BLUE-G: 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-G
Largest movements
- Tangible fixed assets -€40,412
down €40,412 (-3.7%), from €1.1m to €1.1m
of which Land and buildings: -€39,319
- Debts after one year -€58,226
down €58,226 (-8.9%), from €652,325 to €594,100
- Other debts +€52,095
up €52,095 (+60.1%), from €86,677 to €138,773
- Trade debts -€20,174
down €20,174 (-81.6%), from €24,719 to €4,544
- Tax, wage and social debts -€19,270
down €19,270 (-85.6%), from €22,522 to €3,252
- Short-term financial debts -€16,917
down €16,917 (-100.0%), from €16,917 to €0
- Gross operating margin -€18,803
down €18,803 (-16.7%), from €112,758 to €93,955
- Financial charges +€8,002
up €8,002 (+31.3%), from €25,587 to €33,589
- Taxes -€6,409
down €6,409 (-51.2%), from €12,524 to €6,115
- Other operating charges -€4,002
down €4,002 (-58.0%), from €6,894 to €2,892
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 | €1,217,594 | €1,176,765 | -€40,830 | -3.4% |
| Fixed assets | 21/28 | €1,097,952 | €1,057,540 | -€40,412 | -3.7% |
| Tangible fixed assets | 22/27 | €1,097,952 | €1,057,540 | -€40,412 | -3.7% |
| Land and buildings | 22 | €1,096,235 | €1,056,916 | -€39,319 | -3.6% |
| Furniture and vehicles | 24 | €1,717 | €625 | -€1,092 | -63.6% |
| Current assets | 29/58 | €119,643 | €119,224 | -€418 | -0.3% |
| Amounts receivable within one year | 40/41 | €57,671 | €56,709 | -€962 | -1.7% |
| Trade receivables | 40 | €51,098 | €47,833 | -€3,266 | -6.4% |
| Other amounts receivable | 41 | €6,573 | €8,877 | +€2,304 | +35.0% |
| Current investments | 50/53 | €61,869 | €61,869 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €103 | €646 | +€544 | +530.1% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,217,594 | €1,176,765 | -€40,830 | -3.4% |
| Equity | 10/15 | €335,768 | €346,715 | +€10,947 | +3.3% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Reserves | 13 | €160,636 | €171,486 | +€10,850 | +6.8% |
| Non-distributable reserves | 130/1 | €1,136 | €1,136 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,136 | €1,136 | = | 0.0% |
| Distributable reserves | 133 | €159,500 | €170,350 | +€10,850 | +6.8% |
| Profit (loss) carried forward | 14 | €132 | €229 | +€97 | +73.8% |
| Amounts payable | 17/49 | €881,827 | €830,050 | -€51,777 | -5.9% |
| Amounts payable after more than one year | 17 | €652,325 | €594,100 | -€58,226 | -8.9% |
| Financial debts | 170/4 | €652,325 | €594,100 | -€58,226 | -8.9% |
| Amounts payable within one year | 42/48 | €217,032 | €219,431 | +€2,400 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €66,196 | €72,863 | +€6,667 | +10.1% |
| Financial debts | 43 | €16,917 | €0 | -€16,917 | -100.0% |
| Credit institutions | 430/8 | €16,917 | €0 | -€16,917 | -100.0% |
| Trade debts | 44 | €24,719 | €4,544 | -€20,174 | -81.6% |
| Suppliers | 440/4 | €24,719 | €4,544 | -€20,174 | -81.6% |
| Taxes, remuneration and social security | 45 | €22,522 | €3,252 | -€19,270 | -85.6% |
| Taxes | 450/3 | €22,522 | €3,252 | -€19,270 | -85.6% |
| Other amounts payable | 47/48 | €86,677 | €138,773 | +€52,095 | +60.1% |
| Accrued charges and deferred income | 492/3 | €12,470 | €16,519 | +€4,049 | +32.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,457 | €40,412 | -€45 | -0.1% |
| Other operating charges | 640/8 | €6,894 | €2,892 | -€4,002 | -58.0% |
| Gross operating margin | 9900 | €112,758 | €93,955 | -€18,803 | -16.7% |
| Operating profit (loss) | 9901 | €65,408 | €50,651 | -€14,756 | -22.6% |
| Financial income | 75/76B | €12 | €0 | -€12 | -100.0% |
| Recurring financial income | 75 | €12 | €0 | -€12 | -100.0% |
| Financial charges | 65/66B | €25,587 | €33,589 | +€8,002 | +31.3% |
| Recurring financial charges | 65 | €25,587 | €33,589 | +€8,002 | +31.3% |
| Profit (loss) for the period before taxes | 9903 | €39,832 | €17,062 | -€22,770 | -57.2% |
| Income taxes | 67/77 | €12,524 | €6,115 | -€6,409 | -51.2% |
| Profit (loss) for the period | 9904 | €27,309 | €10,947 | -€16,362 | -59.9% |
| Profit (loss) for the period to be appropriated | 9905 | €27,309 | €10,947 | -€16,362 | -59.9% |
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 5 October 2026 via checked.be.