BLUE S QUARE: what changed
BLUE S QUARE
Largest movements
- Cash +€143,652
up €143,652 (+758%), from €18,959 to €162,611
mainly Net result for the year (+€253,610) and Other debts (+€212,654)
- Deferred charges and accrued income +€20,486
up €20,486 (+697%), from €2,937 to €23,423
- Intangible fixed assets +€16,723
new in 2025: €16,723
- Receivables within one year -€8,664
down €8,664 (-2.2%), from €389,002 to €380,337
of which Other amounts receivable: -€10,717
- Other debts +€212,654
up €212,654 (+95.0%), from €223,868 to €436,522
- Trade debts -€97,513
down €97,513 (-57.9%), from €168,315 to €70,801
- Tax, wage and social debts +€53,586
up €53,586 (+98.9%), from €54,173 to €107,759
of which Taxes: +€33,470
- Gross operating margin +€182,901
up €182,901 (+53.6%), from €341,437 to €524,337
- Staff costs +€91,312
up €91,312 (+92.5%), from €98,671 to €189,982
- Taxes +€31,695
up €31,695 (+52.6%), from €60,259 to €91,954
- Write-downs -€12,339
down €12,339 (-59.5%), from -€20,749 to -€33,088
- Financial income +€7,656
up €7,656 (+989%), from €774 to €8,430
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €467,952 | €636,679 | +€168,727 | +36.1% |
| Fixed assets | 21/28 | €57,054 | €70,308 | +€13,253 | +23.2% |
| Intangible fixed assets | 21 | - | €16,723 | +€16,723 | |
| Tangible fixed assets | 22/27 | €56,711 | €53,242 | -€3,469 | -6.1% |
| Furniture and vehicles | 24 | €28,384 | €25,578 | -€2,806 | -9.9% |
| Other tangible fixed assets | 26 | €28,327 | €27,663 | -€663 | -2.3% |
| Financial fixed assets | 28 | €343 | €343 | = | 0.0% |
| Current assets | 29/58 | €410,898 | €566,372 | +€155,473 | +37.8% |
| Amounts receivable within one year | 40/41 | €389,002 | €380,337 | -€8,664 | -2.2% |
| Trade receivables | 40 | €367,811 | €369,864 | +€2,053 | +0.6% |
| Other amounts receivable | 41 | €21,190 | €10,473 | -€10,717 | -50.6% |
| Cash at bank and in hand | 54/58 | €18,959 | €162,611 | +€143,652 | +758% |
| Deferred charges and accrued income | 490/1 | €2,937 | €23,423 | +€20,486 | +697% |
| Total equity and liabilities | 10/49 | €467,952 | €636,679 | +€168,727 | +36.1% |
| Equity | 10/15 | €21,596 | €21,596 | = | 0.0% |
| Contributions | 10/11 | €19,633 | €19,633 | = | 0.0% |
| Reserves | 13 | €1,963 | €1,963 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,963 | €1,963 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,963 | €1,963 | = | 0.0% |
| Amounts payable | 17/49 | €446,356 | €615,083 | +€168,727 | +37.8% |
| Amounts payable within one year | 42/48 | €446,356 | €615,083 | +€168,727 | +37.8% |
| Trade debts | 44 | €168,315 | €70,801 | -€97,513 | -57.9% |
| Suppliers | 440/4 | €168,315 | €70,801 | -€97,513 | -57.9% |
| Taxes, remuneration and social security | 45 | €54,173 | €107,759 | +€53,586 | +98.9% |
| Taxes | 450/3 | €41,185 | €74,655 | +€33,470 | +81.3% |
| Remuneration and social security | 454/9 | €12,988 | €33,104 | +€20,116 | +155% |
| Other amounts payable | 47/48 | €223,868 | €436,522 | +€212,654 | +95.0% |
| Non-recurring operating income | 76A | - | €1,130 | +€1,130 | |
| Remuneration, social security and pensions | 62 | €98,671 | €189,982 | +€91,312 | +92.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,745 | €11,606 | +€3,861 | +49.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€20,749 | -€33,088 | -€12,339 | -59.5% |
| Other operating charges | 640/8 | €13,646 | €17,414 | +€3,768 | +27.6% |
| Non-recurring operating charges | 66A | €10,147 | - | -€10,147 | |
| Gross operating margin | 9900 | €341,437 | €524,337 | +€182,901 | +53.6% |
| Operating profit (loss) | 9901 | €231,977 | €338,424 | +€106,446 | +45.9% |
| Financial income | 75/76B | €774 | €8,430 | +€7,656 | +989% |
| Recurring financial income | 75 | €774 | €8,430 | +€7,656 | +989% |
| Financial charges | 65/66B | €759 | €1,290 | +€531 | +70.0% |
| Recurring financial charges | 65 | €759 | €1,290 | +€531 | +70.0% |
| Profit (loss) for the period before taxes | 9903 | €231,993 | €345,564 | +€113,571 | +49.0% |
| Income taxes | 67/77 | €60,259 | €91,954 | +€31,695 | +52.6% |
| Profit (loss) for the period | 9904 | €171,734 | €253,610 | +€81,876 | +47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €171,734 | €253,610 | +€81,876 | +47.7% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.