BLUE SKY: 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 SKY
Largest movements
- Cash -€30,075
down €30,075 (-18.2%), from €165,129 to €135,054
mainly Net result for the year (-€30,319) and Current investments (-€15,000)
- Current investments +€15,000
new in 2025: €15,000
- Tangible fixed assets -€8,642
down €8,642 (-11.8%), from €72,966 to €64,324
of which Land and buildings: -€5,364
- Financial fixed assets -€6,900
down €6,900 (-61.7%), from €11,181 to €4,281
- Profit (loss) carried forward -€30,319
down €30,319 (-19.9%), from €152,011 to €121,692
- Trade debts -€2,860
down €2,860 (-55.5%), from €5,151 to €2,291
- Gross operating margin +€8,468
up €8,468 (+52.0%), from -€16,297 to -€7,829
- Depreciation -€7,835
down €7,835 (-24.7%), from €31,661 to €23,826
- Financial income +€2,339
up €2,339 (+761.9%), from €307 to €2,646
- Other operating charges -€701
down €701 (-54.6%), from €1,284 to €583
- Financial charges +€427
up €427 (+142.3%), from €300 to €727
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 | €276,486 | €244,845 | -€31,641 | -11.4% |
| Fixed assets | 21/28 | €86,647 | €71,105 | -€15,542 | -17.9% |
| Intangible fixed assets | 21 | €2,500 | €2,500 | = | 0.0% |
| Tangible fixed assets | 22/27 | €72,966 | €64,324 | -€8,642 | -11.8% |
| Land and buildings | 22 | €31,499 | €26,135 | -€5,364 | -17.0% |
| Plant, machinery and equipment | 23 | €1,230 | €798 | -€432 | -35.1% |
| Furniture and vehicles | 24 | €40,237 | €37,391 | -€2,846 | -7.1% |
| Financial fixed assets | 28 | €11,181 | €4,281 | -€6,900 | -61.7% |
| Current assets | 29/58 | €189,839 | €173,740 | -€16,099 | -8.5% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,710 | €3,686 | -€1,024 | -21.7% |
| Trade receivables | 40 | €3,699 | €2,838 | -€861 | -23.3% |
| Other amounts receivable | 41 | €1,011 | €848 | -€163 | -16.1% |
| Current investments | 50/53 | - | €15,000 | +€15,000 | |
| Cash at bank and in hand | 54/58 | €165,129 | €135,054 | -€30,075 | -18.2% |
| Total equity and liabilities | 10/49 | €276,486 | €244,845 | -€31,641 | -11.4% |
| Equity | 10/15 | €269,915 | €239,596 | -€30,319 | -11.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | - | -€62,000 | |
| Issued capital | 100 | €62,000 | - | -€62,000 | |
| Reserves | 13 | €55,904 | €55,904 | = | 0.0% |
| Tax-exempt reserves | 132 | €5,904 | €5,904 | = | 0.0% |
| Distributable reserves | 133 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €152,011 | €121,692 | -€30,319 | -19.9% |
| Amounts payable | 17/49 | €6,571 | €5,249 | -€1,322 | -20.1% |
| Amounts payable within one year | 42/48 | €6,571 | €5,249 | -€1,322 | -20.1% |
| Current portion of amounts payable after more than one year | 42 | - | €1,038 | +€1,038 | |
| Trade debts | 44 | €5,151 | €2,291 | -€2,860 | -55.5% |
| Suppliers | 440/4 | €5,151 | €2,291 | -€2,860 | -55.5% |
| Taxes, remuneration and social security | 45 | €1,420 | €1,807 | +€387 | +27.3% |
| Taxes | 450/3 | - | €406 | +€406 | |
| Remuneration and social security | 454/9 | €1,420 | €1,401 | -€19 | -1.3% |
| Other amounts payable | 47/48 | - | €113 | +€113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,661 | €23,826 | -€7,835 | -24.7% |
| Other operating charges | 640/8 | €1,284 | €583 | -€701 | -54.6% |
| Gross operating margin | 9900 | -€16,297 | -€7,829 | +€8,468 | +52.0% |
| Operating profit (loss) | 9901 | -€49,242 | -€32,238 | +€17,004 | +34.5% |
| Financial income | 75/76B | €307 | €2,646 | +€2,339 | +761.9% |
| Recurring financial income | 75 | €307 | €2,646 | +€2,339 | +761.9% |
| Financial charges | 65/66B | €300 | €727 | +€427 | +142.3% |
| Recurring financial charges | 65 | €300 | €727 | +€427 | +142.3% |
| Profit (loss) for the period before taxes | 9903 | -€49,235 | -€30,319 | +€18,916 | +38.4% |
| Income taxes | 67/77 | €246 | - | -€246 | |
| Profit (loss) for the period | 9904 | -€49,481 | -€30,319 | +€19,162 | +38.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€49,481 | -€30,319 | +€19,162 | +38.7% |
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 9 October 2026 via checked.be.