BLAUWVOET: 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.
BLAUWVOET
Largest movements
- Cash +€25,607
up €25,607 (+65.3%), from €39,214 to €64,821
mainly Depreciation (+€22,643) and Other debts (+€4,934)
- Tangible fixed assets -€17,815
down €17,815 (-19.9%), from €89,609 to €71,794
of which Furniture and vehicles: -€15,818
- Receivables within one year -€2,260
down €2,260 (-15.5%), from €14,606 to €12,345
of which Trade receivables: -€8,541
- Other debts +€4,934
up €4,934 (+21.6%), from €22,819 to €27,753
- Gross operating margin -€29,579
down €29,579 (-51.3%), from €57,639 to €28,059
- Taxes -€7,563
down €7,563 (-92.4%), from €8,183 to €620
- Other operating charges +€1,244
up €1,244 (+59.8%), from €2,080 to €3,324
- Depreciation -€764
down €764 (-3.3%), from €23,407 to €22,643
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 | €152,293 | €159,065 | +€6,772 | +4.4% |
| Fixed assets | 21/28 | €89,609 | €71,794 | -€17,815 | -19.9% |
| Tangible fixed assets | 22/27 | €89,609 | €71,794 | -€17,815 | -19.9% |
| Land and buildings | 22 | €1,017 | €5,109 | +€4,091 | +402% |
| Plant, machinery and equipment | 23 | €26,343 | €20,255 | -€6,089 | -23.1% |
| Furniture and vehicles | 24 | €62,248 | €46,430 | -€15,818 | -25.4% |
| Current assets | 29/58 | €62,684 | €87,271 | +€24,587 | +39.2% |
| Stocks and contracts in progress | 3 | €3,536 | €4,521 | +€985 | +27.9% |
| Stocks | 30/36 | €3,536 | €4,521 | +€985 | +27.9% |
| Amounts receivable within one year | 40/41 | €14,606 | €12,345 | -€2,260 | -15.5% |
| Trade receivables | 40 | €11,452 | €2,910 | -€8,541 | -74.6% |
| Other amounts receivable | 41 | €3,154 | €9,435 | +€6,281 | +199% |
| Cash at bank and in hand | 54/58 | €39,214 | €64,821 | +€25,607 | +65.3% |
| Deferred charges and accrued income | 490/1 | €5,328 | €5,583 | +€256 | +4.8% |
| Total equity and liabilities | 10/49 | €152,293 | €159,065 | +€6,772 | +4.4% |
| Equity | 10/15 | €117,555 | €117,945 | +€390 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €98,955 | €99,345 | +€390 | +0.4% |
| Tax-exempt reserves | 132 | €15,677 | €15,677 | = | 0.0% |
| Distributable reserves | 133 | €83,278 | €83,668 | +€390 | +0.5% |
| Amounts payable | 17/49 | €34,738 | €41,120 | +€6,382 | +18.4% |
| Amounts payable within one year | 42/48 | €32,135 | €37,637 | +€5,502 | +17.1% |
| Trade debts | 44 | €7,652 | €7,906 | +€255 | +3.3% |
| Suppliers | 440/4 | €7,652 | €7,906 | +€255 | +3.3% |
| Taxes, remuneration and social security | 45 | €1,665 | €1,978 | +€313 | +18.8% |
| Taxes | 450/3 | €1,665 | €1,978 | +€313 | +18.8% |
| Other amounts payable | 47/48 | €22,819 | €27,753 | +€4,934 | +21.6% |
| Accrued charges and deferred income | 492/3 | €2,602 | €3,482 | +€880 | +33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,407 | €22,643 | -€764 | -3.3% |
| Other operating charges | 640/8 | €2,080 | €3,324 | +€1,244 | +59.8% |
| Gross operating margin | 9900 | €57,639 | €28,059 | -€29,579 | -51.3% |
| Operating profit (loss) | 9901 | €32,151 | €2,092 | -€30,059 | -93.5% |
| Financial income | 75/76B | €112 | €14 | -€98 | -87.2% |
| Recurring financial income | 75 | €112 | €14 | -€98 | -87.2% |
| Financial charges | 65/66B | €928 | €1,096 | +€168 | +18.1% |
| Recurring financial charges | 65 | €928 | €1,096 | +€168 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €31,335 | €1,010 | -€30,326 | -96.8% |
| Income taxes | 67/77 | €8,183 | €620 | -€7,563 | -92.4% |
| Profit (loss) for the period | 9904 | €23,153 | €390 | -€22,763 | -98.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,153 | €390 | -€22,763 | -98.3% |
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 25 October 2026 via checked.be.