BLUEBELL PROJECTS: 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 PROJECTS
Largest movements
- Stocks and contracts -€318,000
down €318,000 (-100%), from €318,000 to €0
- Receivables within one year +€302,624
up €302,624 (+55.7%), from €543,637 to €846,261
of which Trade receivables: +€293,260
- Cash -€83,479
down €83,479 (-62.1%), from €134,417 to €50,938
mainly Receivables within one year (-€302,624) and Advances received (-€80,000)
- Advances received -€80,000
no longer reported in 2025 (was €80,000)
- Tax, wage and social debts +€55,082
new in 2025: €55,082
- Accrued charges and deferred income -€50,000
down €50,000 (-100%), from €50,000 to €0
- Trade debts -€27,656
down €27,656 (-3.1%), from €903,615 to €875,959
- Gross operating margin +€46,590
up €46,590 (+92.7%), from -€50,254 to -€3,663
- Financial income +€9,208
up €9,208 (+1,923%), from €479 to €9,687
- Other operating charges -€694
down €694 (-63.4%), from €1,094 to €400
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 | €996,054 | €899,104 | -€96,950 | -9.7% |
| Current assets | 29/58 | €996,054 | €899,104 | -€96,950 | -9.7% |
| Stocks and contracts in progress | 3 | €318,000 | €0 | -€318,000 | -100% |
| Stocks | 30/36 | €318,000 | €0 | -€318,000 | -100% |
| Amounts receivable within one year | 40/41 | €543,637 | €846,261 | +€302,624 | +55.7% |
| Trade receivables | 40 | €4,889 | €298,149 | +€293,260 | +5,999% |
| Other amounts receivable | 41 | €538,748 | €548,112 | +€9,364 | +1.7% |
| Cash at bank and in hand | 54/58 | €134,417 | €50,938 | -€83,479 | -62.1% |
| Deferred charges and accrued income | 490/1 | - | €1,906 | +€1,906 | |
| Total equity and liabilities | 10/49 | €996,054 | €899,104 | -€96,950 | -9.7% |
| Equity | 10/15 | -€37,561 | -€31,937 | +€5,624 | +15.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,561 | -€51,937 | +€5,624 | +9.8% |
| Amounts payable | 17/49 | €1,033,615 | €931,041 | -€102,574 | -9.9% |
| Amounts payable within one year | 42/48 | €983,615 | €931,041 | -€52,574 | -5.3% |
| Trade debts | 44 | €903,615 | €875,959 | -€27,656 | -3.1% |
| Suppliers | 440/4 | €903,615 | €875,959 | -€27,656 | -3.1% |
| Advances received on contracts in progress | 46 | €80,000 | - | -€80,000 | |
| Taxes, remuneration and social security | 45 | - | €55,082 | +€55,082 | |
| Taxes | 450/3 | - | €55,082 | +€55,082 | |
| Accrued charges and deferred income | 492/3 | €50,000 | €0 | -€50,000 | -100% |
| Other operating charges | 640/8 | €1,094 | €400 | -€694 | -63.4% |
| Gross operating margin | 9900 | -€50,254 | -€3,663 | +€46,590 | +92.7% |
| Operating profit (loss) | 9901 | -€51,347 | -€4,063 | +€47,284 | +92.1% |
| Financial income | 75/76B | €479 | €9,687 | +€9,208 | +1,923% |
| Recurring financial income | 75 | €479 | €9,687 | +€9,208 | +1,923% |
| Financial charges | 65/66B | €116 | - | -€116 | |
| Recurring financial charges | 65 | €116 | - | -€116 | |
| Profit (loss) for the period before taxes | 9903 | -€50,984 | €5,624 | +€56,608 | |
| Profit (loss) for the period | 9904 | -€50,984 | €5,624 | +€56,608 | |
| Profit (loss) for the period to be appropriated | 9905 | -€50,984 | €5,624 | +€56,608 |
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 18 October 2026 via checked.be.