BLAUWPUT: 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.
BLAUWPUT
Largest movements
- Receivables within one year -€117,242
down €117,242 (-58.0%), from €202,025 to €84,783
of which Trade receivables: -€73,820
- Cash +€46,351
up €46,351 (+83.8%), from €55,332 to €101,683
mainly Receivables within one year (+€117,242) and Depreciation (+€33,496)
- Tangible fixed assets +€10,915
up €10,915 (+14.5%), from €75,191 to €86,106
of which Furniture and vehicles: +€10,984
- Trade debts -€29,267
down €29,267 (-57.5%), from €50,911 to €21,645
- Tax, wage and social debts -€17,634
down €17,634 (-58.9%), from €29,954 to €12,320
of which Taxes: -€17,284
- Reserves -€9,373
down €9,373 (-3.3%), from €286,021 to €276,648
of which Distributable reserves: -€9,373
- Gross operating margin +€25,412
up €25,412 (+10.6%), from €238,990 to €264,401
- Depreciation +€6,016
up €6,016 (+21.9%), from €27,481 to €33,496
- Staff costs +€4,855
up €4,855 (+2.7%), from €178,265 to €183,119
- Taxes +€3,581
up €3,581 (+34.9%), from €10,256 to €13,836
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 | €388,868 | €333,260 | -€55,608 | -14.3% |
| Fixed assets | 21/28 | €75,191 | €86,106 | +€10,915 | +14.5% |
| Tangible fixed assets | 22/27 | €75,191 | €86,106 | +€10,915 | +14.5% |
| Plant, machinery and equipment | 23 | €5,483 | €5,413 | -€69 | -1.3% |
| Furniture and vehicles | 24 | €69,709 | €80,693 | +€10,984 | +15.8% |
| Current assets | 29/58 | €313,677 | €247,154 | -€66,523 | -21.2% |
| Amounts receivable after more than one year | 29 | €51,000 | €51,000 | = | 0.0% |
| Trade receivables | 290 | €51,000 | €51,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €670 | €3,594 | +€2,924 | +436.3% |
| Stocks | 30/36 | €670 | €3,594 | +€2,924 | +436.3% |
| Amounts receivable within one year | 40/41 | €202,025 | €84,783 | -€117,242 | -58.0% |
| Trade receivables | 40 | €79,603 | €5,783 | -€73,820 | -92.7% |
| Other amounts receivable | 41 | €122,422 | €79,000 | -€43,422 | -35.5% |
| Current investments | 50/53 | €0 | - | -€0 | |
| Cash at bank and in hand | 54/58 | €55,332 | €101,683 | +€46,351 | +83.8% |
| Deferred charges and accrued income | 490/1 | €4,649 | €6,094 | +€1,444 | +31.1% |
| Total equity and liabilities | 10/49 | €388,868 | €333,260 | -€55,608 | -14.3% |
| Equity | 10/15 | €304,621 | €295,248 | -€9,373 | -3.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €286,021 | €276,648 | -€9,373 | -3.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €284,161 | €274,788 | -€9,373 | -3.3% |
| Amounts payable | 17/49 | €84,247 | €38,012 | -€46,235 | -54.9% |
| Amounts payable within one year | 42/48 | €84,247 | €38,012 | -€46,235 | -54.9% |
| Current portion of amounts payable after more than one year | 42 | €3,382 | €4,047 | +€665 | +19.7% |
| Trade debts | 44 | €50,911 | €21,645 | -€29,267 | -57.5% |
| Suppliers | 440/4 | €50,911 | €21,645 | -€29,267 | -57.5% |
| Taxes, remuneration and social security | 45 | €29,954 | €12,320 | -€17,634 | -58.9% |
| Taxes | 450/3 | €19,371 | €2,087 | -€17,284 | -89.2% |
| Remuneration and social security | 454/9 | €10,583 | €10,234 | -€349 | -3.3% |
| Remuneration, social security and pensions | 62 | €178,265 | €183,119 | +€4,855 | +2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,481 | €33,496 | +€6,016 | +21.9% |
| Other operating charges | 640/8 | €3,137 | €5,023 | +€1,886 | +60.1% |
| Gross operating margin | 9900 | €238,990 | €264,401 | +€25,412 | +10.6% |
| Operating profit (loss) | 9901 | €30,107 | €42,763 | +€12,656 | +42.0% |
| Financial income | 75/76B | €3,799 | €4,105 | +€306 | +8.0% |
| Recurring financial income | 75 | €3,799 | €4,105 | +€306 | +8.0% |
| Financial charges | 65/66B | €401 | €2,877 | +€2,476 | +616.9% |
| Recurring financial charges | 65 | €401 | €2,877 | +€2,476 | +616.9% |
| Profit (loss) for the period before taxes | 9903 | €33,505 | €43,991 | +€10,485 | +31.3% |
| Income taxes | 67/77 | €10,256 | €13,836 | +€3,581 | +34.9% |
| Profit (loss) for the period | 9904 | €23,250 | €30,154 | +€6,905 | +29.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,250 | €30,154 | +€6,905 | +29.7% |
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 11 October 2026 via checked.be.