BLUE OCEAN: 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 OCEAN
Largest movements
- Cash -€220,987
down €220,987 (-87.0%), from €254,097 to €33,110
mainly Net result for the year (-€97,302) and Receivables within one year (-€68,452)
- Receivables within one year +€68,452
up €68,452 (+47.1%), from €145,473 to €213,926
of which Trade receivables: +€67,884
- Tangible fixed assets -€5,615
down €5,615 (-55.6%), from €10,101 to €4,486
- Profit (loss) carried forward -€97,302
down €97,302 (-253%), from -€38,437 to -€135,740
- Tax, wage and social debts -€64,124
down €64,124 (-20.2%), from €316,695 to €252,571
of which Remuneration and social security: -€37,449
- Turnover -€345,792
down €345,792 (-21.2%), from €1.6m to €1.3m
- Staff costs -€229,966
down €229,966 (-16.3%), from €1.4m to €1.2m
- Services and other goods -€72,150
down €72,150 (-28.5%), from €253,184 to €181,035
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 | €409,785 | €251,574 | -€158,211 | -38.6% |
| Fixed assets | 21/28 | €10,101 | €4,486 | -€5,615 | -55.6% |
| Tangible fixed assets | 22/27 | €10,101 | €4,486 | -€5,615 | -55.6% |
| Furniture and vehicles | 24 | €10,101 | €4,486 | -€5,615 | -55.6% |
| Current assets | 29/58 | €399,684 | €247,088 | -€152,596 | -38.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €145,473 | €213,926 | +€68,452 | +47.1% |
| Trade receivables | 40 | €114,056 | €181,940 | +€67,884 | +59.5% |
| Other amounts receivable | 41 | €31,417 | €31,985 | +€568 | +1.8% |
| Cash at bank and in hand | 54/58 | €254,097 | €33,110 | -€220,987 | -87.0% |
| Deferred charges and accrued income | 490/1 | €113 | €52 | -€61 | -54.0% |
| Total equity and liabilities | 10/49 | €409,785 | €251,574 | -€158,211 | -38.6% |
| Equity | 10/15 | €61,563 | -€35,740 | -€97,302 | |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,437 | -€135,740 | -€97,302 | -253% |
| Amounts payable | 17/49 | €348,222 | €287,314 | -€60,908 | -17.5% |
| Amounts payable within one year | 42/48 | €348,222 | €287,314 | -€60,908 | -17.5% |
| Trade debts | 44 | €31,527 | €34,743 | +€3,216 | +10.2% |
| Suppliers | 440/4 | €31,527 | €34,743 | +€3,216 | +10.2% |
| Taxes, remuneration and social security | 45 | €316,695 | €252,571 | -€64,124 | -20.2% |
| Taxes | 450/3 | €126,723 | €100,047 | -€26,676 | -21.1% |
| Remuneration and social security | 454/9 | €189,973 | €152,524 | -€37,449 | -19.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Operating income | 70/76A | €1,635,459 | €1,290,281 | -€345,177 | -21.1% |
| Turnover | 70 | €1,627,732 | €1,281,940 | -€345,792 | -21.2% |
| Other operating income | 74 | €7,727 | €8,342 | +€614 | +8.0% |
| Operating charges | 60/66A | €1,710,786 | €1,371,853 | -€338,933 | -19.8% |
| Services and other goods | 61 | €253,184 | €181,035 | -€72,150 | -28.5% |
| Remuneration, social security and pensions | 62 | €1,410,771 | €1,180,805 | -€229,966 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,624 | €7,311 | -€2,313 | -24.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,700 | €2,703 | +€1,003 | +59.0% |
| Non-recurring operating charges | 66A | €35,507 | €0 | -€35,507 | -100% |
| Operating profit (loss) | 9901 | -€75,327 | -€81,571 | -€6,244 | -8.3% |
| Financial income | 75/76B | €0 | €3 | +€3 | +3,256% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +3,256% |
| Other financial income | 752/9 | €0 | €3 | +€3 | +3,256% |
| Financial charges | 65/66B | €5,231 | €12,778 | +€7,547 | +144% |
| Recurring financial charges | 65 | €5,231 | €12,778 | +€7,547 | +144% |
| Debt charges | 650 | €5,055 | €12,600 | +€7,545 | +149% |
| Other financial charges | 652/9 | €176 | €178 | +€2 | +1.0% |
| Profit (loss) for the period before taxes | 9903 | -€80,558 | -€94,347 | -€13,788 | -17.1% |
| Income taxes | 67/77 | €4,053 | €2,956 | -€1,097 | -27.1% |
| Taxes | 670/3 | €4,059 | €2,956 | -€1,103 | -27.2% |
| Tax adjustments and reversals of tax provisions | 77 | €6 | €0 | -€6 | -100% |
| Profit (loss) for the period | 9904 | -€84,611 | -€97,302 | -€12,691 | -15.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€84,611 | -€97,302 | -€12,691 | -15.0% |
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 17 October 2026 via checked.be.