Blauwe Knoop: 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.
Blauwe Knoop
Largest movements
- Cash +€73,617
up €73,617 (+44.7%), from €164,793 to €238,410
mainly Net result for the year (+€58,741) and Depreciation (+€16,130)
- Intangible fixed assets -€15,000
down €15,000 (-30.9%), from €48,534 to €33,534
- Reserves +€57,075
up €57,075 (+28.5%), from €200,067 to €257,141
- Taxes +€6,402
up €6,402 (+39.5%), from €16,199 to €22,601
- Gross operating margin +€3,748
up €3,748 (+3.9%), from €95,353 to €99,101
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 | €231,500 | €292,875 | +€61,375 | +26.5% |
| Fixed assets | 21/28 | €50,555 | €35,825 | -€14,730 | -29.1% |
| Intangible fixed assets | 21 | €48,534 | €33,534 | -€15,000 | -30.9% |
| Tangible fixed assets | 22/27 | €2,021 | €2,291 | +€270 | +13.4% |
| Plant, machinery and equipment | 23 | €2,021 | €1,194 | -€827 | -40.9% |
| Furniture and vehicles | 24 | - | €1,097 | +€1,097 | |
| Current assets | 29/58 | €180,945 | €257,050 | +€76,105 | +42.1% |
| Amounts receivable within one year | 40/41 | €14,621 | €17,073 | +€2,452 | +16.8% |
| Trade receivables | 40 | €14,520 | €17,073 | +€2,553 | +17.6% |
| Other amounts receivable | 41 | €101 | €0 | -€101 | -100% |
| Cash at bank and in hand | 54/58 | €164,793 | €238,410 | +€73,617 | +44.7% |
| Deferred charges and accrued income | 490/1 | €1,530 | €1,567 | +€37 | +2.4% |
| Total equity and liabilities | 10/49 | €231,500 | €292,875 | +€61,375 | +26.5% |
| Equity | 10/15 | €218,667 | €275,741 | +€57,075 | +26.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €200,067 | €257,141 | +€57,075 | +28.5% |
| Distributable reserves | 133 | €200,067 | €257,141 | +€57,075 | +28.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €12,833 | €17,133 | +€4,301 | +33.5% |
| Amounts payable within one year | 42/48 | €12,833 | €17,133 | +€4,301 | +33.5% |
| Financial debts | 43 | €182 | €175 | -€7 | -4.0% |
| Credit institutions | 430/8 | €182 | €0 | -€182 | -100% |
| Other loans | 439 | - | €175 | +€175 | |
| Trade debts | 44 | €2,438 | €2,663 | +€225 | +9.2% |
| Suppliers | 440/4 | €2,438 | €2,663 | +€225 | +9.2% |
| Taxes, remuneration and social security | 45 | €6,066 | €8,338 | +€2,272 | +37.5% |
| Taxes | 450/3 | €4,366 | €6,638 | +€2,272 | +52.1% |
| Remuneration and social security | 454/9 | €1,700 | €1,700 | = | 0.0% |
| Other amounts payable | 47/48 | €4,147 | €5,957 | +€1,810 | +43.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,827 | €16,130 | +€303 | +1.9% |
| Other operating charges | 640/8 | €762 | €787 | +€25 | +3.3% |
| Gross operating margin | 9900 | €95,353 | €99,101 | +€3,748 | +3.9% |
| Operating profit (loss) | 9901 | €78,765 | €82,185 | +€3,420 | +4.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €830 | €843 | +€13 | +1.6% |
| Recurring financial charges | 65 | €830 | €843 | +€13 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €77,935 | €81,342 | +€3,407 | +4.4% |
| Income taxes | 67/77 | €16,199 | €22,601 | +€6,402 | +39.5% |
| Profit (loss) for the period | 9904 | €61,736 | €58,741 | -€2,996 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €61,736 | €58,741 | -€2,996 | -4.9% |
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 26 October 2026 via checked.be.