BLASCO: 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.
What changed
BLASCO
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1,033
2024 · €18,919-€19,953
Equity
€297,048
2024 · €379,269-€82,221
Cash
€79,507
2024 · €80,400-€893
Balance sheet total
€319,517
2024 · €465,458-€145,941
Largest movements
Assets
- Receivables after one year -€122,082
down €122,082 (-100%), from €122,082 to €0
- Tangible fixed assets -€14,198
down €14,198 (-7.5%), from €188,272 to €174,074
of which Land and buildings: -€11,734
- Receivables within one year -€8,334
down €8,334 (-21.2%), from €39,234 to €30,900
of which Trade receivables: -€7,162
Equity and liabilities
- Reserves -€94,621
down €94,621 (-25.4%), from €373,069 to €278,448
- Other debts -€67,132
down €67,132 (-100%), from €67,132 to €0
- Contributions +€12,400
up €12,400 (+200%), from €6,200 to €18,600
- Trade debts -€5,333
down €5,333 (-70.3%), from €7,583 to €2,250
Income statement
- Gross operating margin -€27,801
down €27,801 (-61.0%), from €45,555 to €17,754
- Taxes -€8,058
down €8,058 (-81.5%), from €9,891 to €1,833
- Financial charges -€1,402
down €1,402 (-86.7%), from €1,617 to €215
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.
Result 2024
€18,919
Gross operating margin
-€27,801
Depreciation
+€262
Write-downs
-€48
Other operating charges
+€297
Other operating items
-€1,922
Financial income
-€202
Financial charges
+€1,402
Taxes
+€8,058
Result 2025
-€1,033
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€82,681
Investment
-€3,200
Financing
-€80,374
Cash 2024
€80,400
From operations (derived)
+€82,681
Net result for the year
-€1,033
Depreciation
+€17,398
Receivables after one year
+€122,082
Receivables within one year
+€8,334
Deferred charges and accrued income
+€434
Trade debts
-€5,333
Tax, wage and social debts
+€4,474
Other debts
-€67,132
Accrued charges and deferred income
+€3,457
Investment (derived)
-€3,200
Investment in fixed assets (net)
-€3,200
Financing
-€80,374
Short-term financial debts
+€814
Contributions, distributions and other
-€81,187
Cash 2025
€79,507
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €465,458 | €319,517 | -€145,941 | -31.4% |
| Fixed assets | 21/28 | €188,272 | €174,074 | -€14,198 | -7.5% |
| Tangible fixed assets | 22/27 | €188,272 | €174,074 | -€14,198 | -7.5% |
| Land and buildings | 22 | €178,583 | €166,849 | -€11,734 | -6.6% |
| Plant, machinery and equipment | 23 | €5,238 | €4,875 | -€364 | -6.9% |
| Furniture and vehicles | 24 | €4,451 | €2,351 | -€2,100 | -47.2% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €277,186 | €145,443 | -€131,743 | -47.5% |
| Amounts receivable after more than one year | 29 | €122,082 | €0 | -€122,082 | -100% |
| Other amounts receivable | 291 | €122,082 | €0 | -€122,082 | -100% |
| Stocks and contracts in progress | 3 | €34,809 | €34,809 | = | 0.0% |
| Stocks | 30/36 | €34,809 | €34,809 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,234 | €30,900 | -€8,334 | -21.2% |
| Trade receivables | 40 | €22,162 | €15,000 | -€7,162 | -32.3% |
| Other amounts receivable | 41 | €17,071 | €15,900 | -€1,172 | -6.9% |
| Cash at bank and in hand | 54/58 | €80,400 | €79,507 | -€893 | -1.1% |
| Deferred charges and accrued income | 490/1 | €662 | €227 | -€434 | -65.6% |
| Total equity and liabilities | 10/49 | €465,458 | €319,517 | -€145,941 | -31.4% |
| Equity | 10/15 | €379,269 | €297,048 | -€82,221 | -21.7% |
| Contributions | 10/11 | €6,200 | €18,600 | +€12,400 | +200% |
| Reserves | 13 | €373,069 | €278,448 | -€94,621 | -25.4% |
| Distributable reserves | 133 | €373,069 | €278,448 | -€94,621 | -25.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €86,189 | €22,469 | -€63,720 | -73.9% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €85,896 | €18,719 | -€67,177 | -78.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €1,061 | €1,875 | +€814 | +76.7% |
| Credit institutions | 430/8 | €1,061 | €1,875 | +€814 | +76.7% |
| Trade debts | 44 | €7,583 | €2,250 | -€5,333 | -70.3% |
| Suppliers | 440/4 | €7,583 | €2,250 | -€5,333 | -70.3% |
| Taxes, remuneration and social security | 45 | €10,120 | €14,594 | +€4,474 | +44.2% |
| Taxes | 450/3 | €10,120 | €13,144 | +€3,024 | +29.9% |
| Remuneration and social security | 454/9 | - | €1,450 | +€1,450 | |
| Other amounts payable | 47/48 | €67,132 | €0 | -€67,132 | -100% |
| Accrued charges and deferred income | 492/3 | €293 | €3,750 | +€3,457 | +1,180% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,660 | €17,398 | -€262 | -1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €48 | +€48 | |
| Other operating charges | 640/8 | €1,396 | €1,099 | -€297 | -21.3% |
| Non-recurring operating charges | 66A | - | €1,922 | +€1,922 | |
| Gross operating margin | 9900 | €45,555 | €17,754 | -€27,801 | -61.0% |
| Operating profit (loss) | 9901 | €26,499 | -€2,712 | -€29,210 | |
| Financial income | 75/76B | €3,930 | €3,727 | -€202 | -5.2% |
| Recurring financial income | 75 | €3,930 | €3,727 | -€202 | -5.2% |
| Financial charges | 65/66B | €1,617 | €215 | -€1,402 | -86.7% |
| Recurring financial charges | 65 | €1,617 | €215 | -€1,402 | -86.7% |
| Profit (loss) for the period before taxes | 9903 | €28,811 | €800 | -€28,011 | -97.2% |
| Income taxes | 67/77 | €9,891 | €1,833 | -€8,058 | -81.5% |
| Profit (loss) for the period | 9904 | €18,919 | -€1,033 | -€19,953 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,919 | -€1,033 | -€19,953 |
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 14 October 2026 via checked.be.