BLINDEMAN LUC: 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.
BLINDEMAN LUC
Largest movements
- Cash +€22,134
up €22,134 (+56.6%), from €39,088 to €61,222
mainly Net result for the year (+€21,202) and Receivables within one year (+€21,040)
- Receivables within one year -€21,040
down €21,040 (-13.4%), from €156,853 to €135,812
of which Trade receivables: -€18,864
- Tangible fixed assets -€16,157
down €16,157 (-9.1%), from €177,360 to €161,203
of which Leasing and similar rights: -€14,628
- Receivables after one year -€9,821
down €9,821 (-15.4%), from €63,916 to €54,095
- Deferred charges and accrued income -€7,326
down €7,326 (-72.7%), from €10,076 to €2,750
- Trade debts -€38,093
down €38,093 (-97.1%), from €39,224 to €1,130
- Debts after one year -€16,727
down €16,727 (-22.3%), from €75,129 to €58,402
- Other debts +€14,411
up €14,411 (+90.5%), from €15,917 to €30,328
- Tax, wage and social debts +€11,532
up €11,532 (+4,791%), from €241 to €11,773
of which Remuneration and social security: +€8,695
- Reserves -€9,126
down €9,126 (-2.8%), from €329,942 to €320,816
of which Distributable reserves: -€9,126
- Staff costs +€21,774
up €21,774 (+34.7%), from €62,704 to €84,478
- Gross operating margin +€10,560
up €10,560 (+8.3%), from €127,966 to €138,525
- Depreciation +€7,506
up €7,506 (+75.3%), from €9,971 to €17,477
- Taxes +€3,353
up €3,353 (+47.8%), from €7,012 to €10,365
- Other operating charges -€2,153
down €2,153 (-36.8%), from €5,849 to €3,696
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 | €497,988 | €459,987 | -€38,001 | -7.6% |
| Fixed assets | 21/28 | €179,300 | €163,267 | -€16,033 | -8.9% |
| Tangible fixed assets | 22/27 | €177,360 | €161,203 | -€16,157 | -9.1% |
| Land and buildings | 22 | €123,817 | €122,093 | -€1,724 | -1.4% |
| Plant, machinery and equipment | 23 | €1,641 | €2,471 | +€830 | +50.6% |
| Furniture and vehicles | 24 | €1,580 | €945 | -€635 | -40.2% |
| Leasing and similar rights | 25 | €50,320 | €35,693 | -€14,628 | -29.1% |
| Financial fixed assets | 28 | €1,940 | €2,064 | +€124 | +6.4% |
| Current assets | 29/58 | €318,689 | €296,720 | -€21,969 | -6.9% |
| Amounts receivable after more than one year | 29 | €63,916 | €54,095 | -€9,821 | -15.4% |
| Other amounts receivable | 291 | €63,916 | €54,095 | -€9,821 | -15.4% |
| Stocks and contracts in progress | 3 | €48,757 | €42,841 | -€5,915 | -12.1% |
| Stocks | 30/36 | €48,757 | €42,841 | -€5,915 | -12.1% |
| Amounts receivable within one year | 40/41 | €156,853 | €135,812 | -€21,040 | -13.4% |
| Trade receivables | 40 | €66,181 | €47,317 | -€18,864 | -28.5% |
| Other amounts receivable | 41 | €90,671 | €88,495 | -€2,176 | -2.4% |
| Cash at bank and in hand | 54/58 | €39,088 | €61,222 | +€22,134 | +56.6% |
| Deferred charges and accrued income | 490/1 | €10,076 | €2,750 | -€7,326 | -72.7% |
| Total equity and liabilities | 10/49 | €497,988 | €459,987 | -€38,001 | -7.6% |
| Equity | 10/15 | €342,342 | €333,216 | -€9,126 | -2.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €329,942 | €320,816 | -€9,126 | -2.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €329,942 | €320,816 | -€9,126 | -2.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €155,646 | €126,771 | -€28,876 | -18.6% |
| Amounts payable after more than one year | 17 | €75,129 | €58,402 | -€16,727 | -22.3% |
| Financial debts | 170/4 | €75,129 | €58,402 | -€16,727 | -22.3% |
| Amounts payable within one year | 42/48 | €74,891 | €59,958 | -€14,933 | -19.9% |
| Current portion of amounts payable after more than one year | 42 | €19,510 | €16,727 | -€2,783 | -14.3% |
| Trade debts | 44 | €39,224 | €1,130 | -€38,093 | -97.1% |
| Suppliers | 440/4 | €39,224 | €1,130 | -€38,093 | -97.1% |
| Taxes, remuneration and social security | 45 | €241 | €11,773 | +€11,532 | +4,791% |
| Taxes | 450/3 | €0 | €2,837 | +€2,837 | |
| Remuneration and social security | 454/9 | €241 | €8,936 | +€8,695 | +3,613% |
| Other amounts payable | 47/48 | €15,917 | €30,328 | +€14,411 | +90.5% |
| Accrued charges and deferred income | 492/3 | €5,626 | €8,410 | +€2,784 | +49.5% |
| Non-recurring operating income | 76A | - | €1,446 | +€1,446 | |
| Remuneration, social security and pensions | 62 | €62,704 | €84,478 | +€21,774 | +34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,971 | €17,477 | +€7,506 | +75.3% |
| Other operating charges | 640/8 | €5,849 | €3,696 | -€2,153 | -36.8% |
| Gross operating margin | 9900 | €127,966 | €138,525 | +€10,560 | +8.3% |
| Operating profit (loss) | 9901 | €49,442 | €32,874 | -€16,568 | -33.5% |
| Financial income | 75/76B | €2,643 | €2,852 | +€209 | +7.9% |
| Recurring financial income | 75 | €2,643 | €2,852 | +€209 | +7.9% |
| Financial charges | 65/66B | €2,386 | €4,160 | +€1,773 | +74.3% |
| Recurring financial charges | 65 | €2,386 | €4,160 | +€1,773 | +74.3% |
| Profit (loss) for the period before taxes | 9903 | €49,699 | €31,567 | -€18,132 | -36.5% |
| Income taxes | 67/77 | €7,012 | €10,365 | +€3,353 | +47.8% |
| Profit (loss) for the period | 9904 | €42,687 | €21,202 | -€21,485 | -50.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,687 | €21,202 | -€21,485 | -50.3% |
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 23 October 2026 via checked.be.