BLOND - CUVELIER: 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.
BLOND - CUVELIER
Largest movements
- Stocks and contracts -€158,754
no longer reported in 2025 (was €158,754)
- Tangible fixed assets +€99,825
up €99,825 (+13.3%), from €748,747 to €848,572
- Receivables within one year -€26,775
down €26,775 (-14.0%), from €191,071 to €164,296
of which Other amounts receivable: -€31,691
- Profit (loss) carried forward -€101,735
down €101,735 (-6,042%), from -€1,684 to -€103,419
- Other debts +€20,064
up €20,064 (+5.2%), from €387,795 to €407,859
- Debts after one year -€17,758
down €17,758 (-3.4%), from €524,215 to €506,457
- Gross operating margin -€78,040
down €78,040 (-66,690%), from -€117 to -€78,157
- Financial charges +€17,461
up €17,461 (+3,409%), from €512 to €17,973
- Depreciation +€4,961
up €4,961 (+1,871%), from €265 to €5,226
- Financial income -€1,723
down €1,723 (-81.3%), from €2,120 to €397
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 | €1,098,816 | €1,013,412 | -€85,404 | -7.8% |
| Formation expenses | 20 | €131 | - | -€131 | |
| Fixed assets | 21/28 | €748,747 | €848,572 | +€99,825 | +13.3% |
| Tangible fixed assets | 22/27 | €748,747 | €848,572 | +€99,825 | +13.3% |
| Land and buildings | 22 | €748,747 | €848,572 | +€99,825 | +13.3% |
| Current assets | 29/58 | €349,938 | €164,840 | -€185,098 | -52.9% |
| Stocks and contracts in progress | 3 | €158,754 | - | -€158,754 | |
| Stocks | 30/36 | €158,754 | - | -€158,754 | |
| Amounts receivable within one year | 40/41 | €191,071 | €164,296 | -€26,775 | -14.0% |
| Trade receivables | 40 | - | €4,916 | +€4,916 | |
| Other amounts receivable | 41 | €191,071 | €159,379 | -€31,691 | -16.6% |
| Cash at bank and in hand | 54/58 | €13 | €410 | +€397 | +3,069% |
| Deferred charges and accrued income | 490/1 | €101 | €134 | +€33 | +33.3% |
| Total equity and liabilities | 10/49 | €1,098,816 | €1,013,412 | -€85,404 | -7.8% |
| Equity | 10/15 | €18,316 | -€83,419 | -€101,735 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,684 | -€103,419 | -€101,735 | -6,042% |
| Amounts payable | 17/49 | €1,080,500 | €1,096,831 | +€16,331 | +1.5% |
| Amounts payable after more than one year | 17 | €524,215 | €506,457 | -€17,758 | -3.4% |
| Financial debts | 170/4 | €524,215 | €506,457 | -€17,758 | -3.4% |
| Amounts payable within one year | 42/48 | €556,285 | €589,227 | +€32,942 | +5.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,874 | +€6,874 | |
| Trade debts | 44 | €11,253 | €15,315 | +€4,062 | +36.1% |
| Suppliers | 440/4 | €11,253 | €15,315 | +€4,062 | +36.1% |
| Taxes, remuneration and social security | 45 | €157,237 | €159,178 | +€1,942 | +1.2% |
| Taxes | 450/3 | €157,237 | €159,178 | +€1,942 | +1.2% |
| Other amounts payable | 47/48 | €387,795 | €407,859 | +€20,064 | +5.2% |
| Accrued charges and deferred income | 492/3 | - | €1,147 | +€1,147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €265 | €5,226 | +€4,961 | +1,871% |
| Other operating charges | 640/8 | €727 | €776 | +€48 | +6.7% |
| Gross operating margin | 9900 | -€117 | -€78,157 | -€78,040 | -66,690% |
| Operating profit (loss) | 9901 | -€1,110 | -€84,159 | -€83,050 | -7,485% |
| Financial income | 75/76B | €2,120 | €397 | -€1,723 | -81.3% |
| Recurring financial income | 75 | €2,120 | €397 | -€1,723 | -81.3% |
| Financial charges | 65/66B | €512 | €17,973 | +€17,461 | +3,409% |
| Recurring financial charges | 65 | €512 | €17,973 | +€17,461 | +3,409% |
| Profit (loss) for the period before taxes | 9903 | €498 | -€101,735 | -€102,234 | |
| Profit (loss) for the period | 9904 | €498 | -€101,735 | -€102,234 | |
| Profit (loss) for the period to be appropriated | 9905 | €498 | -€101,735 | -€102,234 |
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 27 October 2026 via checked.be.