BLEU MARINE: 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.
BLEU MARINE
Largest movements
- Cash -€51,649
down €51,649 (-43.1%), from €119,810 to €68,161
mainly Other debts (-€37,115) and Receivables within one year (-€30,814)
- Tangible fixed assets -€33,484
down €33,484 (-19.1%), from €175,580 to €142,096
of which Land and buildings: -€31,500
- Receivables within one year +€30,814
up €30,814 (+570%), from €5,402 to €36,216
of which Other amounts receivable: +€15,653
- Other debts -€37,115
down €37,115 (-52.6%), from €70,523 to €33,408
- Debts after one year -€21,416
down €21,416 (-9.3%), from €229,217 to €207,801
of which Financial debts: -€21,416
- Profit (loss) carried forward +€4,481
up €4,481 (+4.1%), from -€110,047 to -€105,566
- Gross operating margin +€19,120
up €19,120 (+57.9%), from €33,022 to €52,142
- Depreciation -€4,093
down €4,093 (-10.9%), from €37,577 to €33,484
- Other operating charges +€900
up €900 (+16.4%), from €5,484 to €6,384
- Financial charges +€870
up €870 (+12.5%), from €6,978 to €7,848
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 | €302,743 | €249,017 | -€53,726 | -17.7% |
| Fixed assets | 21/28 | €175,830 | €142,346 | -€33,484 | -19.0% |
| Tangible fixed assets | 22/27 | €175,580 | €142,096 | -€33,484 | -19.1% |
| Land and buildings | 22 | €173,596 | €142,096 | -€31,500 | -18.1% |
| Plant, machinery and equipment | 23 | €1,984 | - | -€1,984 | |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €126,913 | €106,671 | -€20,242 | -15.9% |
| Amounts receivable within one year | 40/41 | €5,402 | €36,216 | +€30,814 | +570% |
| Trade receivables | 40 | - | €15,161 | +€15,161 | |
| Other amounts receivable | 41 | €5,402 | €21,055 | +€15,653 | +290% |
| Cash at bank and in hand | 54/58 | €119,810 | €68,161 | -€51,649 | -43.1% |
| Deferred charges and accrued income | 490/1 | €1,701 | €2,294 | +€593 | +34.9% |
| Total equity and liabilities | 10/49 | €302,743 | €249,017 | -€53,726 | -17.7% |
| Equity | 10/15 | -€30,712 | -€26,231 | +€4,481 | +14.6% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €58,875 | €58,875 | = | 0.0% |
| Distributable reserves | 133 | €58,875 | €58,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€110,047 | -€105,566 | +€4,481 | +4.1% |
| Amounts payable | 17/49 | €333,455 | €275,248 | -€58,207 | -17.5% |
| Amounts payable after more than one year | 17 | €229,217 | €207,801 | -€21,416 | -9.3% |
| Financial debts | 170/4 | €82,105 | €60,689 | -€21,416 | -26.1% |
| Other amounts payable | 178/9 | €147,112 | €147,112 | = | 0.0% |
| Amounts payable within one year | 42/48 | €104,238 | €67,447 | -€36,791 | -35.3% |
| Current portion of amounts payable after more than one year | 42 | €20,358 | €21,415 | +€1,057 | +5.2% |
| Trade debts | 44 | €1,357 | €624 | -€733 | -54.0% |
| Suppliers | 440/4 | €1,357 | €624 | -€733 | -54.0% |
| Advances received on contracts in progress | 46 | €12,000 | €12,000 | = | 0.0% |
| Other amounts payable | 47/48 | €70,523 | €33,408 | -€37,115 | -52.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,577 | €33,484 | -€4,093 | -10.9% |
| Other operating charges | 640/8 | €5,484 | €6,384 | +€900 | +16.4% |
| Non-recurring operating charges | 66A | €248 | - | -€248 | |
| Gross operating margin | 9900 | €33,022 | €52,142 | +€19,120 | +57.9% |
| Operating profit (loss) | 9901 | -€10,287 | €12,274 | +€22,561 | |
| Financial income | 75/76B | - | €153 | +€153 | |
| Recurring financial income | 75 | - | €153 | +€153 | |
| Financial charges | 65/66B | €6,978 | €7,848 | +€870 | +12.5% |
| Recurring financial charges | 65 | €6,978 | €7,848 | +€870 | +12.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,265 | €4,579 | +€21,844 | |
| Income taxes | 67/77 | €99 | €98 | -€1 | -1.0% |
| Profit (loss) for the period | 9904 | -€17,364 | €4,481 | +€21,845 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,364 | €4,481 | +€21,845 |
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 27 October 2026 via checked.be.