Blue Ocean 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 Ocean Management
Largest movements
- Tangible fixed assets +€15,603
up €15,603 (+721%), from €2,165 to €17,768
of which Furniture and vehicles: +€13,762
- Cash +€15,553
up €15,553 (+86.5%), from €17,984 to €33,537
mainly Net result for the year (+€18,382) and Receivables within one year (+€7,696)
- Receivables within one year -€7,696
down €7,696 (-34.5%), from €22,284 to €14,588
of which Trade receivables: -€7,689
- Reserves +€18,382
up €18,382 (+65.8%), from €27,956 to €46,338
- Tax, wage and social debts +€6,915
up €6,915 (+72.5%), from €9,539 to €16,454
- Trade debts -€2,082
down €2,082 (-51.6%), from €4,036 to €1,955
- Depreciation +€7,156
up €7,156 (+1,834%), from €390 to €7,546
- Gross operating margin -€2,761
down €2,761 (-7.4%), from €37,353 to €34,592
- Other operating charges -€1,254
down €1,254 (-78.7%), from €1,593 to €339
- Taxes +€849
up €849 (+11.7%), from €7,276 to €8,125
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 | €44,043 | €67,912 | +€23,869 | +54.2% |
| Fixed assets | 21/28 | €2,165 | €17,768 | +€15,603 | +721% |
| Tangible fixed assets | 22/27 | €2,165 | €17,768 | +€15,603 | +721% |
| Plant, machinery and equipment | 23 | €2,165 | €4,006 | +€1,841 | +85.1% |
| Furniture and vehicles | 24 | - | €13,762 | +€13,762 | |
| Current assets | 29/58 | €41,878 | €50,144 | +€8,266 | +19.7% |
| Amounts receivable within one year | 40/41 | €22,284 | €14,588 | -€7,696 | -34.5% |
| Trade receivables | 40 | €22,209 | €14,520 | -€7,689 | -34.6% |
| Other amounts receivable | 41 | €75 | €68 | -€6 | -8.6% |
| Cash at bank and in hand | 54/58 | €17,984 | €33,537 | +€15,553 | +86.5% |
| Deferred charges and accrued income | 490/1 | €1,611 | €2,020 | +€408 | +25.4% |
| Total equity and liabilities | 10/49 | €44,043 | €67,912 | +€23,869 | +54.2% |
| Equity | 10/15 | €30,456 | €48,838 | +€18,382 | +60.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €27,956 | €46,338 | +€18,382 | +65.8% |
| Distributable reserves | 133 | €27,956 | €46,338 | +€18,382 | +65.8% |
| Amounts payable | 17/49 | €13,587 | €19,074 | +€5,487 | +40.4% |
| Amounts payable within one year | 42/48 | €13,587 | €18,629 | +€5,042 | +37.1% |
| Financial debts | 43 | - | €53 | +€53 | |
| Credit institutions | 430/8 | - | €53 | +€53 | |
| Trade debts | 44 | €4,036 | €1,955 | -€2,082 | -51.6% |
| Suppliers | 440/4 | €4,036 | €1,955 | -€2,082 | -51.6% |
| Taxes, remuneration and social security | 45 | €9,539 | €16,454 | +€6,915 | +72.5% |
| Taxes | 450/3 | €9,539 | €16,454 | +€6,915 | +72.5% |
| Other amounts payable | 47/48 | €11 | €167 | +€156 | +1,416% |
| Accrued charges and deferred income | 492/3 | - | €445 | +€445 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €390 | €7,546 | +€7,156 | +1,834% |
| Other operating charges | 640/8 | €1,593 | €339 | -€1,254 | -78.7% |
| Gross operating margin | 9900 | €37,353 | €34,592 | -€2,761 | -7.4% |
| Operating profit (loss) | 9901 | €35,370 | €26,707 | -€8,663 | -24.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €138 | €200 | +€62 | +45.2% |
| Recurring financial charges | 65 | €138 | €200 | +€62 | +45.2% |
| Profit (loss) for the period before taxes | 9903 | €35,232 | €26,507 | -€8,725 | -24.8% |
| Income taxes | 67/77 | €7,276 | €8,125 | +€849 | +11.7% |
| Profit (loss) for the period | 9904 | €27,956 | €18,382 | -€9,574 | -34.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,956 | €18,382 | -€9,574 | -34.2% |
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 25 October 2026 via checked.be.