BlueTrees: 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.
BlueTrees
Largest movements
- Cash -€499,186
down €499,186 (-31.1%), from €1.6m to €1.1m
mainly Contributions, distributions and other (-€2.3m) and Other debts (-€397,528)
- Receivables within one year +€148,187
up €148,187 (+15.7%), from €944,975 to €1.1m
of which Trade receivables: +€113,235
- Other debts -€397,528
down €397,528 (-14.8%), from €2.7m to €2.3m
- Tax, wage and social debts +€76,086
up €76,086 (+60.9%), from €125,000 to €201,086
of which Taxes: +€64,454
- Trade debts -€30,132
down €30,132 (-34.2%), from €88,120 to €57,988
- Gross operating margin +€401,364
up €401,364 (+15.0%), from €2.7m to €3.1m
- Taxes +€72,059
up €72,059 (+25.9%), from €277,900 to €349,959
- Staff costs +€58,815
up €58,815 (+22.6%), from €260,103 to €318,919
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 | €2,957,944 | €2,606,369 | -€351,575 | -11.9% |
| Fixed assets | 21/28 | €385,534 | €389,967 | +€4,433 | +1.1% |
| Tangible fixed assets | 22/27 | €384,660 | €389,134 | +€4,474 | +1.2% |
| Plant, machinery and equipment | 23 | €335,508 | €347,333 | +€11,825 | +3.5% |
| Furniture and vehicles | 24 | €46,652 | €39,301 | -€7,351 | -15.8% |
| Other tangible fixed assets | 26 | €2,500 | €2,500 | = | 0.0% |
| Financial fixed assets | 28 | €874 | €833 | -€41 | -4.7% |
| Current assets | 29/58 | €2,572,410 | €2,216,402 | -€356,008 | -13.8% |
| Amounts receivable within one year | 40/41 | €944,975 | €1,093,162 | +€148,187 | +15.7% |
| Trade receivables | 40 | €833,114 | €946,349 | +€113,235 | +13.6% |
| Other amounts receivable | 41 | €111,861 | €146,813 | +€34,952 | +31.2% |
| Cash at bank and in hand | 54/58 | €1,607,430 | €1,108,245 | -€499,186 | -31.1% |
| Deferred charges and accrued income | 490/1 | €20,005 | €14,996 | -€5,009 | -25.0% |
| Total equity and liabilities | 10/49 | €2,957,944 | €2,606,369 | -€351,575 | -11.9% |
| Equity | 10/15 | €67,650 | €67,650 | = | 0.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,890,294 | €2,538,719 | -€351,575 | -12.2% |
| Amounts payable within one year | 42/48 | €2,890,294 | €2,538,719 | -€351,575 | -12.2% |
| Trade debts | 44 | €88,120 | €57,988 | -€30,132 | -34.2% |
| Suppliers | 440/4 | €88,120 | €57,988 | -€30,132 | -34.2% |
| Taxes, remuneration and social security | 45 | €125,000 | €201,086 | +€76,086 | +60.9% |
| Taxes | 450/3 | €107,130 | €171,584 | +€64,454 | +60.2% |
| Remuneration and social security | 454/9 | €17,870 | €29,502 | +€11,632 | +65.1% |
| Other amounts payable | 47/48 | €2,677,174 | €2,279,646 | -€397,528 | -14.8% |
| Non-recurring operating income | 76A | €945 | €1,819 | +€874 | +92.4% |
| Remuneration, social security and pensions | 62 | €260,103 | €318,919 | +€58,815 | +22.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,170 | €129,610 | +€13,440 | +11.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,249 | €1,266 | +€17 | +1.3% |
| Non-recurring operating charges | 66A | €17,774 | €975 | -€16,799 | -94.5% |
| Gross operating margin | 9900 | €2,675,003 | €3,076,367 | +€401,364 | +15.0% |
| Operating profit (loss) | 9901 | €2,279,707 | €2,625,598 | +€345,891 | +15.2% |
| Financial income | 75/76B | €24,167 | €1,323 | -€22,844 | -94.5% |
| Recurring financial income | 75 | €24,167 | €1,323 | -€22,844 | -94.5% |
| Financial charges | 65/66B | €1,281 | €913 | -€369 | -28.8% |
| Recurring financial charges | 65 | €1,281 | €913 | -€369 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €2,302,593 | €2,626,009 | +€323,416 | +14.0% |
| Income taxes | 67/77 | €277,900 | €349,959 | +€72,059 | +25.9% |
| Profit (loss) for the period | 9904 | €2,024,694 | €2,276,050 | +€251,357 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,024,694 | €2,276,050 | +€251,357 | +12.4% |
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 8 October 2026 via checked.be.