BLM SLM: 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.
BLM SLM
Largest movements
- Cash +€191,494
up €191,494 (+47.2%), from €405,688 to €597,182
mainly Other debts (+€220,358) and Net result for the year (+€129,339)
- Stocks and contracts -€14,124
no longer reported in 2025 (was €14,124)
- Receivables within one year -€7,176
down €7,176 (-34.2%), from €20,960 to €13,784
of which Other amounts receivable: -€9,431
- Other debts +€220,358
up €220,358 (+4141.2%), from €5,321 to €225,679
- Reserves -€87,202
down €87,202 (-22.4%), from €389,373 to €302,171
- Tax, wage and social debts +€16,689
up €16,689 (+46.4%), from €35,950 to €52,639
of which Taxes: +€18,614
- Trade debts +€12,001
up €12,001 (+32.1%), from €37,362 to €49,362
- Gross operating margin -€11,422
down €11,422 (-4.8%), from €236,178 to €224,756
- Depreciation -€11,179
down €11,179 (-51.0%), from €21,915 to €10,736
- Staff costs -€10,817
down €10,817 (-40.9%), from €26,449 to €15,632
- Financial charges +€5,349
up €5,349 (+431.7%), from €1,239 to €6,588
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 | €471,102 | €635,247 | +€164,144 | +34.8% |
| Fixed assets | 21/28 | €30,330 | €21,097 | -€9,233 | -30.4% |
| Intangible fixed assets | 21 | €4,110 | - | -€4,110 | |
| Tangible fixed assets | 22/27 | €26,221 | €21,097 | -€5,124 | -19.5% |
| Land and buildings | 22 | €691 | €563 | -€128 | -18.5% |
| Plant, machinery and equipment | 23 | €17,690 | €12,925 | -€4,765 | -26.9% |
| Furniture and vehicles | 24 | €237 | €1,286 | +€1,049 | +442.5% |
| Other tangible fixed assets | 26 | €7,603 | €6,323 | -€1,280 | -16.8% |
| Current assets | 29/58 | €440,772 | €614,150 | +€173,378 | +39.3% |
| Stocks and contracts in progress | 3 | €14,124 | - | -€14,124 | |
| Stocks | 30/36 | €14,124 | - | -€14,124 | |
| Amounts receivable within one year | 40/41 | €20,960 | €13,784 | -€7,176 | -34.2% |
| Trade receivables | 40 | €7,814 | €10,069 | +€2,255 | +28.9% |
| Other amounts receivable | 41 | €13,146 | €3,715 | -€9,431 | -71.7% |
| Cash at bank and in hand | 54/58 | €405,688 | €597,182 | +€191,494 | +47.2% |
| Deferred charges and accrued income | 490/1 | - | €3,184 | +€3,184 | |
| Total equity and liabilities | 10/49 | €471,102 | €635,247 | +€164,144 | +34.8% |
| Equity | 10/15 | €392,373 | €305,171 | -€87,202 | -22.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €389,373 | €302,171 | -€87,202 | -22.4% |
| Distributable reserves | 133 | €389,373 | €302,171 | -€87,202 | -22.4% |
| Amounts payable | 17/49 | €78,729 | €330,075 | +€251,347 | +319.3% |
| Amounts payable within one year | 42/48 | €78,633 | €327,681 | +€249,048 | +316.7% |
| Trade debts | 44 | €37,362 | €49,362 | +€12,001 | +32.1% |
| Suppliers | 440/4 | €37,362 | €49,362 | +€12,001 | +32.1% |
| Taxes, remuneration and social security | 45 | €35,950 | €52,639 | +€16,689 | +46.4% |
| Taxes | 450/3 | €29,111 | €47,725 | +€18,614 | +63.9% |
| Remuneration and social security | 454/9 | €6,839 | €4,914 | -€1,925 | -28.1% |
| Other amounts payable | 47/48 | €5,321 | €225,679 | +€220,358 | +4141.2% |
| Accrued charges and deferred income | 492/3 | €96 | €2,395 | +€2,299 | +2389.7% |
| Remuneration, social security and pensions | 62 | €26,449 | €15,632 | -€10,817 | -40.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,915 | €10,736 | -€11,179 | -51.0% |
| Other operating charges | 640/8 | €2,988 | €1,867 | -€1,121 | -37.5% |
| Gross operating margin | 9900 | €236,178 | €224,756 | -€11,422 | -4.8% |
| Operating profit (loss) | 9901 | €184,825 | €196,521 | +€11,695 | +6.3% |
| Financial income | 75/76B | €57 | €12 | -€45 | -78.9% |
| Recurring financial income | 75 | €57 | €12 | -€45 | -78.9% |
| Financial charges | 65/66B | €1,239 | €6,588 | +€5,349 | +431.7% |
| Recurring financial charges | 65 | €1,239 | €6,588 | +€5,349 | +431.7% |
| Profit (loss) for the period before taxes | 9903 | €183,644 | €189,945 | +€6,302 | +3.4% |
| Income taxes | 67/77 | €59,111 | €60,606 | +€1,495 | +2.5% |
| Profit (loss) for the period | 9904 | €124,533 | €129,339 | +€4,806 | +3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €124,533 | €129,339 | +€4,806 | +3.9% |
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 3 October 2026 via checked.be.