BLUE & GREEN: what changed
What changed
BLUE & GREEN
NACE 74.999, Other professional, scientific and technical activities
filed annual accounts (NBB)
Net result for the year
€51,165
2024 · €93,184-€42,019
Equity
€75,929
2024 · €24,764+€51,165
Cash
€6,025
2024 · €34,098-€28,073
Balance sheet total
€1.0m
2024 · €1.1m-€46,225
Largest movements
Assets
- Cash -€28,073
down €28,073 (-82.3%), from €34,098 to €6,025
mainly Debts after one year (-€67,188) and Investment in fixed assets (net) (-€35,936)
- Receivables within one year -€24,356
down €24,356 (-28.3%), from €86,111 to €61,755
of which Trade receivables: -€23,511
Equity and liabilities
- Debts after one year -€67,188
down €67,188 (-8.2%), from €818,378 to €751,190
of which Financial debts: -€64,563
- Profit (loss) carried forward +€51,165
up €51,165 (+19.7%), from -€259,169 to -€208,004
- Trade debts -€21,305
down €21,305 (-57.6%), from €36,986 to €15,681
Income statement
- Gross operating margin -€36,770
down €36,770 (-23.7%), from €154,867 to €118,096
- Depreciation +€5,711
up €5,711 (+24.6%), from €23,187 to €28,897
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€93,184
Gross operating margin
-€36,770
Depreciation
-€5,711
Write-downs
-€1,111
Other operating charges
-€36
Financial income
+€863
Financial charges
+€415
Taxes
+€331
Result 2025
€51,165
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€70,420
Investment
-€35,936
Financing
-€62,556
Cash 2024
€34,098
From operations (derived)
+€70,420
Net result for the year
+€51,165
Depreciation
+€28,897
Stocks and contracts
+€1,111
Receivables within one year
+€24,356
Deferred charges and accrued income
-€275
Trade debts
-€21,305
Tax, wage and social debts
-€6,521
Other debts
-€6,903
Accrued charges and deferred income
-€105
Investment (derived)
-€35,936
Investment in fixed assets (net)
-€35,936
Financing
-€62,556
Debts after one year
-€67,188
Current portion of long-term debt
+€4,631
Cash 2025
€6,025
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,068,661 | €1,022,436 | -€46,225 | -4.3% |
| Fixed assets | 21/28 | €921,270 | €928,309 | +€7,039 | +0.8% |
| Tangible fixed assets | 22/27 | €921,270 | €928,309 | +€7,039 | +0.8% |
| Land and buildings | 22 | €893,898 | €882,629 | -€11,268 | -1.3% |
| Plant, machinery and equipment | 23 | €10,199 | €14,953 | +€4,754 | +46.6% |
| Furniture and vehicles | 24 | €2,023 | €22,288 | +€20,265 | +1,002% |
| Other tangible fixed assets | 26 | €6,886 | €8,438 | +€1,552 | +22.5% |
| Assets under construction and advance payments | 27 | €8,264 | - | -€8,264 | |
| Current assets | 29/58 | €147,391 | €94,127 | -€53,264 | -36.1% |
| Stocks and contracts in progress | 3 | €1,873 | €762 | -€1,111 | -59.3% |
| Stocks | 30/36 | €1,873 | €762 | -€1,111 | -59.3% |
| Amounts receivable within one year | 40/41 | €86,111 | €61,755 | -€24,356 | -28.3% |
| Trade receivables | 40 | €79,425 | €55,914 | -€23,511 | -29.6% |
| Other amounts receivable | 41 | €6,686 | €5,841 | -€845 | -12.6% |
| Current investments | 50/53 | €15,940 | €15,940 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €34,098 | €6,025 | -€28,073 | -82.3% |
| Deferred charges and accrued income | 490/1 | €9,369 | €9,644 | +€275 | +2.9% |
| Total equity and liabilities | 10/49 | €1,068,661 | €1,022,436 | -€46,225 | -4.3% |
| Equity | 10/15 | €24,764 | €75,929 | +€51,165 | +207% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €265,333 | €265,333 | = | 0.0% |
| Distributable reserves | 133 | €265,333 | €265,333 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€259,169 | -€208,004 | +€51,165 | +19.7% |
| Amounts payable | 17/49 | €1,043,897 | €946,507 | -€97,390 | -9.3% |
| Amounts payable after more than one year | 17 | €818,378 | €751,190 | -€67,188 | -8.2% |
| Financial debts | 170/4 | €806,678 | €742,115 | -€64,563 | -8.0% |
| Other amounts payable | 178/9 | €11,700 | €9,075 | -€2,625 | -22.4% |
| Amounts payable within one year | 42/48 | €219,371 | €189,274 | -€30,097 | -13.7% |
| Current portion of amounts payable after more than one year | 42 | €68,145 | €72,777 | +€4,631 | +6.8% |
| Trade debts | 44 | €36,986 | €15,681 | -€21,305 | -57.6% |
| Suppliers | 440/4 | €36,986 | €15,681 | -€21,305 | -57.6% |
| Taxes, remuneration and social security | 45 | €6,521 | - | -€6,521 | |
| Remuneration and social security | 454/9 | €6,521 | - | -€6,521 | |
| Other amounts payable | 47/48 | €107,719 | €100,816 | -€6,903 | -6.4% |
| Accrued charges and deferred income | 492/3 | €6,148 | €6,042 | -€105 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,187 | €28,897 | +€5,711 | +24.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,111 | +€1,111 | |
| Other operating charges | 640/8 | €8,416 | €8,452 | +€36 | +0.4% |
| Gross operating margin | 9900 | €154,867 | €118,096 | -€36,770 | -23.7% |
| Operating profit (loss) | 9901 | €123,264 | €79,636 | -€43,629 | -35.4% |
| Financial income | 75/76B | €399 | €1,262 | +€863 | +216% |
| Recurring financial income | 75 | €399 | €1,262 | +€863 | +216% |
| Financial charges | 65/66B | €29,696 | €29,281 | -€415 | -1.4% |
| Recurring financial charges | 65 | €29,696 | €29,281 | -€415 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | €93,968 | €51,617 | -€42,351 | -45.1% |
| Income taxes | 67/77 | €784 | €453 | -€331 | -42.3% |
| Profit (loss) for the period | 9904 | €93,184 | €51,165 | -€42,019 | -45.1% |
| Profit (loss) for the period to be appropriated | 9905 | €93,184 | €51,165 | -€42,019 | -45.1% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.