BLATT: 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.
BLATT
Largest movements
- Receivables within one year -€311,423
down €311,423 (-90.4%), from €344,523 to €33,100
of which Trade receivables: -€309,563
- Tangible fixed assets +€118,366
up €118,366 (+126.7%), from €93,439 to €211,805
of which Land and buildings: +€129,211
- Cash -€116,968
down €116,968 (-58.3%), from €200,532 to €83,564
mainly Other debts (-€364,510) and Investment in fixed assets (net) (-€142,249)
- Other debts -€364,510
down €364,510 (-91.5%), from €398,221 to €33,711
- Profit (loss) carried forward +€45,666
up €45,666 (+238.7%), from €19,128 to €64,794
- Reserves +€19,129
up €19,129 (+10.0%), from €190,770 to €209,899
of which Distributable reserves: +€19,129
- Tax, wage and social debts -€7,008
no longer reported in 2025 (was €7,008)
of which Remuneration and social security: -€5,515
- Gross operating margin +€78,562
up €78,562 (+167.9%), from €46,798 to €125,360
- Taxes +€25,463
up €25,463 (+268.0%), from €9,501 to €34,964
- Depreciation +€7,113
up €7,113 (+42.4%), from €16,770 to €23,883
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 | €638,494 | €328,469 | -€310,025 | -48.6% |
| Fixed assets | 21/28 | €93,439 | €211,805 | +€118,366 | +126.7% |
| Tangible fixed assets | 22/27 | €93,439 | €211,805 | +€118,366 | +126.7% |
| Land and buildings | 22 | €69,941 | €199,152 | +€129,211 | +184.7% |
| Furniture and vehicles | 24 | €23,498 | €12,653 | -€10,845 | -46.2% |
| Current assets | 29/58 | €545,055 | €116,664 | -€428,391 | -78.6% |
| Amounts receivable within one year | 40/41 | €344,523 | €33,100 | -€311,423 | -90.4% |
| Trade receivables | 40 | €341,823 | €32,260 | -€309,563 | -90.6% |
| Other amounts receivable | 41 | €2,700 | €840 | -€1,860 | -68.9% |
| Cash at bank and in hand | 54/58 | €200,532 | €83,564 | -€116,968 | -58.3% |
| Total equity and liabilities | 10/49 | €638,494 | €328,469 | -€310,025 | -48.6% |
| Equity | 10/15 | €229,898 | €294,693 | +€64,795 | +28.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €190,770 | €209,899 | +€19,129 | +10.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €188,770 | €207,899 | +€19,129 | +10.1% |
| Profit (loss) carried forward | 14 | €19,128 | €64,794 | +€45,666 | +238.7% |
| Amounts payable | 17/49 | €408,596 | €33,776 | -€374,820 | -91.7% |
| Amounts payable within one year | 42/48 | €408,596 | €33,776 | -€374,820 | -91.7% |
| Trade debts | 44 | €3,367 | €65 | -€3,302 | -98.1% |
| Suppliers | 440/4 | €3,367 | €65 | -€3,302 | -98.1% |
| Taxes, remuneration and social security | 45 | €7,008 | - | -€7,008 | |
| Taxes | 450/3 | €1,493 | - | -€1,493 | |
| Remuneration and social security | 454/9 | €5,515 | - | -€5,515 | |
| Other amounts payable | 47/48 | €398,221 | €33,711 | -€364,510 | -91.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,770 | €23,883 | +€7,113 | +42.4% |
| Other operating charges | 640/8 | €1,075 | €1,240 | +€165 | +15.3% |
| Gross operating margin | 9900 | €46,798 | €125,360 | +€78,562 | +167.9% |
| Operating profit (loss) | 9901 | €28,953 | €100,237 | +€71,284 | +246.2% |
| Financial charges | 65/66B | €325 | €478 | +€153 | +47.1% |
| Recurring financial charges | 65 | €325 | €478 | +€153 | +47.1% |
| Profit (loss) for the period before taxes | 9903 | €28,628 | €99,759 | +€71,131 | +248.5% |
| Income taxes | 67/77 | €9,501 | €34,964 | +€25,463 | +268.0% |
| Profit (loss) for the period | 9904 | €19,127 | €64,795 | +€45,668 | +238.8% |
| Profit (loss) for the period to be appropriated | 9905 | €19,127 | €64,795 | +€45,668 | +238.8% |
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.