BLU: 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.
BLU
Largest movements
- Current investments +€60,000
up €60,000 (+33.3%), from €180,000 to €240,000
- Cash -€33,188
down €33,188 (-33.2%), from €99,945 to €66,758
mainly Current investments (-€60,000) and Receivables within one year (-€12,231)
- Receivables within one year +€12,231
up €12,231 (+25.4%), from €48,142 to €60,373
of which Other amounts receivable: +€10,185
- Tangible fixed assets -€4,949
down €4,949 (-32.8%), from €15,111 to €10,162
of which Furniture and vehicles: -€4,949
- Profit (loss) carried forward +€25,878
up €25,878 (+2,050%), from €1,263 to €27,141
- Other debts +€7,903
up €7,903 (+106%), from €7,442 to €15,344
- Gross operating margin -€50,303
down €50,303 (-53.9%), from €93,338 to €43,035
- Taxes -€18,462
down €18,462 (-57.6%), from €32,037 to €13,575
- Depreciation -€6,049
down €6,049 (-55.0%), from €10,998 to €4,949
- Financial income -€2,864
down €2,864 (-53.6%), from €5,343 to €2,479
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 | €344,739 | €377,293 | +€32,554 | +9.4% |
| Fixed assets | 21/28 | €15,111 | €10,162 | -€4,949 | -32.8% |
| Tangible fixed assets | 22/27 | €15,111 | €10,162 | -€4,949 | -32.8% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €15,111 | €10,162 | -€4,949 | -32.8% |
| Current assets | 29/58 | €329,628 | €367,131 | +€37,503 | +11.4% |
| Amounts receivable within one year | 40/41 | €48,142 | €60,373 | +€12,231 | +25.4% |
| Trade receivables | 40 | €40,142 | €42,188 | +€2,046 | +5.1% |
| Other amounts receivable | 41 | €8,000 | €18,185 | +€10,185 | +127% |
| Current investments | 50/53 | €180,000 | €240,000 | +€60,000 | +33.3% |
| Cash at bank and in hand | 54/58 | €99,945 | €66,758 | -€33,188 | -33.2% |
| Deferred charges and accrued income | 490/1 | €1,540 | €0 | -€1,540 | -100% |
| Total equity and liabilities | 10/49 | €344,739 | €377,293 | +€32,554 | +9.4% |
| Equity | 10/15 | €329,286 | €355,165 | +€25,878 | +7.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €309,432 | €309,432 | = | 0.0% |
| Distributable reserves | 133 | €309,432 | €309,432 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,263 | €27,141 | +€25,878 | +2,050% |
| Amounts payable | 17/49 | €15,453 | €22,128 | +€6,675 | +43.2% |
| Amounts payable within one year | 42/48 | €15,453 | €22,128 | +€6,675 | +43.2% |
| Trade debts | 44 | €71 | €1,350 | +€1,279 | +1,811% |
| Suppliers | 440/4 | €71 | €1,350 | +€1,279 | +1,811% |
| Taxes, remuneration and social security | 45 | €7,941 | €5,434 | -€2,507 | -31.6% |
| Taxes | 450/3 | €7,941 | €5,434 | -€2,507 | -31.6% |
| Other amounts payable | 47/48 | €7,442 | €15,344 | +€7,903 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,998 | €4,949 | -€6,049 | -55.0% |
| Other operating charges | 640/8 | €871 | €892 | +€21 | +2.4% |
| Gross operating margin | 9900 | €93,338 | €43,035 | -€50,303 | -53.9% |
| Operating profit (loss) | 9901 | €81,468 | €37,193 | -€44,275 | -54.3% |
| Financial income | 75/76B | €5,343 | €2,479 | -€2,864 | -53.6% |
| Recurring financial income | 75 | €5,343 | €2,479 | -€2,864 | -53.6% |
| Financial charges | 65/66B | €139 | €218 | +€79 | +57.1% |
| Recurring financial charges | 65 | €139 | €218 | +€79 | +57.1% |
| Profit (loss) for the period before taxes | 9903 | €86,672 | €39,454 | -€47,219 | -54.5% |
| Income taxes | 67/77 | €32,037 | €13,575 | -€18,462 | -57.6% |
| Profit (loss) for the period | 9904 | €54,635 | €25,878 | -€28,757 | -52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €54,635 | €25,878 | -€28,757 | -52.6% |
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 30 October 2026 via checked.be.