BLERIM: 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.
BLERIM
Largest movements
- Stocks and contracts -€446,228
down €446,228 (-41.1%), from €1.1m to €639,852
- Receivables after one year -€185,000
down €185,000 (-100%), from €185,000 to €0
- Cash +€163,754
up €163,754 (+176%), from €93,100 to €256,853
mainly Stocks and contracts (+€446,228) and Receivables after one year (+€185,000)
- Receivables within one year -€108,990
down €108,990 (-52.0%), from €209,572 to €100,582
of which Trade receivables: -€100,995
- Tangible fixed assets -€79,299
down €79,299 (-5.7%), from €1.4m to €1.3m
of which Land and buildings: -€71,888
- Debts after one year -€522,735
down €522,735 (-38.3%), from €1.4m to €843,464
- Trade debts -€99,773
down €99,773 (-46.2%), from €216,070 to €116,297
- Gross operating margin +€259,852
up €259,852 (+279%), from €93,209 to €353,061
- Taxes +€92,270
up €92,270 (+4,716%), from €1,956 to €94,226
- Depreciation -€20,165
down €20,165 (-15.2%), from €132,268 to €112,104
- Financial charges -€13,581
down €13,581 (-28.4%), from €47,867 to €34,286
- Financial income -€6,274
down €6,274 (-99.7%), from €6,292 to €17
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 | €2,970,610 | €2,314,892 | -€655,718 | -22.1% |
| Fixed assets | 21/28 | €1,395,891 | €1,316,592 | -€79,299 | -5.7% |
| Tangible fixed assets | 22/27 | €1,394,749 | €1,315,450 | -€79,299 | -5.7% |
| Land and buildings | 22 | €1,368,472 | €1,296,584 | -€71,888 | -5.3% |
| Plant, machinery and equipment | 23 | €2,131 | €1,032 | -€1,099 | -51.6% |
| Furniture and vehicles | 24 | €24,146 | €17,834 | -€6,313 | -26.1% |
| Financial fixed assets | 28 | €1,142 | €1,142 | = | 0.0% |
| Current assets | 29/58 | €1,574,719 | €998,300 | -€576,419 | -36.6% |
| Amounts receivable after more than one year | 29 | €185,000 | €0 | -€185,000 | -100% |
| Other amounts receivable | 291 | €185,000 | €0 | -€185,000 | -100% |
| Stocks and contracts in progress | 3 | €1,086,079 | €639,852 | -€446,228 | -41.1% |
| Stocks | 30/36 | €1,086,079 | €639,852 | -€446,228 | -41.1% |
| Amounts receivable within one year | 40/41 | €209,572 | €100,582 | -€108,990 | -52.0% |
| Trade receivables | 40 | €164,475 | €63,479 | -€100,995 | -61.4% |
| Other amounts receivable | 41 | €45,097 | €37,103 | -€7,994 | -17.7% |
| Cash at bank and in hand | 54/58 | €93,100 | €256,853 | +€163,754 | +176% |
| Deferred charges and accrued income | 490/1 | €968 | €1,013 | +€46 | +4.7% |
| Total equity and liabilities | 10/49 | €2,970,610 | €2,314,892 | -€655,718 | -22.1% |
| Equity | 10/15 | €1,144,013 | €1,141,117 | -€2,896 | -0.3% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €1,136,013 | €1,133,117 | -€2,896 | -0.3% |
| Tax-exempt reserves | 132 | €0 | - | = | |
| Distributable reserves | 133 | €1,136,013 | €1,133,117 | -€2,896 | -0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €1,826,597 | €1,173,775 | -€652,821 | -35.7% |
| Amounts payable after more than one year | 17 | €1,366,199 | €843,464 | -€522,735 | -38.3% |
| Financial debts | 170/4 | €1,366,199 | €843,464 | -€522,735 | -38.3% |
| Amounts payable within one year | 42/48 | €460,398 | €330,312 | -€130,086 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €96,612 | €97,411 | +€799 | +0.8% |
| Trade debts | 44 | €216,070 | €116,297 | -€99,773 | -46.2% |
| Suppliers | 440/4 | €216,070 | €116,297 | -€99,773 | -46.2% |
| Advances received on contracts in progress | 46 | €10,000 | €10,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €27,547 | €19,668 | -€7,879 | -28.6% |
| Taxes | 450/3 | €27,547 | €19,668 | -€7,879 | -28.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €110,170 | €86,936 | -€23,233 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,268 | €112,104 | -€20,165 | -15.2% |
| Other operating charges | 640/8 | €8,989 | €7,055 | -€1,935 | -21.5% |
| Gross operating margin | 9900 | €93,209 | €353,061 | +€259,852 | +279% |
| Operating profit (loss) | 9901 | -€48,049 | €233,903 | +€281,951 | |
| Financial income | 75/76B | €6,292 | €17 | -€6,274 | -99.7% |
| Recurring financial income | 75 | €6,292 | €17 | -€6,274 | -99.7% |
| Financial charges | 65/66B | €47,867 | €34,286 | -€13,581 | -28.4% |
| Recurring financial charges | 65 | €47,867 | €34,286 | -€13,581 | -28.4% |
| Profit (loss) for the period before taxes | 9903 | -€89,624 | €199,634 | +€289,258 | |
| Transfer from deferred taxes | 780 | €30,894 | €0 | -€30,894 | -100% |
| Income taxes | 67/77 | €1,956 | €94,226 | +€92,270 | +4,716% |
| Profit (loss) for the period | 9904 | -€60,686 | €105,408 | +€166,094 | |
| Transfer from tax-exempt reserves | 789 | €73,548 | €0 | -€73,548 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €12,862 | €105,408 | +€92,546 | +720% |
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 14 October 2026 via checked.be.