BLANC SUR BLANC: what changed
BLANC SUR BLANC
Largest movements
- Receivables within one year -€35,377
down €35,377 (-98.9%), from €35,775 to €399
of which Other amounts receivable: -€19,884
- Tangible fixed assets -€12,207
down €12,207 (-5.1%), from €239,203 to €226,996
of which Land and buildings: -€8,706
- Profit (loss) carried forward -€38,236
down €38,236 (-33.8%), from €113,260 to €75,024
- Other debts +€21,157
up €21,157 (+1,307%), from €1,619 to €22,776
- Debts after one year -€21,130
down €21,130 (-41.8%), from €50,536 to €29,405
- Short-term financial debts -€11,506
down €11,506 (-67.6%), from €17,032 to €5,526
- Financial charges -€57,025
down €57,025 (-94.2%), from €60,516 to €3,490
of which Non-recurring financial charges: -€52,200
- Gross operating margin -€13,939
down €13,939 (-337%), from -€4,130 to -€18,069
- Other operating charges -€1,580
down €1,580 (-27.1%), from €5,837 to €4,257
- Depreciation +€1,540
up €1,540 (+14.4%), from €10,668 to €12,207
- Financial income -€350
down €350 (-99.3%), from €353 to €3
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €275,918 | €228,334 | -€47,585 | -17.2% |
| Fixed assets | 21/28 | €240,137 | €227,929 | -€12,207 | -5.1% |
| Tangible fixed assets | 22/27 | €239,203 | €226,996 | -€12,207 | -5.1% |
| Land and buildings | 22 | €220,706 | €212,000 | -€8,706 | -3.9% |
| Plant, machinery and equipment | 23 | €8,654 | €7,715 | -€938 | -10.8% |
| Furniture and vehicles | 24 | €9,844 | €7,280 | -€2,563 | -26.0% |
| Financial fixed assets | 28 | €934 | €934 | = | 0.0% |
| Current assets | 29/58 | €35,781 | €404 | -€35,377 | -98.9% |
| Amounts receivable within one year | 40/41 | €35,775 | €399 | -€35,377 | -98.9% |
| Trade receivables | 40 | €15,492 | - | -€15,492 | |
| Other amounts receivable | 41 | €20,283 | €399 | -€19,884 | -98.0% |
| Current investments | 50/53 | €6 | - | -€6 | |
| Cash at bank and in hand | 54/58 | - | €6 | +€6 | |
| Total equity and liabilities | 10/49 | €275,918 | €228,334 | -€47,585 | -17.2% |
| Equity | 10/15 | €184,129 | €145,892 | -€38,236 | -20.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €9,368 | €9,368 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,368 | €9,368 | = | 0.0% |
| Legal reserve | 130 | €9,368 | €9,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | €113,260 | €75,024 | -€38,236 | -33.8% |
| Amounts payable | 17/49 | €91,790 | €82,442 | -€9,348 | -10.2% |
| Amounts payable after more than one year | 17 | €50,536 | €29,405 | -€21,130 | -41.8% |
| Financial debts | 170/4 | €50,536 | €29,405 | -€21,130 | -41.8% |
| Amounts payable within one year | 42/48 | €41,254 | €53,036 | +€11,782 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €20,371 | €21,130 | +€760 | +3.7% |
| Financial debts | 43 | €17,032 | €5,526 | -€11,506 | -67.6% |
| Credit institutions | 430/8 | €17,032 | €5,526 | -€11,506 | -67.6% |
| Trade debts | 44 | €2,233 | €3,605 | +€1,371 | +61.4% |
| Suppliers | 440/4 | €2,233 | €3,605 | +€1,371 | +61.4% |
| Other amounts payable | 47/48 | €1,619 | €22,776 | +€21,157 | +1,307% |
| Non-recurring operating income | 76A | €6,612 | - | -€6,612 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,668 | €12,207 | +€1,540 | +14.4% |
| Other operating charges | 640/8 | €5,837 | €4,257 | -€1,580 | -27.1% |
| Gross operating margin | 9900 | -€4,130 | -€18,069 | -€13,939 | -337% |
| Operating profit (loss) | 9901 | -€20,635 | -€34,534 | -€13,899 | -67.4% |
| Financial income | 75/76B | €353 | €3 | -€350 | -99.3% |
| Recurring financial income | 75 | €353 | €3 | -€350 | -99.3% |
| Financial charges | 65/66B | €60,516 | €3,490 | -€57,025 | -94.2% |
| Recurring financial charges | 65 | €8,316 | €3,490 | -€4,825 | -58.0% |
| Non-recurring financial charges | 66B | €52,200 | - | -€52,200 | |
| Profit (loss) for the period before taxes | 9903 | -€80,798 | -€38,021 | +€42,776 | +52.9% |
| Income taxes | 67/77 | €340 | €215 | -€125 | -36.8% |
| Profit (loss) for the period | 9904 | -€81,138 | -€38,236 | +€42,902 | +52.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€81,138 | -€38,236 | +€42,902 | +52.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.