BLIECK DAVID: 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.
BLIECK DAVID
Largest movements
- Cash +€10,456
up €10,456 (+19.9%), from €52,658 to €63,115
mainly Net result for the year (+€49,086) and Depreciation (+€23,035)
- Tangible fixed assets -€7,231
down €7,231 (-1.6%), from €442,053 to €434,821
of which Assets under construction and advance payments: -€306,252
- Debts after one year -€30,134
down €30,134 (-9.3%), from €323,240 to €293,106
- Reserves +€30,103
up €30,103 (+55.1%), from €54,600 to €84,703
- Gross operating margin +€26,711
up €26,711 (+12.8%), from €208,763 to €235,475
- Taxes +€6,096
up €6,096 (+67.6%), from €9,011 to €15,107
- Staff costs -€4,737
down €4,737 (-3.3%), from €144,036 to €139,299
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 | €526,976 | €525,881 | -€1,095 | -0.2% |
| Fixed assets | 21/28 | €471,560 | €459,429 | -€12,131 | -2.6% |
| Intangible fixed assets | 21 | €29,507 | €24,607 | -€4,900 | -16.6% |
| Tangible fixed assets | 22/27 | €442,053 | €434,821 | -€7,231 | -1.6% |
| Land and buildings | 22 | €117,325 | €421,160 | +€303,835 | +259% |
| Plant, machinery and equipment | 23 | €16,456 | €13,038 | -€3,417 | -20.8% |
| Furniture and vehicles | 24 | €2,020 | €623 | -€1,397 | -69.1% |
| Assets under construction and advance payments | 27 | €306,252 | €0 | -€306,252 | -100% |
| Current assets | 29/58 | €55,416 | €66,452 | +€11,036 | +19.9% |
| Amounts receivable within one year | 40/41 | €474 | €1,263 | +€788 | +166% |
| Other amounts receivable | 41 | €474 | €1,263 | +€788 | +166% |
| Cash at bank and in hand | 54/58 | €52,658 | €63,115 | +€10,456 | +19.9% |
| Deferred charges and accrued income | 490/1 | €2,283 | €2,075 | -€208 | -9.1% |
| Total equity and liabilities | 10/49 | €526,976 | €525,881 | -€1,095 | -0.2% |
| Equity | 10/15 | €57,263 | €87,203 | +€29,939 | +52.3% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €54,600 | €84,703 | +€30,103 | +55.1% |
| Distributable reserves | 133 | €54,600 | €84,703 | +€30,103 | +55.1% |
| Profit (loss) carried forward | 14 | €163 | €0 | -€163 | -100% |
| Amounts payable | 17/49 | €469,713 | €438,678 | -€31,034 | -6.6% |
| Amounts payable after more than one year | 17 | €323,240 | €293,106 | -€30,134 | -9.3% |
| Financial debts | 170/4 | €323,240 | €293,106 | -€30,134 | -9.3% |
| Amounts payable within one year | 42/48 | €146,472 | €145,572 | -€900 | -0.6% |
| Current portion of amounts payable after more than one year | 42 | €30,177 | €27,134 | -€3,043 | -10.1% |
| Financial debts | 43 | €7,510 | €11,037 | +€3,527 | +47.0% |
| Credit institutions | 430/8 | €7,510 | €11,037 | +€3,527 | +47.0% |
| Trade debts | 44 | €53,029 | €48,601 | -€4,428 | -8.4% |
| Suppliers | 440/4 | €53,029 | €48,601 | -€4,428 | -8.4% |
| Taxes, remuneration and social security | 45 | €17,885 | €21,525 | +€3,640 | +20.4% |
| Taxes | 450/3 | €5,725 | €11,941 | +€6,216 | +109% |
| Remuneration and social security | 454/9 | €12,160 | €9,584 | -€2,576 | -21.2% |
| Other amounts payable | 47/48 | €37,871 | €37,275 | -€596 | -1.6% |
| Non-recurring operating income | 76A | €1 | €0 | -€1 | -100% |
| Remuneration, social security and pensions | 62 | €144,036 | €139,299 | -€4,737 | -3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,816 | €23,035 | +€219 | +1.0% |
| Other operating charges | 640/8 | €1,526 | €1,265 | -€261 | -17.1% |
| Gross operating margin | 9900 | €208,763 | €235,475 | +€26,711 | +12.8% |
| Operating profit (loss) | 9901 | €40,385 | €71,875 | +€31,490 | +78.0% |
| Financial income | 75/76B | €53 | €4 | -€49 | -92.3% |
| Recurring financial income | 75 | €53 | €4 | -€49 | -92.3% |
| Financial charges | 65/66B | €7,328 | €7,686 | +€358 | +4.9% |
| Recurring financial charges | 65 | €7,328 | €7,686 | +€358 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €33,110 | €64,193 | +€31,083 | +93.9% |
| Income taxes | 67/77 | €9,011 | €15,107 | +€6,096 | +67.6% |
| Profit (loss) for the period | 9904 | €24,099 | €49,086 | +€24,988 | +104% |
| Profit (loss) for the period to be appropriated | 9905 | €24,099 | €49,086 | +€24,988 | +104% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.