BLUE LINES GPI: 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 LINES GPI
Largest movements
- Current investments -€398,400
no longer reported in 2025 (was €398,400)
- Receivables within one year -€310,290
down €310,290 (-81.6%), from €380,378 to €70,088
of which Trade receivables: -€316,337
- Cash +€168,135
up €168,135 (+33.3%), from €504,978 to €673,113
mainly Current investments (+€398,400) and Receivables within one year (+€310,290)
- Tangible fixed assets -€13,791
down €13,791 (-54.0%), from €25,532 to €11,741
- Profit (loss) carried forward -€274,637
down €274,637 (-93.7%), from €293,238 to €18,601
- Other debts -€203,531
no longer reported in 2025 (was €203,531)
- Trade debts -€52,238
down €52,238 (-42.7%), from €122,389 to €70,151
- Tax, wage and social debts -€23,291
no longer reported in 2025 (was €23,291)
- Depreciation -€131,524
down €131,524 (-93.7%), from €140,367 to €8,843
- Turnover -€44,973
down €44,973 (-42.3%), from €106,442 to €61,469
- Purchases and services -€44,092
down €44,092 (-31.8%), from €138,738 to €94,646
- Financial income -€15,185
down €15,185 (-44.9%), from €33,785 to €18,600
- Gross operating margin +€6,328
up €6,328 (+19.6%), from -€32,296 to -€25,968
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 | €1,316,760 | €763,063 | -€553,697 | -42.0% |
| Fixed assets | 21/28 | €33,004 | €19,213 | -€13,791 | -41.8% |
| Tangible fixed assets | 22/27 | €25,532 | €11,741 | -€13,791 | -54.0% |
| Land and buildings | 22 | €25,532 | €11,741 | -€13,791 | -54.0% |
| Financial fixed assets | 28 | €7,472 | €7,472 | = | 0.0% |
| Current assets | 29/58 | €1,283,756 | €743,850 | -€539,906 | -42.1% |
| Amounts receivable within one year | 40/41 | €380,378 | €70,088 | -€310,290 | -81.6% |
| Trade receivables | 40 | €376,667 | €60,330 | -€316,337 | -84.0% |
| Other amounts receivable | 41 | €3,711 | €9,758 | +€6,047 | +163% |
| Current investments | 50/53 | €398,400 | - | -€398,400 | |
| Cash at bank and in hand | 54/58 | €504,978 | €673,113 | +€168,135 | +33.3% |
| Deferred charges and accrued income | 490/1 | - | €648 | +€648 | |
| Total equity and liabilities | 10/49 | €1,316,760 | €763,063 | -€553,697 | -42.0% |
| Equity | 10/15 | €967,549 | €692,912 | -€274,637 | -28.4% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Capital | 10 | €180,000 | €180,000 | = | 0.0% |
| Issued capital | 100 | €180,000 | €180,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €0 | +€0 | |
| Reserves | 13 | €494,311 | €494,311 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €18,000 | €18,000 | = | 0.0% |
| Legal reserve | 130 | €18,000 | €18,000 | = | 0.0% |
| Distributable reserves | 133 | €476,311 | €476,311 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €293,238 | €18,601 | -€274,637 | -93.7% |
| Amounts payable | 17/49 | €349,211 | €70,151 | -€279,060 | -79.9% |
| Amounts payable within one year | 42/48 | €349,211 | €70,151 | -€279,060 | -79.9% |
| Trade debts | 44 | €122,389 | €70,151 | -€52,238 | -42.7% |
| Suppliers | 440/4 | €122,389 | €70,151 | -€52,238 | -42.7% |
| Taxes, remuneration and social security | 45 | €23,291 | - | -€23,291 | |
| Taxes | 450/3 | €23,291 | - | -€23,291 | |
| Other amounts payable | 47/48 | €203,531 | - | -€203,531 | |
| Turnover | 70 | €106,442 | €61,469 | -€44,973 | -42.3% |
| Non-recurring operating income | 76A | - | €7,210 | +€7,210 | |
| Goods, raw materials, services and sundry goods | 60/61 | €138,738 | €94,646 | -€44,092 | -31.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,367 | €8,843 | -€131,524 | -93.7% |
| Other operating charges | 640/8 | €1,033 | €1,076 | +€43 | +4.1% |
| Non-recurring operating charges | 66A | - | €252,265 | +€252,265 | |
| Gross operating margin | 9900 | -€32,296 | -€25,968 | +€6,328 | +19.6% |
| Operating profit (loss) | 9901 | -€173,696 | -€288,151 | -€114,455 | -65.9% |
| Financial income | 75/76B | €33,785 | €18,600 | -€15,185 | -44.9% |
| Recurring financial income | 75 | €33,785 | €18,600 | -€15,185 | -44.9% |
| Financial charges | 65/66B | €10,281 | €5,085 | -€5,196 | -50.5% |
| Recurring financial charges | 65 | €10,281 | €5,085 | -€5,196 | -50.5% |
| Profit (loss) for the period before taxes | 9903 | -€150,192 | -€274,636 | -€124,444 | -82.9% |
| Profit (loss) for the period | 9904 | -€150,192 | -€274,636 | -€124,444 | -82.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€150,192 | -€274,636 | -€124,444 | -82.9% |
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 29 October 2026 via checked.be.