BLUE MINDS: 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 MINDS
Largest movements
- Cash +€56,205
up €56,205 (+18.0%), from €311,956 to €368,161
mainly Net result for the year (+€67,192) and Receivables within one year (+€36,115)
- Receivables within one year -€36,115
down €36,115 (-27.1%), from €133,026 to €96,911
of which Other amounts receivable: -€40,964
- Reserves +€66,192
up €66,192 (+20.2%), from €326,975 to €393,167
- Other debts -€47,024
down €47,024 (-97.9%), from €48,024 to €1,000
- Tax, wage and social debts +€13,668
up €13,668 (+134%), from €10,175 to €23,844
- Debts after one year -€9,958
down €9,958 (-20.8%), from €47,937 to €37,979
- Taxes +€23,451
up €23,451 (+129%), from €18,209 to €41,660
- Gross operating margin +€20,166
up €20,166 (+22.0%), from €91,561 to €111,727
- Financial income -€2,703
down €2,703 (-28.9%), from €9,369 to €6,666
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 | €454,955 | €478,425 | +€23,470 | +5.2% |
| Fixed assets | 21/28 | €5,542 | €6,546 | +€1,005 | +18.1% |
| Tangible fixed assets | 22/27 | €4,882 | €5,886 | +€1,005 | +20.6% |
| Plant, machinery and equipment | 23 | €951 | €3,266 | +€2,315 | +244% |
| Furniture and vehicles | 24 | €636 | €424 | -€212 | -33.3% |
| Other tangible fixed assets | 26 | €3,295 | €2,196 | -€1,099 | -33.3% |
| Financial fixed assets | 28 | €660 | €660 | = | 0.0% |
| Current assets | 29/58 | €449,414 | €471,879 | +€22,466 | +5.0% |
| Amounts receivable within one year | 40/41 | €133,026 | €96,911 | -€36,115 | -27.1% |
| Trade receivables | 40 | €38,488 | €43,337 | +€4,849 | +12.6% |
| Other amounts receivable | 41 | €94,538 | €53,574 | -€40,964 | -43.3% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €311,956 | €368,161 | +€56,205 | +18.0% |
| Deferred charges and accrued income | 490/1 | €4,431 | €6,807 | +€2,375 | +53.6% |
| Total equity and liabilities | 10/49 | €454,955 | €478,425 | +€23,470 | +5.2% |
| Equity | 10/15 | €333,675 | €399,867 | +€66,192 | +19.8% |
| Contributions | 10/11 | €6,700 | €6,700 | = | 0.0% |
| Reserves | 13 | €326,975 | €393,167 | +€66,192 | +20.2% |
| Distributable reserves | 133 | €326,975 | €393,167 | +€66,192 | +20.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €121,280 | €78,558 | -€42,721 | -35.2% |
| Amounts payable after more than one year | 17 | €47,937 | €37,979 | -€9,958 | -20.8% |
| Financial debts | 170/4 | €47,937 | €37,979 | -€9,958 | -20.8% |
| Amounts payable within one year | 42/48 | €73,342 | €40,579 | -€32,763 | -44.7% |
| Current portion of amounts payable after more than one year | 42 | €9,693 | €9,958 | +€266 | +2.7% |
| Trade debts | 44 | €5,450 | €5,777 | +€327 | +6.0% |
| Suppliers | 440/4 | €5,450 | €5,777 | +€327 | +6.0% |
| Taxes, remuneration and social security | 45 | €10,175 | €23,844 | +€13,668 | +134% |
| Taxes | 450/3 | €10,175 | €23,844 | +€13,668 | +134% |
| Other amounts payable | 47/48 | €48,024 | €1,000 | -€47,024 | -97.9% |
| Non-recurring operating income | 76A | €627 | €0 | -€627 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,860 | €2,304 | -€556 | -19.4% |
| Other operating charges | 640/8 | €1,140 | €1,066 | -€74 | -6.5% |
| Non-recurring operating charges | 66A | - | €524 | +€524 | |
| Gross operating margin | 9900 | €91,561 | €111,727 | +€20,166 | +22.0% |
| Operating profit (loss) | 9901 | €87,561 | €107,833 | +€20,272 | +23.2% |
| Financial income | 75/76B | €9,369 | €6,666 | -€2,703 | -28.9% |
| Recurring financial income | 75 | €9,369 | €6,666 | -€2,703 | -28.9% |
| Financial charges | 65/66B | €5,721 | €5,647 | -€75 | -1.3% |
| Recurring financial charges | 65 | €5,721 | €5,647 | -€75 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €91,208 | €108,852 | +€17,644 | +19.3% |
| Income taxes | 67/77 | €18,209 | €41,660 | +€23,451 | +129% |
| Profit (loss) for the period | 9904 | €72,999 | €67,192 | -€5,808 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €72,999 | €67,192 | -€5,808 | -8.0% |
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 24 October 2026 via checked.be.