BLEUX: what changed
BLEUX
Largest movements
- Receivables within one year -€198,578
down €198,578 (-42.6%), from €466,523 to €267,945
of which Trade receivables: -€200,066
- Cash +€85,322
up €85,322 (+389%), from €21,923 to €107,245
mainly Receivables within one year (+€198,578) and Depreciation (+€19,241)
- Tangible fixed assets -€19,241
down €19,241 (-50.0%), from €38,465 to €19,224
of which Furniture and vehicles: -€10,949
- Stocks and contracts +€17,233
up €17,233 (+180%), from €9,576 to €26,810
- Trade debts -€91,084
down €91,084 (-79.5%), from €114,516 to €23,432
- Reserves -€29,185
down €29,185 (-6.3%), from €459,951 to €430,766
- Tax, wage and social debts -€21,394
down €21,394 (-80.7%), from €26,514 to €5,120
of which Taxes: -€21,018
- Accrued charges and deferred income +€10,919
new in 2025: €10,919
- Gross operating margin -€180,574
down €180,574 (-73.3%), from €246,483 to €65,909
- Staff costs -€47,584
down €47,584 (-38.1%), from €124,956 to €77,372
- Taxes -€20,422
down €20,422, from €20,322 to -€100
- Depreciation -€8,085
down €8,085 (-29.6%), from €27,326 to €19,241
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €640,124 | €520,082 | -€120,042 | -18.8% |
| Fixed assets | 21/28 | €38,465 | €19,224 | -€19,241 | -50.0% |
| Tangible fixed assets | 22/27 | €38,465 | €19,224 | -€19,241 | -50.0% |
| Land and buildings | 22 | €2,764 | - | -€2,764 | |
| Plant, machinery and equipment | 23 | €15,776 | €10,248 | -€5,528 | -35.0% |
| Furniture and vehicles | 24 | €19,925 | €8,976 | -€10,949 | -55.0% |
| Current assets | 29/58 | €601,659 | €500,858 | -€100,801 | -16.8% |
| Amounts receivable after more than one year | 29 | €90,000 | €90,000 | = | 0.0% |
| Other amounts receivable | 291 | €90,000 | €90,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €9,576 | €26,810 | +€17,233 | +180% |
| Stocks | 30/36 | €9,576 | €26,810 | +€17,233 | +180% |
| Amounts receivable within one year | 40/41 | €466,523 | €267,945 | -€198,578 | -42.6% |
| Trade receivables | 40 | €409,353 | €209,287 | -€200,066 | -48.9% |
| Other amounts receivable | 41 | €57,170 | €58,658 | +€1,489 | +2.6% |
| Cash at bank and in hand | 54/58 | €21,923 | €107,245 | +€85,322 | +389% |
| Deferred charges and accrued income | 490/1 | €13,636 | €8,858 | -€4,778 | -35.0% |
| Total equity and liabilities | 10/49 | €640,124 | €520,082 | -€120,042 | -18.8% |
| Equity | 10/15 | €478,551 | €449,366 | -€29,185 | -6.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €459,951 | €430,766 | -€29,185 | -6.3% |
| Distributable reserves | 133 | €459,951 | €430,766 | -€29,185 | -6.3% |
| Amounts payable | 17/49 | €161,573 | €70,716 | -€90,857 | -56.2% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €141,573 | €39,798 | -€101,776 | -71.9% |
| Financial debts | 43 | - | €5,064 | +€5,064 | |
| Credit institutions | 430/8 | - | €5,064 | +€5,064 | |
| Trade debts | 44 | €114,516 | €23,432 | -€91,084 | -79.5% |
| Suppliers | 440/4 | €114,516 | €23,432 | -€91,084 | -79.5% |
| Taxes, remuneration and social security | 45 | €26,514 | €5,120 | -€21,394 | -80.7% |
| Taxes | 450/3 | €21,386 | €368 | -€21,018 | -98.3% |
| Remuneration and social security | 454/9 | €5,128 | €4,752 | -€376 | -7.3% |
| Other amounts payable | 47/48 | €544 | €6,182 | +€5,638 | +1,037% |
| Accrued charges and deferred income | 492/3 | - | €10,919 | +€10,919 | |
| Remuneration, social security and pensions | 62 | €124,956 | €77,372 | -€47,584 | -38.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,326 | €19,241 | -€8,085 | -29.6% |
| Other operating charges | 640/8 | €1,224 | €1,245 | +€21 | +1.7% |
| Gross operating margin | 9900 | €246,483 | €65,909 | -€180,574 | -73.3% |
| Operating profit (loss) | 9901 | €92,977 | -€31,949 | -€124,925 | |
| Financial income | 75/76B | €4,345 | €3,264 | -€1,081 | -24.9% |
| Recurring financial income | 75 | €4,345 | €3,264 | -€1,081 | -24.9% |
| Financial charges | 65/66B | €282 | €600 | +€318 | +113% |
| Recurring financial charges | 65 | €282 | €600 | +€318 | +113% |
| Profit (loss) for the period before taxes | 9903 | €97,039 | -€29,285 | -€126,324 | |
| Income taxes | 67/77 | €20,322 | -€100 | -€20,422 | |
| Profit (loss) for the period | 9904 | €76,717 | -€29,185 | -€105,902 | |
| Profit (loss) for the period to be appropriated | 9905 | €76,717 | -€29,185 | -€105,902 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.