BLUESTONE: 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.
What changed
BLUESTONE
NACE 70.100, Activities of head offices
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€10,933
2024 · €45,450-€56,383
Equity
€2.5m
2024 · €2.6m-€10,933
Cash
€6,176
2024 · €8,892-€2,717
Balance sheet total
€9.5m
2024 · €9.6m-€67,753
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Other debts +€352,654
up €352,654 (+6.7%), from €5.3m to €5.6m
- Debts after one year -€267,140
down €267,140 (-23.3%), from €1.1m to €881,732
Income statement
- Gross operating margin -€509,543
down €509,543 (-64.7%), from €787,892 to €278,349
- Financial charges +€85,583
up €85,583 (+78.9%), from €108,492 to €194,076
- Taxes -€23,269
down €23,269 (-97.0%), from €23,994 to €725
- Staff costs +€13,954
up €13,954 (+24.5%), from €56,873 to €70,827
- Financial income +€13,032
up €13,032 (+188.2%), from €6,926 to €19,959
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.
Result 2024
€45,450
Gross operating margin
-€509,543
Staff costs
-€13,954
Depreciation
-€5,958
Other operating charges
+€272
Other operating items
+€522,082
Financial income
+€13,032
Financial charges
-€85,583
Taxes
+€23,269
Result 2025
-€10,933
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.
From operations
+€332,192
Investment
-€1,391
Financing
-€333,517
Cash 2024
€8,892
From operations (derived)
+€332,192
Net result for the year
-€10,933
Depreciation
+€42,552
Receivables after one year
+€27,581
Receivables within one year
+€12,751
Deferred charges and accrued income
-€16,458
Trade debts
-€11,931
Tax, wage and social debts
-€64,025
Other debts
+€352,654
Investment (derived)
-€1,391
Investment in fixed assets (net)
-€1,391
Financing
-€333,517
Debts after one year
-€267,140
Current portion of long-term debt
-€66,377
Cash 2025
€6,176
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,565,779 | €9,498,027 | -€67,753 | -0.7% |
| Fixed assets | 21/28 | €8,321,258 | €8,280,096 | -€41,161 | -0.5% |
| Tangible fixed assets | 22/27 | €112,873 | €71,711 | -€41,161 | -36.5% |
| Land and buildings | 22 | €63,608 | €44,484 | -€19,124 | -30.1% |
| Furniture and vehicles | 24 | €49,265 | €27,227 | -€22,038 | -44.7% |
| Financial fixed assets | 28 | €8,208,385 | €8,208,385 | = | 0.0% |
| Current assets | 29/58 | €1,244,521 | €1,217,930 | -€26,591 | -2.1% |
| Amounts receivable after more than one year | 29 | €571,048 | €543,466 | -€27,581 | -4.8% |
| Other amounts receivable | 291 | €571,048 | €543,466 | -€27,581 | -4.8% |
| Amounts receivable within one year | 40/41 | €658,973 | €646,222 | -€12,751 | -1.9% |
| Trade receivables | 40 | €336,859 | €169,088 | -€167,771 | -49.8% |
| Other amounts receivable | 41 | €322,114 | €477,133 | +€155,019 | +48.1% |
| Cash at bank and in hand | 54/58 | €8,892 | €6,176 | -€2,717 | -30.6% |
| Deferred charges and accrued income | 490/1 | €5,608 | €22,066 | +€16,458 | +293.4% |
| Total equity and liabilities | 10/49 | €9,565,779 | €9,498,027 | -€67,753 | -0.7% |
| Equity | 10/15 | €2,557,008 | €2,546,075 | -€10,933 | -0.4% |
| Contributions | 10/11 | €2,111,160 | €2,111,160 | = | 0.0% |
| Reserves | 13 | €105,605 | €164,545 | +€58,940 | +55.8% |
| Tax-exempt reserves | 132 | - | €58,940 | +€58,940 | |
| Distributable reserves | 133 | €105,605 | €105,605 | = | 0.0% |
| Profit (loss) carried forward | 14 | €340,243 | €270,370 | -€69,873 | -20.5% |
| Amounts payable | 17/49 | €7,008,771 | €6,951,951 | -€56,820 | -0.8% |
| Amounts payable after more than one year | 17 | €1,148,873 | €881,732 | -€267,140 | -23.3% |
| Financial debts | 170/4 | €1,148,873 | €881,732 | -€267,140 | -23.3% |
| Amounts payable within one year | 42/48 | €5,859,898 | €6,070,219 | +€210,321 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €343,075 | €276,698 | -€66,377 | -19.3% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €15,571 | €3,640 | -€11,931 | -76.6% |
| Suppliers | 440/4 | €15,571 | €3,640 | -€11,931 | -76.6% |
| Taxes, remuneration and social security | 45 | €89,340 | €25,314 | -€64,025 | -71.7% |
| Taxes | 450/3 | €75,414 | €18,474 | -€56,941 | -75.5% |
| Remuneration and social security | 454/9 | €13,925 | €6,841 | -€7,085 | -50.9% |
| Other amounts payable | 47/48 | €5,286,913 | €5,639,567 | +€352,654 | +6.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €571,048 | €0 | -€571,048 | -100.0% |
| Remuneration, social security and pensions | 62 | €56,873 | €70,827 | +€13,954 | +24.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,595 | €42,552 | +€5,958 | +16.3% |
| Other operating charges | 640/8 | €1,334 | €1,062 | -€272 | -20.4% |
| Non-recurring operating charges | 66A | €522,082 | €0 | -€522,082 | -100.0% |
| Gross operating margin | 9900 | €787,892 | €278,349 | -€509,543 | -64.7% |
| Operating profit (loss) | 9901 | €171,009 | €163,908 | -€7,101 | -4.2% |
| Financial income | 75/76B | €6,926 | €19,959 | +€13,032 | +188.2% |
| Recurring financial income | 75 | €6,926 | €19,959 | +€13,032 | +188.2% |
| Financial charges | 65/66B | €108,492 | €194,076 | +€85,583 | +78.9% |
| Recurring financial charges | 65 | €108,492 | €194,076 | +€85,583 | +78.9% |
| Profit (loss) for the period before taxes | 9903 | €69,443 | -€10,208 | -€79,652 | |
| Income taxes | 67/77 | €23,994 | €725 | -€23,269 | -97.0% |
| Profit (loss) for the period | 9904 | €45,450 | -€10,933 | -€56,383 | |
| Transfer to tax-exempt reserves | 689 | - | €58,940 | +€58,940 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,450 | -€69,873 | -€115,323 |
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 2 October 2026 via checked.be.