BLEKO: 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.
BLEKO
Largest movements
- Receivables within one year -€1.9m
down €1.9m (-26.0%), from €7.5m to €5.5m
of which Other amounts receivable: -€1.9m
- Tangible fixed assets -€264,808
down €264,808 (-4.7%), from €5.7m to €5.4m
of which Land and buildings: -€187,109
- Cash -€245,674
down €245,674 (-53.3%), from €461,242 to €215,568
mainly Net result for the year (-€2.2m) and Tax, wage and social debts (-€458,234)
- Reserves -€2.2m
down €2.2m (-70.5%), from €3.1m to €905,969
of which Distributable reserves: -€2.2m
- Tax, wage and social debts -€458,234
down €458,234 (-58.0%), from €790,134 to €331,900
- Other debts +€281,651
up €281,651 (+54.7%), from €514,877 to €796,528
- Financial charges +€1.3m
up €1.3m (+84.9%), from €1.5m to €2.8m
of which Financial charges: +€1.3m
- Financial income -€407,948
down €407,948 (-47.6%), from €857,914 to €449,966
- Other operating charges -€162,284
down €162,284 (-44.2%), from €367,483 to €205,199
- Taxes -€89,582
down €89,582 (-43.8%), from €204,426 to €114,844
- Gross operating margin -€57,880
down €57,880 (-5.9%), from €987,273 to €929,393
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 | €22,372,566 | €19,891,251 | -€2.5m | -11.1% |
| Fixed assets | 21/28 | €14,388,847 | €14,122,331 | -€266,516 | -1.9% |
| Tangible fixed assets | 22/27 | €5,679,057 | €5,414,249 | -€264,808 | -4.7% |
| Land and buildings | 22 | €5,277,497 | €5,090,388 | -€187,109 | -3.5% |
| Plant, machinery and equipment | 23 | €401,561 | €323,862 | -€77,699 | -19.3% |
| Financial fixed assets | 28 | €8,709,790 | €8,708,082 | -€1,708 | 0.0% |
| Current assets | 29/58 | €7,983,719 | €5,768,920 | -€2.2m | -27.7% |
| Stocks and contracts in progress | 3 | €21,611 | €15,801 | -€5,810 | -26.9% |
| Stocks | 30/36 | €21,611 | €15,801 | -€5,810 | -26.9% |
| Amounts receivable within one year | 40/41 | €7,467,585 | €5,528,436 | -€1.9m | -26.0% |
| Trade receivables | 40 | €150,148 | €71,860 | -€78,288 | -52.1% |
| Other amounts receivable | 41 | €7,317,437 | €5,456,576 | -€1.9m | -25.4% |
| Cash at bank and in hand | 54/58 | €461,242 | €215,568 | -€245,674 | -53.3% |
| Deferred charges and accrued income | 490/1 | €33,281 | €9,115 | -€24,166 | -72.6% |
| Total equity and liabilities | 10/49 | €22,372,566 | €19,891,251 | -€2.5m | -11.1% |
| Equity | 10/15 | €12,547,198 | €10,369,379 | -€2.2m | -17.4% |
| Contributions | 10/11 | €7,014,758 | €7,014,758 | = | 0.0% |
| Capital | 10 | €7,014,758 | €7,014,758 | = | 0.0% |
| Issued capital | 100 | €7,014,758 | €7,014,758 | = | 0.0% |
| Revaluation surpluses | 12 | €2,443,628 | €2,443,628 | = | 0.0% |
| Reserves | 13 | €3,068,838 | €905,969 | -€2.2m | -70.5% |
| Non-distributable reserves | 130/1 | €320,942 | €320,942 | = | 0.0% |
| Legal reserve | 130 | €320,942 | €320,942 | = | 0.0% |
| Distributable reserves | 133 | €2,747,896 | €585,026 | -€2.2m | -78.7% |
| Investment grants | 15 | €19,974 | €5,024 | -€14,950 | -74.8% |
| Provisions and deferred taxes | 16 | €328,737 | €312,286 | -€16,450 | -5.0% |
| Provisions for liabilities and charges | 160/5 | €250,000 | €250,000 | = | 0.0% |
| Environmental obligations | 163 | €250,000 | €250,000 | = | 0.0% |
| Deferred taxes | 168 | €78,737 | €62,286 | -€16,450 | -20.9% |
| Amounts payable | 17/49 | €9,496,631 | €9,209,586 | -€287,045 | -3.0% |
| Amounts payable after more than one year | 17 | €1,018,400 | €900,000 | -€118,400 | -11.6% |
| Financial debts | 170/4 | €118,400 | - | -€118,400 | |
| Other amounts payable | 178/9 | €900,000 | €900,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €8,385,477 | €8,269,555 | -€115,921 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €118,400 | €118,400 | = | 0.0% |
| Financial debts | 43 | €6,569,000 | €6,569,000 | = | 0.0% |
| Credit institutions | 430/8 | €6,569,000 | €6,569,000 | = | 0.0% |
| Trade debts | 44 | €393,066 | €453,728 | +€60,662 | +15.4% |
| Suppliers | 440/4 | €393,066 | €453,728 | +€60,662 | +15.4% |
| Taxes, remuneration and social security | 45 | €790,134 | €331,900 | -€458,234 | -58.0% |
| Taxes | 450/3 | €790,134 | €331,900 | -€458,234 | -58.0% |
| Other amounts payable | 47/48 | €514,877 | €796,528 | +€281,651 | +54.7% |
| Accrued charges and deferred income | 492/3 | €92,754 | €40,030 | -€52,724 | -56.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €433,187 | €428,117 | -€5,070 | -1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€498 | - | +€498 | |
| Other operating charges | 640/8 | €367,483 | €205,199 | -€162,284 | -44.2% |
| Non-recurring operating charges | 66A | - | €2,002 | +€2,002 | |
| Gross operating margin | 9900 | €987,273 | €929,393 | -€57,880 | -5.9% |
| Operating profit (loss) | 9901 | €187,101 | €294,075 | +€106,974 | +57.2% |
| Financial income | 75/76B | €857,914 | €449,966 | -€407,948 | -47.6% |
| Recurring financial income | 75 | €857,914 | €449,966 | -€407,948 | -47.6% |
| Financial charges | 65/66B | €1,519,068 | €2,808,517 | +€1.3m | +84.9% |
| Recurring financial charges | 65 | €1,519,068 | €2,808,368 | +€1.3m | +84.9% |
| Non-recurring financial charges | 66B | - | €149 | +€149 | |
| Profit (loss) for the period before taxes | 9903 | -€474,053 | -€2,064,476 | -€1.6m | -335.5% |
| Transfer from deferred taxes | 780 | €16,450 | €16,450 | = | 0.0% |
| Income taxes | 67/77 | €204,426 | €114,844 | -€89,582 | -43.8% |
| Profit (loss) for the period | 9904 | -€662,028 | -€2,162,869 | -€1.5m | -226.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€662,028 | -€2,162,869 | -€1.5m | -226.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.