BLUE STORES: what changed
Two fiscal 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.
What changed
BLUE STORES
NACE 46.423, Wholesale of clothing, excluding workwear and underwear
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€2.0m
2025 · €1.2m+€815,265
Equity
€3.1m
2025 · €3.5m-€456,616
Cash
€4.8m
2025 · €2.8m+€2.0m
Balance sheet total
€24.6m
2025 · €22.5m+€2.1m
Largest movements
Assets
- Cash +€2.0m
up €2.0m (+71.6%), from €2.8m to €4.8m
mainly Net result for the year (+€2.0m) and Other debts (+€1.5m)
- Receivables within one year -€446,128
down €446,128 (-6.2%), from €7.2m to €6.8m
of which Trade receivables: -€415,992
- Stocks and contracts +€372,702
up €372,702 (+4.8%), from €7.8m to €8.2m
Equity and liabilities
- Other debts +€1.5m
up €1.5m (+15.2%), from €9.7m to €11.2m
- Short-term financial debts +€547,988
up €547,988 (+291.2%), from €188,157 to €736,145
- Trade debts +€459,300
up €459,300 (+5.7%), from €8.0m to €8.5m
- Profit (loss) carried forward -€456,616
down €456,616 (-21.2%), from €2.2m to €1.7m
Income statement
- Turnover +€2.7m
up €2.7m (+5.1%), from €51.7m to €54.4m
- Services and other goods +€607,142
up €607,142 (+3.8%), from €15.9m to €16.5m
From the 2025 result to the 2026 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.
Result 2025
€1.2m
Turnover
+€2.7m
Other operating income
-€15,487
Goods and materials
+€253,812
Services and other goods
-€607,142
Staff costs
-€413,053
Depreciation
-€227,435
Write-downs
+€56,438
Other operating charges
-€5,299
Other operating items
-€7,576
Financial income
-€15,912
Financial charges
-€538,697
Taxes
-€314,813
Result 2026
€2.0m
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€4.6m
Investment
-€609,056
Financing
-€2.0m
Cash 2025
€2.8m
From operations (derived)
+€4.6m
Net result for the year
+€2.0m
Depreciation
+€534,573
Receivables after one year
-€114,460
Stocks and contracts
-€372,702
Receivables within one year
+€446,128
Deferred charges and accrued income
+€6,875
Trade debts
+€459,300
Tax, wage and social debts
+€93,575
Other debts
+€1.5m
Accrued charges and deferred income
-€1,237
Investment (derived)
-€609,056
Investment in fixed assets (net)
-€609,056
Financing
-€2.0m
Short-term financial debts
+€547,988
Contributions, distributions and other
-€2.5m
Cash 2026
€4.8m
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €22,520,783 | €24,640,634 | +€2.1m | +9.4% |
| Fixed assets | 21/28 | €1,684,750 | €1,759,232 | +€74,483 | +4.4% |
| Intangible fixed assets | 21 | €1,316,764 | €1,375,438 | +€58,674 | +4.5% |
| Tangible fixed assets | 22/27 | €367,847 | €383,655 | +€15,808 | +4.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €211,565 | €367,216 | +€155,651 | +73.6% |
| Other tangible fixed assets | 26 | €3,272 | €13,076 | +€9,804 | +299.6% |
| Assets under construction and advance payments | 27 | €153,009 | €3,363 | -€149,646 | -97.8% |
| Financial fixed assets | 28 | €138 | €138 | = | 0.0% |
| Other financial fixed assets | 284/8 | €138 | €138 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €138 | €138 | = | 0.0% |
| Current assets | 29/58 | €20,836,034 | €22,881,402 | +€2.0m | +9.8% |
| Amounts receivable after more than one year | 29 | €2,934,894 | €3,049,354 | +€114,460 | +3.9% |
| Other amounts receivable | 291 | €2,934,894 | €3,049,354 | +€114,460 | +3.9% |
| Stocks and contracts in progress | 3 | €7,793,216 | €8,165,917 | +€372,702 | +4.8% |
| Stocks | 30/36 | €7,793,216 | €8,165,917 | +€372,702 | +4.8% |
| Raw materials and consumables | 30/31 | €234,350 | €271,784 | +€37,434 | +16.0% |
| Goods purchased for resale | 34 | €7,558,866 | €7,894,134 | +€335,268 | +4.4% |
| Amounts receivable within one year | 40/41 | €7,224,931 | €6,778,803 | -€446,128 | -6.2% |
| Trade receivables | 40 | €2,848,824 | €2,432,832 | -€415,992 | -14.6% |
| Other amounts receivable | 41 | €4,376,107 | €4,345,971 | -€30,136 | -0.7% |
| Cash at bank and in hand | 54/58 | €2,807,736 | €4,818,946 | +€2.0m | +71.6% |
| Deferred charges and accrued income | 490/1 | €75,257 | €68,382 | -€6,875 | -9.1% |
| Total equity and liabilities | 10/49 | €22,520,783 | €24,640,634 | +€2.1m | +9.4% |
| Equity | 10/15 | €3,519,853 | €3,063,236 | -€456,616 | -13.0% |
| Contributions | 10/11 | €79,249 | €79,249 | = | 0.0% |
