Blue Bridges: 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.
Blue Bridges
Largest movements
- Receivables within one year +€194,538
up €194,538 (+716%), from €27,174 to €221,712
of which Other amounts receivable: +€142,208
- Cash -€157,018
down €157,018 (-75.5%), from €207,838 to €50,821
mainly Receivables within one year (-€194,538) and Contributions, distributions and other (-€122,000)
- Tangible fixed assets +€78,480
up €78,480 (+192%), from €40,968 to €119,448
of which Other tangible fixed assets: +€89,744
- Other debts +€122,000
up €122,000, from €0 to €122,000
- Reserves -€113,200
down €113,200 (-47.5%), from €238,543 to €125,343
- Debts after one year +€79,598
up €79,598 (+3,057%), from €2,604 to €82,202
- Tax, wage and social debts +€11,367
up €11,367 (+153%), from €7,421 to €18,787
of which Remuneration and social security: +€7,286
- Trade debts +€8,657
up €8,657 (+222%), from €3,903 to €12,560
- Staff costs +€57,156
new in 2025: €57,156
- Taxes -€15,480
down €15,480 (-85.2%), from €18,166 to €2,686
- Financial income +€5,403
up €5,403 (+4,417%), from €122 to €5,526
- Depreciation +€3,292
up €3,292 (+29.2%), from €11,264 to €14,556
- Gross operating margin +€2,354
up €2,354 (+3.0%), from €79,495 to €81,848
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 | €277,851 | €392,459 | +€114,608 | +41.2% |
| Fixed assets | 21/28 | €40,968 | €119,448 | +€78,480 | +192% |
| Tangible fixed assets | 22/27 | €40,968 | €119,448 | +€78,480 | +192% |
| Furniture and vehicles | 24 | €13,516 | €2,253 | -€11,264 | -83.3% |
| Other tangible fixed assets | 26 | €27,451 | €117,195 | +€89,744 | +327% |
| Current assets | 29/58 | €236,883 | €273,011 | +€36,128 | +15.3% |
| Amounts receivable within one year | 40/41 | €27,174 | €221,712 | +€194,538 | +716% |
| Trade receivables | 40 | €244 | €52,574 | +€52,330 | +21,412% |
| Other amounts receivable | 41 | €26,930 | €169,138 | +€142,208 | +528% |
| Cash at bank and in hand | 54/58 | €207,838 | €50,821 | -€157,018 | -75.5% |
| Deferred charges and accrued income | 490/1 | €1,870 | €477 | -€1,393 | -74.5% |
| Total equity and liabilities | 10/49 | €277,851 | €392,459 | +€114,608 | +41.2% |
| Equity | 10/15 | €253,566 | €140,473 | -€113,093 | -44.6% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €238,543 | €125,343 | -€113,200 | -47.5% |
| Distributable reserves | 133 | €238,543 | €125,343 | -€113,200 | -47.5% |
| Profit (loss) carried forward | 14 | €23 | €129 | +€107 | +467% |
| Amounts payable | 17/49 | €24,285 | €251,986 | +€227,701 | +938% |
| Amounts payable after more than one year | 17 | €2,604 | €82,202 | +€79,598 | +3,057% |
| Financial debts | 170/4 | €2,604 | €82,202 | +€79,598 | +3,057% |
| Amounts payable within one year | 42/48 | €21,681 | €169,784 | +€148,103 | +683% |
| Current portion of amounts payable after more than one year | 42 | €10,357 | €16,436 | +€6,079 | +58.7% |
| Trade debts | 44 | €3,903 | €12,560 | +€8,657 | +222% |
| Suppliers | 440/4 | €3,903 | €12,560 | +€8,657 | +222% |
| Taxes, remuneration and social security | 45 | €7,421 | €18,787 | +€11,367 | +153% |
| Taxes | 450/3 | €7,421 | €11,501 | +€4,081 | +55.0% |
| Remuneration and social security | 454/9 | €0 | €7,286 | +€7,286 | |
| Other amounts payable | 47/48 | €0 | €122,000 | +€122,000 | |
| Remuneration, social security and pensions | 62 | - | €57,156 | +€57,156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,264 | €14,556 | +€3,292 | +29.2% |
| Other operating charges | 640/8 | €434 | €591 | +€157 | +36.1% |
| Gross operating margin | 9900 | €79,495 | €81,848 | +€2,354 | +3.0% |
| Operating profit (loss) | 9901 | €67,797 | €9,545 | -€58,251 | -85.9% |
| Financial income | 75/76B | €122 | €5,526 | +€5,403 | +4,417% |
| Recurring financial income | 75 | €122 | €5,526 | +€5,403 | +4,417% |
| Financial charges | 65/66B | €2,234 | €3,478 | +€1,244 | +55.7% |
| Recurring financial charges | 65 | €2,234 | €3,478 | +€1,244 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €65,685 | €11,593 | -€54,092 | -82.4% |
| Income taxes | 67/77 | €18,166 | €2,686 | -€15,480 | -85.2% |
| Profit (loss) for the period | 9904 | €47,519 | €8,907 | -€38,612 | -81.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,519 | €8,907 | -€38,612 | -81.3% |
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 31 October 2026 via checked.be.