BLEU NORD: 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 NORD
Largest movements
- Tangible fixed assets +€45,789
up €45,789 (+444%), from €10,307 to €56,097
of which Furniture and vehicles: +€46,926
- Receivables within one year -€20,383
down €20,383 (-97.5%), from €20,912 to €529
of which Trade receivables: -€11,349
- Cash -€4,602
down €4,602 (-64.7%), from €7,117 to €2,515
mainly Investment in fixed assets (net) (-€56,900) and Net result for the year (-€13,366)
- Other debts +€47,812
new in 2025: €47,812
- Profit (loss) carried forward -€13,366
down €13,366 (-122%), from -€10,984 to -€24,349
- Trade debts -€5,831
down €5,831 (-74.5%), from €7,829 to €1,998
- Tax, wage and social debts -€4,768
no longer reported in 2025 (was €4,768)
of which Taxes: -€3,368
- Advances received -€3,000
no longer reported in 2025 (was €3,000)
- Gross operating margin -€9,216
down €9,216, from €7,595 to -€1,621
- Depreciation +€9,111
up €9,111 (+456%), from €2,000 to €11,111
- Taxes -€502
no longer reported in 2025 (was €502)
- Financial charges -€110
down €110 (-56.6%), from €194 to €84
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 | €38,381 | €59,228 | +€20,847 | +54.3% |
| Fixed assets | 21/28 | €10,352 | €56,141 | +€45,789 | +442% |
| Tangible fixed assets | 22/27 | €10,307 | €56,097 | +€45,789 | +444% |
| Land and buildings | 22 | €3,139 | €2,629 | -€511 | -16.3% |
| Plant, machinery and equipment | 23 | €2,531 | €1,905 | -€626 | -24.7% |
| Furniture and vehicles | 24 | €4,637 | €51,563 | +€46,926 | +1,012% |
| Financial fixed assets | 28 | €44 | €44 | = | 0.0% |
| Current assets | 29/58 | €28,029 | €3,087 | -€24,943 | -89.0% |
| Amounts receivable within one year | 40/41 | €20,912 | €529 | -€20,383 | -97.5% |
| Trade receivables | 40 | €11,349 | - | -€11,349 | |
| Other amounts receivable | 41 | €9,563 | €529 | -€9,034 | -94.5% |
| Cash at bank and in hand | 54/58 | €7,117 | €2,515 | -€4,602 | -64.7% |
| Deferred charges and accrued income | 490/1 | - | €43 | +€43 | |
| Total equity and liabilities | 10/49 | €38,381 | €59,228 | +€20,847 | +54.3% |
| Equity | 10/15 | €22,776 | €9,411 | -€13,366 | -58.7% |
| Contributions | 10/11 | €18,400 | €18,400 | = | 0.0% |
| Capital | 10 | €18,400 | €18,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €15,360 | €15,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €13,500 | €13,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,984 | -€24,349 | -€13,366 | -122% |
| Amounts payable | 17/49 | €15,605 | €49,817 | +€34,212 | +219% |
| Amounts payable within one year | 42/48 | €15,605 | €49,817 | +€34,212 | +219% |
| Financial debts | 43 | €7 | €7 | = | 0.0% |
| Credit institutions | 430/8 | €7 | €7 | = | 0.0% |
| Trade debts | 44 | €7,829 | €1,998 | -€5,831 | -74.5% |
| Suppliers | 440/4 | €7,829 | €1,998 | -€5,831 | -74.5% |
| Advances received on contracts in progress | 46 | €3,000 | - | -€3,000 | |
| Taxes, remuneration and social security | 45 | €4,768 | - | -€4,768 | |
| Taxes | 450/3 | €3,368 | - | -€3,368 | |
| Remuneration and social security | 454/9 | €1,400 | - | -€1,400 | |
| Other amounts payable | 47/48 | - | €47,812 | +€47,812 | |
| Remuneration, social security and pensions | 62 | €68 | - | -€68 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,000 | €11,111 | +€9,111 | +456% |
| Other operating charges | 640/8 | €515 | €550 | +€35 | +6.9% |
| Gross operating margin | 9900 | €7,595 | -€1,621 | -€9,216 | |
| Operating profit (loss) | 9901 | €5,013 | -€13,282 | -€18,295 | |
| Financial charges | 65/66B | €194 | €84 | -€110 | -56.6% |
| Recurring financial charges | 65 | €194 | €84 | -€110 | -56.6% |
| Profit (loss) for the period before taxes | 9903 | €4,819 | -€13,366 | -€18,185 | |
| Income taxes | 67/77 | €502 | - | -€502 | |
| Profit (loss) for the period | 9904 | €4,317 | -€13,366 | -€17,683 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,317 | -€13,366 | -€17,683 |
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 28 October 2026 via checked.be.