Blue Wave Line: 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 Wave Line
Largest movements
- Cash +€4,852
up €4,852 (+9.7%), from €49,829 to €54,681
mainly Net result for the year (+€7,689) and Receivables within one year (+€3,990)
- Receivables within one year -€3,990
down €3,990 (-11.6%), from €34,397 to €30,407
of which Trade receivables: -€3,573
- Profit (loss) carried forward +€7,689
up €7,689 (+25.2%), from €30,451 to €38,140
- Trade debts -€3,446
down €3,446 (-62.7%), from €5,499 to €2,053
- Accrued charges and deferred income -€3,376
down €3,376 (-86.7%), from €3,896 to €520
- Gross operating margin +€5,499
up €5,499 (+129%), from €4,259 to €9,758
- Financial charges +€1,057
up €1,057 (+114%), from €928 to €1,985
- Other operating charges -€436
down €436 (-57.7%), from €756 to €320
- Financial income -€228
down €228 (-49.2%), from €464 to €235
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 | €107,496 | €108,363 | +€867 | +0.8% |
| Fixed assets | 21/28 | €22,980 | €22,980 | = | 0.0% |
| Financial fixed assets | 28 | €22,980 | €22,980 | = | 0.0% |
| Current assets | 29/58 | €84,516 | €85,383 | +€867 | +1.0% |
| Amounts receivable within one year | 40/41 | €34,397 | €30,407 | -€3,990 | -11.6% |
| Trade receivables | 40 | €33,394 | €29,821 | -€3,573 | -10.7% |
| Other amounts receivable | 41 | €1,003 | €586 | -€417 | -41.6% |
| Cash at bank and in hand | 54/58 | €49,829 | €54,681 | +€4,852 | +9.7% |
| Deferred charges and accrued income | 490/1 | €290 | €295 | +€5 | +1.7% |
| Total equity and liabilities | 10/49 | €107,496 | €108,363 | +€867 | +0.8% |
| Equity | 10/15 | €98,101 | €105,790 | +€7,689 | +7.8% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,451 | €38,140 | +€7,689 | +25.2% |
| Amounts payable | 17/49 | €9,395 | €2,573 | -€6,822 | -72.6% |
| Amounts payable within one year | 42/48 | €5,499 | €2,053 | -€3,446 | -62.7% |
| Trade debts | 44 | €5,499 | €2,053 | -€3,446 | -62.7% |
| Suppliers | 440/4 | €5,499 | €2,053 | -€3,446 | -62.7% |
| Accrued charges and deferred income | 492/3 | €3,896 | €520 | -€3,376 | -86.7% |
| Other operating charges | 640/8 | €756 | €320 | -€436 | -57.7% |
| Gross operating margin | 9900 | €4,259 | €9,758 | +€5,499 | +129% |
| Operating profit (loss) | 9901 | €3,503 | €9,438 | +€5,935 | +169% |
| Financial income | 75/76B | €464 | €235 | -€228 | -49.2% |
| Recurring financial income | 75 | €464 | €235 | -€228 | -49.2% |
| Financial charges | 65/66B | €928 | €1,985 | +€1,057 | +114% |
| Recurring financial charges | 65 | €928 | €1,985 | +€1,057 | +114% |
| Profit (loss) for the period before taxes | 9903 | €3,038 | €7,689 | +€4,650 | +153% |
| Profit (loss) for the period | 9904 | €3,038 | €7,689 | +€4,650 | +153% |
| Profit (loss) for the period to be appropriated | 9905 | €3,038 | €7,689 | +€4,650 | +153% |
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.