BleuBlue: 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.
BleuBlue
Largest movements
- Stocks and contracts -€140,123
down €140,123 (-93.5%), from €149,883 to €9,760
of which Stocks: -€75,923
- Receivables within one year +€127,869
up €127,869 (+106%), from €120,765 to €248,634
of which Trade receivables: +€92,100
- Cash -€43,869
down €43,869 (-92.4%), from €47,461 to €3,592
mainly Receivables within one year (-€127,869) and Trade debts (-€51,921)
- Tangible fixed assets +€16,196
up €16,196 (+5.8%), from €281,541 to €297,738
of which Land and buildings: +€23,821
- Trade debts -€51,921
down €51,921 (-33.8%), from €153,716 to €101,795
- Tax, wage and social debts -€12,065
down €12,065 (-46.1%), from €26,190 to €14,125
of which Remuneration and social security: -€12,201
- Debts after one year +€8,192
up €8,192 (+4.5%), from €180,636 to €188,827
- Reserves +€8,008
up €8,008 (+5.7%), from €141,095 to €149,103
- Current portion of long-term debt +€6,521
up €6,521 (+7.2%), from €90,618 to €97,139
- Staff costs -€74,230
down €74,230, from €68,112 to -€6,118
- Gross operating margin -€59,976
down €59,976 (-60.0%), from €99,884 to €39,908
- Financial charges +€4,640
up €4,640 (+37.8%), from €12,285 to €16,925
- Depreciation +€3,618
up €3,618 (+33.3%), from €10,857 to €14,475
- Taxes +€1,897
up €1,897 (+68.9%), from €2,753 to €4,650
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 | €604,754 | €563,489 | -€41,265 | -6.8% |
| Fixed assets | 21/28 | €284,541 | €300,738 | +€16,196 | +5.7% |
| Tangible fixed assets | 22/27 | €281,541 | €297,738 | +€16,196 | +5.8% |
| Land and buildings | 22 | €254,086 | €277,907 | +€23,821 | +9.4% |
| Plant, machinery and equipment | 23 | €22,741 | €16,438 | -€6,303 | -27.7% |
| Furniture and vehicles | 24 | €957 | €765 | -€192 | -20.0% |
| Other tangible fixed assets | 26 | €3,758 | €2,627 | -€1,130 | -30.1% |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €320,213 | €262,751 | -€57,461 | -17.9% |
| Stocks and contracts in progress | 3 | €149,883 | €9,760 | -€140,123 | -93.5% |
| Stocks | 30/36 | €75,923 | - | -€75,923 | |
| Contracts in progress | 37 | €73,960 | €9,760 | -€64,200 | -86.8% |
| Amounts receivable within one year | 40/41 | €120,765 | €248,634 | +€127,869 | +106% |
| Trade receivables | 40 | €69,870 | €161,970 | +€92,100 | +132% |
| Other amounts receivable | 41 | €50,895 | €86,664 | +€35,769 | +70.3% |
| Cash at bank and in hand | 54/58 | €47,461 | €3,592 | -€43,869 | -92.4% |
| Deferred charges and accrued income | 490/1 | €2,103 | €766 | -€1,338 | -63.6% |
| Total equity and liabilities | 10/49 | €604,754 | €563,489 | -€41,265 | -6.8% |
| Equity | 10/15 | €153,595 | €161,603 | +€8,008 | +5.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €141,095 | €149,103 | +€8,008 | +5.7% |
| Distributable reserves | 133 | €141,095 | €149,103 | +€8,008 | +5.7% |
| Amounts payable | 17/49 | €451,159 | €401,886 | -€49,273 | -10.9% |
| Amounts payable after more than one year | 17 | €180,636 | €188,827 | +€8,192 | +4.5% |
| Financial debts | 170/4 | €180,636 | €188,827 | +€8,192 | +4.5% |
| Amounts payable within one year | 42/48 | €270,523 | €213,059 | -€57,465 | -21.2% |
| Current portion of amounts payable after more than one year | 42 | €90,618 | €97,139 | +€6,521 | +7.2% |
| Trade debts | 44 | €153,716 | €101,795 | -€51,921 | -33.8% |
| Suppliers | 440/4 | €153,716 | €101,795 | -€51,921 | -33.8% |
| Taxes, remuneration and social security | 45 | €26,190 | €14,125 | -€12,065 | -46.1% |
| Taxes | 450/3 | €13,989 | €14,125 | +€136 | +1.0% |
| Remuneration and social security | 454/9 | €12,201 | - | -€12,201 | |
| Non-recurring operating income | 76A | - | €4,650 | +€4,650 | |
| Remuneration, social security and pensions | 62 | €68,112 | -€6,118 | -€74,230 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,857 | €14,475 | +€3,618 | +33.3% |
| Other operating charges | 640/8 | €3,359 | €1,971 | -€1,388 | -41.3% |
| Gross operating margin | 9900 | €99,884 | €39,908 | -€59,976 | -60.0% |
| Operating profit (loss) | 9901 | €17,556 | €29,580 | +€12,025 | +68.5% |
| Financial income | 75/76B | €1,385 | €3 | -€1,383 | -99.8% |
| Recurring financial income | 75 | €1,385 | €3 | -€1,383 | -99.8% |
| Financial charges | 65/66B | €12,285 | €16,925 | +€4,640 | +37.8% |
| Recurring financial charges | 65 | €12,285 | €16,925 | +€4,640 | +37.8% |
| Profit (loss) for the period before taxes | 9903 | €6,656 | €12,658 | +€6,002 | +90.2% |
| Income taxes | 67/77 | €2,753 | €4,650 | +€1,897 | +68.9% |
| Profit (loss) for the period | 9904 | €3,903 | €8,008 | +€4,105 | +105% |
| Profit (loss) for the period to be appropriated | 9905 | €3,903 | €8,008 | +€4,105 | +105% |
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 23 October 2026 via checked.be.