BLAARWEYDE: 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.
BLAARWEYDE
Largest movements
- Stocks and contracts +€4.5m
up €4.5m (+300.9%), from €1.5m to €6.0m
- Cash -€1.0m
down €1.0m (-43.1%), from €2.4m to €1.4m
mainly Stocks and contracts (-€4.5m) and Trade debts (-€59,888)
- Advances received +€1.9m
new in 2025: €1.9m
- Debts after one year +€1.0m
up €1.0m (+50.0%), from €2.0m to €3.0m
- Other debts +€515,600
up €515,600 (+137.0%), from €376,468 to €892,068
- Gross operating margin -€1.3m
down €1.3m (-93.5%), from €1.4m to €92,764
- Taxes -€440,059
down €440,059 (-98.6%), from €446,495 to €6,436
- Financial charges +€72,276
up €72,276 (+182.6%), from €39,592 to €111,869
- Financial income +€31,187
up €31,187 (+102.2%), from €30,509 to €61,696
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 | €4,125,817 | €7,530,433 | +€3.4m | +82.5% |
| Fixed assets | 21/28 | €71,638 | €94,211 | +€22,573 | +31.5% |
| Tangible fixed assets | 22/27 | €70,938 | €45,911 | -€25,027 | -35.3% |
| Furniture and vehicles | 24 | €70,938 | €45,911 | -€25,027 | -35.3% |
| Financial fixed assets | 28 | €700 | €48,300 | +€47,600 | +6800.0% |
| Current assets | 29/58 | €4,054,178 | €7,436,222 | +€3.4m | +83.4% |
| Stocks and contracts in progress | 3 | €1,488,494 | €5,967,714 | +€4.5m | +300.9% |
| Contracts in progress | 37 | €1,488,494 | €5,967,714 | +€4.5m | +300.9% |
| Amounts receivable within one year | 40/41 | €159,090 | €99,702 | -€59,388 | -37.3% |
| Trade receivables | 40 | €81,512 | €92,816 | +€11,304 | +13.9% |
| Other amounts receivable | 41 | €77,578 | €6,886 | -€70,692 | -91.1% |
| Cash at bank and in hand | 54/58 | €2,403,930 | €1,368,384 | -€1.0m | -43.1% |
| Deferred charges and accrued income | 490/1 | €2,664 | €423 | -€2,241 | -84.1% |
| Total equity and liabilities | 10/49 | €4,125,817 | €7,530,433 | +€3.4m | +82.5% |
| Equity | 10/15 | €1,512,219 | €1,521,928 | +€9,710 | +0.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €1,297,900 | €1,307,500 | +€9,600 | +0.7% |
| Distributable reserves | 133 | €1,297,900 | €1,307,500 | +€9,600 | +0.7% |
| Profit (loss) carried forward | 14 | €14,319 | €14,428 | +€110 | +0.8% |
| Amounts payable | 17/49 | €2,613,598 | €6,008,505 | +€3.4m | +129.9% |
| Amounts payable after more than one year | 17 | €2,000,000 | €3,000,000 | +€1.0m | +50.0% |
| Financial debts | 170/4 | €2,000,000 | €3,000,000 | +€1.0m | +50.0% |
| Amounts payable within one year | 42/48 | €613,598 | €3,008,505 | +€2.4m | +390.3% |
| Trade debts | 44 | €154,724 | €94,836 | -€59,888 | -38.7% |
| Suppliers | 440/4 | €154,724 | €94,836 | -€59,888 | -38.7% |
| Advances received on contracts in progress | 46 | - | €1,889,801 | +€1.9m | |
| Taxes, remuneration and social security | 45 | €82,406 | €131,800 | +€49,394 | +59.9% |
| Taxes | 450/3 | €82,406 | €131,800 | +€49,394 | +59.9% |
| Other amounts payable | 47/48 | €376,468 | €892,068 | +€515,600 | +137.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,022 | €25,027 | +€5 | 0.0% |
| Other operating charges | 640/8 | €1,379 | €1,418 | +€39 | +2.8% |
| Gross operating margin | 9900 | €1,434,474 | €92,764 | -€1.3m | -93.5% |
| Operating profit (loss) | 9901 | €1,408,073 | €66,319 | -€1.3m | -95.3% |
| Financial income | 75/76B | €30,509 | €61,696 | +€31,187 | +102.2% |
| Recurring financial income | 75 | €30,509 | €61,696 | +€31,187 | +102.2% |
| Financial charges | 65/66B | €39,592 | €111,869 | +€72,276 | +182.6% |
| Recurring financial charges | 65 | €39,592 | €111,869 | +€72,276 | +182.6% |
| Profit (loss) for the period before taxes | 9903 | €1,398,990 | €16,146 | -€1.4m | -98.8% |
| Income taxes | 67/77 | €446,495 | €6,436 | -€440,059 | -98.6% |
| Profit (loss) for the period | 9904 | €952,494 | €9,710 | -€942,785 | -99.0% |
| Profit (loss) for the period to be appropriated | 9905 | €952,494 | €9,710 | -€942,785 | -99.0% |
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 12 October 2026 via checked.be.