Blanco: what changed
Two fiscal 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
- Tangible fixed assets +€141,380
up €141,380 (+5.2%), from €2.7m to €2.9m
of which Land and buildings: +€140,869
- Profit (loss) carried forward +€207,909
up €207,909 (+39.3%), from -€529,632 to -€321,723
- Other debts +€156,001
up €156,001 (+9.1%), from €1.7m to €1.9m
- Reserves -€151,526
down €151,526 (-95.3%), from €159,013 to €7,487
of which Tax-exempt reserves: -€151,526
- Provisions -€78,024
no longer reported in 2025 (was €78,024)
- Gross operating margin +€12,977
up €12,977 (+38.2%), from €33,958 to €46,935
- Depreciation +€12,491
up €12,491 (+29.2%), from €42,798 to €55,289
- Taxes -€3,105
no longer reported in 2025 (was €3,105)
- Financial charges -€1,018
down €1,018 (-67.6%), from €1,506 to €488
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 | €3,059,209 | €3,193,489 | +€134,280 | +4.4% |
| Fixed assets | 21/28 | €2,711,985 | €2,853,366 | +€141,380 | +5.2% |
| Tangible fixed assets | 22/27 | €2,711,985 | €2,853,366 | +€141,380 | +5.2% |
| Land and buildings | 22 | €2,708,201 | €2,849,069 | +€140,869 | +5.2% |
| Plant, machinery and equipment | 23 | €3,784 | €4,296 | +€512 | +13.5% |
| Current assets | 29/58 | €347,224 | €340,123 | -€7,100 | -2.0% |
| Amounts receivable after more than one year | 29 | €251,762 | €254,279 | +€2,518 | +1.0% |
| Trade receivables | 290 | €251,762 | €254,279 | +€2,518 | +1.0% |
| Amounts receivable within one year | 40/41 | €88,042 | €70,674 | -€17,368 | -19.7% |
| Trade receivables | 40 | - | €1,679 | +€1,679 | |
| Other amounts receivable | 41 | €88,042 | €68,996 | -€19,047 | -21.6% |
| Cash at bank and in hand | 54/58 | €6,476 | €12,369 | +€5,894 | +91.0% |
| Deferred charges and accrued income | 490/1 | €944 | €2,800 | +€1,856 | +196.6% |
| Total equity and liabilities | 10/49 | €3,059,209 | €3,193,489 | +€134,280 | +4.4% |
| Equity | 10/15 | €1,258,273 | €1,314,657 | +€56,383 | +4.5% |
| Contributions | 10/11 | €372,000 | €372,000 | = | 0.0% |
| Capital | 10 | €372,000 | €372,000 | = | 0.0% |
| Issued capital | 100 | €372,000 | €372,000 | = | 0.0% |
| Revaluation surpluses | 12 | €1,256,893 | €1,256,893 | = | 0.0% |
| Reserves | 13 | €159,013 | €7,487 | -€151,526 | -95.3% |
| Non-distributable reserves | 130/1 | €524 | €524 | = | 0.0% |
| Legal reserve | 130 | €524 | €524 | = | 0.0% |
| Tax-exempt reserves | 132 | €151,526 | - | -€151,526 | |
| Distributable reserves | 133 | €6,963 | €6,963 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€529,632 | -€321,723 | +€207,909 | +39.3% |
| Provisions and deferred taxes | 16 | €78,024 | - | -€78,024 | |
| Deferred taxes | 168 | €78,024 | - | -€78,024 | |
| Amounts payable | 17/49 | €1,722,911 | €1,878,832 | +€155,921 | +9.0% |
| Amounts payable after more than one year | 17 | €4,277 | €4,320 | +€43 | +1.0% |
| Financial debts | 170/4 | €4,277 | €4,320 | +€43 | +1.0% |
| Amounts payable within one year | 42/48 | €1,710,279 | €1,874,512 | +€164,233 | +9.6% |
| Trade debts | 44 | €2,599 | €10,831 | +€8,232 | +316.7% |
| Suppliers | 440/4 | €2,599 | €10,831 | +€8,232 | +316.7% |
| Other amounts payable | 47/48 | €1,707,679 | €1,863,681 | +€156,001 | +9.1% |
| Accrued charges and deferred income | 492/3 | €8,355 | - | -€8,355 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,798 | €55,289 | +€12,491 | +29.2% |
| Other operating charges | 640/8 | €15,944 | €16,140 | +€196 | +1.2% |
| Gross operating margin | 9900 | €33,958 | €46,935 | +€12,977 | +38.2% |
| Operating profit (loss) | 9901 | -€24,784 | -€24,494 | +€290 | +1.2% |
| Financial income | 75/76B | €2,967 | €3,341 | +€374 | +12.6% |
| Recurring financial income | 75 | €2,967 | €3,341 | +€374 | +12.6% |
| Financial charges | 65/66B | €1,506 | €488 | -€1,018 | -67.6% |
| Recurring financial charges | 65 | €1,506 | €488 | -€1,018 | -67.6% |
| Profit (loss) for the period before taxes | 9903 | -€23,322 | -€21,641 | +€1,681 | +7.2% |
| Transfer from deferred taxes | 780 | - | €78,024 | +€78,024 | |
| Income taxes | 67/77 | €3,105 | - | -€3,105 | |
| Profit (loss) for the period | 9904 | -€26,427 | €56,383 | +€82,810 | |
| Transfer from tax-exempt reserves | 789 | - | €151,526 | +€151,526 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,427 | €207,909 | +€234,336 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.