Blue Icon: 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 Icon
Largest movements
- Tangible fixed assets +€247,773
up €247,773 (+2,762%), from €8,969 to €256,742
of which Land and buildings: +€209,892
- Receivables within one year -€29,662
down €29,662 (-57.8%), from €51,317 to €21,654
of which Other amounts receivable: -€33,371
- Receivables after one year -€19,541
no longer reported in 2025 (was €19,541)
- Current investments -€19,206
no longer reported in 2025 (was €19,206)
- Cash +€5,558
up €5,558 (+351%), from €1,582 to €7,140
mainly Debts after one year (+€176,977) and Current portion of long-term debt (+€44,269)
- Debts after one year +€176,977
new in 2025: €176,977
of which Financial debts: +€135,993
- Current portion of long-term debt +€44,269
new in 2025: €44,269
- Reserves -€34,205
down €34,205 (-63.1%), from €54,205 to €20,000
- Gross operating margin +€37,054
up €37,054 (+77.9%), from €47,577 to €84,631
- Other operating charges +€24,885
up €24,885 (+1,130%), from €2,203 to €27,088
- Financial charges +€14,546
up €14,546 (+8,787%), from €166 to €14,711
- Depreciation +€9,510
up €9,510 (+851%), from €1,118 to €10,628
- Taxes -€1,232
down €1,232 (-12.8%), from €9,635 to €8,403
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 | €100,615 | €285,536 | +€184,922 | +184% |
| Fixed assets | 21/28 | €8,969 | €256,742 | +€247,773 | +2,762% |
| Tangible fixed assets | 22/27 | €8,969 | €256,742 | +€247,773 | +2,762% |
| Land and buildings | 22 | - | €209,892 | +€209,892 | |
| Furniture and vehicles | 24 | €8,969 | €46,851 | +€37,881 | +422% |
| Current assets | 29/58 | €91,645 | €28,794 | -€62,851 | -68.6% |
| Amounts receivable after more than one year | 29 | €19,541 | - | -€19,541 | |
| Other amounts receivable | 291 | €19,541 | - | -€19,541 | |
| Amounts receivable within one year | 40/41 | €51,317 | €21,654 | -€29,662 | -57.8% |
| Trade receivables | 40 | €14,944 | €18,652 | +€3,708 | +24.8% |
| Other amounts receivable | 41 | €36,373 | €3,003 | -€33,371 | -91.7% |
| Current investments | 50/53 | €19,206 | - | -€19,206 | |
| Cash at bank and in hand | 54/58 | €1,582 | €7,140 | +€5,558 | +351% |
| Total equity and liabilities | 10/49 | €100,615 | €285,536 | +€184,922 | +184% |
| Equity | 10/15 | €54,206 | €20,001 | -€34,205 | -63.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €54,205 | €20,000 | -€34,205 | -63.1% |
| Distributable reserves | 133 | €54,205 | €20,000 | -€34,205 | -63.1% |
| Amounts payable | 17/49 | €46,409 | €265,535 | +€219,126 | +472% |
| Amounts payable after more than one year | 17 | - | €176,977 | +€176,977 | |
| Financial debts | 170/4 | - | €135,993 | +€135,993 | |
| Other amounts payable | 178/9 | - | €40,983 | +€40,983 | |
| Amounts payable within one year | 42/48 | €45,226 | €88,559 | +€43,333 | +95.8% |
| Current portion of amounts payable after more than one year | 42 | - | €44,269 | +€44,269 | |
| Trade debts | 44 | €1,780 | €109 | -€1,671 | -93.9% |
| Suppliers | 440/4 | €1,780 | €109 | -€1,671 | -93.9% |
| Taxes, remuneration and social security | 45 | €8,336 | €8,296 | -€40 | -0.5% |
| Taxes | 450/3 | €8,336 | €8,296 | -€40 | -0.5% |
| Other amounts payable | 47/48 | €35,110 | €35,884 | +€774 | +2.2% |
| Accrued charges and deferred income | 492/3 | €1,183 | - | -€1,183 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,118 | €10,628 | +€9,510 | +851% |
| Other operating charges | 640/8 | €2,203 | €27,088 | +€24,885 | +1,130% |
| Gross operating margin | 9900 | €47,577 | €84,631 | +€37,054 | +77.9% |
| Operating profit (loss) | 9901 | €44,256 | €46,915 | +€2,659 | +6.0% |
| Financial income | 75/76B | €655 | €84 | -€572 | -87.2% |
| Recurring financial income | 75 | €655 | €84 | -€572 | -87.2% |
| Financial charges | 65/66B | €166 | €14,711 | +€14,546 | +8,787% |
| Recurring financial charges | 65 | €166 | €14,711 | +€14,546 | +8,787% |
| Profit (loss) for the period before taxes | 9903 | €44,745 | €32,287 | -€12,458 | -27.8% |
| Income taxes | 67/77 | €9,635 | €8,403 | -€1,232 | -12.8% |
| Profit (loss) for the period | 9904 | €35,110 | €23,884 | -€11,226 | -32.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,110 | €23,884 | -€11,226 | -32.0% |
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 16 October 2026 via checked.be.