BLUELINE PROJECTS: 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.
BLUELINE PROJECTS
Largest movements
- Cash +€73,698
up €73,698 (+52.8%), from €139,609 to €213,307
mainly Net result for the year (+€43,208) and Depreciation (+€24,503)
- Tangible fixed assets -€24,503
down €24,503 (-6.1%), from €404,502 to €380,000
- Reserves +€43,208
up €43,208 (+9.6%), from €451,248 to €494,456
- Short-term financial debts +€6,765
new in 2025: €6,765
- Gross operating margin +€23,621
up €23,621 (+32.0%), from €73,824 to €97,446
- Taxes +€7,459
up €7,459 (+58.7%), from €12,704 to €20,163
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 | €551,408 | €601,543 | +€50,135 | +9.1% |
| Fixed assets | 21/28 | €404,502 | €380,000 | -€24,503 | -6.1% |
| Tangible fixed assets | 22/27 | €404,502 | €380,000 | -€24,503 | -6.1% |
| Land and buildings | 22 | €404,502 | €380,000 | -€24,503 | -6.1% |
| Current assets | 29/58 | €146,905 | €221,543 | +€74,638 | +50.8% |
| Amounts receivable within one year | 40/41 | €7,296 | €8,236 | +€940 | +12.9% |
| Trade receivables | 40 | - | €940 | +€940 | |
| Other amounts receivable | 41 | €7,296 | €7,296 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €139,609 | €213,307 | +€73,698 | +52.8% |
| Total equity and liabilities | 10/49 | €551,408 | €601,543 | +€50,135 | +9.1% |
| Equity | 10/15 | €551,248 | €594,456 | +€43,208 | +7.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Outside capital | 11 | €100,000 | €100,000 | = | 0.0% |
| Other | 1109/19 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €451,248 | €494,456 | +€43,208 | +9.6% |
| Distributable reserves | 133 | €451,248 | €494,456 | +€43,208 | +9.6% |
| Amounts payable | 17/49 | €159 | €7,087 | +€6,927 | +4347.2% |
| Amounts payable within one year | 42/48 | €159 | €7,087 | +€6,927 | +4347.2% |
| Financial debts | 43 | - | €6,765 | +€6,765 | |
| Other loans | 439 | - | €6,765 | +€6,765 | |
| Trade debts | 44 | €109 | - | -€109 | |
| Suppliers | 440/4 | €109 | - | -€109 | |
| Taxes, remuneration and social security | 45 | - | €163 | +€163 | |
| Taxes | 450/3 | - | €163 | +€163 | |
| Other amounts payable | 47/48 | €50 | €159 | +€109 | +219.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,503 | €24,503 | = | 0.0% |
| Other operating charges | 640/8 | €9,344 | €9,233 | -€110 | -1.2% |
| Gross operating margin | 9900 | €73,824 | €97,446 | +€23,621 | +32.0% |
| Operating profit (loss) | 9901 | €39,978 | €63,710 | +€23,732 | +59.4% |
| Financial charges | 65/66B | €44 | €339 | +€296 | +680.2% |
| Recurring financial charges | 65 | €44 | €339 | +€296 | +680.2% |
| Profit (loss) for the period before taxes | 9903 | €39,934 | €63,370 | +€23,436 | +58.7% |
| Income taxes | 67/77 | €12,704 | €20,163 | +€7,459 | +58.7% |
| Profit (loss) for the period | 9904 | €27,231 | €43,208 | +€15,977 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,231 | €43,208 | +€15,977 | +58.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.