BLUE SPARKLE: 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 SPARKLE
Largest movements
- Tangible fixed assets +€196,746
up €196,746 (+6,421%), from €3,064 to €199,810
of which Land and buildings: +€192,213
- Current investments +€75,059
new in 2025: €75,059
- Receivables within one year +€23,121
up €23,121 (+109%), from €21,222 to €44,343
of which Trade receivables: +€17,082
- Deferred charges and accrued income -€8,847
no longer reported in 2025 (was €8,847)
- Cash -€7,273
down €7,273 (-6.5%), from €111,232 to €103,959
mainly Investment in fixed assets (net) (-€224,719) and Current investments (-€75,059)
- Debts after one year +€144,600
new in 2025: €144,600
- Reserves +€100,984
up €100,984 (+71.9%), from €140,460 to €241,444
- Short-term financial debts +€13,587
new in 2025: €13,587
- Tax, wage and social debts +€9,324
new in 2025: €9,324
- Current portion of long-term debt +€8,193
new in 2025: €8,193
- Gross operating margin +€140,353
up €140,353 (+287%), from €48,895 to €189,248
- Taxes +€29,944
up €29,944 (+222%), from €13,491 to €43,435
- Depreciation +€27,333
up €27,333 (+4,273%), from €640 to €27,973
- Write-downs +€6,681
new in 2025: €6,681
- Financial charges +€3,093
up €3,093 (+86.5%), from €3,574 to €6,668
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 | €144,365 | €423,171 | +€278,806 | +193% |
| Fixed assets | 21/28 | €3,064 | €199,810 | +€196,746 | +6,421% |
| Tangible fixed assets | 22/27 | €3,064 | €199,810 | +€196,746 | +6,421% |
| Land and buildings | 22 | - | €192,213 | +€192,213 | |
| Plant, machinery and equipment | 23 | €2,974 | €7,597 | +€4,623 | +155% |
| Furniture and vehicles | 24 | €90 | - | -€90 | |
| Current assets | 29/58 | €141,301 | €223,361 | +€82,060 | +58.1% |
| Amounts receivable within one year | 40/41 | €21,222 | €44,343 | +€23,121 | +109% |
| Trade receivables | 40 | €1,978 | €19,060 | +€17,082 | +864% |
| Other amounts receivable | 41 | €19,244 | €25,283 | +€6,039 | +31.4% |
| Current investments | 50/53 | - | €75,059 | +€75,059 | |
| Cash at bank and in hand | 54/58 | €111,232 | €103,959 | -€7,273 | -6.5% |
| Deferred charges and accrued income | 490/1 | €8,847 | - | -€8,847 | |
| Total equity and liabilities | 10/49 | €144,365 | €423,171 | +€278,806 | +193% |
| Equity | 10/15 | €141,460 | €242,444 | +€100,984 | +71.4% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €140,460 | €241,444 | +€100,984 | +71.9% |
| Distributable reserves | 133 | €140,460 | €241,444 | +€100,984 | +71.9% |
| Amounts payable | 17/49 | €2,905 | €180,727 | +€177,822 | +6,121% |
| Amounts payable after more than one year | 17 | - | €144,600 | +€144,600 | |
| Financial debts | 170/4 | - | €144,600 | +€144,600 | |
| Amounts payable within one year | 42/48 | €2,905 | €36,127 | +€33,222 | +1,144% |
| Current portion of amounts payable after more than one year | 42 | - | €8,193 | +€8,193 | |
| Financial debts | 43 | - | €13,587 | +€13,587 | |
| Credit institutions | 430/8 | - | €13,587 | +€13,587 | |
| Trade debts | 44 | €1,305 | €3,357 | +€2,051 | +157% |
| Suppliers | 440/4 | €1,305 | €3,357 | +€2,051 | +157% |
| Taxes, remuneration and social security | 45 | - | €9,324 | +€9,324 | |
| Taxes | 450/3 | - | €9,324 | +€9,324 | |
| Other amounts payable | 47/48 | €1,600 | €1,666 | +€66 | +4.1% |
| Non-recurring operating income | 76A | €4,531 | - | -€4,531 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €640 | €27,973 | +€27,333 | +4,273% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €6,681 | +€6,681 | |
| Other operating charges | 640/8 | €2,705 | €2,727 | +€22 | +0.8% |
| Gross operating margin | 9900 | €48,895 | €189,248 | +€140,353 | +287% |
| Operating profit (loss) | 9901 | €45,551 | €151,867 | +€106,316 | +233% |
| Financial income | 75/76B | €194 | €886 | +€691 | +356% |
| Recurring financial income | 75 | €194 | €886 | +€691 | +356% |
| Financial charges | 65/66B | €3,574 | €6,668 | +€3,093 | +86.5% |
| Recurring financial charges | 65 | €3,574 | €6,668 | +€3,093 | +86.5% |
| Profit (loss) for the period before taxes | 9903 | €42,171 | €146,085 | +€103,914 | +246% |
| Income taxes | 67/77 | €13,491 | €43,435 | +€29,944 | +222% |
| Profit (loss) for the period | 9904 | €28,679 | €102,650 | +€73,971 | +258% |
| Profit (loss) for the period to be appropriated | 9905 | €28,679 | €102,650 | +€73,971 | +258% |
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 16 October 2026 via checked.be.