Blue Dolphin Logistics: 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 Dolphin Logistics
Largest movements
- Receivables within one year -€88,728
down €88,728 (-78.2%), from €113,482 to €24,754
of which Trade receivables: -€77,152
- Tangible fixed assets -€57,465
down €57,465 (-87.0%), from €66,031 to €8,566
of which Other tangible fixed assets: -€35,276
- Cash +€2,448
up €2,448 (+281%), from €871 to €3,319
mainly Other debts (+€153,332) and Receivables within one year (+€88,728)
- Other debts +€153,332
up €153,332 (+11,486%), from €1,335 to €154,667
- Debts after one year -€141,171
down €141,171 (-58.0%), from €243,476 to €102,305
- Trade debts -€51,451
down €51,451 (-76.3%), from €67,451 to €16,000
- Short-term financial debts -€49,989
down €49,989 (-100%), from €49,989 to €0
- Profit (loss) carried forward -€43,073
down €43,073 (-17.5%), from -€246,604 to -€289,677
- Gross operating margin -€78,808
down €78,808 (-71.2%), from €110,633 to €31,825
- Depreciation -€38,352
down €38,352 (-76.6%), from €50,077 to €11,725
- Staff costs -€27,754
down €27,754 (-100%), from €27,754 to €0
- Write-downs -€23,641
down €23,641 (-100%), from €23,641 to €0
- Financial income +€1,425
up €1,425 (+23,791%), from €6 to €1,431
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 | €192,960 | €51,327 | -€141,633 | -73.4% |
| Fixed assets | 21/28 | €68,527 | €12,300 | -€56,226 | -82.1% |
| Intangible fixed assets | 21 | €611 | €0 | -€611 | -100% |
| Tangible fixed assets | 22/27 | €66,031 | €8,566 | -€57,465 | -87.0% |
| Plant, machinery and equipment | 23 | €9,007 | €2,033 | -€6,974 | -77.4% |
| Furniture and vehicles | 24 | €16,575 | €1,360 | -€15,215 | -91.8% |
| Other tangible fixed assets | 26 | €40,449 | €5,173 | -€35,276 | -87.2% |
| Financial fixed assets | 28 | €1,885 | €3,735 | +€1,850 | +98.2% |
| Current assets | 29/58 | €124,434 | €39,027 | -€85,407 | -68.6% |
| Stocks and contracts in progress | 3 | €8,450 | €9,725 | +€1,275 | +15.1% |
| Stocks | 30/36 | €8,450 | €9,725 | +€1,275 | +15.1% |
| Amounts receivable within one year | 40/41 | €113,482 | €24,754 | -€88,728 | -78.2% |
| Trade receivables | 40 | €101,046 | €23,893 | -€77,152 | -76.4% |
| Other amounts receivable | 41 | €12,436 | €861 | -€11,575 | -93.1% |
| Cash at bank and in hand | 54/58 | €871 | €3,319 | +€2,448 | +281% |
| Deferred charges and accrued income | 490/1 | €1,631 | €1,229 | -€402 | -24.7% |
| Total equity and liabilities | 10/49 | €192,960 | €51,327 | -€141,633 | -73.4% |
| Equity | 10/15 | -€237,604 | -€280,677 | -€43,073 | -18.1% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€246,604 | -€289,677 | -€43,073 | -17.5% |
| Amounts payable | 17/49 | €430,564 | €332,004 | -€98,560 | -22.9% |
| Amounts payable after more than one year | 17 | €243,476 | €102,305 | -€141,171 | -58.0% |
| Financial debts | 170/4 | €243,476 | €102,305 | -€141,171 | -58.0% |
| Amounts payable within one year | 42/48 | €184,761 | €229,699 | +€44,938 | +24.3% |
| Current portion of amounts payable after more than one year | 42 | €35,832 | €46,225 | +€10,393 | +29.0% |
| Financial debts | 43 | €49,989 | €0 | -€49,989 | -100% |
| Credit institutions | 430/8 | €49,989 | €0 | -€49,989 | -100% |
| Trade debts | 44 | €67,451 | €16,000 | -€51,451 | -76.3% |
| Suppliers | 440/4 | €67,451 | €16,000 | -€51,451 | -76.3% |
| Taxes, remuneration and social security | 45 | €30,153 | €12,807 | -€17,346 | -57.5% |
| Taxes | 450/3 | €30,153 | €11,827 | -€18,326 | -60.8% |
| Remuneration and social security | 454/9 | €0 | €980 | +€980 | |
| Other amounts payable | 47/48 | €1,335 | €154,667 | +€153,332 | +11,486% |
| Accrued charges and deferred income | 492/3 | €2,327 | €0 | -€2,327 | -100% |
| Non-recurring operating income | 76A | - | €71,530 | +€71,530 | |
| Remuneration, social security and pensions | 62 | €27,754 | €0 | -€27,754 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,077 | €11,725 | -€38,352 | -76.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €23,641 | €0 | -€23,641 | -100% |
| Other operating charges | 640/8 | €4,970 | €6,138 | +€1,167 | +23.5% |
| Non-recurring operating charges | 66A | - | €42,118 | +€42,118 | |
| Gross operating margin | 9900 | €110,633 | €31,825 | -€78,808 | -71.2% |
| Operating profit (loss) | 9901 | €4,190 | -€28,155 | -€32,345 | |
| Financial income | 75/76B | €6 | €1,431 | +€1,425 | +23,791% |
| Recurring financial income | 75 | €6 | €1,431 | +€1,425 | +23,791% |
| Financial charges | 65/66B | €15,045 | €16,078 | +€1,033 | +6.9% |
| Recurring financial charges | 65 | €15,045 | €16,078 | +€1,033 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | -€10,849 | -€42,802 | -€31,953 | -295% |
| Income taxes | 67/77 | €299 | €271 | -€28 | -9.4% |
| Profit (loss) for the period | 9904 | -€11,148 | -€43,073 | -€31,925 | -286% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,148 | -€43,073 | -€31,925 | -286% |
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.