BLADEL: 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.
BLADEL
Largest movements
- Cash -€22,163
down €22,163 (-51.7%), from €42,849 to €20,687
mainly Debts after one year (-€29,206) and Investment in fixed assets (net) (-€16,647)
- Tangible fixed assets -€20,340
down €20,340 (-4.2%), from €480,902 to €460,562
of which Land and buildings: -€20,236
- Current investments +€5,935
up €5,935 (+21.1%), from €28,065 to €34,000
- Debts after one year -€29,206
down €29,206 (-10.0%), from €292,555 to €263,349
- Trade debts -€8,229
down €8,229 (-91.4%), from €8,999 to €770
- Reserves +€7,731
up €7,731 (+3.5%), from €221,388 to €229,119
of which Distributable reserves: +€7,731
- Gross operating margin +€6,072
up €6,072 (+11.8%), from €51,336 to €57,408
- Depreciation +€4,520
up €4,520 (+13.9%), from €32,467 to €36,987
- Financial charges +€1,120
up €1,120 (+29.4%), from €3,813 to €4,932
- Financial income -€791
down €791 (-76.3%), from €1,038 to €246
- Taxes -€600
down €600 (-18.7%), from €3,208 to €2,608
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 | €568,181 | €537,121 | -€31,060 | -5.5% |
| Fixed assets | 21/28 | €480,902 | €460,562 | -€20,340 | -4.2% |
| Tangible fixed assets | 22/27 | €480,902 | €460,562 | -€20,340 | -4.2% |
| Land and buildings | 22 | €377,432 | €357,197 | -€20,236 | -5.4% |
| Plant, machinery and equipment | 23 | €102,714 | €103,170 | +€457 | +0.4% |
| Furniture and vehicles | 24 | €756 | €195 | -€561 | -74.2% |
| Current assets | 29/58 | €87,279 | €76,559 | -€10,720 | -12.3% |
| Amounts receivable within one year | 40/41 | €11,518 | €15,466 | +€3,948 | +34.3% |
| Other amounts receivable | 41 | €11,518 | €15,466 | +€3,948 | +34.3% |
| Current investments | 50/53 | €28,065 | €34,000 | +€5,935 | +21.1% |
| Cash at bank and in hand | 54/58 | €42,849 | €20,687 | -€22,163 | -51.7% |
| Deferred charges and accrued income | 490/1 | €4,846 | €6,406 | +€1,560 | +32.2% |
| Total equity and liabilities | 10/49 | €568,181 | €537,121 | -€31,060 | -5.5% |
| Equity | 10/15 | €235,024 | €242,755 | +€7,731 | +3.3% |
| Contributions | 10/11 | €13,636 | €13,636 | = | 0.0% |
| Reserves | 13 | €221,388 | €229,119 | +€7,731 | +3.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €219,529 | €227,260 | +€7,731 | +3.5% |
| Amounts payable | 17/49 | €333,157 | €294,365 | -€38,791 | -11.6% |
| Amounts payable after more than one year | 17 | €292,555 | €263,349 | -€29,206 | -10.0% |
| Financial debts | 170/4 | €292,555 | €263,349 | -€29,206 | -10.0% |
| Amounts payable within one year | 42/48 | €38,923 | €29,016 | -€9,907 | -25.5% |
| Current portion of amounts payable after more than one year | 42 | €29,924 | €28,246 | -€1,678 | -5.6% |
| Trade debts | 44 | €8,999 | €770 | -€8,229 | -91.4% |
| Suppliers | 440/4 | €8,999 | €770 | -€8,229 | -91.4% |
| Accrued charges and deferred income | 492/3 | €1,679 | €2,000 | +€322 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,467 | €36,987 | +€4,520 | +13.9% |
| Other operating charges | 640/8 | €5,522 | €5,396 | -€126 | -2.3% |
| Gross operating margin | 9900 | €51,336 | €57,408 | +€6,072 | +11.8% |
| Operating profit (loss) | 9901 | €13,347 | €15,025 | +€1,678 | +12.6% |
| Financial income | 75/76B | €1,038 | €246 | -€791 | -76.3% |
| Recurring financial income | 75 | €1,038 | €246 | -€791 | -76.3% |
| Financial charges | 65/66B | €3,813 | €4,932 | +€1,120 | +29.4% |
| Recurring financial charges | 65 | €3,813 | €4,932 | +€1,120 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | €10,572 | €10,339 | -€233 | -2.2% |
| Income taxes | 67/77 | €3,208 | €2,608 | -€600 | -18.7% |
| Profit (loss) for the period | 9904 | €7,364 | €7,731 | +€368 | +5.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,364 | €7,731 | +€368 | +5.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.