BlueFrog: 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.
BlueFrog
Largest movements
- Cash +€31,508
up €31,508 (+67.1%), from €46,927 to €78,434
mainly Net result for the year (+€44,118) and Depreciation (+€18,938)
- Tangible fixed assets -€10,554
down €10,554 (-5.3%), from €197,602 to €187,048
of which Land and buildings: -€11,751
- Receivables within one year +€9,867
up €9,867 (+25.8%), from €38,211 to €48,077
of which Other amounts receivable: +€13,811
- Reserves +€44,118
up €44,118 (+103%), from €42,715 to €86,833
- Debts after one year -€23,675
down €23,675 (-14.7%), from €160,947 to €137,272
- Tax, wage and social debts +€10,437
up €10,437 (+61.9%), from €16,851 to €27,288
- Short-term financial debts +€3,469
up €3,469 (+4,481%), from €77 to €3,546
- Taxes +€7,062
up €7,062 (+64.7%), from €10,913 to €17,975
- Gross operating margin +€1,616
up €1,616 (+1.8%), from €87,779 to €89,396
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 | €283,515 | €314,748 | +€31,233 | +11.0% |
| Fixed assets | 21/28 | €197,602 | €187,048 | -€10,554 | -5.3% |
| Tangible fixed assets | 22/27 | €197,602 | €187,048 | -€10,554 | -5.3% |
| Land and buildings | 22 | €196,411 | €184,660 | -€11,751 | -6.0% |
| Furniture and vehicles | 24 | €1,191 | €2,388 | +€1,197 | +100% |
| Current assets | 29/58 | €85,913 | €127,700 | +€41,787 | +48.6% |
| Amounts receivable within one year | 40/41 | €38,211 | €48,077 | +€9,867 | +25.8% |
| Trade receivables | 40 | €13,658 | €9,714 | -€3,944 | -28.9% |
| Other amounts receivable | 41 | €24,553 | €38,364 | +€13,811 | +56.3% |
| Cash at bank and in hand | 54/58 | €46,927 | €78,434 | +€31,508 | +67.1% |
| Deferred charges and accrued income | 490/1 | €775 | €1,188 | +€413 | +53.2% |
| Total equity and liabilities | 10/49 | €283,515 | €314,748 | +€31,233 | +11.0% |
| Equity | 10/15 | €61,315 | €105,433 | +€44,118 | +72.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €42,715 | €86,833 | +€44,118 | +103% |
| Distributable reserves | 133 | €42,715 | €86,833 | +€44,118 | +103% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €222,200 | €209,315 | -€12,885 | -5.8% |
| Amounts payable after more than one year | 17 | €160,947 | €137,272 | -€23,675 | -14.7% |
| Financial debts | 170/4 | €160,947 | €137,272 | -€23,675 | -14.7% |
| Amounts payable within one year | 42/48 | €61,198 | €72,043 | +€10,844 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €22,942 | €23,675 | +€733 | +3.2% |
| Financial debts | 43 | €77 | €3,546 | +€3,469 | +4,481% |
| Credit institutions | 430/8 | €77 | €3,546 | +€3,469 | +4,481% |
| Trade debts | 44 | €2,078 | €968 | -€1,111 | -53.4% |
| Suppliers | 440/4 | €2,078 | €968 | -€1,111 | -53.4% |
| Taxes, remuneration and social security | 45 | €16,851 | €27,288 | +€10,437 | +61.9% |
| Taxes | 450/3 | €16,851 | €27,288 | +€10,437 | +61.9% |
| Other amounts payable | 47/48 | €19,250 | €16,566 | -€2,684 | -13.9% |
| Accrued charges and deferred income | 492/3 | €54 | €0 | -€54 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,138 | €18,938 | +€800 | +4.4% |
| Other operating charges | 640/8 | €2,933 | €2,911 | -€22 | -0.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €87,779 | €89,396 | +€1,616 | +1.8% |
| Operating profit (loss) | 9901 | €66,709 | €67,547 | +€838 | +1.3% |
| Financial income | 75/76B | €7 | €349 | +€342 | +4,905% |
| Recurring financial income | 75 | €7 | €349 | +€342 | +4,905% |
| Financial charges | 65/66B | €6,677 | €5,802 | -€874 | -13.1% |
| Recurring financial charges | 65 | €6,677 | €5,802 | -€874 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €60,039 | €62,093 | +€2,054 | +3.4% |
| Income taxes | 67/77 | €10,913 | €17,975 | +€7,062 | +64.7% |
| Profit (loss) for the period | 9904 | €49,126 | €44,118 | -€5,008 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €49,126 | €44,118 | -€5,008 | -10.2% |
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 15 October 2026 via checked.be.