BLUENERGY: 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.
BLUENERGY
Largest movements
- Tangible fixed assets +€133,323
up €133,323 (+4,453%), from €2,994 to €136,317
of which Land and buildings: +€99,396
- Receivables within one year -€39,588
down €39,588 (-56.9%), from €69,554 to €29,966
of which Other amounts receivable: -€37,305
- Cash -€23,101
down €23,101 (-34.1%), from €67,713 to €44,612
mainly Investment in fixed assets (net) (-€150,880) and Trade debts (-€4,093)
- Intangible fixed assets -€8,333
no longer reported in 2025 (was €8,333)
- Reserves +€35,000
up €35,000 (+94.6%), from €37,000 to €72,000
- Other debts +€30,902
up €30,902 (+50.8%), from €60,879 to €91,781
- Trade debts -€4,093
down €4,093 (-51.5%), from €7,941 to €3,848
- Tax, wage and social debts +€2,543
up €2,543 (+11.1%), from €22,838 to €25,381
of which Taxes: +€3,085
- Profit (loss) carried forward -€2,444
down €2,444 (-22.0%), from €11,106 to €8,662
- Depreciation +€15,739
up €15,739 (+155%), from €10,151 to €25,890
- Staff costs -€12,898
down €12,898 (-65.8%), from €19,595 to €6,697
- Taxes -€3,089
down €3,089 (-20.3%), from €15,221 to €12,132
- Gross operating margin -€2,470
down €2,470 (-3.0%), from €82,523 to €80,053
- Financial charges +€1,935
up €1,935 (+921%), from €210 to €2,145
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 | €149,764 | €211,672 | +€61,908 | +41.3% |
| Fixed assets | 21/28 | €12,017 | €137,007 | +€124,990 | +1,040% |
| Intangible fixed assets | 21 | €8,333 | - | -€8,333 | |
| Tangible fixed assets | 22/27 | €2,994 | €136,317 | +€133,323 | +4,453% |
| Land and buildings | 22 | - | €99,396 | +€99,396 | |
| Furniture and vehicles | 24 | €2,994 | €36,921 | +€33,927 | +1,133% |
| Financial fixed assets | 28 | €690 | €690 | = | 0.0% |
| Current assets | 29/58 | €137,747 | €74,665 | -€63,082 | -45.8% |
| Stocks and contracts in progress | 3 | €465 | - | -€465 | |
| Stocks | 30/36 | €465 | - | -€465 | |
| Amounts receivable within one year | 40/41 | €69,554 | €29,966 | -€39,588 | -56.9% |
| Trade receivables | 40 | €23,737 | €21,454 | -€2,283 | -9.6% |
| Other amounts receivable | 41 | €45,817 | €8,512 | -€37,305 | -81.4% |
| Cash at bank and in hand | 54/58 | €67,713 | €44,612 | -€23,101 | -34.1% |
| Deferred charges and accrued income | 490/1 | €15 | €87 | +€72 | +480% |
| Total equity and liabilities | 10/49 | €149,764 | €211,672 | +€61,908 | +41.3% |
| Equity | 10/15 | €58,106 | €90,662 | +€32,556 | +56.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €37,000 | €72,000 | +€35,000 | +94.6% |
| Distributable reserves | 133 | €37,000 | €72,000 | +€35,000 | +94.6% |
| Profit (loss) carried forward | 14 | €11,106 | €8,662 | -€2,444 | -22.0% |
| Amounts payable | 17/49 | €91,658 | €121,010 | +€29,352 | +32.0% |
| Amounts payable within one year | 42/48 | €91,658 | €121,010 | +€29,352 | +32.0% |
| Trade debts | 44 | €7,941 | €3,848 | -€4,093 | -51.5% |
| Suppliers | 440/4 | €7,941 | €3,848 | -€4,093 | -51.5% |
| Taxes, remuneration and social security | 45 | €22,838 | €25,381 | +€2,543 | +11.1% |
| Taxes | 450/3 | €19,688 | €22,773 | +€3,085 | +15.7% |
| Remuneration and social security | 454/9 | €3,150 | €2,608 | -€542 | -17.2% |
| Other amounts payable | 47/48 | €60,879 | €91,781 | +€30,902 | +50.8% |
| Remuneration, social security and pensions | 62 | €19,595 | €6,697 | -€12,898 | -65.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,151 | €25,890 | +€15,739 | +155% |
| Other operating charges | 640/8 | €85 | €998 | +€913 | +1,074% |
| Gross operating margin | 9900 | €82,523 | €80,053 | -€2,470 | -3.0% |
| Operating profit (loss) | 9901 | €52,692 | €46,468 | -€6,224 | -11.8% |
| Financial income | 75/76B | - | €365 | +€365 | |
| Recurring financial income | 75 | - | €365 | +€365 | |
| Financial charges | 65/66B | €210 | €2,145 | +€1,935 | +921% |
| Recurring financial charges | 65 | €210 | €2,145 | +€1,935 | +921% |
| Profit (loss) for the period before taxes | 9903 | €52,482 | €44,688 | -€7,794 | -14.9% |
| Income taxes | 67/77 | €15,221 | €12,132 | -€3,089 | -20.3% |
| Profit (loss) for the period | 9904 | €37,261 | €32,556 | -€4,705 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,261 | €32,556 | -€4,705 | -12.6% |
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 18 October 2026 via checked.be.