BLANCO: 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.
BLANCO
Largest movements
- Receivables within one year -€10,633
down €10,633 (-27.5%), from €38,639 to €28,006
of which Trade receivables: -€10,633
- Tangible fixed assets -€7,706
down €7,706 (-13.4%), from €57,560 to €49,854
of which Land and buildings: -€7,318
- Cash -€7,075
down €7,075 (-20.6%), from €34,309 to €27,234
mainly Debts after one year (-€98,142) and Other debts (-€1,927)
- Debts after one year -€98,142
down €98,142 (-37.0%), from €265,216 to €167,074
- Profit (loss) carried forward +€69,401
up €69,401 (+28.5%), from -€243,464 to -€174,063
- Gross operating margin -€44,363
down €44,363 (-29.2%), from €152,070 to €107,707
- Financial charges -€3,562
down €3,562 (-17.6%), from €20,265 to €16,703
- Financial income -€2,230
down €2,230 (-100.0%), from €2,230 to €0
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 | €670,134 | €644,659 | -€25,475 | -3.8% |
| Fixed assets | 21/28 | €557,560 | €549,854 | -€7,706 | -1.4% |
| Tangible fixed assets | 22/27 | €57,560 | €49,854 | -€7,706 | -13.4% |
| Land and buildings | 22 | €57,077 | €49,759 | -€7,318 | -12.8% |
| Furniture and vehicles | 24 | €483 | €94 | -€388 | -80.4% |
| Financial fixed assets | 28 | €500,000 | €500,000 | = | 0.0% |
| Current assets | 29/58 | €112,574 | €94,805 | -€17,769 | -15.8% |
| Amounts receivable within one year | 40/41 | €38,639 | €28,006 | -€10,633 | -27.5% |
| Trade receivables | 40 | €19,708 | €9,075 | -€10,633 | -54.0% |
| Other amounts receivable | 41 | €18,931 | €18,931 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,309 | €27,234 | -€7,075 | -20.6% |
| Deferred charges and accrued income | 490/1 | €39,626 | €39,565 | -€61 | -0.2% |
| Total equity and liabilities | 10/49 | €670,134 | €644,659 | -€25,475 | -3.8% |
| Equity | 10/15 | €261,804 | €331,204 | +€69,401 | +26.5% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €381,268 | €381,268 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €868 | €868 | = | 0.0% |
| Distributable reserves | 133 | €368,000 | €368,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€243,464 | -€174,063 | +€69,401 | +28.5% |
| Amounts payable | 17/49 | €408,331 | €313,455 | -€94,876 | -23.2% |
| Amounts payable after more than one year | 17 | €265,216 | €167,074 | -€98,142 | -37.0% |
| Financial debts | 170/4 | €265,216 | €167,074 | -€98,142 | -37.0% |
| Amounts payable within one year | 42/48 | €140,375 | €144,811 | +€4,436 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €100,400 | €101,328 | +€927 | +0.9% |
| Trade debts | 44 | €13,302 | €18,259 | +€4,957 | +37.3% |
| Suppliers | 440/4 | €13,302 | €18,259 | +€4,957 | +37.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €6,275 | €6,754 | +€479 | +7.6% |
| Taxes | 450/3 | €3,605 | €4,066 | +€461 | +12.8% |
| Remuneration and social security | 454/9 | €2,670 | €2,688 | +€18 | +0.7% |
| Other amounts payable | 47/48 | €20,397 | €18,471 | -€1,927 | -9.4% |
| Accrued charges and deferred income | 492/3 | €2,739 | €1,569 | -€1,170 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,634 | €9,477 | -€157 | -1.6% |
| Other operating charges | 640/8 | €11,045 | €11,850 | +€804 | +7.3% |
| Non-recurring operating charges | 66A | €1,731 | €0 | -€1,731 | -100.0% |
| Gross operating margin | 9900 | €152,070 | €107,707 | -€44,363 | -29.2% |
| Operating profit (loss) | 9901 | €129,659 | €86,380 | -€43,279 | -33.4% |
| Financial income | 75/76B | €2,230 | €0 | -€2,230 | -100.0% |
| Recurring financial income | 75 | €2,230 | €0 | -€2,230 | -100.0% |
| Financial charges | 65/66B | €20,265 | €16,703 | -€3,562 | -17.6% |
| Recurring financial charges | 65 | €20,265 | €16,703 | -€3,562 | -17.6% |
| Profit (loss) for the period before taxes | 9903 | €111,624 | €69,677 | -€41,947 | -37.6% |
| Income taxes | 67/77 | €250 | €276 | +€26 | +10.4% |
| Profit (loss) for the period | 9904 | €111,374 | €69,401 | -€41,974 | -37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €111,374 | €69,401 | -€41,974 | -37.7% |
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 9 October 2026 via checked.be.