BLEU ROI: 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 ROI
Largest movements
- Tangible fixed assets -€22,120
down €22,120 (-32.3%), from €68,569 to €46,448
of which Furniture and vehicles: -€21,223
- Cash +€7,960
up €7,960 (+43.1%), from €18,488 to €26,448
mainly Depreciation (+€22,120) and Trade debts (+€1,233)
- Other debts -€10,631
down €10,631 (-54.4%), from €19,526 to €8,895
- Debts after one year -€3,798
down €3,798 (-45.0%), from €8,433 to €4,635
- Trade debts +€1,233
up €1,233 (+14.7%), from €8,402 to €9,635
- Gross operating margin -€49,128
down €49,128 (-20.6%), from €238,668 to €189,540
- Staff costs -€28,778
down €28,778 (-15.1%), from €191,028 to €162,250
- Depreciation +€9,764
up €9,764 (+79.0%), from €12,356 to €22,120
- Taxes -€2,706
down €2,706 (-40.4%), from €6,695 to €3,990
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 | €92,975 | €80,111 | -€12,864 | -13.8% |
| Fixed assets | 21/28 | €68,618 | €46,498 | -€22,120 | -32.2% |
| Tangible fixed assets | 22/27 | €68,569 | €46,448 | -€22,120 | -32.3% |
| Plant, machinery and equipment | 23 | €2,886 | €1,989 | -€897 | -31.1% |
| Furniture and vehicles | 24 | €65,682 | €44,460 | -€21,223 | -32.3% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €24,357 | €33,613 | +€9,256 | +38.0% |
| Amounts receivable within one year | 40/41 | €2,320 | €3,195 | +€875 | +37.7% |
| Trade receivables | 40 | €594 | €2,871 | +€2,278 | +384% |
| Other amounts receivable | 41 | €1,726 | €324 | -€1,402 | -81.2% |
| Cash at bank and in hand | 54/58 | €18,488 | €26,448 | +€7,960 | +43.1% |
| Deferred charges and accrued income | 490/1 | €3,549 | €3,970 | +€421 | +11.9% |
| Total equity and liabilities | 10/49 | €92,975 | €80,111 | -€12,864 | -13.8% |
| Equity | 10/15 | €49,263 | €48,581 | -€682 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,520 | €29,660 | -€860 | -2.8% |
| Tax-exempt reserves | 132 | €4,660 | €4,660 | = | 0.0% |
| Distributable reserves | 133 | €25,860 | €25,000 | -€860 | -3.3% |
| Profit (loss) carried forward | 14 | €143 | €321 | +€178 | +124% |
| Amounts payable | 17/49 | €43,712 | €31,530 | -€12,182 | -27.9% |
| Amounts payable after more than one year | 17 | €8,433 | €4,635 | -€3,798 | -45.0% |
| Financial debts | 170/4 | €8,433 | €4,635 | -€3,798 | -45.0% |
| Amounts payable within one year | 42/48 | €35,279 | €26,895 | -€8,384 | -23.8% |
| Current portion of amounts payable after more than one year | 42 | €3,644 | €3,789 | +€145 | +4.0% |
| Trade debts | 44 | €8,402 | €9,635 | +€1,233 | +14.7% |
| Suppliers | 440/4 | €8,402 | €9,635 | +€1,233 | +14.7% |
| Taxes, remuneration and social security | 45 | €3,708 | €4,576 | +€869 | +23.4% |
| Taxes | 450/3 | €60 | €2,894 | +€2,834 | +4,760% |
| Remuneration and social security | 454/9 | €3,648 | €1,683 | -€1,965 | -53.9% |
| Other amounts payable | 47/48 | €19,526 | €8,895 | -€10,631 | -54.4% |
| Remuneration, social security and pensions | 62 | €191,028 | €162,250 | -€28,778 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,356 | €22,120 | +€9,764 | +79.0% |
| Other operating charges | 640/8 | €1,840 | €1,198 | -€643 | -34.9% |
| Gross operating margin | 9900 | €238,668 | €189,540 | -€49,128 | -20.6% |
| Operating profit (loss) | 9901 | €33,444 | €3,973 | -€29,471 | -88.1% |
| Financial charges | 65/66B | €619 | €665 | +€47 | +7.6% |
| Recurring financial charges | 65 | €619 | €665 | +€47 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €32,826 | €3,308 | -€29,518 | -89.9% |
| Income taxes | 67/77 | €6,695 | €3,990 | -€2,706 | -40.4% |
| Profit (loss) for the period | 9904 | €26,131 | -€682 | -€26,812 | |
| Profit (loss) for the period to be appropriated | 9905 | €26,131 | -€682 | -€26,812 |
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 22 October 2026 via checked.be.