BLUE ICEBERG: 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 ICEBERG
Largest movements
- Cash -€8,101
down €8,101 (-43.6%), from €18,579 to €10,478
mainly Deferred charges and accrued income (-€4,494) and Net result for the year (-€3,939)
- Deferred charges and accrued income +€4,494
up €4,494 (+1,528%), from €294 to €4,788
- Receivables within one year +€1,669
up €1,669 (+42.3%), from €3,942 to €5,611
- Tangible fixed assets -€396
down €396 (-4.5%), from €8,854 to €8,458
- Other debts +€6,936
up €6,936 (+106%), from €6,547 to €13,484
- Profit (loss) carried forward -€3,939
down €3,939 (-96.1%), from €4,098 to €158
- Trade debts -€2,676
down €2,676 (-35.5%), from €7,529 to €4,853
- Tax, wage and social debts -€2,655
down €2,655 (-48.8%), from €5,435 to €2,780
- Gross operating margin -€7,933
down €7,933, from €4,995 to -€2,938
- Other operating charges -€1,669
down €1,669 (-80.7%), from €2,068 to €400
- Depreciation -€200
down €200 (-33.6%), from €596 to €396
- Financial charges +€122
up €122 (+144%), from €85 to €207
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 | €31,669 | €29,336 | -€2,334 | -7.4% |
| Fixed assets | 21/28 | €8,854 | €8,458 | -€396 | -4.5% |
| Tangible fixed assets | 22/27 | €8,854 | €8,458 | -€396 | -4.5% |
| Furniture and vehicles | 24 | €8,854 | €8,458 | -€396 | -4.5% |
| Current assets | 29/58 | €22,815 | €20,877 | -€1,938 | -8.5% |
| Amounts receivable within one year | 40/41 | €3,942 | €5,611 | +€1,669 | +42.3% |
| Trade receivables | 40 | €3,942 | €5,611 | +€1,669 | +42.3% |
| Cash at bank and in hand | 54/58 | €18,579 | €10,478 | -€8,101 | -43.6% |
| Deferred charges and accrued income | 490/1 | €294 | €4,788 | +€4,494 | +1,528% |
| Total equity and liabilities | 10/49 | €31,669 | €29,336 | -€2,334 | -7.4% |
| Equity | 10/15 | €12,158 | €8,218 | -€3,939 | -32.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,098 | €158 | -€3,939 | -96.1% |
| Amounts payable | 17/49 | €19,512 | €21,117 | +€1,605 | +8.2% |
| Amounts payable within one year | 42/48 | €19,512 | €21,117 | +€1,605 | +8.2% |
| Trade debts | 44 | €7,529 | €4,853 | -€2,676 | -35.5% |
| Suppliers | 440/4 | €7,529 | €4,853 | -€2,676 | -35.5% |
| Taxes, remuneration and social security | 45 | €5,435 | €2,780 | -€2,655 | -48.8% |
| Taxes | 450/3 | €5,435 | €2,780 | -€2,655 | -48.8% |
| Other amounts payable | 47/48 | €6,547 | €13,484 | +€6,936 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €596 | €396 | -€200 | -33.6% |
| Other operating charges | 640/8 | €2,068 | €400 | -€1,669 | -80.7% |
| Gross operating margin | 9900 | €4,995 | -€2,938 | -€7,933 | |
| Operating profit (loss) | 9901 | €2,330 | -€3,734 | -€6,064 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €85 | €207 | +€122 | +144% |
| Recurring financial charges | 65 | €85 | €207 | +€122 | +144% |
| Profit (loss) for the period before taxes | 9903 | €2,246 | -€3,939 | -€6,185 | |
| Profit (loss) for the period | 9904 | €2,246 | -€3,939 | -€6,185 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,246 | -€3,939 | -€6,185 |
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.