BLES Invest: 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.
BLES Invest
Largest movements
- Tangible fixed assets -€25,345
down €25,345 (-2.8%), from €895,916 to €870,571
of which Other tangible fixed assets: -€31,722
- Receivables within one year -€10,887
down €10,887 (-6.9%), from €156,987 to €146,100
of which Other amounts receivable: -€28,735
- Debts after one year -€47,408
down €47,408 (-7.3%), from €649,957 to €602,550
- Reserves +€15,289
up €15,289 (+5.5%), from €277,164 to €292,452
- Gross operating margin -€29,615
down €29,615 (-25.2%), from €117,723 to €88,109
- Taxes -€10,781
down €10,781 (-65.7%), from €16,401 to €5,620
- Financial charges +€6,188
up €6,188 (+48.6%), from €12,731 to €18,919
- Depreciation +€3,908
up €3,908 (+9.7%), from €40,491 to €44,399
- Other operating charges +€3,264
up €3,264 (+84.8%), from €3,850 to €7,114
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 | €1,061,861 | €1,030,745 | -€31,116 | -2.9% |
| Fixed assets | 21/28 | €895,916 | €870,571 | -€25,345 | -2.8% |
| Tangible fixed assets | 22/27 | €895,916 | €870,571 | -€25,345 | -2.8% |
| Plant, machinery and equipment | 23 | €8,677 | €8,631 | -€46 | -0.5% |
| Furniture and vehicles | 24 | €17,160 | €23,583 | +€6,423 | +37.4% |
| Other tangible fixed assets | 26 | €870,080 | €838,358 | -€31,722 | -3.6% |
| Current assets | 29/58 | €165,945 | €160,174 | -€5,771 | -3.5% |
| Amounts receivable within one year | 40/41 | €156,987 | €146,100 | -€10,887 | -6.9% |
| Trade receivables | 40 | €51,463 | €69,312 | +€17,849 | +34.7% |
| Other amounts receivable | 41 | €105,524 | €76,789 | -€28,735 | -27.2% |
| Cash at bank and in hand | 54/58 | €8,110 | €9,352 | +€1,242 | +15.3% |
| Deferred charges and accrued income | 490/1 | €848 | €4,722 | +€3,874 | +457% |
| Total equity and liabilities | 10/49 | €1,061,861 | €1,030,745 | -€31,116 | -2.9% |
| Equity | 10/15 | €287,164 | €311,052 | +€23,889 | +8.3% |
| Contributions | 10/11 | €10,000 | €18,600 | +€8,600 | +86.0% |
| Reserves | 13 | €277,164 | €292,452 | +€15,289 | +5.5% |
| Distributable reserves | 133 | €277,164 | €292,452 | +€15,289 | +5.5% |
| Amounts payable | 17/49 | €774,698 | €719,693 | -€55,005 | -7.1% |
| Amounts payable after more than one year | 17 | €649,957 | €602,550 | -€47,408 | -7.3% |
| Financial debts | 170/4 | €649,957 | €602,550 | -€47,408 | -7.3% |
| Amounts payable within one year | 42/48 | €119,449 | €103,569 | -€15,880 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €58,376 | €56,149 | -€2,228 | -3.8% |
| Trade debts | 44 | €4,062 | €2,279 | -€1,783 | -43.9% |
| Suppliers | 440/4 | €4,062 | €2,279 | -€1,783 | -43.9% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €5,557 | €2,329 | -€3,228 | -58.1% |
| Taxes | 450/3 | €5,557 | €2,329 | -€3,228 | -58.1% |
| Other amounts payable | 47/48 | €51,454 | €42,813 | -€8,641 | -16.8% |
| Accrued charges and deferred income | 492/3 | €5,291 | €13,574 | +€8,283 | +157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,491 | €44,399 | +€3,908 | +9.7% |
| Other operating charges | 640/8 | €3,850 | €7,114 | +€3,264 | +84.8% |
| Gross operating margin | 9900 | €117,723 | €88,109 | -€29,615 | -25.2% |
| Operating profit (loss) | 9901 | €73,382 | €36,595 | -€36,787 | -50.1% |
| Financial income | 75/76B | €3,322 | €3,233 | -€90 | -2.7% |
| Recurring financial income | 75 | €3,322 | €3,233 | -€90 | -2.7% |
| Financial charges | 65/66B | €12,731 | €18,919 | +€6,188 | +48.6% |
| Recurring financial charges | 65 | €12,731 | €18,919 | +€6,188 | +48.6% |
| Profit (loss) for the period before taxes | 9903 | €63,973 | €20,909 | -€43,065 | -67.3% |
| Income taxes | 67/77 | €16,401 | €5,620 | -€10,781 | -65.7% |
| Profit (loss) for the period | 9904 | €47,572 | €15,289 | -€32,283 | -67.9% |
| Profit (loss) for the period to be appropriated | 9905 | €47,572 | €15,289 | -€32,283 | -67.9% |
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 29 October 2026 via checked.be.