BLUE EXPERIENCE: 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 EXPERIENCE
Largest movements
- Tangible fixed assets +€65,012
up €65,012 (+38.0%), from €171,197 to €236,209
of which Furniture and vehicles: +€40,367
- Intangible fixed assets +€52,266
new in 2025: €52,266
- Receivables within one year -€37,252
down €37,252 (-26.1%), from €142,682 to €105,430
of which Trade receivables: -€30,904
- Deferred charges and accrued income +€17,543
up €17,543 (+173.8%), from €10,095 to €27,638
- Cash -€13,778
down €13,778 (-30.4%), from €45,301 to €31,523
mainly Investment in fixed assets (net) (-€159,145) and Current portion of long-term debt (-€39,162)
- Short-term financial debts +€158,000
up €158,000 (+303.8%), from €52,000 to €210,000
- Current portion of long-term debt -€39,162
down €39,162 (-37.2%), from €105,269 to €66,107
- Reserves -€28,430
no longer reported in 2025 (was €28,430)
- Profit (loss) carried forward -€9,116
new in 2025: -€9,116
- Trade debts +€8,315
up €8,315 (+5.1%), from €164,459 to €172,774
- Staff costs +€131,200
up €131,200 (+75.5%), from €173,878 to €305,078
- Gross operating margin +€97,699
up €97,699 (+42.1%), from €232,185 to €329,884
- Depreciation +€4,104
up €4,104 (+10.9%), from €37,763 to €41,867
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 | €422,588 | €515,840 | +€93,252 | +22.1% |
| Fixed assets | 21/28 | €171,507 | €288,785 | +€117,278 | +68.4% |
| Intangible fixed assets | 21 | - | €52,266 | +€52,266 | |
| Tangible fixed assets | 22/27 | €171,197 | €236,209 | +€65,012 | +38.0% |
| Furniture and vehicles | 24 | €168,035 | €208,402 | +€40,367 | +24.0% |
| Leasing and similar rights | 25 | - | €25,442 | +€25,442 | |
| Other tangible fixed assets | 26 | €3,162 | €2,365 | -€797 | -25.2% |
| Financial fixed assets | 28 | €310 | €310 | = | 0.0% |
| Current assets | 29/58 | €251,081 | €227,055 | -€24,026 | -9.6% |
| Stocks and contracts in progress | 3 | €53,003 | €62,464 | +€9,461 | +17.8% |
| Stocks | 30/36 | €53,003 | €62,464 | +€9,461 | +17.8% |
| Amounts receivable within one year | 40/41 | €142,682 | €105,430 | -€37,252 | -26.1% |
| Trade receivables | 40 | €116,701 | €85,797 | -€30,904 | -26.5% |
| Other amounts receivable | 41 | €25,981 | €19,633 | -€6,348 | -24.4% |
| Cash at bank and in hand | 54/58 | €45,301 | €31,523 | -€13,778 | -30.4% |
| Deferred charges and accrued income | 490/1 | €10,095 | €27,638 | +€17,543 | +173.8% |
| Total equity and liabilities | 10/49 | €422,588 | €515,840 | +€93,252 | +22.1% |
| Equity | 10/15 | €47,030 | €9,484 | -€37,546 | -79.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,430 | - | -€28,430 | |
| Distributable reserves | 133 | €28,430 | - | -€28,430 | |
| Profit (loss) carried forward | 14 | - | -€9,116 | -€9,116 | |
| Amounts payable | 17/49 | €375,558 | €506,356 | +€130,798 | +34.8% |
| Amounts payable after more than one year | 17 | €41,108 | €47,100 | +€5,992 | +14.6% |
| Financial debts | 170/4 | €41,108 | €47,100 | +€5,992 | +14.6% |
| Amounts payable within one year | 42/48 | €333,358 | €457,924 | +€124,566 | +37.4% |
| Current portion of amounts payable after more than one year | 42 | €105,269 | €66,107 | -€39,162 | -37.2% |
| Financial debts | 43 | €52,000 | €210,000 | +€158,000 | +303.8% |
| Credit institutions | 430/8 | €52,000 | €210,000 | +€158,000 | +303.8% |
| Trade debts | 44 | €164,459 | €172,774 | +€8,315 | +5.1% |
| Suppliers | 440/4 | €164,459 | €172,774 | +€8,315 | +5.1% |
| Advances received on contracts in progress | 46 | €822 | €3,791 | +€2,969 | +361.2% |
| Taxes, remuneration and social security | 45 | €10,808 | €4,982 | -€5,826 | -53.9% |
| Taxes | 450/3 | €3,048 | €1,603 | -€1,445 | -47.4% |
| Remuneration and social security | 454/9 | €7,760 | €3,379 | -€4,381 | -56.5% |
| Other amounts payable | 47/48 | - | €270 | +€270 | |
| Accrued charges and deferred income | 492/3 | €1,092 | €1,332 | +€240 | +22.0% |
| Non-recurring operating income | 76A | €1,554 | €10,391 | +€8,837 | +568.7% |
| Remuneration, social security and pensions | 62 | €173,878 | €305,078 | +€131,200 | +75.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,763 | €41,867 | +€4,104 | +10.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €591 | - | -€591 | |
| Other operating charges | 640/8 | €2,013 | €3,610 | +€1,597 | +79.3% |
| Non-recurring operating charges | 66A | - | €236 | +€236 | |
| Gross operating margin | 9900 | €232,185 | €329,884 | +€97,699 | +42.1% |
| Operating profit (loss) | 9901 | €17,940 | -€20,907 | -€38,847 | |
| Financial income | 75/76B | €228 | €39 | -€189 | -82.9% |
| Recurring financial income | 75 | €228 | €39 | -€189 | -82.9% |
| Financial charges | 65/66B | €16,658 | €16,349 | -€309 | -1.9% |
| Recurring financial charges | 65 | €16,658 | €16,349 | -€309 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €1,510 | -€37,217 | -€38,727 | |
| Income taxes | 67/77 | €1,175 | €329 | -€846 | -72.0% |
| Profit (loss) for the period | 9904 | €335 | -€37,546 | -€37,881 | |
| Profit (loss) for the period to be appropriated | 9905 | €335 | -€37,546 | -€37,881 |
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 11 October 2026 via checked.be.