BLUE PROPERTIES: 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 PROPERTIES
Largest movements
- Stocks and contracts -€229,800
down €229,800 (-17.6%), from €1.3m to €1.1m
- Cash -€43,817
down €43,817 (-10.1%), from €431,948 to €388,131
mainly Short-term financial debts (-€272,072) and Net result for the year (-€73,509)
- Tangible fixed assets -€42,572
down €42,572 (-3.8%), from €1.1m to €1.1m
of which Land and buildings: -€42,572
- Short-term financial debts -€272,072
down €272,072 (-99.9%), from €272,450 to €378
- Profit (loss) carried forward -€37,445
new in 2025: -€37,445
- Reserves -€36,064
down €36,064 (-32.7%), from €110,361 to €74,296
of which Distributable reserves: -€31,111
- Other operating charges -€30,810
down €30,810 (-79.5%), from €38,760 to €7,950
- Gross operating margin -€12,448
down €12,448 (-95.9%), from €12,986 to €538
- Financial charges -€4,793
down €4,793 (-19.0%), from €25,286 to €20,493
- Depreciation +€2,292
up €2,292 (+5.0%), from €45,976 to €48,268
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 | €2,970,935 | €2,643,746 | -€327,189 | -11.0% |
| Fixed assets | 21/28 | €1,120,926 | €1,078,354 | -€42,572 | -3.8% |
| Tangible fixed assets | 22/27 | €1,120,676 | €1,078,104 | -€42,572 | -3.8% |
| Land and buildings | 22 | €1,097,676 | €1,055,104 | -€42,572 | -3.9% |
| Furniture and vehicles | 24 | €23,000 | €23,000 | = | 0.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €1,850,009 | €1,565,392 | -€284,617 | -15.4% |
| Stocks and contracts in progress | 3 | €1,308,270 | €1,078,471 | -€229,800 | -17.6% |
| Stocks | 30/36 | €1,308,270 | €1,078,471 | -€229,800 | -17.6% |
| Amounts receivable within one year | 40/41 | €5,636 | €901 | -€4,734 | -84.0% |
| Trade receivables | 40 | €4,872 | €594 | -€4,278 | -87.8% |
| Other amounts receivable | 41 | €764 | €308 | -€456 | -59.7% |
| Current investments | 50/53 | €103,117 | €94,279 | -€8,839 | -8.6% |
| Cash at bank and in hand | 54/58 | €431,948 | €388,131 | -€43,817 | -10.1% |
| Deferred charges and accrued income | 490/1 | €1,038 | €3,611 | +€2,572 | +247.8% |
| Total equity and liabilities | 10/49 | €2,970,935 | €2,643,746 | -€327,189 | -11.0% |
| Equity | 10/15 | €860,361 | €786,852 | -€73,509 | -8.5% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Reserves | 13 | €110,361 | €74,296 | -€36,064 | -32.7% |
| Tax-exempt reserves | 132 | €79,249 | €74,296 | -€4,953 | -6.2% |
| Distributable reserves | 133 | €31,111 | €0 | -€31,111 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€37,445 | -€37,445 | |
| Provisions and deferred taxes | 16 | €40,807 | €38,257 | -€2,550 | -6.3% |
| Deferred taxes | 168 | €40,807 | €38,257 | -€2,550 | -6.3% |
| Amounts payable | 17/49 | €2,069,767 | €1,818,638 | -€251,130 | -12.1% |
| Amounts payable within one year | 42/48 | €2,069,767 | €1,802,804 | -€266,964 | -12.9% |
| Financial debts | 43 | €272,450 | €378 | -€272,072 | -99.9% |
| Credit institutions | 430/8 | €272,450 | €378 | -€272,072 | -99.9% |
| Trade debts | 44 | €17,597 | €12,008 | -€5,589 | -31.8% |
| Suppliers | 440/4 | €17,597 | €12,008 | -€5,589 | -31.8% |
| Taxes, remuneration and social security | 45 | €33 | €0 | -€33 | -100.0% |
| Taxes | 450/3 | €33 | €0 | -€33 | -100.0% |
| Other amounts payable | 47/48 | €1,779,688 | €1,790,418 | +€10,730 | +0.6% |
| Accrued charges and deferred income | 492/3 | - | €15,834 | +€15,834 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,976 | €48,268 | +€2,292 | +5.0% |
| Other operating charges | 640/8 | €38,760 | €7,950 | -€30,810 | -79.5% |
| Gross operating margin | 9900 | €12,986 | €538 | -€12,448 | -95.9% |
| Operating profit (loss) | 9901 | -€71,750 | -€55,679 | +€16,071 | +22.4% |
| Financial income | 75/76B | €237 | €113 | -€125 | -52.6% |
| Recurring financial income | 75 | €237 | €113 | -€125 | -52.6% |
| Financial charges | 65/66B | €25,286 | €20,493 | -€4,793 | -19.0% |
| Recurring financial charges | 65 | €25,286 | €20,493 | -€4,793 | -19.0% |
| Profit (loss) for the period before taxes | 9903 | -€96,799 | -€76,059 | +€20,739 | +21.4% |
| Transfer from deferred taxes | 780 | €2,550 | €2,550 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€94,248 | -€73,509 | +€20,739 | +22.0% |
| Transfer from tax-exempt reserves | 789 | €4,953 | €4,953 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€89,295 | -€68,556 | +€20,739 | +23.2% |
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 10 October 2026 via checked.be.