BLADI: 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.
BLADI
Largest movements
- Receivables within one year -€135,624
down €135,624 (-78.6%), from €172,517 to €36,893
of which Trade receivables: -€135,372
- Stocks and contracts +€40,733
up €40,733 (+17.3%), from €235,215 to €275,948
- Tangible fixed assets +€22,598
up €22,598 (+58.1%), from €38,886 to €61,484
of which Furniture and vehicles: +€20,571
- Debts after one year -€280,000
no longer reported in 2025 (was €280,000)
- Other debts +€274,484
up €274,484 (+4178.9%), from €6,568 to €281,052
- Trade debts -€128,386
down €128,386 (-82.1%), from €156,368 to €27,982
- Reserves +€36,411
up €36,411 (+684.6%), from €5,319 to €41,729
- Tax, wage and social debts +€30,486
up €30,486 (+150.8%), from €20,217 to €50,703
of which Taxes: +€26,919
- Gross operating margin +€31,311
up €31,311 (+79.5%), from €39,373 to €70,684
- Staff costs -€10,424
down €10,424 (-93.5%), from €11,144 to €721
- Taxes +€8,413
up €8,413 (+608.7%), from €1,382 to €9,795
- Financial charges +€6,373
up €6,373 (+71.5%), from €8,915 to €15,288
- Other operating charges +€6,030
up €6,030 (+2022.1%), from €298 to €6,328
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 | €478,473 | €411,466 | -€67,006 | -14.0% |
| Fixed assets | 21/28 | €52,656 | €76,454 | +€23,798 | +45.2% |
| Tangible fixed assets | 22/27 | €38,886 | €61,484 | +€22,598 | +58.1% |
| Plant, machinery and equipment | 23 | €1,525 | €4,150 | +€2,625 | +172.1% |
| Furniture and vehicles | 24 | €31,897 | €52,467 | +€20,571 | +64.5% |
| Other tangible fixed assets | 26 | €5,464 | €4,867 | -€597 | -10.9% |
| Financial fixed assets | 28 | €13,770 | €14,970 | +€1,200 | +8.7% |
| Current assets | 29/58 | €425,817 | €335,012 | -€90,805 | -21.3% |
| Stocks and contracts in progress | 3 | €235,215 | €275,948 | +€40,733 | +17.3% |
| Stocks | 30/36 | €235,215 | €275,948 | +€40,733 | +17.3% |
| Amounts receivable within one year | 40/41 | €172,517 | €36,893 | -€135,624 | -78.6% |
| Trade receivables | 40 | €172,265 | €36,893 | -€135,372 | -78.6% |
| Other amounts receivable | 41 | €252 | - | -€252 | |
| Cash at bank and in hand | 54/58 | €18,084 | €22,171 | +€4,087 | +22.6% |
| Total equity and liabilities | 10/49 | €478,473 | €411,466 | -€67,006 | -14.0% |
| Equity | 10/15 | €15,319 | €51,729 | +€36,411 | +237.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €5,319 | €41,729 | +€36,411 | +684.6% |
| Distributable reserves | 133 | €5,319 | €41,729 | +€36,411 | +684.6% |
| Amounts payable | 17/49 | €463,154 | €359,737 | -€103,417 | -22.3% |
| Amounts payable after more than one year | 17 | €280,000 | - | -€280,000 | |
| Financial debts | 170/4 | €280,000 | - | -€280,000 | |
| Amounts payable within one year | 42/48 | €183,154 | €359,737 | +€176,583 | +96.4% |
| Trade debts | 44 | €156,368 | €27,982 | -€128,386 | -82.1% |
| Suppliers | 440/4 | €156,368 | €27,982 | -€128,386 | -82.1% |
| Taxes, remuneration and social security | 45 | €20,217 | €50,703 | +€30,486 | +150.8% |
| Taxes | 450/3 | €6,855 | €33,774 | +€26,919 | +392.7% |
| Remuneration and social security | 454/9 | €13,363 | €16,929 | +€3,566 | +26.7% |
| Other amounts payable | 47/48 | €6,568 | €281,052 | +€274,484 | +4178.9% |
| Non-recurring operating income | 76A | €3,587 | - | -€3,587 | |
| Remuneration, social security and pensions | 62 | €11,144 | €721 | -€10,424 | -93.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,407 | €6,804 | -€603 | -8.1% |
| Other operating charges | 640/8 | €298 | €6,328 | +€6,030 | +2022.1% |
| Gross operating margin | 9900 | €39,373 | €70,684 | +€31,311 | +79.5% |
| Operating profit (loss) | 9901 | €20,523 | €56,831 | +€36,308 | +176.9% |
| Financial income | 75/76B | €1,318 | €4,662 | +€3,344 | +253.7% |
| Recurring financial income | 75 | €1,318 | €4,662 | +€3,344 | +253.7% |
| Financial charges | 65/66B | €8,915 | €15,288 | +€6,373 | +71.5% |
| Recurring financial charges | 65 | €8,915 | €15,288 | +€6,373 | +71.5% |
| Profit (loss) for the period before taxes | 9903 | €12,927 | €46,206 | +€33,279 | +257.4% |
| Income taxes | 67/77 | €1,382 | €9,795 | +€8,413 | +608.7% |
| Profit (loss) for the period | 9904 | €11,544 | €36,411 | +€24,866 | +215.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,544 | €36,411 | +€24,866 | +215.4% |
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.