BLAUW 61: 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.
BLAUW 61
Largest movements
- Cash -€91,638
down €91,638 (-67.0%), from €136,731 to €45,094
mainly Net result for the year (-€93,103) and Tax, wage and social debts (-€4,658)
- Tangible fixed assets -€6,221
down €6,221 (-32.0%), from €19,457 to €13,237
of which Plant, machinery and equipment: -€4,721
- Profit (loss) carried forward -€93,103
new in 2025: -€93,103
- Other debts +€4,687
up €4,687 (+575%), from €815 to €5,502
- Tax, wage and social debts -€4,658
down €4,658 (-46.5%), from €10,023 to €5,365
of which Taxes: -€3,588
- Trade debts -€3,824
down €3,824 (-76.1%), from €5,026 to €1,202
- Taxes +€132,095
new in 2025: €132,095
- Gross operating margin -€41,168
down €41,168 (-46.6%), from €88,329 to €47,161
- Depreciation -€3,314
down €3,314 (-34.8%), from €9,535 to €6,221
- Other operating charges -€1,604
down €1,604 (-42.3%), from €3,792 to €2,188
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €163,296 | €66,398 | -€96,898 | -59.3% |
| Fixed assets | 21/28 | €19,457 | €13,237 | -€6,221 | -32.0% |
| Tangible fixed assets | 22/27 | €19,457 | €13,237 | -€6,221 | -32.0% |
| Plant, machinery and equipment | 23 | €17,957 | €13,237 | -€4,721 | -26.3% |
| Furniture and vehicles | 24 | €1,500 | - | -€1,500 | |
| Current assets | 29/58 | €143,839 | €53,162 | -€90,677 | -63.0% |
| Stocks and contracts in progress | 3 | €6,227 | €6,614 | +€387 | +6.2% |
| Stocks | 30/36 | €6,227 | €6,614 | +€387 | +6.2% |
| Amounts receivable within one year | 40/41 | €880 | €1,454 | +€574 | +65.2% |
| Trade receivables | 40 | €567 | €1,127 | +€560 | +98.8% |
| Other amounts receivable | 41 | €313 | €327 | +€14 | +4.3% |
| Cash at bank and in hand | 54/58 | €136,731 | €45,094 | -€91,638 | -67.0% |
| Total equity and liabilities | 10/49 | €163,296 | €66,398 | -€96,898 | -59.3% |
| Equity | 10/15 | €147,433 | €54,330 | -€93,103 | -63.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €141,233 | €141,233 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €139,373 | €139,373 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€93,103 | -€93,103 | |
| Amounts payable | 17/49 | €15,863 | €12,068 | -€3,795 | -23.9% |
| Amounts payable within one year | 42/48 | €15,863 | €12,068 | -€3,795 | -23.9% |
| Trade debts | 44 | €5,026 | €1,202 | -€3,824 | -76.1% |
| Suppliers | 440/4 | €5,026 | €1,202 | -€3,824 | -76.1% |
| Taxes, remuneration and social security | 45 | €10,023 | €5,365 | -€4,658 | -46.5% |
| Taxes | 450/3 | €4,353 | €765 | -€3,588 | -82.4% |
| Remuneration and social security | 454/9 | €5,670 | €4,600 | -€1,070 | -18.9% |
| Other amounts payable | 47/48 | €815 | €5,502 | +€4,687 | +575% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,535 | €6,221 | -€3,314 | -34.8% |
| Other operating charges | 640/8 | €3,792 | €2,188 | -€1,604 | -42.3% |
| Gross operating margin | 9900 | €88,329 | €47,161 | -€41,168 | -46.6% |
| Operating profit (loss) | 9901 | €75,002 | €38,752 | -€36,250 | -48.3% |
| Financial income | 75/76B | €41 | €316 | +€275 | +666% |
| Recurring financial income | 75 | €41 | €316 | +€275 | +666% |
| Financial charges | 65/66B | €128 | €77 | -€51 | -40.1% |
| Recurring financial charges | 65 | €128 | €77 | -€51 | -40.1% |
| Profit (loss) for the period before taxes | 9903 | €74,915 | €38,992 | -€35,923 | -48.0% |
| Income taxes | 67/77 | - | €132,095 | +€132,095 | |
| Profit (loss) for the period | 9904 | €74,915 | -€93,103 | -€168,018 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,915 | -€93,103 | -€168,018 |
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 17 October 2026 via checked.be.