BLUTSQI: 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.
BLUTSQI
Largest movements
- Cash +€269,010
up €269,010 (+303.2%), from €88,731 to €357,741
mainly Net result for the year (+€379,731) and Other debts (+€163,500)
- Tangible fixed assets +€60,127
up €60,127 (+1.9%), from €3.1m to €3.2m
of which Furniture and vehicles: +€33,573
- Deferred charges and accrued income -€52,287
down €52,287 (-72.8%), from €71,847 to €19,560
- Other debts +€163,500
up €163,500 (+218.0%), from €75,000 to €238,500
- Reserves +€155,642
up €155,642 (+52.6%), from €296,000 to €451,642
of which Distributable reserves: +€195,779
- Debts after one year -€66,631
down €66,631 (-3.4%), from €1.9m to €1.9m
- Tax, wage and social debts +€40,825
up €40,825 (+45.5%), from €89,674 to €130,498
of which Remuneration and social security: +€36,919
- Gross operating margin +€332,282
up €332,282 (+33.6%), from €989,886 to €1.3m
- Staff costs +€133,164
up €133,164 (+23.7%), from €562,701 to €695,865
- Depreciation +€27,458
up €27,458 (+44.9%), from €61,181 to €88,639
- Taxes +€13,425
up €13,425 (+27.3%), from €49,145 to €62,570
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 | €3,449,323 | €3,726,641 | +€277,318 | +8.0% |
| Fixed assets | 21/28 | €3,117,350 | €3,177,477 | +€60,127 | +1.9% |
| Tangible fixed assets | 22/27 | €3,117,150 | €3,177,277 | +€60,127 | +1.9% |
| Land and buildings | 22 | €3,047,206 | €3,061,190 | +€13,984 | +0.5% |
| Plant, machinery and equipment | 23 | €66,232 | €78,803 | +€12,570 | +19.0% |
| Furniture and vehicles | 24 | €3,711 | €37,285 | +€33,573 | +904.6% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €331,974 | €549,164 | +€217,191 | +65.4% |
| Stocks and contracts in progress | 3 | €12,210 | €28,677 | +€16,467 | +134.9% |
| Stocks | 30/36 | €12,210 | €28,677 | +€16,467 | +134.9% |
| Amounts receivable within one year | 40/41 | €159,186 | €143,186 | -€15,999 | -10.1% |
| Trade receivables | 40 | €159,186 | €143,186 | -€15,999 | -10.1% |
| Cash at bank and in hand | 54/58 | €88,731 | €357,741 | +€269,010 | +303.2% |
| Deferred charges and accrued income | 490/1 | €71,847 | €19,560 | -€52,287 | -72.8% |
| Total equity and liabilities | 10/49 | €3,449,323 | €3,726,641 | +€277,318 | +8.0% |
| Equity | 10/15 | €991,280 | €1,146,010 | +€154,731 | +15.6% |
| Contributions | 10/11 | €549,368 | €549,368 | = | 0.0% |
| Revaluation surpluses | 12 | €145,000 | €145,000 | = | 0.0% |
| Reserves | 13 | €296,000 | €451,642 | +€155,642 | +52.6% |
| Non-distributable reserves | 130/1 | €40,137 | €0 | -€40,137 | -100.0% |
| Reserves not available under the articles | 1311 | €40,137 | €0 | -€40,137 | -100.0% |
| Tax-exempt reserves | 132 | €15,864 | €15,864 | = | 0.0% |
| Distributable reserves | 133 | €240,000 | €435,779 | +€195,779 | +81.6% |
| Profit (loss) carried forward | 14 | €911 | €0 | -€911 | -100.0% |
| Amounts payable | 17/49 | €2,458,043 | €2,580,631 | +€122,588 | +5.0% |
| Amounts payable after more than one year | 17 | €1,949,883 | €1,883,251 | -€66,631 | -3.4% |
| Financial debts | 170/4 | €1,949,883 | €1,883,251 | -€66,631 | -3.4% |
| Amounts payable within one year | 42/48 | €469,056 | €657,687 | +€188,631 | +40.2% |
| Current portion of amounts payable after more than one year | 42 | €169,109 | €132,631 | -€36,478 | -21.6% |
| Financial debts | 43 | €72,895 | €57,872 | -€15,023 | -20.6% |
| Credit institutions | 430/8 | €72,895 | €57,872 | -€15,023 | -20.6% |
| Trade debts | 44 | €62,378 | €98,186 | +€35,808 | +57.4% |
| Suppliers | 440/4 | €62,378 | €98,186 | +€35,808 | +57.4% |
| Taxes, remuneration and social security | 45 | €89,674 | €130,498 | +€40,825 | +45.5% |
| Taxes | 450/3 | €43,366 | €47,272 | +€3,906 | +9.0% |
| Remuneration and social security | 454/9 | €46,308 | €83,226 | +€36,919 | +79.7% |
| Other amounts payable | 47/48 | €75,000 | €238,500 | +€163,500 | +218.0% |
| Accrued charges and deferred income | 492/3 | €39,104 | €39,692 | +€588 | +1.5% |
| Non-recurring operating income | 76A | €0 | €207 | +€207 | |
| Remuneration, social security and pensions | 62 | €562,701 | €695,865 | +€133,164 | +23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,181 | €88,639 | +€27,458 | +44.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,725 | -€1,741 | -€10,466 | |
| Other operating charges | 640/8 | €28,325 | €19,754 | -€8,571 | -30.3% |
| Gross operating margin | 9900 | €989,886 | €1,322,169 | +€332,282 | +33.6% |
| Operating profit (loss) | 9901 | €328,954 | €519,652 | +€190,697 | +58.0% |
| Financial income | 75/76B | €556 | €1,459 | +€903 | +162.5% |
| Recurring financial income | 75 | €556 | €1,459 | +€903 | +162.5% |
| Financial charges | 65/66B | €80,116 | €78,810 | -€1,305 | -1.6% |
| Recurring financial charges | 65 | €80,116 | €78,810 | -€1,305 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €249,395 | €442,301 | +€192,906 | +77.3% |
| Income taxes | 67/77 | €49,145 | €62,570 | +€13,425 | +27.3% |
| Profit (loss) for the period | 9904 | €200,250 | €379,731 | +€179,481 | +89.6% |
| Profit (loss) for the period to be appropriated | 9905 | €200,250 | €379,731 | +€179,481 | +89.6% |
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 12 October 2026 via checked.be.