BLR MANAGEMENT: 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.
BLR MANAGEMENT
Largest movements
- Financial fixed assets +€150,041
new in 2025: €150,041
- Cash +€26,931
up €26,931 (+413%), from €6,522 to €33,453
mainly Debts after one year (+€78,081) and Net result for the year (+€49,738)
- Receivables within one year +€3,072
up €3,072 (+44.6%), from €6,894 to €9,966
- Debts after one year +€78,081
new in 2025: €78,081
- Reserves +€49,738
up €49,738 (+419%), from €11,880 to €61,619
- Tax, wage and social debts +€33,202
new in 2025: €33,202
- Current portion of long-term debt +€18,839
new in 2025: €18,839
- Gross operating margin +€57,332
up €57,332 (+277%), from €20,689 to €78,021
- Taxes +€19,671
up €19,671 (+312%), from €6,310 to €25,981
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 | €15,198 | €195,437 | +€180,238 | +1,186% |
| Fixed assets | 21/28 | €1,151 | €150,764 | +€149,614 | +13,001% |
| Tangible fixed assets | 22/27 | €1,151 | €723 | -€427 | -37.1% |
| Furniture and vehicles | 24 | €1,151 | €723 | -€427 | -37.1% |
| Financial fixed assets | 28 | - | €150,041 | +€150,041 | |
| Current assets | 29/58 | €14,048 | €44,672 | +€30,624 | +218% |
| Amounts receivable within one year | 40/41 | €6,894 | €9,966 | +€3,072 | +44.6% |
| Other amounts receivable | 41 | €6,894 | €9,966 | +€3,072 | +44.6% |
| Cash at bank and in hand | 54/58 | €6,522 | €33,453 | +€26,931 | +413% |
| Deferred charges and accrued income | 490/1 | €631 | €1,253 | +€621 | +98.4% |
| Total equity and liabilities | 10/49 | €15,198 | €195,437 | +€180,238 | +1,186% |
| Equity | 10/15 | €14,380 | €64,119 | +€49,738 | +346% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €11,880 | €61,619 | +€49,738 | +419% |
| Distributable reserves | 133 | €11,880 | €61,619 | +€49,738 | +419% |
| Amounts payable | 17/49 | €818 | €131,318 | +€130,500 | +15,952% |
| Amounts payable after more than one year | 17 | - | €78,081 | +€78,081 | |
| Financial debts | 170/4 | - | €78,081 | +€78,081 | |
| Amounts payable within one year | 42/48 | €818 | €53,237 | +€52,419 | +6,407% |
| Current portion of amounts payable after more than one year | 42 | - | €18,839 | +€18,839 | |
| Financial debts | 43 | - | €262 | +€262 | |
| Other loans | 439 | - | €262 | +€262 | |
| Trade debts | 44 | €818 | €933 | +€115 | +14.1% |
| Suppliers | 440/4 | €818 | €933 | +€115 | +14.1% |
| Taxes, remuneration and social security | 45 | - | €33,202 | +€33,202 | |
| Taxes | 450/3 | - | €33,202 | +€33,202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €329 | €427 | +€98 | +29.7% |
| Other operating charges | 640/8 | €482 | €189 | -€293 | -60.8% |
| Gross operating margin | 9900 | €20,689 | €78,021 | +€57,332 | +277% |
| Operating profit (loss) | 9901 | €19,878 | €77,405 | +€57,527 | +289% |
| Financial income | 75/76B | €101 | €277 | +€176 | +173% |
| Recurring financial income | 75 | €101 | €277 | +€176 | +173% |
| Financial charges | 65/66B | €1,789 | €1,963 | +€174 | +9.7% |
| Recurring financial charges | 65 | €1,789 | €1,963 | +€174 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €18,190 | €75,719 | +€57,529 | +316% |
| Income taxes | 67/77 | €6,310 | €25,981 | +€19,671 | +312% |
| Profit (loss) for the period | 9904 | €11,880 | €49,738 | +€37,858 | +319% |
| Profit (loss) for the period to be appropriated | 9905 | €11,880 | €49,738 | +€37,858 | +319% |
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 13 October 2026 via checked.be.