BLUE COM: 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 COM
Largest movements
- Cash +€420,391
up €420,391 (+230%), from €182,828 to €603,218
mainly Net result for the year (+€217,034) and Trade debts (+€92,057)
- Financial fixed assets -€96,518
down €96,518 (-37.3%), from €258,492 to €161,974
- Receivables within one year -€72,544
down €72,544 (-9.1%), from €794,139 to €721,595
of which Trade receivables: -€202,422
- Deferred charges and accrued income +€32,587
up €32,587 (+322%), from €10,130 to €42,717
- Stocks and contracts +€27,782
up €27,782 (+72.6%), from €38,265 to €66,048
- Reserves +€217,034
up €217,034 (+29.3%), from €741,144 to €958,178
of which Distributable reserves: +€217,034
- Trade debts +€92,057
up €92,057 (+19.1%), from €481,832 to €573,889
- Tax, wage and social debts -€29,322
down €29,322 (-100.0%), from €29,324 to €2
of which Taxes: -€29,219
- Debts after one year +€25,558
new in 2025: €25,558
- Current portion of long-term debt +€20,174
up €20,174 (+15.6%), from €129,044 to €149,217
- Gross operating margin +€25,439
up €25,439 (+7.5%), from €337,666 to €363,105
- Financial charges +€7,631
up €7,631 (+148%), from €5,168 to €12,799
- Depreciation +€5,257
up €5,257 (+21.4%), from €24,606 to €29,863
- Taxes +€5,126
up €5,126 (+5.5%), from €92,925 to €98,051
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 | €1,387,918 | €1,714,049 | +€326,131 | +23.5% |
| Fixed assets | 21/28 | €362,556 | €280,470 | -€82,086 | -22.6% |
| Intangible fixed assets | 21 | €732 | €366 | -€366 | -50.0% |
| Tangible fixed assets | 22/27 | €103,332 | €118,131 | +€14,799 | +14.3% |
| Land and buildings | 22 | €47,762 | €43,254 | -€4,508 | -9.4% |
| Plant, machinery and equipment | 23 | €2,249 | €1,658 | -€591 | -26.3% |
| Furniture and vehicles | 24 | €53,321 | €73,219 | +€19,898 | +37.3% |
| Financial fixed assets | 28 | €258,492 | €161,974 | -€96,518 | -37.3% |
| Current assets | 29/58 | €1,025,362 | €1,433,578 | +€408,216 | +39.8% |
| Stocks and contracts in progress | 3 | €38,265 | €66,048 | +€27,782 | +72.6% |
| Stocks | 30/36 | €38,265 | €66,048 | +€27,782 | +72.6% |
| Amounts receivable within one year | 40/41 | €794,139 | €721,595 | -€72,544 | -9.1% |
| Trade receivables | 40 | €319,829 | €117,407 | -€202,422 | -63.3% |
| Other amounts receivable | 41 | €474,310 | €604,188 | +€129,878 | +27.4% |
| Cash at bank and in hand | 54/58 | €182,828 | €603,218 | +€420,391 | +230% |
| Deferred charges and accrued income | 490/1 | €10,130 | €42,717 | +€32,587 | +322% |
| Total equity and liabilities | 10/49 | €1,387,918 | €1,714,049 | +€326,131 | +23.5% |
| Equity | 10/15 | €747,344 | €964,378 | +€217,034 | +29.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €741,144 | €958,178 | +€217,034 | +29.3% |
| Tax-exempt reserves | 132 | €6,569 | €6,569 | = | 0.0% |
| Distributable reserves | 133 | €734,574 | €951,609 | +€217,034 | +29.5% |
| Amounts payable | 17/49 | €640,574 | €749,671 | +€109,096 | +17.0% |
| Amounts payable after more than one year | 17 | - | €25,558 | +€25,558 | |
| Financial debts | 170/4 | - | €25,558 | +€25,558 | |
| Amounts payable within one year | 42/48 | €640,200 | €723,458 | +€83,258 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €129,044 | €149,217 | +€20,174 | +15.6% |
| Trade debts | 44 | €481,832 | €573,889 | +€92,057 | +19.1% |
| Suppliers | 440/4 | €481,832 | €573,889 | +€92,057 | +19.1% |
| Advances received on contracts in progress | 46 | - | €350 | +€350 | |
| Taxes, remuneration and social security | 45 | €29,324 | €2 | -€29,322 | -100.0% |
| Taxes | 450/3 | €29,221 | €2 | -€29,219 | -100.0% |
| Remuneration and social security | 454/9 | €103 | - | -€103 | |
| Accrued charges and deferred income | 492/3 | €374 | €654 | +€280 | +74.9% |
| Remuneration, social security and pensions | 62 | €3,464 | €1,923 | -€1,540 | -44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,606 | €29,863 | +€5,257 | +21.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,052 | - | -€1,052 | |
| Other operating charges | 640/8 | €6,642 | €4,054 | -€2,588 | -39.0% |
| Gross operating margin | 9900 | €337,666 | €363,105 | +€25,439 | +7.5% |
| Operating profit (loss) | 9901 | €301,902 | €327,264 | +€25,363 | +8.4% |
| Financial income | 75/76B | €284 | €620 | +€336 | +118% |
| Recurring financial income | 75 | €284 | €620 | +€336 | +118% |
| Financial charges | 65/66B | €5,168 | €12,799 | +€7,631 | +148% |
| Recurring financial charges | 65 | €5,168 | €12,799 | +€7,631 | +148% |
| Profit (loss) for the period before taxes | 9903 | €297,018 | €315,085 | +€18,067 | +6.1% |
| Income taxes | 67/77 | €92,925 | €98,051 | +€5,126 | +5.5% |
| Profit (loss) for the period | 9904 | €204,093 | €217,034 | +€12,941 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €204,093 | €217,034 | +€12,941 | +6.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.