BLAVATSKY: 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.
BLAVATSKY
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+155%), from €815,129 to €2.1m
of which Land and buildings: +€1.6m
- Cash -€348,702
down €348,702 (-72.7%), from €479,391 to €130,689
mainly Investment in fixed assets (net) (-€1.3m) and Other debts (-€500,348)
- Debts after one year +€1.3m
up €1.3m (+255%), from €497,430 to €1.8m
- Other debts -€500,348
down €500,348 (-99.0%), from €505,571 to €5,224
- Trade debts +€147,508
up €147,508 (+31,867%), from €463 to €147,970
- Current portion of long-term debt +€54,230
up €54,230 (+632%), from €8,576 to €62,806
- Profit (loss) carried forward -€45,181
down €45,181 (-40.2%), from -€112,460 to -€157,641
- Financial charges +€16,391
up €16,391 (+336%), from €4,883 to €21,274
- Gross operating margin +€10,384
up €10,384 (+30.8%), from -€33,732 to -€23,347
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 | €1,300,229 | €2,225,996 | +€925,767 | +71.2% |
| Fixed assets | 21/28 | €815,129 | €2,080,717 | +€1.3m | +155% |
| Tangible fixed assets | 22/27 | €815,129 | €2,080,717 | +€1.3m | +155% |
| Land and buildings | 22 | €513,588 | €2,080,717 | +€1.6m | +305% |
| Assets under construction and advance payments | 27 | €301,541 | - | -€301,541 | |
| Current assets | 29/58 | €485,100 | €145,279 | -€339,821 | -70.1% |
| Amounts receivable within one year | 40/41 | €5,709 | €14,590 | +€8,881 | +156% |
| Trade receivables | 40 | - | €7,146 | +€7,146 | |
| Other amounts receivable | 41 | €5,709 | €7,444 | +€1,735 | +30.4% |
| Cash at bank and in hand | 54/58 | €479,391 | €130,689 | -€348,702 | -72.7% |
| Total equity and liabilities | 10/49 | €1,300,229 | €2,225,996 | +€925,767 | +71.2% |
| Equity | 10/15 | €287,541 | €242,359 | -€45,181 | -15.7% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€112,460 | -€157,641 | -€45,181 | -40.2% |
| Amounts payable | 17/49 | €1,012,689 | €1,983,637 | +€970,948 | +95.9% |
| Amounts payable after more than one year | 17 | €497,430 | €1,767,637 | +€1.3m | +255% |
| Financial debts | 170/4 | €497,430 | €1,767,637 | +€1.3m | +255% |
| Amounts payable within one year | 42/48 | €514,610 | €216,000 | -€298,610 | -58.0% |
| Current portion of amounts payable after more than one year | 42 | €8,576 | €62,806 | +€54,230 | +632% |
| Trade debts | 44 | €463 | €147,970 | +€147,508 | +31,867% |
| Suppliers | 440/4 | €463 | €147,970 | +€147,508 | +31,867% |
| Other amounts payable | 47/48 | €505,571 | €5,224 | -€500,348 | -99.0% |
| Accrued charges and deferred income | 492/3 | €649 | - | -€649 | |
| Other operating charges | 640/8 | €544 | €559 | +€15 | +2.8% |
| Gross operating margin | 9900 | -€33,732 | -€23,347 | +€10,384 | +30.8% |
| Operating profit (loss) | 9901 | -€34,276 | -€23,907 | +€10,369 | +30.3% |
| Financial charges | 65/66B | €4,883 | €21,274 | +€16,391 | +336% |
| Recurring financial charges | 65 | €4,883 | €21,274 | +€16,391 | +336% |
| Profit (loss) for the period before taxes | 9903 | -€39,159 | -€45,181 | -€6,022 | -15.4% |
| Profit (loss) for the period | 9904 | -€39,159 | -€45,181 | -€6,022 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€39,159 | -€45,181 | -€6,022 | -15.4% |
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.