Blue Earth Explorers: 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 Earth Explorers
Largest movements
- Tangible fixed assets -€13,571
down €13,571 (-20.9%), from €64,837 to €51,266
of which Plant, machinery and equipment: -€14,498
- Cash -€12,754
down €12,754 (-44.7%), from €28,532 to €15,778
mainly Net result for the year (-€23,895) and Accrued charges and deferred income (-€10,018)
- Stocks and contracts -€10,502
down €10,502 (-10.9%), from €95,970 to €85,468
- Receivables within one year -€8,472
down €8,472 (-67.4%), from €12,561 to €4,089
of which Trade receivables: -€8,102
- Profit (loss) carried forward -€23,895
down €23,895 (-31.8%), from -€75,219 to -€99,114
- Accrued charges and deferred income -€10,018
no longer reported in 2025 (was €10,018)
- Debts after one year -€6,000
down €6,000 (-2.5%), from €240,000 to €234,000
- Other debts -€4,119
down €4,119 (-93.9%), from €4,387 to €269
- Depreciation +€5,186
up €5,186 (+30.9%), from €16,787 to €21,973
- Gross operating margin +€3,021
up €3,021, from -€2,258 to €763
- Financial income -€2,500
no longer reported in 2025 (was €2,500)
- Other operating charges -€333
down €333 (-15.4%), from €2,167 to €1,833
- Taxes +€276
new in 2025: €276
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 | €202,972 | €158,406 | -€44,566 | -22.0% |
| Fixed assets | 21/28 | €64,837 | €51,266 | -€13,571 | -20.9% |
| Tangible fixed assets | 22/27 | €64,837 | €51,266 | -€13,571 | -20.9% |
| Plant, machinery and equipment | 23 | €40,235 | €25,737 | -€14,498 | -36.0% |
| Furniture and vehicles | 24 | €6,927 | €9,448 | +€2,520 | +36.4% |
| Other tangible fixed assets | 26 | €17,674 | €16,081 | -€1,593 | -9.0% |
| Current assets | 29/58 | €138,135 | €107,140 | -€30,995 | -22.4% |
| Stocks and contracts in progress | 3 | €95,970 | €85,468 | -€10,502 | -10.9% |
| Stocks | 30/36 | €95,970 | €85,468 | -€10,502 | -10.9% |
| Amounts receivable within one year | 40/41 | €12,561 | €4,089 | -€8,472 | -67.4% |
| Trade receivables | 40 | €11,167 | €3,065 | -€8,102 | -72.6% |
| Other amounts receivable | 41 | €1,393 | €1,024 | -€369 | -26.5% |
| Cash at bank and in hand | 54/58 | €28,532 | €15,778 | -€12,754 | -44.7% |
| Deferred charges and accrued income | 490/1 | €1,072 | €1,805 | +€733 | +68.3% |
| Total equity and liabilities | 10/49 | €202,972 | €158,406 | -€44,566 | -22.0% |
| Equity | 10/15 | -€53,219 | -€77,114 | -€23,895 | -44.9% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,219 | -€99,114 | -€23,895 | -31.8% |
| Amounts payable | 17/49 | €256,191 | €235,520 | -€20,671 | -8.1% |
| Amounts payable after more than one year | 17 | €240,000 | €234,000 | -€6,000 | -2.5% |
| Financial debts | 170/4 | €240,000 | €234,000 | -€6,000 | -2.5% |
| Amounts payable within one year | 42/48 | €6,173 | €1,520 | -€4,653 | -75.4% |
| Trade debts | 44 | €1,399 | €986 | -€413 | -29.5% |
| Suppliers | 440/4 | €1,399 | €986 | -€413 | -29.5% |
| Taxes, remuneration and social security | 45 | €386 | €265 | -€121 | -31.3% |
| Taxes | 450/3 | €386 | €265 | -€121 | -31.3% |
| Other amounts payable | 47/48 | €4,387 | €269 | -€4,119 | -93.9% |
| Accrued charges and deferred income | 492/3 | €10,018 | - | -€10,018 | |
| Non-recurring operating income | 76A | €3,700 | €2,120 | -€1,580 | -42.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,787 | €21,973 | +€5,186 | +30.9% |
| Other operating charges | 640/8 | €2,167 | €1,833 | -€333 | -15.4% |
| Non-recurring operating charges | 66A | €178 | - | -€178 | |
| Gross operating margin | 9900 | -€2,258 | €763 | +€3,021 | |
| Operating profit (loss) | 9901 | -€21,390 | -€23,044 | -€1,654 | -7.7% |
| Financial income | 75/76B | €2,500 | - | -€2,500 | |
| Recurring financial income | 75 | €2,500 | - | -€2,500 | |
| Financial charges | 65/66B | €355 | €576 | +€221 | +62.3% |
| Recurring financial charges | 65 | €355 | €576 | +€221 | +62.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,245 | -€23,619 | -€4,375 | -22.7% |
| Income taxes | 67/77 | - | €276 | +€276 | |
| Profit (loss) for the period | 9904 | -€19,245 | -€23,895 | -€4,650 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,245 | -€23,895 | -€4,650 | -24.2% |
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 28 October 2026 via checked.be.