BLUE FROZEN: 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 FROZEN
Largest movements
- Receivables within one year +€403,747
up €403,747 (+94.2%), from €428,819 to €832,566
of which Trade receivables: +€402,058
- Stocks and contracts +€113,384
up €113,384 (+567%), from €20,000 to €133,384
- Advances received +€266,044
up €266,044 (+132%), from €201,891 to €467,935
- Reserves +€125,558
up €125,558 (+153%), from €81,850 to €207,408
- Trade debts +€106,760
up €106,760 (+96.5%), from €110,647 to €217,407
of which Suppliers: +€57,020
- Tax, wage and social debts +€35,209
up €35,209 (+159%), from €22,195 to €57,404
of which Taxes: +€32,864
- Other debts -€13,170
down €13,170 (-70.0%), from €18,818 to €5,648
- Gross operating margin +€219,221
up €219,221 (+208%), from €105,261 to €324,482
- Write-downs +€163,441
new in 2023: €163,441
- Taxes +€10,669
up €10,669 (+48.1%), from €22,195 to €32,864
From the 2022 result to the 2023 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 2022 and 2023 balance sheets and the 2023 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2022 | 2023 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €456,543 | €975,359 | +€518,816 | +114% |
| Fixed assets | 21/28 | €4,484 | €3,428 | -€1,056 | -23.6% |
| Tangible fixed assets | 22/27 | €2,834 | €1,778 | -€1,056 | -37.3% |
| Furniture and vehicles | 24 | €2,834 | €1,778 | -€1,056 | -37.3% |
| Financial fixed assets | 28 | €1,650 | €1,650 | = | 0.0% |
| Current assets | 29/58 | €452,059 | €971,931 | +€519,872 | +115% |
| Stocks and contracts in progress | 3 | €20,000 | €133,384 | +€113,384 | +567% |
| Stocks | 30/36 | €20,000 | €133,384 | +€113,384 | +567% |
| Amounts receivable within one year | 40/41 | €428,819 | €832,566 | +€403,747 | +94.2% |
| Trade receivables | 40 | €428,215 | €830,273 | +€402,058 | +93.9% |
| Other amounts receivable | 41 | €604 | €2,293 | +€1,689 | +280% |
| Cash at bank and in hand | 54/58 | €3,240 | €4,248 | +€1,008 | +31.1% |
| Deferred charges and accrued income | 490/1 | - | €1,733 | +€1,733 | |
| Total equity and liabilities | 10/49 | €456,543 | €975,359 | +€518,816 | +114% |
| Equity | 10/15 | €100,350 | €225,908 | +€125,558 | +125% |
| Contributions | 10/11 | €18,500 | €18,500 | = | 0.0% |
| Reserves | 13 | €81,850 | €207,408 | +€125,558 | +153% |
| Distributable reserves | 133 | €81,850 | €207,408 | +€125,558 | +153% |
| Amounts payable | 17/49 | €356,193 | €749,451 | +€393,258 | +110% |
| Amounts payable after more than one year | 17 | €1,057 | - | -€1,057 | |
| Financial debts | 170/4 | €1,057 | - | -€1,057 | |
| Amounts payable within one year | 42/48 | €355,136 | €749,451 | +€394,315 | +111% |
| Current portion of amounts payable after more than one year | 42 | €1,585 | €1,057 | -€528 | -33.3% |
| Trade debts | 44 | €110,647 | €217,407 | +€106,760 | +96.5% |
| Suppliers | 440/4 | €110,647 | €167,667 | +€57,020 | +51.5% |
| Bills of exchange payable | 441 | - | €49,740 | +€49,740 | |
| Advances received on contracts in progress | 46 | €201,891 | €467,935 | +€266,044 | +132% |
| Taxes, remuneration and social security | 45 | €22,195 | €57,404 | +€35,209 | +159% |
| Taxes | 450/3 | €22,195 | €55,059 | +€32,864 | +148% |
| Remuneration and social security | 454/9 | - | €2,345 | +€2,345 | |
| Other amounts payable | 47/48 | €18,818 | €5,648 | -€13,170 | -70.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €336 | €1,057 | +€721 | +215% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €163,441 | +€163,441 | |
| Other operating charges | 640/8 | €62 | - | -€62 | |
| Gross operating margin | 9900 | €105,261 | €324,482 | +€219,221 | +208% |
| Operating profit (loss) | 9901 | €104,863 | €159,984 | +€55,121 | +52.6% |
| Financial income | 75/76B | €6 | €27 | +€21 | +350% |
| Recurring financial income | 75 | €6 | €27 | +€21 | +350% |
| Financial charges | 65/66B | €824 | €1,589 | +€765 | +92.8% |
| Recurring financial charges | 65 | €824 | €1,589 | +€765 | +92.8% |
| Profit (loss) for the period before taxes | 9903 | €104,045 | €158,422 | +€54,377 | +52.3% |
| Income taxes | 67/77 | €22,195 | €32,864 | +€10,669 | +48.1% |
| Profit (loss) for the period | 9904 | €81,850 | €125,558 | +€43,708 | +53.4% |
| Profit (loss) for the period to be appropriated | 9905 | €81,850 | €125,558 | +€43,708 | +53.4% |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2023. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.