BLUE EXPRESS: 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 EXPRESS
Largest movements
- Tangible fixed assets +€83,533
up €83,533 (+67.8%), from €123,181 to €206,714
of which Leasing and similar rights: +€82,800
- Receivables within one year +€11,530
up €11,530 (+14.4%), from €80,280 to €91,809
of which Trade receivables: +€7,905
- Profit (loss) carried forward -€70,597
down €70,597 (-71.9%), from €98,162 to €27,565
- Trade debts +€64,691
up €64,691 (+56.1%), from €115,387 to €180,078
- Debts after one year +€59,873
up €59,873 (+48.5%), from €123,346 to €183,219
- Tax, wage and social debts +€20,052
up €20,052 (+44.3%), from €45,314 to €65,367
of which Remuneration and social security: +€17,706
- Current portion of long-term debt +€15,484
up €15,484 (+30.2%), from €51,255 to €66,739
- Financial charges +€46,833
up €46,833 (+261.7%), from €17,896 to €64,728
- Gross operating margin -€23,514
down €23,514 (-9.0%), from €262,547 to €239,033
- Depreciation -€14,144
down €14,144 (-21.4%), from €66,199 to €52,054
- Staff costs -€13,153
down €13,153 (-7.4%), from €178,305 to €165,152
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €616,297 | €713,890 | +€97,594 | +15.8% |
| Fixed assets | 21/28 | €130,352 | €214,020 | +€83,668 | +64.2% |
| Tangible fixed assets | 22/27 | €123,181 | €206,714 | +€83,533 | +67.8% |
| Furniture and vehicles | 24 | €12,797 | €14,351 | +€1,554 | +12.1% |
| Leasing and similar rights | 25 | €107,946 | €190,747 | +€82,800 | +76.7% |
| Other tangible fixed assets | 26 | €2,438 | €1,616 | -€822 | -33.7% |
| Financial fixed assets | 28 | €7,171 | €7,306 | +€135 | +1.9% |
| Current assets | 29/58 | €485,945 | €499,870 | +€13,925 | +2.9% |
| Amounts receivable after more than one year | 29 | €400,000 | €400,000 | = | 0.0% |
| Other amounts receivable | 291 | €400,000 | €400,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €80,280 | €91,809 | +€11,530 | +14.4% |
| Trade receivables | 40 | €69,850 | €77,755 | +€7,905 | +11.3% |
| Other amounts receivable | 41 | €10,429 | €14,054 | +€3,625 | +34.8% |
| Cash at bank and in hand | 54/58 | €22 | €84 | +€62 | +275.2% |
| Deferred charges and accrued income | 490/1 | €5,643 | €7,977 | +€2,334 | +41.4% |
| Total equity and liabilities | 10/49 | €616,297 | €713,890 | +€97,594 | +15.8% |
| Equity | 10/15 | €227,686 | €157,089 | -€70,597 | -31.0% |
| Contributions | 10/11 | €117,749 | €117,749 | = | 0.0% |
| Reserves | 13 | €11,775 | €11,775 | = | 0.0% |
| Non-distributable reserves | 130/1 | €11,775 | €11,775 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,775 | €11,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,162 | €27,565 | -€70,597 | -71.9% |
| Amounts payable | 17/49 | €388,610 | €556,801 | +€168,191 | +43.3% |
| Amounts payable after more than one year | 17 | €123,346 | €183,219 | +€59,873 | +48.5% |
| Financial debts | 170/4 | €123,346 | €183,219 | +€59,873 | +48.5% |
| Amounts payable within one year | 42/48 | €262,955 | €368,787 | +€105,833 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €51,255 | €66,739 | +€15,484 | +30.2% |
| Financial debts | 43 | €42,757 | €56,604 | +€13,846 | +32.4% |
| Credit institutions | 430/8 | €42,757 | €56,604 | +€13,846 | +32.4% |
| Trade debts | 44 | €115,387 | €180,078 | +€64,691 | +56.1% |
| Suppliers | 440/4 | €115,387 | €180,078 | +€64,691 | +56.1% |
| Taxes, remuneration and social security | 45 | €45,314 | €65,367 | +€20,052 | +44.3% |
| Taxes | 450/3 | €14,013 | €16,359 | +€2,346 | +16.7% |
| Remuneration and social security | 454/9 | €31,302 | €49,008 | +€17,706 | +56.6% |
| Other amounts payable | 47/48 | €8,241 | - | -€8,241 | |
| Accrued charges and deferred income | 492/3 | €2,310 | €4,795 | +€2,485 | +107.6% |
| Remuneration, social security and pensions | 62 | €178,305 | €165,152 | -€13,153 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,199 | €52,054 | -€14,144 | -21.4% |
| Other operating charges | 640/8 | €28,072 | €27,201 | -€870 | -3.1% |
| Gross operating margin | 9900 | €262,547 | €239,033 | -€23,514 | -9.0% |
| Operating profit (loss) | 9901 | -€10,028 | -€5,374 | +€4,654 | +46.4% |
| Financial income | 75/76B | €29 | €508 | +€479 | +1658.7% |
| Recurring financial income | 75 | €29 | €508 | +€479 | +1658.7% |
| Financial charges | 65/66B | €17,896 | €64,728 | +€46,833 | +261.7% |
| Recurring financial charges | 65 | €17,896 | €64,728 | +€46,833 | +261.7% |
| Profit (loss) for the period before taxes | 9903 | -€27,895 | -€69,595 | -€41,700 | -149.5% |
| Income taxes | 67/77 | €1,084 | €1,003 | -€82 | -7.5% |
| Profit (loss) for the period | 9904 | -€28,979 | -€70,597 | -€41,618 | -143.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,979 | -€70,597 | -€41,618 | -143.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.