BLUE ICE.: 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 ICE.
Largest movements
- Stocks and contracts -€922,026
down €922,026 (-65.1%), from €1.4m to €494,854
- Receivables within one year -€275,859
down €275,859 (-98.2%), from €281,016 to €5,158
of which Trade receivables: -€271,071
- Cash -€104,271
down €104,271 (-68.9%), from €151,287 to €47,016
mainly Net result for the year (-€782,458) and Trade debts (-€567,838)
- Profit (loss) carried forward -€782,458
new in 2025: -€782,458
- Trade debts -€567,838
down €567,838 (-96.3%), from €589,530 to €21,693
- Other debts +€65,863
up €65,863 (+11.6%), from €569,733 to €635,596
- Tax, wage and social debts -€20,780
down €20,780 (-51.3%), from €40,510 to €19,730
of which Remuneration and social security: -€11,011
- Turnover -€3.7m
down €3.7m (-93.0%), from €4.0m to €277,641
- Goods and materials -€3.2m
down €3.2m (-77.8%), from €4.2m to €922,026
of which Purchases: -€2.9m
- Services and other goods -€172,842
down €172,842 (-70.7%), from €244,336 to €71,494
- Staff costs -€48,419
down €48,419 (-46.8%), from €103,405 to €54,985
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.
Derived cash bridge
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 | €1,852,637 | €547,425 | -€1.3m | -70.5% |
| Fixed assets | 21/28 | €124 | €124 | = | 0.0% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Other financial fixed assets | 284/8 | €124 | €124 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €1,852,513 | €547,301 | -€1.3m | -70.5% |
| Stocks and contracts in progress | 3 | €1,416,879 | €494,854 | -€922,026 | -65.1% |
| Stocks | 30/36 | €1,416,879 | €494,854 | -€922,026 | -65.1% |
| Goods purchased for resale | 34 | €1,416,879 | €494,854 | -€922,026 | -65.1% |
| Amounts receivable within one year | 40/41 | €281,016 | €5,158 | -€275,859 | -98.2% |
| Trade receivables | 40 | €276,088 | €5,018 | -€271,071 | -98.2% |
| Other amounts receivable | 41 | €4,928 | €140 | -€4,788 | -97.2% |
| Cash at bank and in hand | 54/58 | €151,287 | €47,016 | -€104,271 | -68.9% |
| Deferred charges and accrued income | 490/1 | €3,331 | €274 | -€3,057 | -91.8% |
| Total equity and liabilities | 10/49 | €1,852,637 | €547,425 | -€1.3m | -70.5% |
| Equity | 10/15 | €652,864 | -€129,594 | -€782,458 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €634,264 | €634,264 | = | 0.0% |
| Distributable reserves | 133 | €634,264 | €634,264 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€782,458 | -€782,458 | |
| Amounts payable | 17/49 | €1,199,773 | €677,019 | -€522,754 | -43.6% |
| Amounts payable within one year | 42/48 | €1,199,773 | €677,019 | -€522,754 | -43.6% |
| Trade debts | 44 | €589,530 | €21,693 | -€567,838 | -96.3% |
| Suppliers | 440/4 | €589,530 | €21,693 | -€567,838 | -96.3% |
| Taxes, remuneration and social security | 45 | €40,510 | €19,730 | -€20,780 | -51.3% |
| Taxes | 450/3 | €25,718 | €15,950 | -€9,768 | -38.0% |
| Remuneration and social security | 454/9 | €14,792 | €3,781 | -€11,011 | -74.4% |
| Other amounts payable | 47/48 | €569,733 | €635,596 | +€65,863 | +11.6% |
| Operating income | 70/76A | €3,969,441 | €280,755 | -€3.7m | -92.9% |
| Turnover | 70 | €3,963,561 | €277,641 | -€3.7m | -93.0% |
| Other operating income | 74 | €5,880 | €3,115 | -€2,765 | -47.0% |
| Operating charges | 60/66A | €4,505,982 | €1,050,768 | -€3.5m | -76.7% |
| Goods for resale, raw materials and consumables | 60 | €4,155,000 | €922,026 | -€3.2m | -77.8% |
| Purchases | 600/8 | €2,905,570 | - | -€2.9m | |
| Change in stocks: decrease (increase) | 609 | €1,249,430 | €922,026 | -€327,404 | -26.2% |
| Services and other goods | 61 | €244,336 | €71,494 | -€172,842 | -70.7% |
| Remuneration, social security and pensions | 62 | €103,405 | €54,985 | -€48,419 | -46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €176 | - | -€176 | |
| Other operating charges | 640/8 | €3,066 | €2,264 | -€802 | -26.2% |
| Operating profit (loss) | 9901 | -€536,541 | -€770,013 | -€233,473 | -43.5% |
| Financial income | 75/76B | €54 | €202 | +€148 | +276% |
| Recurring financial income | 75 | €54 | €202 | +€148 | +276% |
| Other financial income | 752/9 | €54 | €202 | +€148 | +276% |
| Financial charges | 65/66B | €9,619 | €5,745 | -€3,875 | -40.3% |
| Recurring financial charges | 65 | €9,619 | €5,745 | -€3,875 | -40.3% |
| Debt charges | 650 | €1,140 | €2,387 | +€1,247 | +109% |
| Other financial charges | 652/9 | €8,480 | €3,358 | -€5,121 | -60.4% |
| Profit (loss) for the period before taxes | 9903 | -€546,106 | -€775,556 | -€229,450 | -42.0% |
| Income taxes | 67/77 | €5,944 | €6,901 | +€957 | +16.1% |
| Taxes | 670/3 | €5,944 | €9,030 | +€3,086 | +51.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €2,129 | +€2,129 | |
| Profit (loss) for the period | 9904 | -€552,051 | -€782,458 | -€230,407 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€552,051 | -€782,458 | -€230,407 | -41.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.