Blue Salt: 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 Salt
Largest movements
- Tangible fixed assets +€450,897
up €450,897 (+277%), from €162,871 to €613,769
of which Plant, machinery and equipment: +€583,533
- Receivables within one year -€337,714
down €337,714 (-66.9%), from €504,930 to €167,216
of which Trade receivables: -€335,319
- Cash -€15,630
down €15,630 (-99.8%), from €15,656 to €26
mainly Investment in fixed assets (net) (-€460,751) and Net result for the year (-€113,261)
- Debts after one year +€190,817
up €190,817 (+37.4%), from €510,000 to €700,817
of which Financial debts: +€700,817
- Profit (loss) carried forward -€113,261
down €113,261 (-160%), from -€70,680 to -€183,942
- Trade debts +€15,744
up €15,744 (+303%), from €5,197 to €20,941
- Financial income -€33,897
down €33,897 (-99.7%), from €33,996 to €98
- Gross operating margin -€7,791
down €7,791 (-8.3%), from -€93,953 to -€101,744
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 | €683,810 | €781,146 | +€97,336 | +14.2% |
| Fixed assets | 21/28 | €162,871 | €613,769 | +€450,897 | +277% |
| Tangible fixed assets | 22/27 | €162,871 | €613,769 | +€450,897 | +277% |
| Plant, machinery and equipment | 23 | - | €583,533 | +€583,533 | |
| Furniture and vehicles | 24 | €40,090 | €30,236 | -€9,854 | -24.6% |
| Assets under construction and advance payments | 27 | €122,782 | - | -€122,782 | |
| Current assets | 29/58 | €520,939 | €167,377 | -€353,562 | -67.9% |
| Amounts receivable within one year | 40/41 | €504,930 | €167,216 | -€337,714 | -66.9% |
| Trade receivables | 40 | €335,319 | - | -€335,319 | |
| Other amounts receivable | 41 | €169,612 | €167,216 | -€2,396 | -1.4% |
| Cash at bank and in hand | 54/58 | €15,656 | €26 | -€15,630 | -99.8% |
| Deferred charges and accrued income | 490/1 | €352 | €135 | -€217 | -61.7% |
| Total equity and liabilities | 10/49 | €683,810 | €781,146 | +€97,336 | +14.2% |
| Equity | 10/15 | -€58,680 | -€171,942 | -€113,261 | -193% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,680 | -€183,942 | -€113,261 | -160% |
| Amounts payable | 17/49 | €742,490 | €953,087 | +€210,597 | +28.4% |
| Amounts payable after more than one year | 17 | €510,000 | €700,817 | +€190,817 | +37.4% |
| Financial debts | 170/4 | - | €700,817 | +€700,817 | |
| Other amounts payable | 178/9 | €510,000 | - | -€510,000 | |
| Amounts payable within one year | 42/48 | €5,331 | €26,311 | +€20,980 | +394% |
| Trade debts | 44 | €5,197 | €20,941 | +€15,744 | +303% |
| Suppliers | 440/4 | €5,197 | €20,941 | +€15,744 | +303% |
| Taxes, remuneration and social security | 45 | €133 | €268 | +€135 | +101% |
| Taxes | 450/3 | €133 | €268 | +€135 | +101% |
| Other amounts payable | 47/48 | - | €5,102 | +€5,102 | |
| Accrued charges and deferred income | 492/3 | €227,160 | €225,960 | -€1,200 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,179 | €9,854 | +€675 | +7.4% |
| Other operating charges | 640/8 | €930 | €1,402 | +€472 | +50.8% |
| Gross operating margin | 9900 | -€93,953 | -€101,744 | -€7,791 | -8.3% |
| Operating profit (loss) | 9901 | -€104,061 | -€113,000 | -€8,939 | -8.6% |
| Financial income | 75/76B | €33,996 | €98 | -€33,897 | -99.7% |
| Recurring financial income | 75 | €33,996 | €98 | -€33,897 | -99.7% |
| Financial charges | 65/66B | €481 | €225 | -€256 | -53.3% |
| Recurring financial charges | 65 | €481 | €225 | -€256 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | -€70,547 | -€113,127 | -€42,580 | -60.4% |
| Income taxes | 67/77 | €133 | €135 | +€2 | +1.2% |
| Profit (loss) for the period | 9904 | -€70,680 | -€113,261 | -€42,581 | -60.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€70,680 | -€113,261 | -€42,581 | -60.2% |
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 28 October 2026 via checked.be.