Blue Eyes: 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 Eyes
Largest movements
- Cash -€46,198
down €46,198 (-50.9%), from €90,833 to €44,634
mainly Contributions, distributions and other (-€96,408) and Deferred charges and accrued income (-€3,633)
- Receivables within one year -€15,171
down €15,171 (-99.6%), from €15,228 to €57
of which Trade receivables: -€15,178
- Deferred charges and accrued income +€3,633
up €3,633 (+224%), from €1,625 to €5,258
- Tangible fixed assets -€2,286
down €2,286 (-7.9%), from €28,948 to €26,663
of which Other tangible fixed assets: -€2,424
- Profit (loss) carried forward -€59,842
down €59,842 (-62.1%), from €96,408 to €36,566
- Tax, wage and social debts -€3,462
down €3,462 (-67.6%), from €5,122 to €1,660
- Trade debts +€1,939
up €1,939 (+250%), from €775 to €2,714
- Gross operating margin +€15,910
up €15,910 (+36.3%), from €43,847 to €59,757
- Depreciation -€8,880
down €8,880 (-65.3%), from €13,602 to €4,722
- Taxes +€2,655
up €2,655 (+23.7%), from €11,186 to €13,841
- Financial charges +€1,536
up €1,536 (+67.9%), from €2,264 to €3,800
- Other operating charges -€1,409
down €1,409 (-62.9%), from €2,242 to €833
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 | €136,664 | €76,641 | -€60,023 | -43.9% |
| Fixed assets | 21/28 | €28,978 | €26,693 | -€2,286 | -7.9% |
| Tangible fixed assets | 22/27 | €28,948 | €26,663 | -€2,286 | -7.9% |
| Plant, machinery and equipment | 23 | €1,795 | €2,978 | +€1,183 | +65.9% |
| Furniture and vehicles | 24 | €3,376 | €2,332 | -€1,045 | -30.9% |
| Other tangible fixed assets | 26 | €23,777 | €21,353 | -€2,424 | -10.2% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €107,686 | €49,949 | -€57,737 | -53.6% |
| Amounts receivable within one year | 40/41 | €15,228 | €57 | -€15,171 | -99.6% |
| Trade receivables | 40 | €15,186 | €8 | -€15,178 | -99.9% |
| Other amounts receivable | 41 | €42 | €49 | +€7 | +16.1% |
| Cash at bank and in hand | 54/58 | €90,833 | €44,634 | -€46,198 | -50.9% |
| Deferred charges and accrued income | 490/1 | €1,625 | €5,258 | +€3,633 | +224% |
| Total equity and liabilities | 10/49 | €136,664 | €76,641 | -€60,023 | -43.9% |
| Equity | 10/15 | €129,561 | €69,720 | -€59,842 | -46.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,554 | €14,554 | = | 0.0% |
| Distributable reserves | 133 | €14,554 | €14,554 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,408 | €36,566 | -€59,842 | -62.1% |
| Amounts payable | 17/49 | €7,103 | €6,922 | -€181 | -2.5% |
| Amounts payable within one year | 42/48 | €7,103 | €5,588 | -€1,515 | -21.3% |
| Trade debts | 44 | €775 | €2,714 | +€1,939 | +250% |
| Suppliers | 440/4 | €775 | €2,714 | +€1,939 | +250% |
| Taxes, remuneration and social security | 45 | €5,122 | €1,660 | -€3,462 | -67.6% |
| Taxes | 450/3 | €5,122 | €1,660 | -€3,462 | -67.6% |
| Other amounts payable | 47/48 | €1,206 | €1,214 | +€8 | +0.7% |
| Accrued charges and deferred income | 492/3 | - | €1,334 | +€1,334 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,602 | €4,722 | -€8,880 | -65.3% |
| Other operating charges | 640/8 | €2,242 | €833 | -€1,409 | -62.9% |
| Gross operating margin | 9900 | €43,847 | €59,757 | +€15,910 | +36.3% |
| Operating profit (loss) | 9901 | €28,003 | €54,202 | +€26,199 | +93.6% |
| Financial income | 75/76B | €0 | €4 | +€4 | +14,667% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +14,667% |
| Financial charges | 65/66B | €2,264 | €3,800 | +€1,536 | +67.9% |
| Recurring financial charges | 65 | €2,264 | €3,800 | +€1,536 | +67.9% |
| Profit (loss) for the period before taxes | 9903 | €25,739 | €50,406 | +€24,667 | +95.8% |
| Income taxes | 67/77 | €11,186 | €13,841 | +€2,655 | +23.7% |
| Profit (loss) for the period | 9904 | €14,554 | €36,566 | +€22,012 | +151% |
| Profit (loss) for the period to be appropriated | 9905 | €14,554 | €36,566 | +€22,012 | +151% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.