BLEU: what changed
What changed
BLEU
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€521,362
2024 · -€25,643+€547,005
Equity
€392,314
2024 · -€129,048+€521,362
Cash
€2,513
2024 · €5,077-€2,563
Balance sheet total
€399,164
2024 · €84,254+€314,910
Largest movements
Assets
- Receivables within one year +€364,796
up €364,796, from €0 to €364,796
- Tangible fixed assets -€43,278
down €43,278 (-59.8%), from €72,345 to €29,067
- Deferred charges and accrued income -€4,044
down €4,044 (-59.2%), from €6,832 to €2,788
Equity and liabilities
- Profit (loss) carried forward +€501,362
up €501,362, from -€329,048 to €172,314
- Debts after one year -€200,000
down €200,000 (-100%), from €200,000 to €0
- Reserves +€20,000
new in 2025: €20,000
- Other debts -€5,000
down €5,000 (-100%), from €5,000 to €0
Income statement
- Gross operating margin +€610,863
up €610,863, from -€17,152 to €593,711
- Taxes +€66,146
new in 2025: €66,146
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.
Result 2024
-€25,643
Gross operating margin
+€610,863
Other operating charges
-€53
Financial income
+€1,538
Financial charges
+€804
Taxes
-€66,146
Result 2025
€521,362
raises the resultlowers the result
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.
From operations
+€154,159
Investment
+€43,278
Financing
-€200,000
Cash 2024
€5,077
From operations (derived)
+€154,159
Net result for the year
+€521,362
Receivables within one year
-€364,796
Deferred charges and accrued income
+€4,044
Smaller working-capital items
-€1,452
Other debts
-€5,000
Investment (derived)
+€43,278
Investment in fixed assets (net)
+€43,278
Financing
-€200,000
Debts after one year
-€200,000
Cash 2025
€2,513
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,254 | €399,164 | +€314,910 | +374% |
| Fixed assets | 21/28 | €72,345 | €29,067 | -€43,278 | -59.8% |
| Tangible fixed assets | 22/27 | €72,345 | €29,067 | -€43,278 | -59.8% |
| Land and buildings | 22 | €72,345 | €29,067 | -€43,278 | -59.8% |
| Current assets | 29/58 | €11,909 | €370,096 | +€358,188 | +3,008% |
| Amounts receivable within one year | 40/41 | €0 | €364,796 | +€364,796 | |
| Other amounts receivable | 41 | €0 | €364,796 | +€364,796 | |
| Cash at bank and in hand | 54/58 | €5,077 | €2,513 | -€2,563 | -50.5% |
| Deferred charges and accrued income | 490/1 | €6,832 | €2,788 | -€4,044 | -59.2% |
| Total equity and liabilities | 10/49 | €84,254 | €399,164 | +€314,910 | +374% |
| Equity | 10/15 | -€129,048 | €392,314 | +€521,362 | |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | - | €20,000 | +€20,000 | |
| Non-distributable reserves | 130/1 | - | €20,000 | +€20,000 | |
| Legal reserve | 130 | - | €20,000 | +€20,000 | |
| Profit (loss) carried forward | 14 | -€329,048 | €172,314 | +€501,362 | |
| Amounts payable | 17/49 | €213,302 | €6,850 | -€206,452 | -96.8% |
| Amounts payable after more than one year | 17 | €200,000 | €0 | -€200,000 | -100% |
| Financial debts | 170/4 | €200,000 | €0 | -€200,000 | -100% |
| Amounts payable within one year | 42/48 | €7,243 | €1,594 | -€5,650 | -78.0% |
| Trade debts | 44 | €2,243 | €1,594 | -€650 | -29.0% |
| Suppliers | 440/4 | €2,243 | €1,594 | -€650 | -29.0% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,000 | €0 | -€5,000 | -100% |
| Accrued charges and deferred income | 492/3 | €6,059 | €5,256 | -€803 | -13.2% |
| Other operating charges | 640/8 | €2,246 | €2,299 | +€53 | +2.4% |
| Gross operating margin | 9900 | -€17,152 | €593,711 | +€610,863 | |
| Operating profit (loss) | 9901 | -€19,397 | €591,412 | +€610,809 | |
| Financial income | 75/76B | €0 | €1,538 | +€1,538 | |
| Recurring financial income | 75 | €0 | €1,538 | +€1,538 | |
| Financial charges | 65/66B | €6,246 | €5,442 | -€804 | -12.9% |
| Recurring financial charges | 65 | €6,246 | €5,442 | -€804 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€25,643 | €587,507 | +€613,151 | |
| Income taxes | 67/77 | - | €66,146 | +€66,146 | |
| Profit (loss) for the period | 9904 | -€25,643 | €521,362 | +€547,005 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,643 | €521,362 | +€547,005 |
Next steps
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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 4 November 2026 via checked.be.