BLUEBELL: 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.
BLUEBELL
Largest movements
- Financial fixed assets +€385,000
new in 2025: €385,000
- Receivables within one year -€11,571
down €11,571 (-43.0%), from €26,941 to €15,370
- Cash -€9,181
down €9,181 (-54.7%), from €16,773 to €7,592
mainly Investment in fixed assets (net) (-€411,504) and Other debts (-€41,785)
- Debts after one year +€383,544
up €383,544 (+242.1%), from €158,456 to €542,000
of which Financial debts: +€200,995
- Other debts -€41,785
down €41,785 (-84.1%), from €49,674 to €7,888
- Profit (loss) carried forward +€26,905
up €26,905 (+64.5%), from €41,718 to €68,623
- Staff costs -€11,691
down €11,691 (-29.7%), from €39,401 to €27,710
- Depreciation +€7,767
up €7,767 (+29.9%), from €25,986 to €33,753
- Gross operating margin +€6,401
up €6,401 (+5.5%), from €117,027 to €123,428
- Taxes +€2,949
up €2,949 (+29.1%), from €10,150 to €13,099
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 | €440,390 | €801,232 | +€360,842 | +81.9% |
| Fixed assets | 21/28 | €396,306 | €774,057 | +€377,751 | +95.3% |
| Intangible fixed assets | 21 | €2,400 | €1,800 | -€600 | -25.0% |
| Tangible fixed assets | 22/27 | €393,906 | €387,257 | -€6,649 | -1.7% |
| Land and buildings | 22 | €300,975 | €286,697 | -€14,279 | -4.7% |
| Plant, machinery and equipment | 23 | €83,395 | €93,441 | +€10,047 | +12.0% |
| Furniture and vehicles | 24 | €9,536 | €7,119 | -€2,417 | -25.3% |
| Financial fixed assets | 28 | - | €385,000 | +€385,000 | |
| Current assets | 29/58 | €44,084 | €27,175 | -€16,909 | -38.4% |
| Amounts receivable within one year | 40/41 | €26,941 | €15,370 | -€11,571 | -43.0% |
| Trade receivables | 40 | €26,941 | €15,370 | -€11,571 | -43.0% |
| Cash at bank and in hand | 54/58 | €16,773 | €7,592 | -€9,181 | -54.7% |
| Deferred charges and accrued income | 490/1 | €370 | €4,213 | +€3,843 | +1038.2% |
| Total equity and liabilities | 10/49 | €440,390 | €801,232 | +€360,842 | +81.9% |
| Equity | 10/15 | €62,169 | €89,074 | +€26,905 | +43.3% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,718 | €68,623 | +€26,905 | +64.5% |
| Provisions and deferred taxes | 16 | €79,101 | €77,332 | -€1,769 | -2.2% |
| Provisions for liabilities and charges | 160/5 | €79,101 | €77,332 | -€1,769 | -2.2% |
| Environmental obligations | 163 | €79,101 | €77,332 | -€1,769 | -2.2% |
| Amounts payable | 17/49 | €299,119 | €634,825 | +€335,706 | +112.2% |
| Amounts payable after more than one year | 17 | €158,456 | €542,000 | +€383,544 | +242.1% |
| Financial debts | 170/4 | €158,456 | €359,451 | +€200,995 | +126.8% |
| Other amounts payable | 178/9 | - | €182,549 | +€182,549 | |
| Amounts payable within one year | 42/48 | €140,049 | €92,526 | -€47,524 | -33.9% |
| Current portion of amounts payable after more than one year | 42 | €50,826 | €49,005 | -€1,821 | -3.6% |
| Trade debts | 44 | €9,123 | €6,708 | -€2,415 | -26.5% |
| Suppliers | 440/4 | €9,123 | €6,708 | -€2,415 | -26.5% |
| Taxes, remuneration and social security | 45 | €30,426 | €28,924 | -€1,502 | -4.9% |
| Taxes | 450/3 | €17,231 | €24,844 | +€7,612 | +44.2% |
| Remuneration and social security | 454/9 | €13,194 | €4,080 | -€9,114 | -69.1% |
| Other amounts payable | 47/48 | €49,674 | €7,888 | -€41,785 | -84.1% |
| Accrued charges and deferred income | 492/3 | €614 | €300 | -€314 | -51.2% |
| Remuneration, social security and pensions | 62 | €39,401 | €27,710 | -€11,691 | -29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,986 | €33,753 | +€7,767 | +29.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,769 | -€1,769 | = | 0.0% |
| Other operating charges | 640/8 | €4,146 | €4,553 | +€406 | +9.8% |
| Gross operating margin | 9900 | €117,027 | €123,428 | +€6,401 | +5.5% |
| Operating profit (loss) | 9901 | €49,263 | €59,182 | +€9,919 | +20.1% |
| Financial income | 75/76B | €34 | €18 | -€15 | -45.9% |
| Recurring financial income | 75 | €34 | €18 | -€15 | -45.9% |
| Financial charges | 65/66B | €18,930 | €19,196 | +€267 | +1.4% |
| Recurring financial charges | 65 | €18,930 | €19,196 | +€267 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €30,367 | €40,004 | +€9,637 | +31.7% |
| Income taxes | 67/77 | €10,150 | €13,099 | +€2,949 | +29.1% |
| Profit (loss) for the period | 9904 | €20,217 | €26,905 | +€6,688 | +33.1% |
| Profit (loss) for the period to be appropriated | 9905 | €20,217 | €26,905 | +€6,688 | +33.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.