BLUEROCK: 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.
BLUEROCK
Largest movements
- Tangible fixed assets +€4.7m
up €4.7m (+51.7%), from €9.0m to €13.7m
of which Assets under construction and advance payments: +€4.8m
- Cash -€1.1m
down €1.1m (-96.7%), from €1.1m to €37,731
mainly Investment in fixed assets (net) (-€4.8m) and Net result for the year (-€217,591)
- Debts after one year +€3.3m
up €3.3m (+41.2%), from €8.0m to €11.3m
- Trade debts +€346,770
up €346,770 (+64.2%), from €540,227 to €886,998
- Profit (loss) carried forward -€217,591
down €217,591 (-22.1%), from -€984,831 to -€1.2m
- Depreciation -€25,498
down €25,498 (-13.2%), from €193,009 to €167,511
- Gross operating margin +€5,465
up €5,465 (+5.6%), from €97,272 to €102,737
- Staff costs +€3,694
new in 2025: €3,694
- Other operating charges -€2,647
down €2,647 (-9.8%), from €26,930 to €24,283
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 | €10,207,234 | €13,760,945 | +€3.6m | +34.8% |
| Formation expenses | 20 | €3,504 | €2,755 | -€749 | -21.4% |
| Fixed assets | 21/28 | €9,033,629 | €13,699,645 | +€4.7m | +51.7% |
| Tangible fixed assets | 22/27 | €9,023,560 | €13,689,507 | +€4.7m | +51.7% |
| Land and buildings | 22 | €5,726,310 | €5,563,889 | -€162,420 | -2.8% |
| Plant, machinery and equipment | 23 | €10,218 | €15,628 | +€5,410 | +52.9% |
| Furniture and vehicles | 24 | €816 | €828 | +€13 | +1.6% |
| Assets under construction and advance payments | 27 | €3,286,217 | €8,109,162 | +€4.8m | +146.8% |
| Financial fixed assets | 28 | €10,069 | €10,138 | +€69 | +0.7% |
| Current assets | 29/58 | €1,170,101 | €58,545 | -€1.1m | -95.0% |
| Amounts receivable within one year | 40/41 | €10,026 | €10,000 | -€26 | -0.3% |
| Trade receivables | 40 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 41 | €26 | €0 | -€26 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,134,344 | €37,731 | -€1.1m | -96.7% |
| Deferred charges and accrued income | 490/1 | €25,732 | €10,814 | -€14,918 | -58.0% |
| Total equity and liabilities | 10/49 | €10,207,234 | €13,760,945 | +€3.6m | +34.8% |
| Equity | 10/15 | €1,535,169 | €1,317,578 | -€217,591 | -14.2% |
| Contributions | 10/11 | €2,520,000 | €2,520,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€984,831 | -€1,202,422 | -€217,591 | -22.1% |
| Amounts payable | 17/49 | €8,672,065 | €12,443,367 | +€3.8m | +43.5% |
| Amounts payable after more than one year | 17 | €8,000,971 | €11,299,998 | +€3.3m | +41.2% |
| Other amounts payable | 178/9 | €8,000,971 | €11,299,998 | +€3.3m | +41.2% |
| Amounts payable within one year | 42/48 | €541,564 | €889,989 | +€348,424 | +64.3% |
| Trade debts | 44 | €540,227 | €886,998 | +€346,770 | +64.2% |
| Suppliers | 440/4 | €540,227 | €886,998 | +€346,770 | +64.2% |
| Taxes, remuneration and social security | 45 | €1,000 | €2,991 | +€1,991 | +199.1% |
| Taxes | 450/3 | €60 | €96 | +€36 | +60.1% |
| Remuneration and social security | 454/9 | €940 | €2,895 | +€1,955 | +208.0% |
| Other amounts payable | 47/48 | €337 | €0 | -€337 | -100.0% |
| Accrued charges and deferred income | 492/3 | €129,530 | €253,380 | +€123,850 | +95.6% |
| Remuneration, social security and pensions | 62 | - | €3,694 | +€3,694 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €193,009 | €167,511 | -€25,498 | -13.2% |
| Other operating charges | 640/8 | €26,930 | €24,283 | -€2,647 | -9.8% |
| Gross operating margin | 9900 | €97,272 | €102,737 | +€5,465 | +5.6% |
| Operating profit (loss) | 9901 | -€122,666 | -€92,750 | +€29,916 | +24.4% |
| Financial income | 75/76B | €585 | €450 | -€135 | -23.1% |
| Recurring financial income | 75 | €585 | €450 | -€135 | -23.1% |
| Financial charges | 65/66B | €125,148 | €125,060 | -€88 | -0.1% |
| Recurring financial charges | 65 | €125,148 | €125,060 | -€88 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | -€247,229 | -€217,360 | +€29,869 | +12.1% |
| Income taxes | 67/77 | €244 | €231 | -€13 | -5.4% |
| Profit (loss) for the period | 9904 | -€247,473 | -€217,591 | +€29,882 | +12.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€247,473 | -€217,591 | +€29,882 | +12.1% |
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 9 October 2026 via checked.be.