BLUE RIDGE: 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 RIDGE
Largest movements
- Tangible fixed assets -€923,072
down €923,072 (-93.9%), from €983,064 to €59,992
of which Land and buildings: -€560,093
- Cash +€89,587
up €89,587 (+1,935%), from €4,629 to €94,217
mainly Investment in fixed assets (net) (+€918,570) and Net result for the year (+€136,601)
- Receivables after one year +€70,337
new in 2025: €70,337
- Receivables within one year +€10,000
up €10,000, from €0 to €10,000
- Short-term financial debts -€693,656
down €693,656 (-100%), from €693,656 to €0
- Profit (loss) carried forward +€455,527
up €455,527 (+98.0%), from -€464,751 to -€9,224
- Reserves -€318,927
down €318,927 (-100%), from €318,927 to €0
- Provisions -€106,309
down €106,309 (-100%), from €106,309 to €0
- Other debts -€44,497
down €44,497 (-34.4%), from €129,539 to €85,042
- Gross operating margin +€143,645
up €143,645, from -€70,696 to €72,949
- Depreciation -€16,855
down €16,855 (-78.9%), from €21,357 to €4,502
- Financial charges +€14,314
up €14,314 (+61.9%), from €23,140 to €37,453
- Other operating charges -€4,148
down €4,148 (-80.0%), from €5,187 to €1,039
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 | €987,892 | €234,744 | -€753,148 | -76.2% |
| Fixed assets | 21/28 | €983,262 | €60,191 | -€923,072 | -93.9% |
| Tangible fixed assets | 22/27 | €983,064 | €59,992 | -€923,072 | -93.9% |
| Land and buildings | 22 | €620,086 | €59,992 | -€560,093 | -90.3% |
| Assets under construction and advance payments | 27 | €362,978 | €0 | -€362,978 | -100% |
| Financial fixed assets | 28 | €198 | €198 | = | 0.0% |
| Current assets | 29/58 | €4,629 | €174,553 | +€169,924 | +3,671% |
| Amounts receivable after more than one year | 29 | - | €70,337 | +€70,337 | |
| Other amounts receivable | 291 | - | €70,337 | +€70,337 | |
| Amounts receivable within one year | 40/41 | €0 | €10,000 | +€10,000 | |
| Other amounts receivable | 41 | €0 | €10,000 | +€10,000 | |
| Cash at bank and in hand | 54/58 | €4,629 | €94,217 | +€89,587 | +1,935% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €987,892 | €234,744 | -€753,148 | -76.2% |
| Equity | 10/15 | -€75,825 | €60,776 | +€136,601 | |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €318,927 | €0 | -€318,927 | -100% |
| Tax-exempt reserves | 132 | €318,927 | €0 | -€318,927 | -100% |
| Profit (loss) carried forward | 14 | -€464,751 | -€9,224 | +€455,527 | +98.0% |
| Provisions and deferred taxes | 16 | €106,309 | €0 | -€106,309 | -100% |
| Deferred taxes | 168 | €106,309 | €0 | -€106,309 | -100% |
| Amounts payable | 17/49 | €957,407 | €173,968 | -€783,439 | -81.8% |
| Amounts payable after more than one year | 17 | €119,081 | €86,650 | -€32,431 | -27.2% |
| Other amounts payable | 178/9 | €119,081 | €86,650 | -€32,431 | -27.2% |
| Amounts payable within one year | 42/48 | €838,326 | €87,318 | -€751,009 | -89.6% |
| Financial debts | 43 | €693,656 | €0 | -€693,656 | -100% |
| Credit institutions | 430/8 | €693,656 | €0 | -€693,656 | -100% |
| Trade debts | 44 | €14,684 | €2,276 | -€12,408 | -84.5% |
| Suppliers | 440/4 | €14,684 | €2,276 | -€12,408 | -84.5% |
| Taxes, remuneration and social security | 45 | €448 | €0 | -€448 | -100% |
| Taxes | 450/3 | €448 | €0 | -€448 | -100% |
| Other amounts payable | 47/48 | €129,539 | €85,042 | -€44,497 | -34.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,357 | €4,502 | -€16,855 | -78.9% |
| Other operating charges | 640/8 | €5,187 | €1,039 | -€4,148 | -80.0% |
| Gross operating margin | 9900 | -€70,696 | €72,949 | +€143,645 | |
| Operating profit (loss) | 9901 | -€97,240 | €67,408 | +€164,649 | |
| Financial income | 75/76B | €29 | €337 | +€308 | +1,066% |
| Recurring financial income | 75 | €29 | €337 | +€308 | +1,066% |
| Financial charges | 65/66B | €23,140 | €37,453 | +€14,314 | +61.9% |
| Recurring financial charges | 65 | €23,140 | €37,453 | +€14,314 | +61.9% |
| Profit (loss) for the period before taxes | 9903 | -€120,351 | €30,292 | +€150,643 | |
| Transfer from deferred taxes | 780 | €3,779 | €106,309 | +€102,530 | +2,713% |
| Profit (loss) for the period | 9904 | -€116,572 | €136,601 | +€253,173 | |
| Transfer from tax-exempt reserves | 789 | €11,336 | €318,927 | +€307,590 | +2,713% |
| Profit (loss) for the period to be appropriated | 9905 | -€105,236 | €455,527 | +€560,763 |
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 27 October 2026 via checked.be.