BLUE STORKS: 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.
BLUE STORKS
Largest movements
- Cash -€129,648
down €129,648 (-31.6%), from €410,019 to €280,371
mainly Debts after one year (-€163,134) and Stocks and contracts (-€117,583)
- Stocks and contracts +€117,583
up €117,583 (+15.3%), from €768,123 to €885,705
- Receivables within one year +€24,079
up €24,079 (+21.2%), from €113,502 to €137,580
of which Trade receivables: +€19,030
- Profit (loss) carried forward +€198,124
up €198,124 (+23.9%), from €829,748 to €1.0m
- Debts after one year -€163,134
down €163,134 (-28.1%), from €580,793 to €417,658
- Current portion of long-term debt -€35,473
down €35,473 (-22.4%), from €158,550 to €123,078
- Tax, wage and social debts -€32,814
down €32,814 (-29.2%), from €112,542 to €79,728
of which Remuneration and social security: -€26,647
- Trade debts -€26,538
down €26,538 (-8.9%), from €298,911 to €272,373
- Gross operating margin +€275,396
up €275,396 (+43.2%), from €638,047 to €913,443
- Financial charges +€115,892
up €115,892 (+285.9%), from €40,542 to €156,434
- Taxes +€45,646
up €45,646 (+255.4%), from €17,873 to €63,520
- Staff costs -€33,247
down €33,247 (-6.9%), from €480,368 to €447,120
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 | €2,001,903 | €1,977,837 | -€24,066 | -1.2% |
| Fixed assets | 21/28 | €645,121 | €623,218 | -€21,903 | -3.4% |
| Intangible fixed assets | 21 | €12,213 | €7,213 | -€5,000 | -40.9% |
| Tangible fixed assets | 22/27 | €611,206 | €594,303 | -€16,903 | -2.8% |
| Land and buildings | 22 | €444,985 | €428,144 | -€16,840 | -3.8% |
| Plant, machinery and equipment | 23 | €5,356 | €8,565 | +€3,209 | +59.9% |
| Furniture and vehicles | 24 | €12,589 | €20,330 | +€7,742 | +61.5% |
| Other tangible fixed assets | 26 | €148,276 | €137,263 | -€11,014 | -7.4% |
| Financial fixed assets | 28 | €21,702 | €21,702 | = | 0.0% |
| Current assets | 29/58 | €1,356,782 | €1,354,619 | -€2,163 | -0.2% |
| Stocks and contracts in progress | 3 | €768,123 | €885,705 | +€117,583 | +15.3% |
| Stocks | 30/36 | €768,123 | €885,705 | +€117,583 | +15.3% |
| Amounts receivable within one year | 40/41 | €113,502 | €137,580 | +€24,079 | +21.2% |
| Trade receivables | 40 | €89,514 | €108,543 | +€19,030 | +21.3% |
| Other amounts receivable | 41 | €23,988 | €29,037 | +€5,049 | +21.0% |
| Cash at bank and in hand | 54/58 | €410,019 | €280,371 | -€129,648 | -31.6% |
| Deferred charges and accrued income | 490/1 | €65,139 | €50,963 | -€14,176 | -21.8% |
| Total equity and liabilities | 10/49 | €2,001,903 | €1,977,837 | -€24,066 | -1.2% |
| Equity | 10/15 | €850,208 | €1,048,332 | +€198,124 | +23.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €829,748 | €1,027,872 | +€198,124 | +23.9% |
| Amounts payable | 17/49 | €1,151,696 | €929,505 | -€222,190 | -19.3% |
| Amounts payable after more than one year | 17 | €580,793 | €417,658 | -€163,134 | -28.1% |
| Financial debts | 170/4 | €580,793 | €417,658 | -€163,134 | -28.1% |
| Amounts payable within one year | 42/48 | €570,003 | €506,264 | -€63,739 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €158,550 | €123,078 | -€35,473 | -22.4% |
| Financial debts | 43 | €0 | €15,000 | +€15,000 | |
| Credit institutions | 430/8 | €0 | €15,000 | +€15,000 | |
| Trade debts | 44 | €298,911 | €272,373 | -€26,538 | -8.9% |
| Suppliers | 440/4 | €298,911 | €272,373 | -€26,538 | -8.9% |
| Advances received on contracts in progress | 46 | - | €12,498 | +€12,498 | |
| Taxes, remuneration and social security | 45 | €112,542 | €79,728 | -€32,814 | -29.2% |
| Taxes | 450/3 | €32,580 | €26,413 | -€6,167 | -18.9% |
| Remuneration and social security | 454/9 | €79,962 | €53,315 | -€26,647 | -33.3% |
| Other amounts payable | 47/48 | €0 | €3,587 | +€3,587 | |
| Accrued charges and deferred income | 492/3 | €900 | €5,583 | +€4,683 | +520.4% |
| Non-recurring operating income | 76A | - | €152 | +€152 | |
| Remuneration, social security and pensions | 62 | €480,368 | €447,120 | -€33,247 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,651 | €59,405 | +€6,754 | +12.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €474 | €0 | -€474 | -100.0% |
| Other operating charges | 640/8 | €16,323 | €10,769 | -€5,555 | -34.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €638,047 | €913,443 | +€275,396 | +43.2% |
| Operating profit (loss) | 9901 | €88,231 | €396,149 | +€307,918 | +349.0% |
| Financial income | 75/76B | €14,773 | €21,928 | +€7,155 | +48.4% |
| Recurring financial income | 75 | €14,773 | €21,928 | +€7,155 | +48.4% |
| Financial charges | 65/66B | €40,542 | €156,434 | +€115,892 | +285.9% |
| Recurring financial charges | 65 | €40,542 | €156,434 | +€115,892 | +285.9% |
| Profit (loss) for the period before taxes | 9903 | €62,462 | €261,644 | +€199,182 | +318.9% |
| Income taxes | 67/77 | €17,873 | €63,520 | +€45,646 | +255.4% |
| Profit (loss) for the period | 9904 | €44,589 | €198,124 | +€153,535 | +344.3% |
| Profit (loss) for the period to be appropriated | 9905 | €44,589 | €198,124 | +€153,535 | +344.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.