BLUE MANAGEMENT: what changed
Two fiscal 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
- Cash +€46,506
up €46,506 (+20.8%), from €223,174 to €269,680
mainly Net result for the year (+€69,224) and Trade debts (+€1,829)
- Receivables within one year +€5,834
up €5,834 (+9.3%), from €63,026 to €68,860
of which Trade receivables: +€5,834
- Profit (loss) carried forward +€69,224
up €69,224 (+305.9%), from €22,630 to €91,853
- Debts after one year -€10,000
down €10,000 (-4.8%), from €210,000 to €200,000
- Other debts -€5,936
down €5,936 (-44.6%), from €13,306 to €7,370
- Tax, wage and social debts -€3,879
down €3,879 (-20.4%), from €19,056 to €15,177
- Gross operating margin -€3,269
down €3,269 (-3.5%), from €93,931 to €90,662
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.
Cash bridge derived
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 | €288,923 | €339,464 | +€50,541 | +17.5% |
| Fixed assets | 21/28 | €2,513 | €853 | -€1,659 | -66.0% |
| Tangible fixed assets | 22/27 | €2,513 | €853 | -€1,659 | -66.0% |
| Furniture and vehicles | 24 | €2,513 | €853 | -€1,659 | -66.0% |
| Current assets | 29/58 | €286,410 | €338,611 | +€52,201 | +18.2% |
| Amounts receivable within one year | 40/41 | €63,026 | €68,860 | +€5,834 | +9.3% |
| Trade receivables | 40 | €51,694 | €57,527 | +€5,834 | +11.3% |
| Other amounts receivable | 41 | €11,332 | €11,332 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €223,174 | €269,680 | +€46,506 | +20.8% |
| Deferred charges and accrued income | 490/1 | €211 | €71 | -€139 | -66.2% |
| Total equity and liabilities | 10/49 | €288,923 | €339,464 | +€50,541 | +17.5% |
| Equity | 10/15 | €43,090 | €112,313 | +€69,224 | +160.7% |
| 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 | €22,630 | €91,853 | +€69,224 | +305.9% |
| Amounts payable | 17/49 | €245,833 | €227,151 | -€18,682 | -7.6% |
| Amounts payable after more than one year | 17 | €210,000 | €200,000 | -€10,000 | -4.8% |
| Financial debts | 170/4 | €210,000 | €200,000 | -€10,000 | -4.8% |
| Amounts payable within one year | 42/48 | €33,821 | €25,836 | -€7,985 | -23.6% |
| Trade debts | 44 | €1,460 | €3,289 | +€1,829 | +125.3% |
| Suppliers | 440/4 | €1,460 | €3,289 | +€1,829 | +125.3% |
| Taxes, remuneration and social security | 45 | €19,056 | €15,177 | -€3,879 | -20.4% |
| Taxes | 450/3 | €19,056 | €15,177 | -€3,879 | -20.4% |
| Other amounts payable | 47/48 | €13,306 | €7,370 | -€5,936 | -44.6% |
| Accrued charges and deferred income | 492/3 | €2,012 | €1,315 | -€697 | -34.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,783 | €1,659 | -€124 | -6.9% |
| Other operating charges | 640/8 | €911 | €1,348 | +€437 | +47.9% |
| Gross operating margin | 9900 | €93,931 | €90,662 | -€3,269 | -3.5% |
| Operating profit (loss) | 9901 | €91,236 | €87,654 | -€3,582 | -3.9% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €178 | €300 | +€123 | +69.1% |
| Recurring financial charges | 65 | €178 | €300 | +€123 | +69.1% |
| Profit (loss) for the period before taxes | 9903 | €91,059 | €87,354 | -€3,705 | -4.1% |
| Income taxes | 67/77 | €18,668 | €18,130 | -€538 | -2.9% |
| Profit (loss) for the period | 9904 | €72,391 | €69,224 | -€3,167 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,391 | €69,224 | -€3,167 | -4.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.