BLUE Management: 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 Management
Largest movements
- Stocks and contracts -€93,750
no longer reported in 2025 (was €93,750)
- Receivables within one year +€28,982
up €28,982 (+92.6%), from €31,315 to €60,297
of which Trade receivables: +€38,998
- Tangible fixed assets -€12,788
no longer reported in 2025 (was €12,788)
of which Furniture and vehicles: -€11,021
- Cash -€10,599
down €10,599 (-79.9%), from €13,267 to €2,667
mainly Net result for the year (-€67,508) and Receivables within one year (-€28,982)
- Deferred charges and accrued income -€1,652
down €1,652 (-68.9%), from €2,399 to €747
- Profit (loss) carried forward -€67,508
down €67,508, from €56,316 to -€11,192
- Tax, wage and social debts -€18,228
down €18,228 (-71.1%), from €25,629 to €7,401
of which Remuneration and social security: -€17,962
- Accrued charges and deferred income +€9,400
up €9,400 (+81.0%), from €11,600 to €21,000
- Other debts -€9,144
down €9,144 (-47.4%), from €19,276 to €10,132
- Trade debts -€4,328
down €4,328 (-21.1%), from €20,513 to €16,186
- Staff costs -€46,954
down €46,954 (-32.6%), from €143,862 to €96,908
- Gross operating margin -€37,017
down €37,017 (-45.0%), from €82,180 to €45,163
- Other operating charges -€9,816
down €9,816 (-76.4%), from €12,855 to €3,039
- Financial charges +€1,471
up €1,471 (+22.1%), from €6,645 to €8,116
- Depreciation -€1,444
down €1,444 (-23.4%), from €6,163 to €4,719
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 | €153,794 | €63,987 | -€89,807 | -58.4% |
| Fixed assets | 21/28 | €13,063 | €276 | -€12,788 | -97.9% |
| Tangible fixed assets | 22/27 | €12,788 | - | -€12,788 | |
| Furniture and vehicles | 24 | €11,021 | - | -€11,021 | |
| Other tangible fixed assets | 26 | €1,767 | - | -€1,767 | |
| Financial fixed assets | 28 | €276 | €276 | = | 0.0% |
| Current assets | 29/58 | €140,731 | €63,711 | -€77,020 | -54.7% |
| Stocks and contracts in progress | 3 | €93,750 | - | -€93,750 | |
| Stocks | 30/36 | €93,750 | - | -€93,750 | |
| Amounts receivable within one year | 40/41 | €31,315 | €60,297 | +€28,982 | +92.6% |
| Trade receivables | 40 | €21,299 | €60,297 | +€38,998 | +183% |
| Other amounts receivable | 41 | €10,016 | - | -€10,016 | |
| Cash at bank and in hand | 54/58 | €13,267 | €2,667 | -€10,599 | -79.9% |
| Deferred charges and accrued income | 490/1 | €2,399 | €747 | -€1,652 | -68.9% |
| Total equity and liabilities | 10/49 | €153,794 | €63,987 | -€89,807 | -58.4% |
| Equity | 10/15 | €76,776 | €9,268 | -€67,508 | -87.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €56,316 | -€11,192 | -€67,508 | |
| Amounts payable | 17/49 | €77,018 | €54,719 | -€22,299 | -29.0% |
| Amounts payable within one year | 42/48 | €65,418 | €33,719 | -€31,699 | -48.5% |
| Trade debts | 44 | €20,513 | €16,186 | -€4,328 | -21.1% |
| Suppliers | 440/4 | €20,513 | €16,186 | -€4,328 | -21.1% |
| Taxes, remuneration and social security | 45 | €25,629 | €7,401 | -€18,228 | -71.1% |
| Taxes | 450/3 | €7,592 | €7,326 | -€266 | -3.5% |
| Remuneration and social security | 454/9 | €18,037 | €75 | -€17,962 | -99.6% |
| Other amounts payable | 47/48 | €19,276 | €10,132 | -€9,144 | -47.4% |
| Accrued charges and deferred income | 492/3 | €11,600 | €21,000 | +€9,400 | +81.0% |
| Remuneration, social security and pensions | 62 | €143,862 | €96,908 | -€46,954 | -32.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,163 | €4,719 | -€1,444 | -23.4% |
| Other operating charges | 640/8 | €12,855 | €3,039 | -€9,816 | -76.4% |
| Gross operating margin | 9900 | €82,180 | €45,163 | -€37,017 | -45.0% |
| Operating profit (loss) | 9901 | -€80,701 | -€59,505 | +€21,196 | +26.3% |
| Financial income | 75/76B | €60 | €277 | +€217 | +359% |
| Recurring financial income | 75 | €60 | €277 | +€217 | +359% |
| Financial charges | 65/66B | €6,645 | €8,116 | +€1,471 | +22.1% |
| Recurring financial charges | 65 | €6,645 | €8,116 | +€1,471 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | -€87,286 | -€67,344 | +€19,942 | +22.8% |
| Income taxes | 67/77 | €165 | €164 | -€1 | -0.8% |
| Profit (loss) for the period | 9904 | -€87,451 | -€67,508 | +€19,943 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€87,451 | -€67,508 | +€19,943 | +22.8% |
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 31 October 2026 via checked.be.