BLEST: what changed
BLEST
Largest movements
- Tangible fixed assets -€64,509
down €64,509 (-45.3%), from €142,298 to €77,789
of which Furniture and vehicles: -€63,158
- Deferred charges and accrued income -€55,392
down €55,392 (-99.0%), from €55,976 to €584
- Cash +€34,120
up €34,120 (+178%), from €19,141 to €53,261
mainly Deferred charges and accrued income (+€55,392) and Depreciation (+€32,584)
- Receivables within one year -€16,441
down €16,441 (-68.3%), from €24,062 to €7,621
of which Trade receivables: -€14,083
- Receivables after one year -€2,640
no longer reported in 2025 (was €2,640)
- Debts after one year -€38,488
no longer reported in 2025 (was €38,488)
- Current portion of long-term debt -€29,149
down €29,149 (-84.8%), from €34,388 to €5,240
- Other debts -€15,386
down €15,386 (-13.1%), from €117,780 to €102,393
- Trade debts -€11,853
down €11,853 (-72.0%), from €16,466 to €4,613
- Profit (loss) carried forward -€11,828
down €11,828 (-181%), from -€6,519 to -€18,347
- Gross operating margin -€19,420
down €19,420 (-41.7%), from €46,600 to €27,180
- Depreciation -€15,335
down €15,335 (-32.0%), from €47,919 to €32,584
- Financial charges +€1,732
up €1,732 (+102%), from €1,699 to €3,431
of which Non-recurring financial charges: +€2,365
- Other operating charges +€536
up €536 (+23.3%), from €2,299 to €2,835
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €245,923 | €139,255 | -€106,668 | -43.4% |
| Fixed assets | 21/28 | €142,298 | €77,789 | -€64,509 | -45.3% |
| Tangible fixed assets | 22/27 | €142,298 | €77,789 | -€64,509 | -45.3% |
| Plant, machinery and equipment | 23 | €9,149 | €1,726 | -€7,423 | -81.1% |
| Furniture and vehicles | 24 | €70,049 | €6,891 | -€63,158 | -90.2% |
| Other tangible fixed assets | 26 | €63,100 | €69,172 | +€6,072 | +9.6% |
| Current assets | 29/58 | €103,625 | €61,466 | -€42,159 | -40.7% |
| Amounts receivable after more than one year | 29 | €2,640 | - | -€2,640 | |
| Trade receivables | 290 | €2,640 | - | -€2,640 | |
| Stocks and contracts in progress | 3 | €1,806 | - | -€1,806 | |
| Stocks | 30/36 | €1,806 | - | -€1,806 | |
| Amounts receivable within one year | 40/41 | €24,062 | €7,621 | -€16,441 | -68.3% |
| Trade receivables | 40 | €15,439 | €1,356 | -€14,083 | -91.2% |
| Other amounts receivable | 41 | €8,623 | €6,265 | -€2,357 | -27.3% |
| Cash at bank and in hand | 54/58 | €19,141 | €53,261 | +€34,120 | +178% |
| Deferred charges and accrued income | 490/1 | €55,976 | €584 | -€55,392 | -99.0% |
| Total equity and liabilities | 10/49 | €245,923 | €139,255 | -€106,668 | -43.4% |
| Equity | 10/15 | €29,625 | €17,798 | -€11,828 | -39.9% |
| Contributions | 10/11 | €10,200 | €10,200 | = | 0.0% |
| Reserves | 13 | €25,945 | €25,945 | = | 0.0% |
| Distributable reserves | 133 | €25,945 | €25,945 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,519 | -€18,347 | -€11,828 | -181% |
| Amounts payable | 17/49 | €216,297 | €121,457 | -€94,840 | -43.8% |
| Amounts payable after more than one year | 17 | €38,488 | - | -€38,488 | |
| Financial debts | 170/4 | €38,488 | - | -€38,488 | |
| Amounts payable within one year | 42/48 | €177,611 | €121,457 | -€56,154 | -31.6% |
| Current portion of amounts payable after more than one year | 42 | €34,388 | €5,240 | -€29,149 | -84.8% |
| Trade debts | 44 | €16,466 | €4,613 | -€11,853 | -72.0% |
| Suppliers | 440/4 | €16,466 | €4,613 | -€11,853 | -72.0% |
| Taxes, remuneration and social security | 45 | €8,977 | €9,211 | +€235 | +2.6% |
| Taxes | 450/3 | €8,977 | €9,211 | +€235 | +2.6% |
| Other amounts payable | 47/48 | €117,780 | €102,393 | -€15,386 | -13.1% |
| Accrued charges and deferred income | 492/3 | €198 | - | -€198 | |
| Non-recurring operating income | 76A | - | €15,143 | +€15,143 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,919 | €32,584 | -€15,335 | -32.0% |
| Other operating charges | 640/8 | €2,299 | €2,835 | +€536 | +23.3% |
| Gross operating margin | 9900 | €46,600 | €27,180 | -€19,420 | -41.7% |
| Operating profit (loss) | 9901 | -€3,619 | -€8,239 | -€4,620 | -128% |
| Financial income | 75/76B | €156 | €30 | -€126 | -80.6% |
| Recurring financial income | 75 | €156 | €30 | -€126 | -80.6% |
| Financial charges | 65/66B | €1,699 | €3,431 | +€1,732 | +102% |
| Recurring financial charges | 65 | €1,699 | €1,066 | -€633 | -37.3% |
| Non-recurring financial charges | 66B | - | €2,365 | +€2,365 | |
| Profit (loss) for the period before taxes | 9903 | -€5,162 | -€11,639 | -€6,477 | -125% |
| Income taxes | 67/77 | -€27 | €188 | +€216 | |
| Profit (loss) for the period | 9904 | -€5,135 | -€11,828 | -€6,693 | -130% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,135 | -€11,828 | -€6,693 | -130% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.