BLAISE: 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.
BLAISE
Largest movements
- Cash -€101,592
down €101,592 (-9.6%), from €1.1m to €957,874
mainly Contributions, distributions and other (-€206,902) and Investment in fixed assets (net) (-€55,775)
- Receivables within one year +€42,185
up €42,185 (+21.5%), from €196,615 to €238,800
of which Trade receivables: +€41,539
- Profit (loss) carried forward -€61,902
down €61,902 (-11.8%), from €524,978 to €463,076
- Tax, wage and social debts +€47,721
up €47,721 (+28.0%), from €170,241 to €217,962
of which Taxes: +€53,706
- Trade debts -€33,272
down €33,272 (-11.2%), from €297,325 to €264,053
- Reserves +€18,558
up €18,558 (+3.4%), from €539,424 to €557,982
of which Distributable reserves: +€24,998
- Purchases and services +€2.4m
new in 2025: €2.4m
- Gross operating margin +€63,699
up €63,699 (+20.6%), from €309,041 to €372,740
- Taxes +€56,163
up €56,163 (+72.7%), from €77,241 to €133,404
- Other operating charges -€5,424
down €5,424 (-64.3%), from €8,437 to €3,013
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,547,055 | €1,512,604 | -€34,450 | -2.2% |
| Fixed assets | 21/28 | €68,313 | €77,548 | +€9,235 | +13.5% |
| Tangible fixed assets | 22/27 | €68,313 | €77,548 | +€9,235 | +13.5% |
| Land and buildings | 22 | €1,503 | €956 | -€547 | -36.4% |
| Plant, machinery and equipment | 23 | €6,587 | €42,699 | +€36,112 | +548% |
| Furniture and vehicles | 24 | €37,850 | €32,990 | -€4,861 | -12.8% |
| Leasing and similar rights | 25 | €22,373 | €903 | -€21,469 | -96.0% |
| Current assets | 29/58 | €1,478,741 | €1,435,056 | -€43,685 | -3.0% |
| Stocks and contracts in progress | 3 | €198,509 | €204,706 | +€6,197 | +3.1% |
| Stocks | 30/36 | €198,509 | €204,706 | +€6,197 | +3.1% |
| Amounts receivable within one year | 40/41 | €196,615 | €238,800 | +€42,185 | +21.5% |
| Trade receivables | 40 | €183,773 | €225,312 | +€41,539 | +22.6% |
| Other amounts receivable | 41 | €12,842 | €13,488 | +€647 | +5.0% |
| Cash at bank and in hand | 54/58 | €1,059,465 | €957,874 | -€101,592 | -9.6% |
| Deferred charges and accrued income | 490/1 | €24,152 | €33,677 | +€9,525 | +39.4% |
| Total equity and liabilities | 10/49 | €1,547,055 | €1,512,604 | -€34,450 | -2.2% |
| Equity | 10/15 | €1,071,447 | €1,028,103 | -€43,344 | -4.0% |
| Contributions | 10/11 | €7,045 | €7,045 | = | 0.0% |
| Reserves | 13 | €539,424 | €557,982 | +€18,558 | +3.4% |
| Non-distributable reserves | 130/1 | €1,983 | €1,983 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,983 | €1,983 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,440 | - | -€6,440 | |
| Distributable reserves | 133 | €531,001 | €555,999 | +€24,998 | +4.7% |
| Profit (loss) carried forward | 14 | €524,978 | €463,076 | -€61,902 | -11.8% |
| Provisions and deferred taxes | 16 | €3,973 | €1,268 | -€2,705 | -68.1% |
| Deferred taxes | 168 | €3,973 | €1,268 | -€2,705 | -68.1% |
| Amounts payable | 17/49 | €471,635 | €483,233 | +€11,599 | +2.5% |
| Amounts payable within one year | 42/48 | €471,343 | €483,233 | +€11,891 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €2,470 | - | -€2,470 | |
| Trade debts | 44 | €297,325 | €264,053 | -€33,272 | -11.2% |
| Suppliers | 440/4 | €297,325 | €264,053 | -€33,272 | -11.2% |
| Taxes, remuneration and social security | 45 | €170,241 | €217,962 | +€47,721 | +28.0% |
| Taxes | 450/3 | €158,412 | €212,118 | +€53,706 | +33.9% |
| Remuneration and social security | 454/9 | €11,829 | €5,844 | -€5,985 | -50.6% |
| Other amounts payable | 47/48 | €1,308 | €1,219 | -€89 | -6.8% |
| Accrued charges and deferred income | 492/3 | €292 | - | -€292 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €2,447,940 | +€2.4m | |
| Remuneration, social security and pensions | 62 | €26,735 | €28,162 | +€1,427 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,855 | €46,540 | +€3,685 | +8.6% |
| Other operating charges | 640/8 | €8,437 | €3,013 | -€5,424 | -64.3% |
| Non-recurring operating charges | 66A | €739 | - | -€739 | |
| Gross operating margin | 9900 | €309,041 | €372,740 | +€63,699 | +20.6% |
| Operating profit (loss) | 9901 | €230,274 | €295,024 | +€64,750 | +28.1% |
| Financial income | 75/76B | €2,947 | €2,060 | -€888 | -30.1% |
| Recurring financial income | 75 | €2,947 | €2,060 | -€888 | -30.1% |
| Financial charges | 65/66B | €3,746 | €2,828 | -€918 | -24.5% |
| Recurring financial charges | 65 | €3,746 | €2,828 | -€918 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €229,476 | €294,256 | +€64,781 | +28.2% |
| Transfer from deferred taxes | 780 | €2,705 | €2,705 | = | 0.0% |
| Income taxes | 67/77 | €77,241 | €133,404 | +€56,163 | +72.7% |
| Profit (loss) for the period | 9904 | €154,940 | €163,558 | +€8,618 | +5.6% |
| Transfer from tax-exempt reserves | 789 | €6,440 | €6,440 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €161,380 | €169,998 | +€8,618 | +5.3% |
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 15 October 2026 via checked.be.