BLUE WAY: 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 WAY
Largest movements
- Receivables within one year +€19,519
up €19,519 (+33.4%), from €58,355 to €77,874
of which Trade receivables: +€23,114
- Cash +€13,111
up €13,111 (+6.2%), from €209,784 to €222,895
mainly Net result for the year (+€36,698) and Tax, wage and social debts (+€1,917)
- Reserves +€36,000
up €36,000 (+15.1%), from €238,655 to €274,655
of which Distributable reserves: +€36,000
- Other debts -€8,770
no longer reported in 2025 (was €8,770)
- Gross operating margin +€99,146
up €99,146, from -€56,251 to €42,895
- Taxes +€3,468
up €3,468 (+805%), from €431 to €3,899
- Other operating charges -€660
down €660 (-51.1%), from €1,292 to €632
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 | €276,145 | €307,167 | +€31,022 | +11.2% |
| Fixed assets | 21/28 | €7,185 | €6,129 | -€1,056 | -14.7% |
| Tangible fixed assets | 22/27 | €4,056 | €3,000 | -€1,056 | -26.0% |
| Plant, machinery and equipment | 23 | €56 | - | -€56 | |
| Furniture and vehicles | 24 | €4,000 | €3,000 | -€1,000 | -25.0% |
| Financial fixed assets | 28 | €3,129 | €3,129 | = | 0.0% |
| Current assets | 29/58 | €268,960 | €301,038 | +€32,077 | +11.9% |
| Amounts receivable within one year | 40/41 | €58,355 | €77,874 | +€19,519 | +33.4% |
| Trade receivables | 40 | €40,589 | €63,702 | +€23,114 | +56.9% |
| Other amounts receivable | 41 | €17,766 | €14,172 | -€3,595 | -20.2% |
| Cash at bank and in hand | 54/58 | €209,784 | €222,895 | +€13,111 | +6.2% |
| Deferred charges and accrued income | 490/1 | €822 | €269 | -€553 | -67.3% |
| Total equity and liabilities | 10/49 | €276,145 | €307,167 | +€31,022 | +11.2% |
| Equity | 10/15 | €248,333 | €285,032 | +€36,698 | +14.8% |
| Contributions | 10/11 | €9,275 | €9,275 | = | 0.0% |
| Reserves | 13 | €238,655 | €274,655 | +€36,000 | +15.1% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €236,800 | €272,800 | +€36,000 | +15.2% |
| Profit (loss) carried forward | 14 | €403 | €1,102 | +€698 | +173% |
| Amounts payable | 17/49 | €27,811 | €22,135 | -€5,677 | -20.4% |
| Amounts payable within one year | 42/48 | €27,811 | €22,135 | -€5,677 | -20.4% |
| Current portion of amounts payable after more than one year | 42 | €1,000 | €1,000 | = | 0.0% |
| Trade debts | 44 | €9,325 | €10,501 | +€1,176 | +12.6% |
| Suppliers | 440/4 | €9,325 | €10,501 | +€1,176 | +12.6% |
| Taxes, remuneration and social security | 45 | €8,716 | €10,634 | +€1,917 | +22.0% |
| Taxes | 450/3 | €8,716 | €10,634 | +€1,917 | +22.0% |
| Other amounts payable | 47/48 | €8,770 | - | -€8,770 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,198 | €1,056 | -€143 | -11.9% |
| Other operating charges | 640/8 | €1,292 | €632 | -€660 | -51.1% |
| Gross operating margin | 9900 | -€56,251 | €42,895 | +€99,146 | |
| Operating profit (loss) | 9901 | -€58,741 | €41,207 | +€99,948 | |
| Financial income | 75/76B | €1,399 | €1,456 | +€56 | +4.0% |
| Recurring financial income | 75 | €1,399 | €1,456 | +€56 | +4.0% |
| Financial charges | 65/66B | €2,139 | €2,066 | -€74 | -3.4% |
| Recurring financial charges | 65 | €2,139 | €2,066 | -€74 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€59,480 | €40,597 | +€100,078 | |
| Income taxes | 67/77 | €431 | €3,899 | +€3,468 | +805% |
| Profit (loss) for the period | 9904 | -€59,911 | €36,698 | +€96,609 | |
| Profit (loss) for the period to be appropriated | 9905 | -€59,911 | €36,698 | +€96,609 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.