| Capital | 10 | €79,249 | €79,249 | = | 0.0% |
| Issued capital | 100 | €230,570 | €230,570 | = | 0.0% |
| Uncalled capital | 101 | €151,321 | €151,321 | = | 0.0% |
| Reserves | 13 | €1,287,335 | €1,287,335 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,057 | €23,057 | = | 0.0% |
| Legal reserve | 130 | €23,057 | €23,057 | = | 0.0% |
| Tax-exempt reserves | 132 | €421,000 | €421,000 | = | 0.0% |
| Distributable reserves | 133 | €843,278 | €843,278 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,153,269 | €1,696,653 | -€456,616 | -21.2% |
| Amounts payable | 17/49 | €19,000,931 | €21,577,398 | +€2.6m | +13.6% |
| Amounts payable after more than one year | 17 | €55,501 | €55,501 | = | 0.0% |
| Financial debts | 170/4 | €55,501 | €55,501 | = | 0.0% |
| Other loans | 174 | €55,501 | €55,501 | = | 0.0% |
| Amounts payable within one year | 42/48 | €18,929,901 | €21,507,606 | +€2.6m | +13.6% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Financial debts | 43 | €188,157 | €736,145 | +€547,988 | +291.2% |
| Credit institutions | 430/8 | €188,157 | €736,145 | +€547,988 | +291.2% |
| Trade debts | 44 | €8,005,338 | €8,464,638 | +€459,300 | +5.7% |
| Suppliers | 440/4 | €8,005,338 | €8,464,638 | +€459,300 | +5.7% |
| Taxes, remuneration and social security | 45 | €1,044,986 | €1,138,561 | +€93,575 | +9.0% |
| Taxes | 450/3 | €650,790 | €666,187 | +€15,397 | +2.4% |
| Remuneration and social security | 454/9 | €394,195 | €472,374 | +€78,179 | +19.8% |
| Other amounts payable | 47/48 | €9,691,421 | €11,168,262 | +€1.5m | +15.2% |
| Accrued charges and deferred income | 492/3 | €15,528 | €14,291 | -€1,237 | -8.0% |
| Operating income | 70/76A | €51,929,836 | €54,562,217 | +€2.6m | +5.1% |
| Turnover | 70 | €51,711,634 | €54,362,064 | +€2.7m | +5.1% |
| Other operating income | 74 | €215,639 | €200,153 | -€15,487 | -7.2% |
| Non-recurring operating income | 76A | €2,562 | - | -€2,562 | |
| Operating charges | 60/66A | €50,555,333 | €51,503,025 | +€947,693 | +1.9% |
| Goods for resale, raw materials and consumables | 60 | €31,482,724 | €31,228,912 | -€253,812 | -0.8% |
| Purchases | 600/8 | €31,937,425 | €31,601,614 | -€335,811 | -1.1% |
| Change in stocks: decrease (increase) | 609 | -€454,701 | -€372,702 | +€81,999 | +18.0% |
| Services and other goods | 61 | €15,871,163 | €16,478,304 | +€607,142 | +3.8% |
| Remuneration, social security and pensions | 62 | €2,806,005 | €3,219,058 | +€413,053 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €307,138 | €534,573 | +€227,435 | +74.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €76,700 | €20,261 | -€56,438 | -73.6% |
| Other operating charges | 640/8 | €8,640 | €13,939 | +€5,299 | +61.3% |
| Non-recurring operating charges | 66A | €2,964 | €7,978 | +€5,014 | +169.2% |
| Operating profit (loss) | 9901 | €1,374,503 | €3,059,191 | +€1.7m | +122.6% |
| Financial income | 75/76B | €185,868 | €169,956 | -€15,912 | -8.6% |
| Recurring financial income | 75 | €185,868 | €169,956 | -€15,912 | -8.6% |
| Income from financial fixed assets | 750 | - | €133,440 | +€133,440 | |
| Income from current assets | 751 | €148,295 | €4,599 | -€143,696 | -96.9% |
| Other financial income | 752/9 | €37,573 | €31,917 | -€5,655 | -15.1% |
| Financial charges | 65/66B | -€106,725 | €431,972 | +€538,697 | |
| Recurring financial charges | 65 | -€106,725 | €431,972 | +€538,697 | |
| Debt charges | 650 | €122,240 | €276,515 | +€154,275 | +126.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€408,051 | €139,909 | +€547,960 | |
| Other financial charges | 652/9 | €179,086 | €15,548 | -€163,537 | -91.3% |
| Profit (loss) for the period before taxes | 9903 | €1,667,097 | €2,797,175 | +€1.1m | +67.8% |
| Income taxes | 67/77 | €438,978 | €753,791 | +€314,813 | +71.7% |
| Taxes | 670/3 | €442,290 | €753,791 | +€311,501 | +70.4% |
| Tax adjustments and reversals of tax provisions | 77 | €3,312 | - | -€3,312 | |
| Profit (loss) for the period | 9904 | €1,228,119 | €2,043,384 | +€815,265 | +66.4% |
| Transfer to tax-exempt reserves | 689 | €421,000 | - | -€421,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €807,119 | €2,043,384 | +€1.2m | +153.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.