Blue Code: what changed
Two fiscal 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 Code
Largest movements
- Cash +€33,333
up €33,333 (+110.0%), from €30,308 to €63,641
mainly Net result for the year (+€26,362) and Receivables within one year (+€19,482)
- Receivables within one year -€19,482
down €19,482 (-51.7%), from €37,690 to €18,207
of which Trade receivables: -€20,480
- Tangible fixed assets +€10,254
new in 2025: €10,254
- Reserves +€74,971
new in 2025: €74,971
- Profit (loss) carried forward -€48,609
down €48,609 (-100.0%), from €48,609 to €0
- Tax, wage and social debts -€4,936
down €4,936 (-38.8%), from €12,717 to €7,780
- Other debts +€3,179
up €3,179 (+167.4%), from €1,899 to €5,078
- Gross operating margin -€24,790
down €24,790 (-40.2%), from €61,690 to €36,900
- Taxes -€4,947
down €4,947 (-38.9%), from €12,702 to €7,755
- Other operating charges +€1,952
up €1,952 (+13397.5%), from €15 to €1,967
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.
Cash bridge derived
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 | €67,998 | €92,103 | +€24,105 | +35.5% |
| Fixed assets | 21/28 | - | €10,254 | +€10,254 | |
| Tangible fixed assets | 22/27 | - | €10,254 | +€10,254 | |
| Furniture and vehicles | 24 | - | €10,254 | +€10,254 | |
| Current assets | 29/58 | €67,998 | €81,849 | +€13,851 | +20.4% |
| Amounts receivable within one year | 40/41 | €37,690 | €18,207 | -€19,482 | -51.7% |
| Trade receivables | 40 | €37,120 | €16,640 | -€20,480 | -55.2% |
| Other amounts receivable | 41 | €570 | €1,567 | +€998 | +175.1% |
| Cash at bank and in hand | 54/58 | €30,308 | €63,641 | +€33,333 | +110.0% |
| Total equity and liabilities | 10/49 | €67,998 | €92,103 | +€24,105 | +35.5% |
| Equity | 10/15 | €52,109 | €78,471 | +€26,362 | +50.6% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | - | €74,971 | +€74,971 | |
| Distributable reserves | 133 | - | €74,971 | +€74,971 | |
| Profit (loss) carried forward | 14 | €48,609 | €0 | -€48,609 | -100.0% |
| Amounts payable | 17/49 | €15,889 | €13,632 | -€2,256 | -14.2% |
| Amounts payable within one year | 42/48 | €15,889 | €13,632 | -€2,256 | -14.2% |
| Trade debts | 44 | €1,273 | €774 | -€498 | -39.2% |
| Suppliers | 440/4 | €1,273 | €774 | -€498 | -39.2% |
| Taxes, remuneration and social security | 45 | €12,717 | €7,780 | -€4,936 | -38.8% |
| Taxes | 450/3 | €12,717 | €7,780 | -€4,936 | -38.8% |
| Other amounts payable | 47/48 | €1,899 | €5,078 | +€3,179 | +167.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124 | €655 | +€531 | +429.5% |
| Other operating charges | 640/8 | €15 | €1,967 | +€1,952 | +13397.5% |
| Gross operating margin | 9900 | €61,690 | €36,900 | -€24,790 | -40.2% |
| Operating profit (loss) | 9901 | €61,552 | €34,278 | -€27,274 | -44.3% |
| Financial income | 75/76B | €1 | €84 | +€83 | +16614.0% |
| Recurring financial income | 75 | €1 | €84 | +€83 | +16614.0% |
| Financial charges | 65/66B | €241 | €245 | +€4 | +1.6% |
| Recurring financial charges | 65 | €241 | €245 | +€4 | +1.6% |
| Profit (loss) for the period before taxes | 9903 | €61,311 | €34,117 | -€27,194 | -44.4% |
| Income taxes | 67/77 | €12,702 | €7,755 | -€4,947 | -38.9% |
| Profit (loss) for the period | 9904 | €48,609 | €26,362 | -€22,248 | -45.8% |
| Profit (loss) for the period to be appropriated | 9905 | €48,609 | €26,362 | -€22,248 | -45.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.