BLUE FLIGHT: 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 FLIGHT
Largest movements
- Tangible fixed assets -€14,259
down €14,259 (-5.6%), from €255,689 to €241,430
of which Land and buildings: -€14,225
- Receivables within one year +€3,010
up €3,010 (+100333.3%), from €3 to €3,013
of which Trade receivables: +€3,010
- Debts after one year -€37,888
down €37,888 (-25.8%), from €146,735 to €108,847
of which Other amounts payable: -€29,753
- Profit (loss) carried forward +€25,736
up €25,736 (+37.2%), from -€69,216 to -€43,480
- Revaluation surpluses -€4,968
down €4,968 (-4.7%), from €106,188 to €101,220
- Reserves +€4,968
up €4,968 (+11.1%), from €44,712 to €49,680
- Gross operating margin +€12,683
up €12,683 (+35.2%), from €36,006 to €48,689
- Other operating charges +€1,798
up €1,798 (+313.2%), from €574 to €2,372
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 | €255,930 | €245,387 | -€10,543 | -4.1% |
| Fixed assets | 21/28 | €255,689 | €241,430 | -€14,259 | -5.6% |
| Tangible fixed assets | 22/27 | €255,689 | €241,430 | -€14,259 | -5.6% |
| Land and buildings | 22 | €255,571 | €241,346 | -€14,225 | -5.6% |
| Furniture and vehicles | 24 | €118 | €84 | -€34 | -28.8% |
| Current assets | 29/58 | €241 | €3,957 | +€3,716 | +1541.9% |
| Amounts receivable within one year | 40/41 | €3 | €3,013 | +€3,010 | +100333.3% |
| Trade receivables | 40 | - | €3,010 | +€3,010 | |
| Other amounts receivable | 41 | €3 | €3 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €238 | €944 | +€706 | +296.6% |
| Total equity and liabilities | 10/49 | €255,930 | €245,387 | -€10,543 | -4.1% |
| Equity | 10/15 | €99,384 | €125,120 | +€25,736 | +25.9% |
| Contributions | 10/11 | €17,700 | €17,700 | = | 0.0% |
| Revaluation surpluses | 12 | €106,188 | €101,220 | -€4,968 | -4.7% |
| Reserves | 13 | €44,712 | €49,680 | +€4,968 | +11.1% |
| Distributable reserves | 133 | €44,712 | €49,680 | +€4,968 | +11.1% |
| Profit (loss) carried forward | 14 | -€69,216 | -€43,480 | +€25,736 | +37.2% |
| Amounts payable | 17/49 | €156,546 | €120,267 | -€36,279 | -23.2% |
| Amounts payable after more than one year | 17 | €146,735 | €108,847 | -€37,888 | -25.8% |
| Financial debts | 170/4 | €65,719 | €57,584 | -€8,135 | -12.4% |
| Other amounts payable | 178/9 | €81,016 | €51,263 | -€29,753 | -36.7% |
| Amounts payable within one year | 42/48 | €8,531 | €10,140 | +€1,609 | +18.9% |
| Current portion of amounts payable after more than one year | 42 | €7,985 | €8,134 | +€149 | +1.9% |
| Trade debts | 44 | €190 | €1,779 | +€1,589 | +836.3% |
| Suppliers | 440/4 | €190 | €1,779 | +€1,589 | +836.3% |
| Other amounts payable | 47/48 | €356 | €227 | -€129 | -36.2% |
| Accrued charges and deferred income | 492/3 | €1,280 | €1,280 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,495 | €18,899 | +€404 | +2.2% |
| Other operating charges | 640/8 | €574 | €2,372 | +€1,798 | +313.2% |
| Gross operating margin | 9900 | €36,006 | €48,689 | +€12,683 | +35.2% |
| Operating profit (loss) | 9901 | €16,937 | €27,418 | +€10,481 | +61.9% |
| Financial charges | 65/66B | €1,829 | €1,682 | -€147 | -8.0% |
| Recurring financial charges | 65 | €1,829 | €1,682 | -€147 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | €15,108 | €25,736 | +€10,628 | +70.3% |
| Profit (loss) for the period | 9904 | €15,108 | €25,736 | +€10,628 | +70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €15,108 | €25,736 | +€10,628 | +70.3% |
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 4 October 2026 via checked.be.