BLUE CONCEPT: 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 CONCEPT
Largest movements
- Tangible fixed assets -€31,988
down €31,988 (-19.1%), from €167,207 to €135,220
of which Land and buildings: -€19,200
- Cash +€4,004
up €4,004 (+2398.1%), from €167 to €4,171
mainly Other debts (+€86,508) and Depreciation (+€27,768)
- Other debts +€86,508
up €86,508 (+619.1%), from €13,974 to €100,482
- Short-term financial debts -€55,457
down €55,457 (-99.8%), from €55,544 to €87
- Debts after one year -€38,163
down €38,163 (-8.4%), from €456,536 to €418,373
- Profit (loss) carried forward -€21,285
down €21,285 (-10.5%), from -€203,517 to -€224,801
- Trade debts -€4,580
down €4,580 (-86.4%), from €5,300 to €720
- Financial charges -€15,148
down €15,148 (-49.7%), from €30,449 to €15,301
- Gross operating margin -€9,751
down €9,751 (-27.4%), from €35,568 to €25,816
- Other operating charges -€1,040
down €1,040 (-22.0%), from €4,717 to €3,677
- Depreciation -€623
down €623 (-2.2%), from €28,391 to €27,768
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 | €390,016 | €358,787 | -€31,229 | -8.0% |
| Fixed assets | 21/28 | €167,207 | €135,220 | -€31,988 | -19.1% |
| Tangible fixed assets | 22/27 | €167,207 | €135,220 | -€31,988 | -19.1% |
| Land and buildings | 22 | €153,600 | €134,400 | -€19,200 | -12.5% |
| Furniture and vehicles | 24 | €11,671 | €333 | -€11,339 | -97.1% |
| Other tangible fixed assets | 26 | €1,936 | €487 | -€1,449 | -74.9% |
| Current assets | 29/58 | €222,809 | €223,567 | +€758 | +0.3% |
| Stocks and contracts in progress | 3 | €220,424 | €219,000 | -€1,424 | -0.6% |
| Stocks | 30/36 | €220,424 | €219,000 | -€1,424 | -0.6% |
| Amounts receivable within one year | 40/41 | €789 | €0 | -€789 | -100.0% |
| Trade receivables | 40 | €782 | €0 | -€782 | -100.0% |
| Other amounts receivable | 41 | €6 | €0 | -€6 | -100.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €167 | €4,171 | +€4,004 | +2398.1% |
| Deferred charges and accrued income | 490/1 | €1,429 | €396 | -€1,033 | -72.3% |
| Total equity and liabilities | 10/49 | €390,016 | €358,787 | -€31,229 | -8.0% |
| Equity | 10/15 | -€184,548 | -€205,833 | -€21,285 | -11.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €369 | €369 | = | 0.0% |
| Non-distributable reserves | 130/1 | €369 | €369 | = | 0.0% |
| Reserves not available under the articles | 1311 | €369 | €369 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€203,517 | -€224,801 | -€21,285 | -10.5% |
| Amounts payable | 17/49 | €574,564 | €564,619 | -€9,945 | -1.7% |
| Amounts payable after more than one year | 17 | €456,536 | €418,373 | -€38,163 | -8.4% |
| Financial debts | 170/4 | €456,536 | €418,373 | -€38,163 | -8.4% |
| Amounts payable within one year | 42/48 | €118,028 | €146,246 | +€28,218 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €37,613 | €38,163 | +€550 | +1.5% |
| Financial debts | 43 | €55,544 | €87 | -€55,457 | -99.8% |
| Credit institutions | 430/8 | €55,544 | €87 | -€55,457 | -99.8% |
| Trade debts | 44 | €5,300 | €720 | -€4,580 | -86.4% |
| Suppliers | 440/4 | €5,300 | €720 | -€4,580 | -86.4% |
| Advances received on contracts in progress | 46 | - | €333 | +€333 | |
| Taxes, remuneration and social security | 45 | €5,598 | €6,462 | +€864 | +15.4% |
| Taxes | 450/3 | €5,598 | €6,462 | +€864 | +15.4% |
| Other amounts payable | 47/48 | €13,974 | €100,482 | +€86,508 | +619.1% |
| Non-recurring operating income | 76A | €0 | €3,899 | +€3,899 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,391 | €27,768 | -€623 | -2.2% |
| Other operating charges | 640/8 | €4,717 | €3,677 | -€1,040 | -22.0% |
| Gross operating margin | 9900 | €35,568 | €25,816 | -€9,751 | -27.4% |
| Operating profit (loss) | 9901 | €2,459 | -€5,629 | -€8,089 | |
| Financial income | 75/76B | €4 | €84 | +€80 | +2032.7% |
| Recurring financial income | 75 | €4 | €84 | +€80 | +2032.7% |
| Financial charges | 65/66B | €30,449 | €15,301 | -€15,148 | -49.7% |
| Recurring financial charges | 65 | €30,449 | €15,301 | -€15,148 | -49.7% |
| Profit (loss) for the period before taxes | 9903 | -€27,986 | -€20,846 | +€7,140 | +25.5% |
| Income taxes | 67/77 | €443 | €439 | -€5 | -1.1% |
| Profit (loss) for the period | 9904 | -€28,429 | -€21,285 | +€7,144 | +25.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,429 | -€21,285 | +€7,144 | +25.1% |
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 9 October 2026 via checked.be.