BLAUW KWARTIER: 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 KWARTIER
Largest movements
- Cash -€49,753
down €49,753 (-64.9%), from €76,641 to €26,888
mainly Debts after one year (-€44,700) and Accrued charges and deferred income (-€14,841)
- Tangible fixed assets -€44,250
down €44,250 (-20.2%), from €219,270 to €175,021
of which Other tangible fixed assets: -€36,635
- Receivables within one year +€14,503
up €14,503 (+154%), from €9,428 to €23,931
of which Trade receivables: +€13,882
- Debts after one year -€44,700
down €44,700 (-20.1%), from €222,275 to €177,575
- Accrued charges and deferred income -€14,841
down €14,841 (-49.5%), from €29,994 to €15,153
- Trade debts -€11,375
down €11,375 (-36.0%), from €31,580 to €20,205
- Tax, wage and social debts -€9,977
down €9,977 (-84.9%), from €11,748 to €1,770
of which Remuneration and social security: -€7,017
- Gross operating margin +€51,711
up €51,711 (+44.2%), from €116,896 to €168,607
- Staff costs +€41,786
up €41,786 (+45.5%), from €91,824 to €133,611
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 | €317,554 | €238,024 | -€79,530 | -25.0% |
| Fixed assets | 21/28 | €219,270 | €175,021 | -€44,250 | -20.2% |
| Tangible fixed assets | 22/27 | €219,270 | €175,021 | -€44,250 | -20.2% |
| Plant, machinery and equipment | 23 | €22,336 | €17,187 | -€5,149 | -23.1% |
| Furniture and vehicles | 24 | €7,879 | €5,413 | -€2,466 | -31.3% |
| Other tangible fixed assets | 26 | €189,056 | €152,421 | -€36,635 | -19.4% |
| Current assets | 29/58 | €98,283 | €63,003 | -€35,280 | -35.9% |
| Stocks and contracts in progress | 3 | €11,654 | €11,930 | +€276 | +2.4% |
| Stocks | 30/36 | €11,654 | €11,930 | +€276 | +2.4% |
| Amounts receivable within one year | 40/41 | €9,428 | €23,931 | +€14,503 | +154% |
| Trade receivables | 40 | €1,072 | €14,954 | +€13,882 | +1,295% |
| Other amounts receivable | 41 | €8,356 | €8,977 | +€622 | +7.4% |
| Cash at bank and in hand | 54/58 | €76,641 | €26,888 | -€49,753 | -64.9% |
| Deferred charges and accrued income | 490/1 | €560 | €254 | -€307 | -54.7% |
| Total equity and liabilities | 10/49 | €317,554 | €238,024 | -€79,530 | -25.0% |
| Equity | 10/15 | -€7,743 | -€6,380 | +€1,363 | +17.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,743 | -€56,380 | +€1,363 | +2.4% |
| Amounts payable | 17/49 | €325,297 | €244,403 | -€80,893 | -24.9% |
| Amounts payable after more than one year | 17 | €222,275 | €177,575 | -€44,700 | -20.1% |
| Financial debts | 170/4 | €222,275 | €177,575 | -€44,700 | -20.1% |
| Amounts payable within one year | 42/48 | €73,027 | €51,675 | -€21,352 | -29.2% |
| Current portion of amounts payable after more than one year | 42 | €29,700 | €29,700 | = | 0.0% |
| Trade debts | 44 | €31,580 | €20,205 | -€11,375 | -36.0% |
| Suppliers | 440/4 | €31,580 | €20,205 | -€11,375 | -36.0% |
| Taxes, remuneration and social security | 45 | €11,748 | €1,770 | -€9,977 | -84.9% |
| Taxes | 450/3 | €3,015 | €55 | -€2,961 | -98.2% |
| Remuneration and social security | 454/9 | €8,732 | €1,716 | -€7,017 | -80.4% |
| Accrued charges and deferred income | 492/3 | €29,994 | €15,153 | -€14,841 | -49.5% |
| Remuneration, social security and pensions | 62 | €91,824 | €133,611 | +€41,786 | +45.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,980 | €44,250 | -€730 | -1.6% |
| Other operating charges | 640/8 | €477 | €906 | +€429 | +89.8% |
| Gross operating margin | 9900 | €116,896 | €168,607 | +€51,711 | +44.2% |
| Operating profit (loss) | 9901 | -€20,386 | -€10,160 | +€10,226 | +50.2% |
| Financial income | 75/76B | €15,150 | €15,319 | +€169 | +1.1% |
| Recurring financial income | 75 | €15,150 | €15,319 | +€169 | +1.1% |
| Financial charges | 65/66B | €4,064 | €3,796 | -€267 | -6.6% |
| Recurring financial charges | 65 | €4,064 | €3,796 | -€267 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,299 | €1,363 | +€10,662 | |
| Profit (loss) for the period | 9904 | -€9,299 | €1,363 | +€10,662 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,299 | €1,363 | +€10,662 |
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 28 October 2026 via checked.be.