BLEUS: 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.
BLEUS
Largest movements
- Tangible fixed assets -€27,419
down €27,419 (-5.5%), from €497,426 to €470,007
of which Land and buildings: -€28,305
- Cash +€16,103
up €16,103 (+117.3%), from €13,723 to €29,826
mainly Depreciation (+€53,384) and Net result for the year (+€25,114)
- Debts after one year -€28,932
down €28,932 (-8.3%), from €348,937 to €320,005
- Trade debts +€9,734
up €9,734 (+95.6%), from €10,181 to €19,915
- Profit (loss) carried forward +€6,914
up €6,914 (+5.8%), from €119,296 to €126,210
- Gross operating margin +€58,318
up €58,318 (+82.6%), from €70,628 to €128,946
- Staff costs +€25,678
new in 2025: €25,678
- Taxes +€7,400
up €7,400 (+371.9%), from €1,990 to €9,389
- Depreciation +€1,758
up €1,758 (+3.4%), from €51,626 to €53,384
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.
Cash bridge derived
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 | €600,939 | €589,165 | -€11,774 | -2.0% |
| Fixed assets | 21/28 | €498,626 | €471,207 | -€27,419 | -5.5% |
| Tangible fixed assets | 22/27 | €497,426 | €470,007 | -€27,419 | -5.5% |
| Land and buildings | 22 | €458,168 | €429,862 | -€28,305 | -6.2% |
| Plant, machinery and equipment | 23 | €34,254 | €24,485 | -€9,768 | -28.5% |
| Furniture and vehicles | 24 | €5,005 | €15,659 | +€10,655 | +212.9% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €102,313 | €117,958 | +€15,645 | +15.3% |
| Stocks and contracts in progress | 3 | €42,161 | €38,676 | -€3,485 | -8.3% |
| Stocks | 30/36 | €42,161 | €38,676 | -€3,485 | -8.3% |
| Amounts receivable within one year | 40/41 | €46,429 | €48,701 | +€2,271 | +4.9% |
| Trade receivables | 40 | €14,223 | €26,240 | +€12,017 | +84.5% |
| Other amounts receivable | 41 | €32,207 | €22,461 | -€9,746 | -30.3% |
| Cash at bank and in hand | 54/58 | €13,723 | €29,826 | +€16,103 | +117.3% |
| Deferred charges and accrued income | 490/1 | - | €756 | +€756 | |
| Total equity and liabilities | 10/49 | €600,939 | €589,165 | -€11,774 | -2.0% |
| Equity | 10/15 | €190,796 | €197,710 | +€6,914 | +3.6% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €6,500 | €6,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,296 | €126,210 | +€6,914 | +5.8% |
| Amounts payable | 17/49 | €410,143 | €391,455 | -€18,688 | -4.6% |
| Amounts payable after more than one year | 17 | €348,937 | €320,005 | -€28,932 | -8.3% |
| Financial debts | 170/4 | €348,937 | €320,005 | -€28,932 | -8.3% |
| Amounts payable within one year | 42/48 | €61,207 | €71,450 | +€10,243 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €41,040 | €43,067 | +€2,027 | +4.9% |
| Financial debts | 43 | €4,891 | €5,069 | +€178 | +3.6% |
| Credit institutions | 430/8 | €4,891 | €5,069 | +€178 | +3.6% |
| Trade debts | 44 | €10,181 | €19,915 | +€9,734 | +95.6% |
| Suppliers | 440/4 | €10,181 | €19,915 | +€9,734 | +95.6% |
| Taxes, remuneration and social security | 45 | €5,095 | €3,400 | -€1,695 | -33.3% |
| Taxes | 450/3 | €5,095 | €2,389 | -€2,705 | -53.1% |
| Remuneration and social security | 454/9 | - | €1,010 | +€1,010 | |
| Remuneration, social security and pensions | 62 | - | €25,678 | +€25,678 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,626 | €53,384 | +€1,758 | +3.4% |
| Other operating charges | 640/8 | €2,573 | €3,119 | +€546 | +21.2% |
| Non-recurring operating charges | 66A | - | €2,426 | +€2,426 | |
| Gross operating margin | 9900 | €70,628 | €128,946 | +€58,318 | +82.6% |
| Operating profit (loss) | 9901 | €16,429 | €44,339 | +€27,910 | +169.9% |
| Financial income | 75/76B | €225 | €156 | -€69 | -30.6% |
| Recurring financial income | 75 | €115 | €156 | +€41 | +35.6% |
| Non-recurring financial income | 76B | €110 | - | -€110 | |
| Financial charges | 65/66B | €8,901 | €9,992 | +€1,091 | +12.3% |
| Recurring financial charges | 65 | €8,901 | €9,992 | +€1,091 | +12.3% |
| Profit (loss) for the period before taxes | 9903 | €7,754 | €34,503 | +€26,750 | +345.0% |
| Income taxes | 67/77 | €1,990 | €9,389 | +€7,400 | +371.9% |
| Profit (loss) for the period | 9904 | €5,764 | €25,114 | +€19,350 | +335.7% |
| Profit (loss) for the period to be appropriated | 9905 | €5,764 | €25,114 | +€19,350 | +335.7% |
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 12 October 2026 via checked.be.