Blueframe: 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.
Blueframe
Largest movements
- Tangible fixed assets +€6.0m
up €6.0m (+77.7%), from €7.7m to €13.6m
of which Land and buildings: +€5.9m
- Cash +€680,099
up €680,099 (+239%), from €284,584 to €964,682
mainly Debts after one year (+€4.8m) and Trade debts (+€1.1m)
- Receivables within one year +€189,809
up €189,809 (+379%), from €50,069 to €239,878
of which Trade receivables: +€142,159
- Debts after one year +€4.8m
new in 2025: €4.8m
- Trade debts +€1.1m
up €1.1m (+2,773%), from €40,578 to €1.2m
- Current portion of long-term debt +€714,286
new in 2025: €714,286
- Staff costs +€358,065
up €358,065 (+19,072%), from €1,877 to €359,942
- Gross operating margin +€237,414
up €237,414 (+23.5%), from €1.0m to €1.2m
- Depreciation +€114,019
up €114,019 (+26.8%), from €425,563 to €539,582
- Taxes -€63,974
down €63,974 (-54.4%), from €117,605 to €53,631
- Financial charges +€43,189
up €43,189 (+44.3%), from €97,434 to €140,623
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 | €8,079,344 | €14,867,975 | +€6.8m | +84.0% |
| Fixed assets | 21/28 | €7,701,047 | €13,656,596 | +€6.0m | +77.3% |
| Tangible fixed assets | 22/27 | €7,660,943 | €13,616,491 | +€6.0m | +77.7% |
| Land and buildings | 22 | €7,289,245 | €13,179,195 | +€5.9m | +80.8% |
| Plant, machinery and equipment | 23 | €149,973 | €120,503 | -€29,470 | -19.6% |
| Furniture and vehicles | 24 | €121,707 | €214,861 | +€93,154 | +76.5% |
| Other tangible fixed assets | 26 | €100,018 | €95,232 | -€4,786 | -4.8% |
| Assets under construction and advance payments | 27 | - | €6,700 | +€6,700 | |
| Financial fixed assets | 28 | €40,105 | €40,105 | = | 0.0% |
| Current assets | 29/58 | €378,297 | €1,211,379 | +€833,082 | +220% |
| Amounts receivable within one year | 40/41 | €50,069 | €239,878 | +€189,809 | +379% |
| Trade receivables | 40 | €50,069 | €192,228 | +€142,159 | +284% |
| Other amounts receivable | 41 | - | €47,650 | +€47,650 | |
| Current investments | 50/53 | €689 | - | -€689 | |
| Cash at bank and in hand | 54/58 | €284,584 | €964,682 | +€680,099 | +239% |
| Deferred charges and accrued income | 490/1 | €42,955 | €6,819 | -€36,136 | -84.1% |
| Total equity and liabilities | 10/49 | €8,079,344 | €14,867,975 | +€6.8m | +84.0% |
| Equity | 10/15 | €6,865,348 | €6,916,544 | +€51,196 | +0.7% |
| Contributions | 10/11 | €728,263 | €728,263 | = | 0.0% |
| Reserves | 13 | €6,137,086 | €6,188,281 | +€51,196 | +0.8% |
| Distributable reserves | 133 | €6,137,086 | €6,188,281 | +€51,196 | +0.8% |
| Amounts payable | 17/49 | €1,213,995 | €7,951,431 | +€6.7m | +555% |
| Amounts payable after more than one year | 17 | - | €4,793,868 | +€4.8m | |
| Financial debts | 170/4 | - | €4,793,868 | +€4.8m | |
| Amounts payable within one year | 42/48 | €1,176,865 | €3,121,152 | +€1.9m | +165% |
| Current portion of amounts payable after more than one year | 42 | - | €714,286 | +€714,286 | |
| Trade debts | 44 | €40,578 | €1,165,769 | +€1.1m | +2,773% |
| Suppliers | 440/4 | €40,578 | €1,165,769 | +€1.1m | +2,773% |
| Taxes, remuneration and social security | 45 | €68,198 | €158,771 | +€90,573 | +133% |
| Taxes | 450/3 | €64,932 | €119,689 | +€54,757 | +84.3% |
| Remuneration and social security | 454/9 | €3,266 | €39,082 | +€35,816 | +1,097% |
| Other amounts payable | 47/48 | €1,068,089 | €1,082,326 | +€14,237 | +1.3% |
| Accrued charges and deferred income | 492/3 | €37,130 | €36,411 | -€719 | -1.9% |
| Remuneration, social security and pensions | 62 | €1,877 | €359,942 | +€358,065 | +19,072% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €425,563 | €539,582 | +€114,019 | +26.8% |
| Other operating charges | 640/8 | €50,150 | €76,520 | +€26,370 | +52.6% |
| Non-recurring operating charges | 66A | - | €25,042 | +€25,042 | |
| Gross operating margin | 9900 | €1,009,117 | €1,246,531 | +€237,414 | +23.5% |
| Operating profit (loss) | 9901 | €531,527 | €245,445 | -€286,082 | -53.8% |
| Financial income | 75/76B | €7 | €5 | -€2 | -26.9% |
| Recurring financial income | 75 | €7 | €5 | -€2 | -26.9% |
| Financial charges | 65/66B | €97,434 | €140,623 | +€43,189 | +44.3% |
| Recurring financial charges | 65 | €97,434 | €140,623 | +€43,189 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | €434,101 | €104,827 | -€329,273 | -75.9% |
| Income taxes | 67/77 | €117,605 | €53,631 | -€63,974 | -54.4% |
| Profit (loss) for the period | 9904 | €316,495 | €51,196 | -€265,300 | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €316,495 | €51,196 | -€265,300 | -83.8% |
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 16 October 2026 via checked.be.