BLFT: what changed
BLFT
Largest movements
- Tangible fixed assets +€230,218
up €230,218 (+349%), from €65,973 to €296,191
of which Other tangible fixed assets: +€202,804
- Receivables within one year +€30,293
up €30,293 (+124%), from €24,407 to €54,700
of which Trade receivables: +€32,290
- Cash +€16,871
up €16,871 (+471%), from €3,579 to €20,451
mainly Debts after one year (+€170,143) and Trade debts (+€52,012)
- Intangible fixed assets -€5,020
down €5,020 (-20.9%), from €24,019 to €18,999
- Debts after one year +€170,143
new in 2025: €170,143
- Trade debts +€52,012
up €52,012 (+114%), from €45,718 to €97,731
- Current portion of long-term debt +€28,358
new in 2025: €28,358
- Other debts +€19,326
up €19,326 (+125%), from €15,411 to €34,737
- Investment grants +€4,304
up €4,304 (+143%), from €3,000 to €7,304
- Depreciation +€12,699
up €12,699 (+138%), from €9,205 to €21,903
- Gross operating margin -€6,748
down €6,748 (-19.5%), from €34,539 to €27,791
- Staff costs +€4,355
new in 2025: €4,355
- Taxes -€4,124
down €4,124, from €3,959 to -€164
- Financial charges +€2,974
up €2,974 (+758%), from €392 to €3,367
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 | €117,978 | €391,926 | +€273,948 | +232% |
| Fixed assets | 21/28 | €89,992 | €315,380 | +€225,388 | +250% |
| Intangible fixed assets | 21 | €24,019 | €18,999 | -€5,020 | -20.9% |
| Tangible fixed assets | 22/27 | €65,973 | €296,191 | +€230,218 | +349% |
| Plant, machinery and equipment | 23 | €41,166 | €68,580 | +€27,414 | +66.6% |
| Other tangible fixed assets | 26 | €24,806 | €227,610 | +€202,804 | +818% |
| Financial fixed assets | 28 | - | €190 | +€190 | |
| Current assets | 29/58 | €27,986 | €76,546 | +€48,560 | +174% |
| Amounts receivable within one year | 40/41 | €24,407 | €54,700 | +€30,293 | +124% |
| Trade receivables | 40 | €19,621 | €51,911 | +€32,290 | +165% |
| Other amounts receivable | 41 | €4,786 | €2,789 | -€1,997 | -41.7% |
| Cash at bank and in hand | 54/58 | €3,579 | €20,451 | +€16,871 | +471% |
| Deferred charges and accrued income | 490/1 | - | €1,395 | +€1,395 | |
| Total equity and liabilities | 10/49 | €117,978 | €391,926 | +€273,948 | +232% |
| Equity | 10/15 | €51,408 | €55,358 | +€3,949 | +7.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,408 | €28,053 | -€355 | -1.2% |
| Investment grants | 15 | €3,000 | €7,304 | +€4,304 | +143% |
| Amounts payable | 17/49 | €66,569 | €336,568 | +€269,999 | +406% |
| Amounts payable after more than one year | 17 | - | €170,143 | +€170,143 | |
| Financial debts | 170/4 | - | €170,143 | +€170,143 | |
| Amounts payable within one year | 42/48 | €66,569 | €166,425 | +€99,855 | +150% |
| Current portion of amounts payable after more than one year | 42 | - | €28,358 | +€28,358 | |
| Trade debts | 44 | €45,718 | €97,731 | +€52,012 | +114% |
| Suppliers | 440/4 | €45,718 | €97,731 | +€52,012 | +114% |
| Taxes, remuneration and social security | 45 | €5,440 | €5,599 | +€159 | +2.9% |
| Taxes | 450/3 | €5,440 | €4,046 | -€1,394 | -25.6% |
| Remuneration and social security | 454/9 | - | €1,553 | +€1,553 | |
| Other amounts payable | 47/48 | €15,411 | €34,737 | +€19,326 | +125% |
| Remuneration, social security and pensions | 62 | - | €4,355 | +€4,355 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,205 | €21,903 | +€12,699 | +138% |
| Other operating charges | 640/8 | €387 | €747 | +€359 | +92.7% |
| Gross operating margin | 9900 | €34,539 | €27,791 | -€6,748 | -19.5% |
| Operating profit (loss) | 9901 | €24,947 | €786 | -€24,161 | -96.8% |
| Financial income | 75/76B | €1,000 | €2,061 | +€1,061 | +106% |
| Recurring financial income | 75 | €1,000 | €2,061 | +€1,061 | +106% |
| Financial charges | 65/66B | €392 | €3,367 | +€2,974 | +758% |
| Recurring financial charges | 65 | €392 | €3,367 | +€2,974 | +758% |
| Profit (loss) for the period before taxes | 9903 | €25,555 | -€519 | -€26,074 | |
| Income taxes | 67/77 | €3,959 | -€164 | -€4,124 | |
| Profit (loss) for the period | 9904 | €21,596 | -€355 | -€21,951 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,596 | -€355 | -€21,951 |
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.