BLUEMAX: 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.
BLUEMAX
Largest movements
- Tangible fixed assets -€10,719
down €10,719 (-33.3%), from €32,157 to €21,438
- Receivables within one year +€8,213
up €8,213 (+27.6%), from €29,757 to €37,971
of which Trade receivables: +€8,503
- Deferred charges and accrued income -€1,337
no longer reported in 2025 (was €1,337)
- Cash +€828
new in 2025: €828
mainly Depreciation (+€10,719) and Net result for the year (+€5,172)
- Short-term financial debts -€9,884
no longer reported in 2025 (was €9,884)
- Profit (loss) carried forward +€5,172
up €5,172 (+1.2%), from -€448,597 to -€443,424
- Tax, wage and social debts +€1,545
up €1,545 (+74.1%), from €2,087 to €3,632
- Other debts +€1,481
new in 2025: €1,481
- Trade debts -€1,353
down €1,353 (-16.7%), from €8,106 to €6,754
- Gross operating margin -€11,818
down €11,818 (-37.4%), from €31,641 to €19,822
- Other operating charges +€1,272
up €1,272 (+260%), from €489 to €1,761
- Financial income -€453
no longer reported in 2025 (was €453)
- Financial charges -€327
down €327 (-16.8%), from €1,953 to €1,626
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 | €63,251 | €60,237 | -€3,014 | -4.8% |
| Fixed assets | 21/28 | €32,157 | €21,438 | -€10,719 | -33.3% |
| Tangible fixed assets | 22/27 | €32,157 | €21,438 | -€10,719 | -33.3% |
| Furniture and vehicles | 24 | €32,157 | €21,438 | -€10,719 | -33.3% |
| Current assets | 29/58 | €31,094 | €38,799 | +€7,705 | +24.8% |
| Amounts receivable within one year | 40/41 | €29,757 | €37,971 | +€8,213 | +27.6% |
| Trade receivables | 40 | €28,738 | €37,241 | +€8,503 | +29.6% |
| Other amounts receivable | 41 | €1,019 | €730 | -€290 | -28.4% |
| Cash at bank and in hand | 54/58 | - | €828 | +€828 | |
| Deferred charges and accrued income | 490/1 | €1,337 | - | -€1,337 | |
| Total equity and liabilities | 10/49 | €63,251 | €60,237 | -€3,014 | -4.8% |
| Equity | 10/15 | -€201,737 | -€196,565 | +€5,172 | +2.6% |
| Contributions | 10/11 | €245,000 | €245,000 | = | 0.0% |
| Capital | 10 | €245,000 | - | -€245,000 | |
| Issued capital | 100 | €245,000 | - | -€245,000 | |
| Contributions outside capital | 11 | - | €245,000 | +€245,000 | |
| Other | 1109/19 | - | €245,000 | +€245,000 | |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€448,597 | -€443,424 | +€5,172 | +1.2% |
| Amounts payable | 17/49 | €264,988 | €256,802 | -€8,186 | -3.1% |
| Amounts payable after more than one year | 17 | €244,911 | €244,935 | +€24 | 0.0% |
| Financial debts | 170/4 | - | €140,550 | +€140,550 | |
| Other amounts payable | 178/9 | €244,911 | €104,385 | -€140,526 | -57.4% |
| Amounts payable within one year | 42/48 | €20,077 | €11,867 | -€8,211 | -40.9% |
| Financial debts | 43 | €9,884 | - | -€9,884 | |
| Credit institutions | 430/8 | €9,884 | - | -€9,884 | |
| Trade debts | 44 | €8,106 | €6,754 | -€1,353 | -16.7% |
| Suppliers | 440/4 | €8,106 | €6,754 | -€1,353 | -16.7% |
| Taxes, remuneration and social security | 45 | €2,087 | €3,632 | +€1,545 | +74.1% |
| Taxes | 450/3 | €2,087 | €3,632 | +€1,545 | +74.1% |
| Other amounts payable | 47/48 | - | €1,481 | +€1,481 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,719 | €10,719 | = | 0.0% |
| Other operating charges | 640/8 | €489 | €1,761 | +€1,272 | +260% |
| Gross operating margin | 9900 | €31,641 | €19,822 | -€11,818 | -37.4% |
| Operating profit (loss) | 9901 | €20,433 | €7,342 | -€13,090 | -64.1% |
| Financial income | 75/76B | €453 | - | -€453 | |
| Recurring financial income | 75 | €453 | - | -€453 | |
| Financial charges | 65/66B | €1,953 | €1,626 | -€327 | -16.8% |
| Recurring financial charges | 65 | €1,953 | €1,626 | -€327 | -16.8% |
| Profit (loss) for the period before taxes | 9903 | €18,933 | €5,717 | -€13,216 | -69.8% |
| Income taxes | 67/77 | €652 | €544 | -€108 | -16.6% |
| Profit (loss) for the period | 9904 | €18,281 | €5,172 | -€13,108 | -71.7% |
| Profit (loss) for the period to be appropriated | 9905 | €18,281 | €5,172 | -€13,108 | -71.7% |
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.