BLEUMERROUGE: 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.
BLEUMERROUGE
Largest movements
- Receivables within one year +€75,054
up €75,054 (+81.5%), from €92,057 to €167,111
of which Trade receivables: +€46,724
- Cash -€49,360
down €49,360 (-71.0%), from €69,547 to €20,187
mainly Receivables within one year (-€75,054) and Debts after one year (-€33,594)
- Tangible fixed assets -€24,077
down €24,077 (-21.6%), from €111,544 to €87,467
of which Leasing and similar rights: -€24,461
- Debts after one year -€33,594
down €33,594 (-27.6%), from €121,532 to €87,938
- Reserves +€32,755
up €32,755 (+102%), from €32,185 to €64,940
of which Distributable reserves: +€32,755
- Trade debts +€14,877
up €14,877 (+544%), from €2,737 to €17,614
- Current portion of long-term debt -€5,251
down €5,251 (-6.9%), from €76,032 to €70,781
- Other debts -€3,476
down €3,476 (-39.2%), from €8,875 to €5,399
- Depreciation -€12,736
down €12,736 (-40.2%), from €31,659 to €18,923
- Write-downs -€5,400
no longer reported in 2025 (was €5,400)
- Financial charges +€4,289
up €4,289 (+56.4%), from €7,607 to €11,896
- Gross operating margin -€1,968
down €1,968 (-2.1%), from €94,173 to €92,205
- Taxes +€1,502
up €1,502 (+9.1%), from €16,427 to €17,929
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 | €273,318 | €275,722 | +€2,404 | +0.9% |
| Fixed assets | 21/28 | €111,714 | €87,637 | -€24,077 | -21.6% |
| Tangible fixed assets | 22/27 | €111,544 | €87,467 | -€24,077 | -21.6% |
| Plant, machinery and equipment | 23 | €6,692 | €5,730 | -€962 | -14.4% |
| Furniture and vehicles | 24 | €30,452 | €31,798 | +€1,346 | +4.4% |
| Leasing and similar rights | 25 | €74,400 | €49,939 | -€24,461 | -32.9% |
| Financial fixed assets | 28 | €170 | €170 | = | 0.0% |
| Current assets | 29/58 | €161,604 | €188,085 | +€26,481 | +16.4% |
| Amounts receivable within one year | 40/41 | €92,057 | €167,111 | +€75,054 | +81.5% |
| Trade receivables | 40 | €29,405 | €76,129 | +€46,724 | +159% |
| Other amounts receivable | 41 | €62,652 | €90,982 | +€28,330 | +45.2% |
| Cash at bank and in hand | 54/58 | €69,547 | €20,187 | -€49,360 | -71.0% |
| Deferred charges and accrued income | 490/1 | - | €787 | +€787 | |
| Total equity and liabilities | 10/49 | €273,318 | €275,722 | +€2,404 | +0.9% |
| Equity | 10/15 | €51,542 | €84,297 | +€32,755 | +63.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €32,185 | €64,940 | +€32,755 | +102% |
| Tax-exempt reserves | 132 | €10,325 | €10,325 | = | 0.0% |
| Distributable reserves | 133 | €21,860 | €54,615 | +€32,755 | +150% |
| Profit (loss) carried forward | 14 | €757 | €757 | = | 0.0% |
| Amounts payable | 17/49 | €221,776 | €191,425 | -€30,351 | -13.7% |
| Amounts payable after more than one year | 17 | €121,532 | €87,938 | -€33,594 | -27.6% |
| Financial debts | 170/4 | €121,532 | €87,938 | -€33,594 | -27.6% |
| Amounts payable within one year | 42/48 | €100,244 | €103,487 | +€3,243 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €76,032 | €70,781 | -€5,251 | -6.9% |
| Trade debts | 44 | €2,737 | €17,614 | +€14,877 | +544% |
| Suppliers | 440/4 | €2,737 | €17,614 | +€14,877 | +544% |
| Taxes, remuneration and social security | 45 | €12,600 | €9,693 | -€2,907 | -23.1% |
| Taxes | 450/3 | €8 | €8 | = | 0.0% |
| Remuneration and social security | 454/9 | €12,592 | €9,685 | -€2,907 | -23.1% |
| Other amounts payable | 47/48 | €8,875 | €5,399 | -€3,476 | -39.2% |
| Non-recurring operating income | 76A | €9,504 | €4,513 | -€4,991 | -52.5% |
| Remuneration, social security and pensions | 62 | €213 | - | -€213 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,659 | €18,923 | -€12,736 | -40.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,400 | - | -€5,400 | |
| Other operating charges | 640/8 | €4,567 | €4,818 | +€251 | +5.5% |
| Non-recurring operating charges | 66A | €6,017 | €6,116 | +€99 | +1.6% |
| Gross operating margin | 9900 | €94,173 | €92,205 | -€1,968 | -2.1% |
| Operating profit (loss) | 9901 | €46,317 | €62,348 | +€16,031 | +34.6% |
| Financial income | 75/76B | €361 | €232 | -€129 | -35.7% |
| Recurring financial income | 75 | €361 | €232 | -€129 | -35.7% |
| Financial charges | 65/66B | €7,607 | €11,896 | +€4,289 | +56.4% |
| Recurring financial charges | 65 | €7,607 | €11,896 | +€4,289 | +56.4% |
| Profit (loss) for the period before taxes | 9903 | €39,071 | €50,684 | +€11,613 | +29.7% |
| Income taxes | 67/77 | €16,427 | €17,929 | +€1,502 | +9.1% |
| Profit (loss) for the period | 9904 | €22,644 | €32,755 | +€10,111 | +44.7% |
| Profit (loss) for the period to be appropriated | 9905 | €22,644 | €32,755 | +€10,111 | +44.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.