Blue Factory: 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 Factory
Largest movements
- Cash +€406,602
up €406,602 (+132%), from €306,907 to €713,509
mainly Net result for the year (+€303,577) and Receivables within one year (+€116,477)
- Receivables within one year -€116,477
down €116,477 (-63.1%), from €184,647 to €68,171
of which Trade receivables: -€65,657
- Tangible fixed assets -€113,342
down €113,342 (-6.2%), from €1.8m to €1.7m
of which Land and buildings: -€62,493
- Reserves +€157,646
up €157,646 (+17.3%), from €909,510 to €1.1m
of which Distributable reserves: +€149,226
- Debts after one year -€68,272
down €68,272 (-9.7%), from €702,356 to €634,085
of which Financial debts: -€69,172
- Other debts +€59,419
up €59,419 (+364%), from €16,308 to €75,727
- Current portion of long-term debt +€29,005
up €29,005 (+37.3%), from €77,819 to €106,823
- Profit (loss) carried forward +€28,577
up €28,577 (+14.0%), from €204,232 to €232,809
- Gross operating margin +€148,392
up €148,392 (+26.3%), from €564,797 to €713,189
- Write-downs -€46,064
no longer reported in 2025 (was €46,064)
- Taxes +€36,172
up €36,172 (+60.1%), from €60,150 to €96,322
- Other operating charges -€11,511
down €11,511 (-43.5%), from €26,444 to €14,933
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 | €2,383,539 | €2,559,352 | +€175,813 | +7.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €1,823,408 | €1,710,065 | -€113,342 | -6.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,818,432 | €1,705,090 | -€113,342 | -6.2% |
| Land and buildings | 22 | €1,673,810 | €1,611,317 | -€62,493 | -3.7% |
| Plant, machinery and equipment | 23 | €80,549 | €69,469 | -€11,080 | -13.8% |
| Furniture and vehicles | 24 | €62,469 | €22,700 | -€39,769 | -63.7% |
| Other tangible fixed assets | 26 | €1,604 | €1,604 | = | 0.0% |
| Financial fixed assets | 28 | €4,975 | €4,975 | = | 0.0% |
| Current assets | 29/58 | €560,131 | €849,287 | +€289,155 | +51.6% |
| Stocks and contracts in progress | 3 | €32,000 | €42,000 | +€10,000 | +31.3% |
| Stocks | 30/36 | €32,000 | €42,000 | +€10,000 | +31.3% |
| Amounts receivable within one year | 40/41 | €184,647 | €68,171 | -€116,477 | -63.1% |
| Trade receivables | 40 | €130,147 | €64,490 | -€65,657 | -50.4% |
| Other amounts receivable | 41 | €54,500 | €3,680 | -€50,820 | -93.2% |
| Cash at bank and in hand | 54/58 | €306,907 | €713,509 | +€406,602 | +132% |
| Deferred charges and accrued income | 490/1 | €36,577 | €25,607 | -€10,970 | -30.0% |
| Total equity and liabilities | 10/49 | €2,383,539 | €2,559,352 | +€175,813 | +7.4% |
| Equity | 10/15 | €1,363,742 | €1,549,966 | +€186,223 | +13.7% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €909,510 | €1,067,156 | +€157,646 | +17.3% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €189,510 | €197,930 | +€8,420 | +4.4% |
| Distributable reserves | 133 | €695,000 | €844,226 | +€149,226 | +21.5% |
| Profit (loss) carried forward | 14 | €204,232 | €232,809 | +€28,577 | +14.0% |
| Amounts payable | 17/49 | €1,019,796 | €1,009,386 | -€10,410 | -1.0% |
| Amounts payable after more than one year | 17 | €702,356 | €634,085 | -€68,272 | -9.7% |
| Financial debts | 170/4 | €701,456 | €632,285 | -€69,172 | -9.9% |
| Other amounts payable | 178/9 | €900 | €1,800 | +€900 | +100% |
| Amounts payable within one year | 42/48 | €317,440 | €375,301 | +€57,861 | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €77,819 | €106,823 | +€29,005 | +37.3% |
| Trade debts | 44 | €81,643 | €55,225 | -€26,417 | -32.4% |
| Suppliers | 440/4 | €81,643 | €55,225 | -€26,417 | -32.4% |
| Taxes, remuneration and social security | 45 | €141,671 | €137,526 | -€4,145 | -2.9% |
| Taxes | 450/3 | €123,025 | €111,102 | -€11,923 | -9.7% |
| Remuneration and social security | 454/9 | €18,647 | €26,425 | +€7,778 | +41.7% |
| Other amounts payable | 47/48 | €16,308 | €75,727 | +€59,419 | +364% |
| Remuneration, social security and pensions | 62 | €144,418 | €147,393 | +€2,975 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €108,114 | €104,823 | -€3,291 | -3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €46,064 | - | -€46,064 | |
| Other operating charges | 640/8 | €26,444 | €14,933 | -€11,511 | -43.5% |
| Non-recurring operating charges | 66A | - | €23,084 | +€23,084 | |
| Gross operating margin | 9900 | €564,797 | €713,189 | +€148,392 | +26.3% |
| Operating profit (loss) | 9901 | €239,757 | €422,956 | +€183,199 | +76.4% |
| Financial income | 75/76B | €118 | €3,945 | +€3,827 | +3,234% |
| Recurring financial income | 75 | €118 | €3,945 | +€3,827 | +3,234% |
| Financial charges | 65/66B | €25,660 | €18,583 | -€7,077 | -27.6% |
| Recurring financial charges | 65 | €25,660 | €18,583 | -€7,077 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | €214,216 | €408,319 | +€194,103 | +90.6% |
| Transfer from deferred taxes | 780 | - | €130,510 | +€130,510 | |
| Transfer to deferred taxes | 680 | €59,000 | €138,930 | +€79,930 | +135% |
| Income taxes | 67/77 | €60,150 | €96,322 | +€36,172 | +60.1% |
| Profit (loss) for the period | 9904 | €95,066 | €303,577 | +€208,511 | +219% |
| Profit (loss) for the period to be appropriated | 9905 | €95,066 | €303,577 | +€208,511 | +219% |
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 27 October 2026 via checked.be.