 | -10.9% |
| Other operating income | 74 | €16,777 | €29,414 | +€12,637 | +75.3% |
| Operating charges | 60/66A | €117,354 | €133,303 | +€15,949 | +13.6% |
| Services and other goods | 61 | €91,533 | €105,698 | +€14,166 | +15.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,607 | €21,730 | +€122 | +0.6% |
| Other operating charges | 640/8 | €4,214 | €3,476 | -€739 | -17.5% |
| Non-recurring operating charges | 66A | - | €2,400 | +€2,400 | |
| Operating profit (loss) | 9901 | €195,617 | €160,111 | -€35,506 | -18.2% |
| Financial income | 75/76B | €331 | €14,609 | +€14,278 | +4,311% |
| Recurring financial income | 75 | €331 | €14,609 | +€14,278 | +4,311% |
| Income from financial fixed assets | 750 | €0 | €13,790 | +€13,790 | |
| Income from current assets | 751 | €331 | €773 | +€442 | +133% |
| Other financial income | 752/9 | €0 | €46 | +€46 | |
| Financial charges | 65/66B | €155,346 | €69,458 | -€85,888 | -55.3% |
| Recurring financial charges | 65 | €74,124 | €69,458 | -€4,666 | -6.3% |
| Debt charges | 650 | €73,538 | €68,810 | -€4,728 | -6.4% |
| Other financial charges | 652/9 | €586 | €648 | +€62 | +10.6% |
| Non-recurring financial charges | 66B | €81,222 | €0 | -€81,222 | -100% |
| Profit (loss) for the period before taxes | 9903 | €40,603 | €105,263 | +€64,660 | +159% |
| Income taxes | 67/77 | €34,168 | €25,501 | -€8,667 | -25.4% |
| Taxes | 670/3 | €34,168 | €25,501 | -€8,667 | -25.4% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €0 | +€0 | +700% |
| Profit (loss) for the period | 9904 | €6,435 | €79,762 | +€73,327 | +1,140% |
| Profit (loss) for the period to be appropriated | 9905 | €6,435 | €79,762 | +€73,327 | +1,140% |
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 27 October 2026 via checked.be.