BLEU CITRON: what changed
Two fiscal 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.
BLEU CITRON
Largest movements
- Stocks and contracts -€388,407
no longer reported in 2025 (was €388,407)
- Cash -€29,700
down €29,700 (-73.1%), from €40,655 to €10,955
mainly Net result for the year (-€276,172) and Tax, wage and social debts (-€111,804)
- Tangible fixed assets -€23,738
down €23,738 (-95.9%), from €24,758 to €1,020
of which Other tangible fixed assets: -€22,324
- Receivables within one year -€9,584
down €9,584 (-57.3%), from €16,717 to €7,133
of which Other amounts receivable: -€4,933
- Profit (loss) carried forward -€276,172
down €276,172, from €1,356 to -€274,816
- Tax, wage and social debts -€111,804
down €111,804 (-95.2%), from €117,448 to €5,644
of which Taxes: -€87,192
- Trade debts -€50,031
down €50,031 (-19.1%), from €262,595 to €212,564
- Debts after one year -€18,930
no longer reported in 2025 (was €18,930)
- Current portion of long-term debt +€5,736
up €5,736 (+28.5%), from €20,108 to €25,844
- Gross operating margin -€517,404
down €517,404, from €404,140 to -€113,265
- Staff costs -€59,260
down €59,260 (-32.0%), from €185,406 to €126,145
- Depreciation -€21,182
down €21,182 (-99.1%), from €21,371 to €189
- Other operating charges +€16,948
up €16,948 (+89.9%), from €18,855 to €35,803
- Financial income +€14,089
up €14,089 (+1059354.9%), from €1 to €14,091
of which Non-recurring financial income: +€14,091
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 | €478,087 | €24,158 | -€453,929 | -94.9% |
| Fixed assets | 21/28 | €32,308 | €6,070 | -€26,238 | -81.2% |
| Tangible fixed assets | 22/27 | €24,758 | €1,020 | -€23,738 | -95.9% |
| Land and buildings | 22 | €1,209 | €1,020 | -€189 | -15.6% |
| Plant, machinery and equipment | 23 | €842 | - | -€842 | |
| Furniture and vehicles | 24 | €383 | - | -€383 | |
| Other tangible fixed assets | 26 | €22,324 | - | -€22,324 | |
| Financial fixed assets | 28 | €7,550 | €5,050 | -€2,500 | -33.1% |
| Current assets | 29/58 | €445,779 | €18,088 | -€427,691 | -95.9% |
| Stocks and contracts in progress | 3 | €388,407 | - | -€388,407 | |
| Stocks | 30/36 | €388,407 | - | -€388,407 | |
| Amounts receivable within one year | 40/41 | €16,717 | €7,133 | -€9,584 | -57.3% |
| Trade receivables | 40 | €11,784 | €7,133 | -€4,651 | -39.5% |
| Other amounts receivable | 41 | €4,933 | - | -€4,933 | |
| Cash at bank and in hand | 54/58 | €40,655 | €10,955 | -€29,700 | -73.1% |
| Total equity and liabilities | 10/49 | €478,087 | €24,158 | -€453,929 | -94.9% |
| Equity | 10/15 | €56,278 | -€219,894 | -€276,172 | |
| Contributions | 10/11 | €6,240 | €6,240 | = | 0.0% |
| Reserves | 13 | €48,682 | €48,682 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,872 | €1,872 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,872 | €1,872 | = | 0.0% |
| Tax-exempt reserves | 132 | €46,810 | €46,810 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,356 | -€274,816 | -€276,172 | |
| Amounts payable | 17/49 | €421,809 | €244,052 | -€177,757 | -42.1% |
| Amounts payable after more than one year | 17 | €18,930 | - | -€18,930 | |
| Financial debts | 170/4 | €18,930 | - | -€18,930 | |
| Amounts payable within one year | 42/48 | €402,879 | €244,052 | -€158,826 | -39.4% |
| Current portion of amounts payable after more than one year | 42 | €20,108 | €25,844 | +€5,736 | +28.5% |
| Trade debts | 44 | €262,595 | €212,564 | -€50,031 | -19.1% |
| Suppliers | 440/4 | €262,595 | €212,564 | -€50,031 | -19.1% |
| Taxes, remuneration and social security | 45 | €117,448 | €5,644 | -€111,804 | -95.2% |
| Taxes | 450/3 | €87,192 | - | -€87,192 | |
| Remuneration and social security | 454/9 | €30,256 | €5,644 | -€24,612 | -81.3% |
| Other amounts payable | 47/48 | €2,728 | - | -€2,728 | |
| Remuneration, social security and pensions | 62 | €185,406 | €126,145 | -€59,260 | -32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,371 | €189 | -€21,182 | -99.1% |
| Other operating charges | 640/8 | €18,855 | €35,803 | +€16,948 | +89.9% |
| Gross operating margin | 9900 | €404,140 | -€113,265 | -€517,404 | |
| Operating profit (loss) | 9901 | €178,508 | -€275,402 | -€453,910 | |
| Financial income | 75/76B | €1 | €14,091 | +€14,089 | +1059354.9% |
| Recurring financial income | 75 | €1 | €14,091 | +€14,089 | +1059354.9% |
| Non-recurring financial income | 76B | - | €14,091 | +€14,091 | |
| Financial charges | 65/66B | €14,819 | €14,861 | +€42 | +0.3% |
| Recurring financial charges | 65 | €11,183 | €10,183 | -€1,000 | -8.9% |
| Non-recurring financial charges | 66B | €3,636 | €4,678 | +€1,041 | +28.6% |
| Profit (loss) for the period before taxes | 9903 | €163,691 | -€276,172 | -€439,863 | |
| Income taxes | 67/77 | €67 | €0 | -€67 | -100.0% |
| Profit (loss) for the period | 9904 | €163,624 | -€276,172 | -€439,796 | |
| Profit (loss) for the period to be appropriated | 9905 | €163,624 | -€276,172 | -€439,796 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.