BLUE TRACK: 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 TRACK
Largest movements
- Cash -€139,133
down €139,133 (-57.9%), from €240,229 to €101,095
mainly Contributions, distributions and other (-€168,421) and Receivables within one year (-€25,735)
- Receivables within one year +€25,735
up €25,735 (+44.8%), from €57,507 to €83,242
of which Trade receivables: +€24,438
- Tangible fixed assets +€21,425
up €21,425 (+537%), from €3,990 to €25,416
of which Furniture and vehicles: +€21,500
- Reserves -€83,302
down €83,302 (-15.0%), from €554,150 to €470,848
- Depreciation +€3,576
up €3,576 (+1,237%), from €289 to €3,866
- Gross operating margin +€2,665
up €2,665 (+2.1%), from €125,766 to €128,431
- Financial income -€2,462
down €2,462 (-94.6%), from €2,604 to €141
of which Financial income: -€2,454
- Taxes -€1,778
down €1,778 (-4.4%), from €40,505 to €38,726
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 | €600,741 | €509,553 | -€91,188 | -15.2% |
| Fixed assets | 21/28 | €4,170 | €25,596 | +€21,425 | +514% |
| Tangible fixed assets | 22/27 | €3,990 | €25,416 | +€21,425 | +537% |
| Furniture and vehicles | 24 | €2,862 | €24,363 | +€21,500 | +751% |
| Other tangible fixed assets | 26 | €1,128 | €1,053 | -€75 | -6.7% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €596,570 | €483,957 | -€112,613 | -18.9% |
| Amounts receivable within one year | 40/41 | €57,507 | €83,242 | +€25,735 | +44.8% |
| Trade receivables | 40 | €57,499 | €81,937 | +€24,438 | +42.5% |
| Other amounts receivable | 41 | €8 | €1,304 | +€1,297 | +17,155% |
| Current investments | 50/53 | €298,732 | €298,732 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €240,229 | €101,095 | -€139,133 | -57.9% |
| Deferred charges and accrued income | 490/1 | €103 | €888 | +€785 | +765% |
| Total equity and liabilities | 10/49 | €600,741 | €509,553 | -€91,188 | -15.2% |
| Equity | 10/15 | €562,965 | €477,803 | -€85,162 | -15.1% |
| Contributions | 10/11 | €8,060 | €6,200 | -€1,860 | -23.1% |
| Reserves | 13 | €554,150 | €470,848 | -€83,302 | -15.0% |
| Distributable reserves | 133 | €554,150 | €470,848 | -€83,302 | -15.0% |
| Profit (loss) carried forward | 14 | €755 | €755 | = | 0.0% |
| Amounts payable | 17/49 | €37,776 | €31,750 | -€6,026 | -16.0% |
| Amounts payable within one year | 42/48 | €37,776 | €31,750 | -€6,026 | -16.0% |
| Trade debts | 44 | €1,058 | €1,502 | +€444 | +42.0% |
| Suppliers | 440/4 | €1,058 | €1,502 | +€444 | +42.0% |
| Taxes, remuneration and social security | 45 | €8,786 | €5,012 | -€3,774 | -43.0% |
| Taxes | 450/3 | €8,786 | €5,012 | -€3,774 | -43.0% |
| Other amounts payable | 47/48 | €27,933 | €25,236 | -€2,697 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289 | €3,866 | +€3,576 | +1,237% |
| Other operating charges | 640/8 | €753 | €814 | +€61 | +8.1% |
| Gross operating margin | 9900 | €125,766 | €128,431 | +€2,665 | +2.1% |
| Operating profit (loss) | 9901 | €124,723 | €123,751 | -€972 | -0.8% |
| Financial income | 75/76B | €2,604 | €141 | -€2,462 | -94.6% |
| Recurring financial income | 75 | €2,595 | €141 | -€2,454 | -94.6% |
| Non-recurring financial income | 76B | €9 | - | -€9 | |
| Financial charges | 65/66B | €2,291 | €1,907 | -€385 | -16.8% |
| Recurring financial charges | 65 | €2,291 | €1,907 | -€385 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €125,036 | €121,986 | -€3,050 | -2.4% |
| Income taxes | 67/77 | €40,505 | €38,726 | -€1,778 | -4.4% |
| Profit (loss) for the period | 9904 | €84,531 | €83,259 | -€1,272 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €84,531 | €83,259 | -€1,272 | -1.5% |
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 20 October 2026 via checked.be.