BLUESPHERE: 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.
BLUESPHERE
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+114%), from €874,932 to €1.9m
of which Land and buildings: +€746,881
- Cash -€271,309
down €271,309 (-52.5%), from €517,175 to €245,866
mainly Investment in fixed assets (net) (-€1.2m) and Receivables within one year (-€133,148)
- Receivables within one year +€133,148
up €133,148 (+17.8%), from €746,857 to €880,005
of which Trade receivables: +€95,051
- Debts after one year +€634,937
up €634,937 (+240%), from €264,881 to €899,818
- Reserves +€154,320
up €154,320 (+26.3%), from €587,813 to €742,133
of which Distributable reserves: +€159,290
- Current portion of long-term debt +€67,080
up €67,080 (+73.6%), from €91,097 to €158,177
- Depreciation +€79,685
up €79,685 (+74.5%), from €106,983 to €186,668
- Gross operating margin +€38,719
up €38,719 (+8.9%), from €435,230 to €473,948
- Taxes -€21,146
down €21,146 (-21.4%), from €98,593 to €77,447
- Financial income +€18,607
up €18,607 (+691%), from €2,694 to €21,302
- Financial charges +€12,338
up €12,338 (+25.7%), from €48,010 to €60,348
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 | €2,286,410 | €3,148,401 | +€861,991 | +37.7% |
| Fixed assets | 21/28 | €887,432 | €1,888,143 | +€1.0m | +113% |
| Tangible fixed assets | 22/27 | €874,932 | €1,875,643 | +€1.0m | +114% |
| Land and buildings | 22 | €652,951 | €1,399,832 | +€746,881 | +114% |
| Plant, machinery and equipment | 23 | €18,170 | €14,082 | -€4,088 | -22.5% |
| Furniture and vehicles | 24 | €201,995 | €459,913 | +€257,918 | +128% |
| Other tangible fixed assets | 26 | €1,815 | €1,815 | = | 0.0% |
| Financial fixed assets | 28 | €12,500 | €12,500 | = | 0.0% |
| Current assets | 29/58 | €1,398,978 | €1,260,259 | -€138,720 | -9.9% |
| Amounts receivable after more than one year | 29 | €132,000 | €132,000 | = | 0.0% |
| Other amounts receivable | 291 | €132,000 | €132,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €746,857 | €880,005 | +€133,148 | +17.8% |
| Trade receivables | 40 | €550,944 | €645,995 | +€95,051 | +17.3% |
| Other amounts receivable | 41 | €195,913 | €234,010 | +€38,097 | +19.4% |
| Cash at bank and in hand | 54/58 | €517,175 | €245,866 | -€271,309 | -52.5% |
| Deferred charges and accrued income | 490/1 | €2,947 | €2,388 | -€559 | -19.0% |
| Total equity and liabilities | 10/49 | €2,286,410 | €3,148,401 | +€861,991 | +37.7% |
| Equity | 10/15 | €612,133 | €766,453 | +€154,320 | +25.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €587,813 | €742,133 | +€154,320 | +26.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €160,274 | €155,303 | -€4,970 | -3.1% |
| Distributable reserves | 133 | €425,680 | €584,970 | +€159,290 | +37.4% |
| Profit (loss) carried forward | 14 | €11,920 | €11,920 | = | 0.0% |
| Provisions and deferred taxes | 16 | €53,425 | €51,768 | -€1,657 | -3.1% |
| Deferred taxes | 168 | €53,425 | €51,768 | -€1,657 | -3.1% |
| Amounts payable | 17/49 | €1,620,853 | €2,330,181 | +€709,328 | +43.8% |
| Amounts payable after more than one year | 17 | €264,881 | €899,818 | +€634,937 | +240% |
| Financial debts | 170/4 | €264,881 | €899,818 | +€634,937 | +240% |
| Amounts payable within one year | 42/48 | €1,355,971 | €1,400,780 | +€44,808 | +3.3% |
| Current portion of amounts payable after more than one year | 42 | €91,097 | €158,177 | +€67,080 | +73.6% |
| Financial debts | 43 | - | €0 | = | |
| Credit institutions | 430/8 | - | €0 | = | |
| Trade debts | 44 | €664,441 | €676,081 | +€11,641 | +1.8% |
| Suppliers | 440/4 | €664,441 | €676,081 | +€11,641 | +1.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €60,770 | €30,425 | -€30,345 | -49.9% |
| Taxes | 450/3 | €60,770 | €30,425 | -€30,345 | -49.9% |
| Other amounts payable | 47/48 | €539,663 | €536,096 | -€3,568 | -0.7% |
| Accrued charges and deferred income | 492/3 | - | €29,583 | +€29,583 | |
| Non-recurring operating income | 76A | €4,591 | €7,168 | +€2,576 | +56.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,983 | €186,668 | +€79,685 | +74.5% |
| Other operating charges | 640/8 | €10,189 | €10,111 | -€78 | -0.8% |
| Non-recurring operating charges | 66A | - | €5,013 | +€5,013 | |
| Gross operating margin | 9900 | €435,230 | €473,948 | +€38,719 | +8.9% |
| Operating profit (loss) | 9901 | €318,058 | €272,156 | -€45,901 | -14.4% |
| Financial income | 75/76B | €2,694 | €21,302 | +€18,607 | +691% |
| Recurring financial income | 75 | €2,694 | €21,302 | +€18,607 | +691% |
| Financial charges | 65/66B | €48,010 | €60,348 | +€12,338 | +25.7% |
| Recurring financial charges | 65 | €48,010 | €60,348 | +€12,338 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €272,742 | €233,110 | -€39,632 | -14.5% |
| Transfer from deferred taxes | 780 | €986 | €1,657 | +€671 | +68.1% |
| Income taxes | 67/77 | €98,593 | €77,447 | -€21,146 | -21.4% |
| Profit (loss) for the period | 9904 | €175,135 | €157,320 | -€17,815 | -10.2% |
| Transfer from tax-exempt reserves | 789 | €2,957 | €4,970 | +€2,013 | +68.1% |
| Profit (loss) for the period to be appropriated | 9905 | €178,093 | €162,290 | -€15,802 | -8.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.