BLONDEN: 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.
BLONDEN
Largest movements
- Tangible fixed assets +€784,978
up €784,978 (+171%), from €460,313 to €1.2m
of which Land and buildings: +€789,301
- Receivables after one year -€217,487
down €217,487 (-65.0%), from €334,837 to €117,351
- Revaluation surpluses +€625,301
new in 2025: €625,301
- Short-term financial debts -€200,267
down €200,267 (-49.9%), from €401,685 to €201,418
- Debts after one year +€114,491
up €114,491 (+25.0%), from €457,324 to €571,815
of which Financial debts: +€118,511
- Accrued charges and deferred income +€75,357
up €75,357 (+75.2%), from €100,237 to €175,594
- Profit (loss) carried forward -€59,460
down €59,460 (-31.4%), from -€189,609 to -€249,069
- Gross operating margin -€15,436
down €15,436 (-42.0%), from €36,780 to €21,343
- Financial income -€8,312
down €8,312 (-64.4%), from €12,910 to €4,599
- Financial charges -€6,058
down €6,058 (-17.5%), from €34,553 to €28,495
- Depreciation +€5,260
up €5,260 (+12.8%), from €41,132 to €46,392
- Taxes -€4,647
no longer reported in 2025 (was €4,647)
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 | €817,542 | €1,393,358 | +€575,816 | +70.4% |
| Fixed assets | 21/28 | €460,313 | €1,245,290 | +€784,978 | +171% |
| Tangible fixed assets | 22/27 | €460,313 | €1,245,290 | +€784,978 | +171% |
| Land and buildings | 22 | €452,434 | €1,241,735 | +€789,301 | +174% |
| Plant, machinery and equipment | 23 | €1,798 | €1,256 | -€541 | -30.1% |
| Furniture and vehicles | 24 | €6,081 | €2,299 | -€3,782 | -62.2% |
| Current assets | 29/58 | €357,230 | €148,068 | -€209,162 | -58.6% |
| Amounts receivable after more than one year | 29 | €334,837 | €117,351 | -€217,487 | -65.0% |
| Other amounts receivable | 291 | €334,837 | €117,351 | -€217,487 | -65.0% |
| Amounts receivable within one year | 40/41 | €18,372 | €30,106 | +€11,734 | +63.9% |
| Trade receivables | 40 | €7,608 | €22,782 | +€15,174 | +199% |
| Other amounts receivable | 41 | €10,763 | €7,323 | -€3,440 | -32.0% |
| Cash at bank and in hand | 54/58 | €3,672 | €612 | -€3,060 | -83.3% |
| Deferred charges and accrued income | 490/1 | €349 | - | -€349 | |
| Total equity and liabilities | 10/49 | €817,542 | €1,393,358 | +€575,816 | +70.4% |
| Equity | 10/15 | -€174,609 | €391,232 | +€565,841 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €625,301 | +€625,301 | |
| Profit (loss) carried forward | 14 | -€189,609 | -€249,069 | -€59,460 | -31.4% |
| Amounts payable | 17/49 | €992,152 | €1,002,127 | +€9,975 | +1.0% |
| Amounts payable after more than one year | 17 | €457,324 | €571,815 | +€114,491 | +25.0% |
| Financial debts | 170/4 | €453,004 | €571,515 | +€118,511 | +26.2% |
| Other amounts payable | 178/9 | €4,320 | €300 | -€4,020 | -93.1% |
| Amounts payable within one year | 42/48 | €434,591 | €254,718 | -€179,873 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €29,281 | €35,187 | +€5,906 | +20.2% |
| Financial debts | 43 | €401,685 | €201,418 | -€200,267 | -49.9% |
| Credit institutions | 430/8 | €401,685 | €201,418 | -€200,267 | -49.9% |
| Trade debts | 44 | €3,626 | €17,386 | +€13,761 | +380% |
| Suppliers | 440/4 | €3,626 | €17,386 | +€13,761 | +380% |
| Taxes, remuneration and social security | 45 | - | €728 | +€728 | |
| Taxes | 450/3 | - | €728 | +€728 | |
| Accrued charges and deferred income | 492/3 | €100,237 | €175,594 | +€75,357 | +75.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,132 | €46,392 | +€5,260 | +12.8% |
| Other operating charges | 640/8 | €7,995 | €10,515 | +€2,520 | +31.5% |
| Gross operating margin | 9900 | €36,780 | €21,343 | -€15,436 | -42.0% |
| Operating profit (loss) | 9901 | -€12,347 | -€35,564 | -€23,217 | -188% |
| Financial income | 75/76B | €12,910 | €4,599 | -€8,312 | -64.4% |
| Recurring financial income | 75 | €12,910 | €4,599 | -€8,312 | -64.4% |
| Financial charges | 65/66B | €34,553 | €28,495 | -€6,058 | -17.5% |
| Recurring financial charges | 65 | €34,553 | €28,495 | -€6,058 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | -€33,990 | -€59,460 | -€25,470 | -74.9% |
| Income taxes | 67/77 | €4,647 | - | -€4,647 | |
| Profit (loss) for the period | 9904 | -€38,637 | -€59,460 | -€20,823 | -53.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,637 | -€59,460 | -€20,823 | -53.9% |
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 21 October 2026 via checked.be.