Bluegray: what changed
Two fiscal 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.
Bluegray
Largest movements
- Current investments -€408,962
down €408,962 (-85.0%), from €481,370 to €72,408
- Financial fixed assets -€19,000
down €19,000 (-32.2%), from €59,001 to €40,000
- Receivables within one year +€13,621
up €13,621 (+164.2%), from €8,297 to €21,919
of which Trade receivables: +€14,215
- Cash -€9,301
down €9,301 (-55.4%), from €16,790 to €7,489
mainly Contributions, distributions and other (-€500,000) and Net result for the year (-€37,537)
- Reserves -€520,163
down €520,163 (-100.0%), from €520,163 to €0
- Other debts +€121,327
up €121,327 (+363.6%), from €33,370 to €154,697
- Profit (loss) carried forward -€17,373
down €17,373, from €0 to -€17,373
- Financial income -€504,275
down €504,275 (-99.5%), from €506,760 to €2,485
- Gross operating margin -€38,946
down €38,946, from €20,531 to -€18,415
- Financial charges -€7,507
down €7,507 (-98.6%), from €7,615 to €108
- Taxes -€4,102
down €4,102 (-100.0%), from €4,102 to €0
- Write-downs +€1,752
new in 2025: €1,752
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 | €566,329 | €142,298 | -€424,031 | -74.9% |
| Fixed assets | 21/28 | €59,871 | €40,482 | -€19,389 | -32.4% |
| Tangible fixed assets | 22/27 | €871 | €482 | -€388 | -44.6% |
| Furniture and vehicles | 24 | €871 | €482 | -€388 | -44.6% |
| Financial fixed assets | 28 | €59,001 | €40,000 | -€19,000 | -32.2% |
| Current assets | 29/58 | €506,457 | €101,815 | -€404,642 | -79.9% |
| Amounts receivable within one year | 40/41 | €8,297 | €21,919 | +€13,621 | +164.2% |
| Trade receivables | 40 | €6,960 | €21,175 | +€14,215 | +204.2% |
| Other amounts receivable | 41 | €1,337 | €744 | -€594 | -44.4% |
| Current investments | 50/53 | €481,370 | €72,408 | -€408,962 | -85.0% |
| Cash at bank and in hand | 54/58 | €16,790 | €7,489 | -€9,301 | -55.4% |
| Total equity and liabilities | 10/49 | €566,329 | €142,298 | -€424,031 | -74.9% |
| Equity | 10/15 | €522,163 | -€15,373 | -€537,537 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €520,163 | €0 | -€520,163 | -100.0% |
| Distributable reserves | 133 | €520,163 | €0 | -€520,163 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€17,373 | -€17,373 | |
| Amounts payable | 17/49 | €44,165 | €157,671 | +€113,506 | +257.0% |
| Amounts payable within one year | 42/48 | €44,165 | €157,671 | +€113,506 | +257.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €595 | €35 | -€560 | -94.1% |
| Credit institutions | 430/8 | €595 | €35 | -€560 | -94.1% |
| Trade debts | 44 | €4,710 | €575 | -€4,135 | -87.8% |
| Suppliers | 440/4 | €4,710 | €575 | -€4,135 | -87.8% |
| Taxes, remuneration and social security | 45 | €5,491 | €2,364 | -€3,127 | -56.9% |
| Taxes | 450/3 | €5,491 | €2,364 | -€3,127 | -56.9% |
| Other amounts payable | 47/48 | €33,370 | €154,697 | +€121,327 | +363.6% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €295 | €388 | +€94 | +31.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,752 | +€1,752 | |
| Other operating charges | 640/8 | €854 | €358 | -€496 | -58.1% |
| Non-recurring operating charges | 66A | - | €19,000 | +€19,000 | |
| Gross operating margin | 9900 | €20,531 | -€18,415 | -€38,946 | |
| Operating profit (loss) | 9901 | €19,382 | -€39,914 | -€59,296 | |
| Financial income | 75/76B | €506,760 | €2,485 | -€504,275 | -99.5% |
| Recurring financial income | 75 | €506,760 | €2,485 | -€504,275 | -99.5% |
| Financial charges | 65/66B | €7,615 | €108 | -€7,507 | -98.6% |
| Recurring financial charges | 65 | €7,615 | €108 | -€7,507 | -98.6% |
| Profit (loss) for the period before taxes | 9903 | €518,527 | -€37,537 | -€556,063 | |
| Income taxes | 67/77 | €4,102 | €0 | -€4,102 | -100.0% |
| Profit (loss) for the period | 9904 | €514,425 | -€37,537 | -€551,961 | |
| Profit (loss) for the period to be appropriated | 9905 | €514,425 | -€37,537 | -€551,961 |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.