BLIZZARD: what changed
Two fiscal 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.
BLIZZARD
Largest movements
- Receivables within one year -€15,918
down €15,918 (-11.5%), from €138,637 to €122,718
of which Trade receivables: -€15,918
- Tangible fixed assets -€3,447
down €3,447 (-24.2%), from €14,266 to €10,818
of which Land and buildings: -€2,119
- Cash -€2,400
down €2,400 (-31.3%), from €7,671 to €5,271
mainly Net result for the year (-€18,808) and Other debts (-€6,446)
- Deferred charges and accrued income +€2,175
up €2,175 (+469.6%), from €463 to €2,638
- Intangible fixed assets -€1,955
down €1,955 (-34.3%), from €5,703 to €3,748
- Profit (loss) carried forward -€18,808
down €18,808 (-33.7%), from €55,766 to €36,959
- Other debts -€6,446
down €6,446 (-95.1%), from €6,781 to €335
- Trade debts +€4,738
up €4,738 (+122.1%), from €3,879 to €8,617
- Staff costs -€85,064
down €85,064 (-46.1%), from €184,605 to €99,541
- Gross operating margin -€19,488
down €19,488 (-18.2%), from €106,974 to €87,486
- Depreciation -€4,967
down €4,967 (-44.6%), from €11,134 to €6,167
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 | €169,691 | €148,415 | -€21,276 | -12.5% |
| Fixed assets | 21/28 | €20,616 | €15,483 | -€5,133 | -24.9% |
| Intangible fixed assets | 21 | €5,703 | €3,748 | -€1,955 | -34.3% |
| Tangible fixed assets | 22/27 | €14,266 | €10,818 | -€3,447 | -24.2% |
| Land and buildings | 22 | €10,492 | €8,373 | -€2,119 | -20.2% |
| Plant, machinery and equipment | 23 | €3,299 | €1,683 | -€1,616 | -49.0% |
| Furniture and vehicles | 24 | €475 | - | -€475 | |
| Other tangible fixed assets | 26 | - | €763 | +€763 | |
| Financial fixed assets | 28 | €647 | €917 | +€270 | +41.7% |
| Current assets | 29/58 | €149,076 | €132,932 | -€16,143 | -10.8% |
| Stocks and contracts in progress | 3 | €2,305 | €2,305 | = | 0.0% |
| Stocks | 30/36 | €2,305 | €2,305 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €138,637 | €122,718 | -€15,918 | -11.5% |
| Trade receivables | 40 | €137,809 | €121,891 | -€15,918 | -11.6% |
| Other amounts receivable | 41 | €827 | €827 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €7,671 | €5,271 | -€2,400 | -31.3% |
| Deferred charges and accrued income | 490/1 | €463 | €2,638 | +€2,175 | +469.6% |
| Total equity and liabilities | 10/49 | €169,691 | €148,415 | -€21,276 | -12.5% |
| Equity | 10/15 | €146,788 | €127,980 | -€18,808 | -12.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €72,429 | €72,429 | = | 0.0% |
| Tax-exempt reserves | 132 | €28,175 | €28,175 | = | 0.0% |
| Distributable reserves | 133 | €44,254 | €44,254 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,766 | €36,959 | -€18,808 | -33.7% |
| Amounts payable | 17/49 | €22,904 | €20,435 | -€2,469 | -10.8% |
| Amounts payable within one year | 42/48 | €22,904 | €20,340 | -€2,564 | -11.2% |
| Trade debts | 44 | €3,879 | €8,617 | +€4,738 | +122.1% |
| Suppliers | 440/4 | €3,879 | €8,617 | +€4,738 | +122.1% |
| Taxes, remuneration and social security | 45 | €12,243 | €11,388 | -€855 | -7.0% |
| Taxes | 450/3 | €10,595 | €6,553 | -€4,043 | -38.2% |
| Remuneration and social security | 454/9 | €1,648 | €4,836 | +€3,187 | +193.4% |
| Other amounts payable | 47/48 | €6,781 | €335 | -€6,446 | -95.1% |
| Accrued charges and deferred income | 492/3 | - | €95 | +€95 | |
| Non-recurring operating income | 76A | €11,000 | - | -€11,000 | |
| Remuneration, social security and pensions | 62 | €184,605 | €99,541 | -€85,064 | -46.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,134 | €6,167 | -€4,967 | -44.6% |
| Other operating charges | 640/8 | €983 | €400 | -€584 | -59.4% |
| Gross operating margin | 9900 | €106,974 | €87,486 | -€19,488 | -18.2% |
| Operating profit (loss) | 9901 | -€89,748 | -€18,622 | +€71,126 | +79.3% |
| Financial income | 75/76B | €55 | €2 | -€52 | -95.9% |
| Recurring financial income | 75 | €55 | €2 | -€52 | -95.9% |
| Financial charges | 65/66B | €204 | €188 | -€16 | -7.9% |
| Recurring financial charges | 65 | €204 | €188 | -€16 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | -€89,898 | -€18,808 | +€71,090 | +79.1% |
| Income taxes | 67/77 | €264 | - | -€264 | |
| Profit (loss) for the period | 9904 | -€90,162 | -€18,808 | +€71,354 | +79.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€90,162 | -€18,808 | +€71,354 | +79.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.