BLANC-BLUE: 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.
BLANC-BLUE
Largest movements
- Receivables within one year +€61,950
up €61,950 (+27.9%), from €221,691 to €283,640
of which Other amounts receivable: +€41,799
- Cash -€61,351
down €61,351 (-34.8%), from €176,165 to €114,814
mainly Receivables within one year (-€61,950) and Investment in fixed assets (net) (-€40,891)
- Tangible fixed assets +€31,850
up €31,850 (+133%), from €23,952 to €55,803
- Current portion of long-term debt +€33,037
up €33,037 (+110%), from €30,000 to €63,037
- Trade debts -€13,656
down €13,656 (-5.8%), from €236,448 to €222,792
- Tax, wage and social debts +€10,292
up €10,292 (+5.3%), from €195,852 to €206,144
of which Remuneration and social security: +€20,196
- Staff costs +€118,679
up €118,679 (+17.2%), from €691,717 to €810,396
- Gross operating margin +€58,776
up €58,776 (+6.8%), from €865,988 to €924,765
- Taxes +€37,698
up €37,698 (+79.5%), from €47,446 to €85,144
- Other operating charges -€20,872
down €20,872 (-68.2%), from €30,620 to €9,748
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 | €425,557 | €458,011 | +€32,454 | +7.6% |
| Fixed assets | 21/28 | €24,394 | €56,244 | +€31,850 | +131% |
| Tangible fixed assets | 22/27 | €23,952 | €55,803 | +€31,850 | +133% |
| Land and buildings | 22 | - | €14,708 | +€14,708 | |
| Plant, machinery and equipment | 23 | €11,702 | €24,058 | +€12,356 | +106% |
| Furniture and vehicles | 24 | €12,250 | €12,095 | -€156 | -1.3% |
| Other tangible fixed assets | 26 | - | €4,942 | +€4,942 | |
| Financial fixed assets | 28 | €441 | €441 | = | 0.0% |
| Current assets | 29/58 | €401,163 | €401,767 | +€604 | +0.2% |
| Stocks and contracts in progress | 3 | €2,871 | €2,871 | = | 0.0% |
| Stocks | 30/36 | €2,871 | €2,871 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €221,691 | €283,640 | +€61,950 | +27.9% |
| Trade receivables | 40 | €186,997 | €207,147 | +€20,150 | +10.8% |
| Other amounts receivable | 41 | €34,694 | €76,493 | +€41,799 | +120% |
| Cash at bank and in hand | 54/58 | €176,165 | €114,814 | -€61,351 | -34.8% |
| Deferred charges and accrued income | 490/1 | €437 | €441 | +€5 | +1.1% |
| Total equity and liabilities | 10/49 | €425,557 | €458,011 | +€32,454 | +7.6% |
| Equity | 10/15 | -€37,154 | -€34,899 | +€2,254 | +6.1% |
| Contributions | 10/11 | €14,592 | €14,592 | = | 0.0% |
| Reserves | 13 | €1,525 | €1,525 | = | 0.0% |
| Distributable reserves | 133 | €1,525 | €1,525 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,270 | -€51,016 | +€2,254 | +4.2% |
| Amounts payable | 17/49 | €462,711 | €492,910 | +€30,200 | +6.5% |
| Amounts payable within one year | 42/48 | €462,711 | €492,910 | +€30,200 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €63,037 | +€33,037 | +110% |
| Financial debts | 43 | - | €937 | +€937 | |
| Credit institutions | 430/8 | - | €937 | +€937 | |
| Trade debts | 44 | €236,448 | €222,792 | -€13,656 | -5.8% |
| Suppliers | 440/4 | €236,448 | €222,792 | -€13,656 | -5.8% |
| Taxes, remuneration and social security | 45 | €195,852 | €206,144 | +€10,292 | +5.3% |
| Taxes | 450/3 | €81,383 | €71,479 | -€9,904 | -12.2% |
| Remuneration and social security | 454/9 | €114,470 | €134,666 | +€20,196 | +17.6% |
| Other amounts payable | 47/48 | €410 | - | -€410 | |
| Remuneration, social security and pensions | 62 | €691,717 | €810,396 | +€118,679 | +17.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,220 | €9,040 | +€2,820 | +45.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,355 | +€1,355 | |
| Other operating charges | 640/8 | €30,620 | €9,748 | -€20,872 | -68.2% |
| Gross operating margin | 9900 | €865,988 | €924,765 | +€58,776 | +6.8% |
| Operating profit (loss) | 9901 | €137,431 | €94,225 | -€43,206 | -31.4% |
| Financial income | 75/76B | €0 | €1,971 | +€1,971 | +9,857,100% |
| Recurring financial income | 75 | €0 | €1,971 | +€1,971 | +9,857,100% |
| Financial charges | 65/66B | €4,959 | €8,798 | +€3,840 | +77.4% |
| Recurring financial charges | 65 | €4,959 | €8,798 | +€3,840 | +77.4% |
| Profit (loss) for the period before taxes | 9903 | €132,473 | €87,398 | -€45,074 | -34.0% |
| Income taxes | 67/77 | €47,446 | €85,144 | +€37,698 | +79.5% |
| Profit (loss) for the period | 9904 | €85,027 | €2,254 | -€82,773 | -97.3% |
| Profit (loss) for the period to be appropriated | 9905 | €85,027 | €2,254 | -€82,773 | -97.3% |
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 22 October 2026 via checked.be.