Blue Fenix: what changed
Two fiscal 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 Fenix
Largest movements
- Tangible fixed assets +€8,956
up €8,956 (+248.9%), from €3,599 to €12,555
of which Plant, machinery and equipment: +€9,034
- Receivables after one year +€5,250
new in 2025: €5,250
- Cash +€1,330
up €1,330 (+3.5%), from €37,844 to €39,174
mainly Net result for the year (+€16,034) and Depreciation (+€1,575)
- Profit (loss) carried forward +€11,676
no longer reported in 2025 (was -€11,676)
- Reserves +€4,358
new in 2025: €4,358
- Trade debts -€801
down €801 (-56.2%), from €1,423 to €623
- Gross operating margin +€12,672
up €12,672 (+168.2%), from €7,534 to €20,206
- Depreciation +€846
up €846 (+116.0%), from €729 to €1,575
- Taxes +€420
up €420 (+237.2%), from €177 to €597
- Financial charges -€259
down €259 (-15.0%), from €1,720 to €1,461
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 | €41,897 | €57,149 | +€15,252 | +36.4% |
| Fixed assets | 21/28 | €3,599 | €12,555 | +€8,956 | +248.9% |
| Tangible fixed assets | 22/27 | €3,599 | €12,555 | +€8,956 | +248.9% |
| Plant, machinery and equipment | 23 | €3,444 | €12,477 | +€9,034 | +262.3% |
| Other tangible fixed assets | 26 | €155 | €78 | -€78 | -50.0% |
| Current assets | 29/58 | €38,298 | €44,594 | +€6,296 | +16.4% |
| Amounts receivable after more than one year | 29 | - | €5,250 | +€5,250 | |
| Other amounts receivable | 291 | - | €5,250 | +€5,250 | |
| Amounts receivable within one year | 40/41 | €455 | €170 | -€284 | -62.6% |
| Trade receivables | 40 | €455 | €170 | -€284 | -62.6% |
| Cash at bank and in hand | 54/58 | €37,844 | €39,174 | +€1,330 | +3.5% |
| Total equity and liabilities | 10/49 | €41,897 | €57,149 | +€15,252 | +36.4% |
| Equity | 10/15 | €39,324 | €55,358 | +€16,034 | +40.8% |
| Contributions | 10/11 | €51,000 | €51,000 | = | 0.0% |
| Reserves | 13 | - | €4,358 | +€4,358 | |
| Distributable reserves | 133 | - | €4,358 | +€4,358 | |
| Profit (loss) carried forward | 14 | -€11,676 | - | +€11,676 | |
| Amounts payable | 17/49 | €2,573 | €1,791 | -€782 | -30.4% |
| Amounts payable within one year | 42/48 | €2,573 | €1,791 | -€782 | -30.4% |
| Trade debts | 44 | €1,423 | €623 | -€801 | -56.2% |
| Suppliers | 440/4 | €1,423 | €623 | -€801 | -56.2% |
| Taxes, remuneration and social security | 45 | €1,149 | €1,168 | +€19 | +1.6% |
| Taxes | 450/3 | €1,149 | €1,168 | +€19 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €729 | €1,575 | +€846 | +116.0% |
| Other operating charges | 640/8 | €778 | €720 | -€58 | -7.5% |
| Gross operating margin | 9900 | €7,534 | €20,206 | +€12,672 | +168.2% |
| Operating profit (loss) | 9901 | €6,027 | €17,911 | +€11,884 | +197.2% |
| Financial income | 75/76B | €86 | €180 | +€94 | +108.6% |
| Recurring financial income | 75 | €86 | €180 | +€94 | +108.6% |
| Financial charges | 65/66B | €1,720 | €1,461 | -€259 | -15.0% |
| Recurring financial charges | 65 | €1,720 | €1,461 | -€259 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €4,394 | €16,630 | +€12,237 | +278.5% |
| Income taxes | 67/77 | €177 | €597 | +€420 | +237.2% |
| Profit (loss) for the period | 9904 | €4,217 | €16,034 | +€11,817 | +280.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,217 | €16,034 | +€11,817 | +280.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.