BLUE MONDAY: 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 MONDAY
Largest movements
- Tangible fixed assets -€71,061
down €71,061 (-2.5%), from €2.8m to €2.7m
- Debts after one year -€154,407
down €154,407 (-8.0%), from €1.9m to €1.8m
- Profit (loss) carried forward +€65,425
up €65,425 (+122.8%), from €53,290 to €118,715
- Gross operating margin -€44,480
down €44,480 (-17.7%), from €251,179 to €206,699
- Financial charges -€36,248
down €36,248 (-43.1%), from €84,101 to €47,853
- Depreciation -€24,087
down €24,087 (-25.2%), from €95,572 to €71,485
- Taxes +€3,909
up €3,909 (+21.8%), from €17,899 to €21,808
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 | €2,825,070 | €2,755,495 | -€69,575 | -2.5% |
| Formation expenses | 20 | €1,489 | €1,065 | -€424 | -28.5% |
| Fixed assets | 21/28 | €2,814,192 | €2,743,131 | -€71,061 | -2.5% |
| Tangible fixed assets | 22/27 | €2,814,192 | €2,743,131 | -€71,061 | -2.5% |
| Land and buildings | 22 | €2,814,192 | €2,743,131 | -€71,061 | -2.5% |
| Current assets | 29/58 | €9,389 | €11,299 | +€1,909 | +20.3% |
| Cash at bank and in hand | 54/58 | €9,389 | €9,397 | +€8 | +0.1% |
| Deferred charges and accrued income | 490/1 | - | €1,902 | +€1,902 | |
| Total equity and liabilities | 10/49 | €2,825,070 | €2,755,495 | -€69,575 | -2.5% |
| Equity | 10/15 | €433,290 | €498,715 | +€65,425 | +15.1% |
| Contributions | 10/11 | €380,000 | €380,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,290 | €118,715 | +€65,425 | +122.8% |
| Amounts payable | 17/49 | €2,391,780 | €2,256,779 | -€135,000 | -5.6% |
| Amounts payable after more than one year | 17 | €1,930,085 | €1,775,678 | -€154,407 | -8.0% |
| Financial debts | 170/4 | €1,930,085 | €1,775,678 | -€154,407 | -8.0% |
| Amounts payable within one year | 42/48 | €454,924 | €481,101 | +€26,177 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €154,407 | €154,407 | = | 0.0% |
| Financial debts | 43 | - | €6,730 | +€6,730 | |
| Credit institutions | 430/8 | - | €6,730 | +€6,730 | |
| Taxes, remuneration and social security | 45 | €13,395 | €16,427 | +€3,032 | +22.6% |
| Taxes | 450/3 | €13,395 | €16,427 | +€3,032 | +22.6% |
| Other amounts payable | 47/48 | €287,122 | €303,537 | +€16,415 | +5.7% |
| Accrued charges and deferred income | 492/3 | €6,771 | €0 | -€6,771 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,572 | €71,485 | -€24,087 | -25.2% |
| Other operating charges | 640/8 | €317 | €128 | -€189 | -59.6% |
| Gross operating margin | 9900 | €251,179 | €206,699 | -€44,480 | -17.7% |
| Operating profit (loss) | 9901 | €155,290 | €135,086 | -€20,204 | -13.0% |
| Financial charges | 65/66B | €84,101 | €47,853 | -€36,248 | -43.1% |
| Recurring financial charges | 65 | €84,101 | €47,853 | -€36,248 | -43.1% |
| Profit (loss) for the period before taxes | 9903 | €71,189 | €87,233 | +€16,044 | +22.5% |
| Income taxes | 67/77 | €17,899 | €21,808 | +€3,909 | +21.8% |
| Profit (loss) for the period | 9904 | €53,290 | €65,425 | +€12,135 | +22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €53,290 | €65,425 | +€12,135 | +22.8% |
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 7 October 2026 via checked.be.