BLE Associates: 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.
BLE Associates
Largest movements
- Current investments +€25,000
up €25,000 (+16.7%), from €150,000 to €175,000
- Receivables within one year -€14,002
down €14,002 (-53.1%), from €26,347 to €12,345
of which Trade receivables: -€19,565
- Cash -€12,033
down €12,033 (-11.0%), from €109,827 to €97,794
mainly Current investments (-€25,000) and Other debts (-€15,156)
- Tangible fixed assets -€7,369
down €7,369 (-31.2%), from €23,633 to €16,264
of which Furniture and vehicles: -€6,646
- Reserves +€27,800
up €27,800 (+13.3%), from €209,230 to €237,030
of which Distributable reserves: +€27,800
- Other debts -€15,156
down €15,156 (-52.7%), from €28,750 to €13,595
- Profit (loss) carried forward -€13,486
down €13,486 (-30.7%), from €43,909 to €30,423
- Tax, wage and social debts -€9,097
down €9,097 (-69.7%), from €13,050 to €3,954
- Gross operating margin -€75,874
down €75,874 (-60.5%), from €125,454 to €49,580
- Taxes -€15,505
down €15,505 (-50.3%), from €30,802 to €15,297
- Depreciation -€2,783
down €2,783 (-24.5%), from €11,351 to €8,569
- Financial income +€1,374
up €1,374 (+67.7%), from €2,030 to €3,404
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 | €313,686 | €303,695 | -€9,991 | -3.2% |
| Fixed assets | 21/28 | €26,833 | €18,264 | -€8,569 | -31.9% |
| Intangible fixed assets | 21 | €3,200 | €2,000 | -€1,200 | -37.5% |
| Tangible fixed assets | 22/27 | €23,633 | €16,264 | -€7,369 | -31.2% |
| Furniture and vehicles | 24 | €20,744 | €14,097 | -€6,646 | -32.0% |
| Other tangible fixed assets | 26 | €2,889 | €2,167 | -€722 | -25.0% |
| Current assets | 29/58 | €286,853 | €285,431 | -€1,422 | -0.5% |
| Amounts receivable within one year | 40/41 | €26,347 | €12,345 | -€14,002 | -53.1% |
| Trade receivables | 40 | €26,347 | €6,782 | -€19,565 | -74.3% |
| Other amounts receivable | 41 | €0 | €5,563 | +€5,563 | |
| Current investments | 50/53 | €150,000 | €175,000 | +€25,000 | +16.7% |
| Cash at bank and in hand | 54/58 | €109,827 | €97,794 | -€12,033 | -11.0% |
| Deferred charges and accrued income | 490/1 | €679 | €292 | -€387 | -57.0% |
| Total equity and liabilities | 10/49 | €313,686 | €303,695 | -€9,991 | -3.2% |
| Equity | 10/15 | €271,739 | €286,053 | +€14,314 | +5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €209,230 | €237,030 | +€27,800 | +13.3% |
| 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 | €207,370 | €235,170 | +€27,800 | +13.4% |
| Profit (loss) carried forward | 14 | €43,909 | €30,423 | -€13,486 | -30.7% |
| Amounts payable | 17/49 | €41,946 | €17,642 | -€24,304 | -57.9% |
| Amounts payable within one year | 42/48 | €41,946 | €17,642 | -€24,304 | -57.9% |
| Trade debts | 44 | €146 | €93 | -€52 | -35.9% |
| Suppliers | 440/4 | €146 | €93 | -€52 | -35.9% |
| Taxes, remuneration and social security | 45 | €13,050 | €3,954 | -€9,097 | -69.7% |
| Taxes | 450/3 | €13,050 | €3,954 | -€9,097 | -69.7% |
| Other amounts payable | 47/48 | €28,750 | €13,595 | -€15,156 | -52.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,351 | €8,569 | -€2,783 | -24.5% |
| Other operating charges | 640/8 | €912 | €1,079 | +€167 | +18.3% |
| Gross operating margin | 9900 | €125,454 | €49,580 | -€75,874 | -60.5% |
| Operating profit (loss) | 9901 | €113,191 | €39,932 | -€73,258 | -64.7% |
| Financial income | 75/76B | €2,030 | €3,404 | +€1,374 | +67.7% |
| Recurring financial income | 75 | €2,030 | €3,404 | +€1,374 | +67.7% |
| Financial charges | 65/66B | €123 | €132 | +€9 | +7.5% |
| Recurring financial charges | 65 | €123 | €132 | +€9 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €115,098 | €43,205 | -€71,893 | -62.5% |
| Income taxes | 67/77 | €30,802 | €15,297 | -€15,505 | -50.3% |
| Profit (loss) for the period | 9904 | €84,296 | €27,908 | -€56,388 | -66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €84,296 | €27,908 | -€56,388 | -66.9% |
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 20 October 2026 via checked.be.