BLONDIN: 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.
BLONDIN
Largest movements
- Tangible fixed assets +€20,784
up €20,784 (+594%), from €3,500 to €24,284
of which Leasing and similar rights: +€21,660
- Cash -€14,085
down €14,085 (-96.5%), from €14,601 to €516
mainly Investment in fixed assets (net) (-€25,690) and Other debts (-€21,517)
- Stocks and contracts -€7,200
no longer reported in 2025 (was €7,200)
- Receivables within one year +€1,107
new in 2025: €1,107
- Profit (loss) carried forward +€25,800
up €25,800 (+61.9%), from -€41,662 to -€15,862
- Other debts -€21,517
down €21,517 (-46.7%), from €46,090 to €24,573
- Trade debts -€3,643
down €3,643 (-88.8%), from €4,101 to €458
- Gross operating margin +€10,129
up €10,129 (+47.5%), from €21,345 to €31,474
- Depreciation +€3,156
up €3,156 (+180%), from €1,750 to €4,906
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 | €25,485 | €26,091 | +€606 | +2.4% |
| Fixed assets | 21/28 | €3,684 | €24,468 | +€20,784 | +564% |
| Tangible fixed assets | 22/27 | €3,500 | €24,284 | +€20,784 | +594% |
| Plant, machinery and equipment | 23 | - | €874 | +€874 | |
| Furniture and vehicles | 24 | €3,500 | €1,750 | -€1,750 | -50.0% |
| Leasing and similar rights | 25 | - | €21,660 | +€21,660 | |
| Financial fixed assets | 28 | €184 | €184 | = | 0.0% |
| Current assets | 29/58 | €21,801 | €1,623 | -€20,178 | -92.6% |
| Stocks and contracts in progress | 3 | €7,200 | - | -€7,200 | |
| Stocks | 30/36 | €7,200 | - | -€7,200 | |
| Amounts receivable within one year | 40/41 | - | €1,107 | +€1,107 | |
| Trade receivables | 40 | - | €1,107 | +€1,107 | |
| Cash at bank and in hand | 54/58 | €14,601 | €516 | -€14,085 | -96.5% |
| Total equity and liabilities | 10/49 | €25,485 | €26,091 | +€606 | +2.4% |
| Equity | 10/15 | -€24,802 | €998 | +€25,800 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Contributions outside capital | 11 | €15,000 | €15,000 | = | 0.0% |
| Share premium | 1100/10 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€41,662 | -€15,862 | +€25,800 | +61.9% |
| Amounts payable | 17/49 | €50,287 | €25,093 | -€25,194 | -50.1% |
| Amounts payable within one year | 42/48 | €50,287 | €25,093 | -€25,194 | -50.1% |
| Trade debts | 44 | €4,101 | €458 | -€3,643 | -88.8% |
| Suppliers | 440/4 | €4,101 | €458 | -€3,643 | -88.8% |
| Taxes, remuneration and social security | 45 | €96 | €62 | -€34 | -35.4% |
| Taxes | 450/3 | €96 | €62 | -€34 | -35.4% |
| Other amounts payable | 47/48 | €46,090 | €24,573 | -€21,517 | -46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,750 | €4,906 | +€3,156 | +180% |
| Other operating charges | 640/8 | €531 | €510 | -€21 | -4.0% |
| Gross operating margin | 9900 | €21,345 | €31,474 | +€10,129 | +47.5% |
| Operating profit (loss) | 9901 | €19,064 | €26,058 | +€6,994 | +36.7% |
| Financial charges | 65/66B | €110 | €84 | -€26 | -23.6% |
| Recurring financial charges | 65 | €110 | €84 | -€26 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €18,954 | €25,974 | +€7,020 | +37.0% |
| Income taxes | 67/77 | - | €174 | +€174 | |
| Profit (loss) for the period | 9904 | €18,954 | €25,800 | +€6,846 | +36.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,954 | €25,800 | +€6,846 | +36.1% |
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 15 October 2026 via checked.be.