BLUVERMO: 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.
BLUVERMO
Largest movements
- Cash -€101,377
down €101,377 (-54.2%), from €187,028 to €85,651
mainly Trade debts (-€494,734) and Other debts (-€94,042)
- Tangible fixed assets -€48,751
down €48,751 (-6.0%), from €816,127 to €767,376
of which Land and buildings: -€39,192
- Deferred charges and accrued income +€25,000
up €25,000 (+25.0%), from €100,000 to €125,000
- Trade debts -€494,734
down €494,734 (-99.1%), from €499,086 to €4,351
- Debts after one year +€327,790
up €327,790 (+423.8%), from €77,354 to €405,144
- Reserves +€94,249
up €94,249 (+21.8%), from €433,229 to €527,478
of which Distributable reserves: +€97,022
- Other debts -€94,042
no longer reported in 2025 (was €94,042)
- Current portion of long-term debt +€20,597
up €20,597 (+135.5%), from €15,195 to €35,792
- Depreciation -€58,749
down €58,749 (-54.7%), from €107,501 to €48,751
- Gross operating margin +€44,735
up €44,735 (+27.7%), from €161,436 to €206,172
- Taxes +€28,498
up €28,498 (+156.2%), from €18,246 to €46,744
- Financial charges +€11,005
up €11,005 (+553.6%), from €1,988 to €12,993
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 | €1,222,388 | €1,093,149 | -€129,240 | -10.6% |
| Fixed assets | 21/28 | €866,127 | €817,376 | -€48,751 | -5.6% |
| Tangible fixed assets | 22/27 | €816,127 | €767,376 | -€48,751 | -6.0% |
| Land and buildings | 22 | €794,169 | €754,977 | -€39,192 | -4.9% |
| Furniture and vehicles | 24 | €21,958 | €12,399 | -€9,559 | -43.5% |
| Financial fixed assets | 28 | €50,000 | €50,000 | = | 0.0% |
| Current assets | 29/58 | €356,261 | €275,773 | -€80,488 | -22.6% |
| Amounts receivable within one year | 40/41 | €65,683 | €61,571 | -€4,111 | -6.3% |
| Trade receivables | 40 | €1,892 | €2,164 | +€273 | +14.4% |
| Other amounts receivable | 41 | €63,791 | €59,407 | -€4,384 | -6.9% |
| Current investments | 50/53 | €3,550 | €3,550 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €187,028 | €85,651 | -€101,377 | -54.2% |
| Deferred charges and accrued income | 490/1 | €100,000 | €125,000 | +€25,000 | +25.0% |
| Total equity and liabilities | 10/49 | €1,222,388 | €1,093,149 | -€129,240 | -10.6% |
| Equity | 10/15 | €501,168 | €595,417 | +€94,249 | +18.8% |
| Contributions | 10/11 | €19,121 | €19,121 | = | 0.0% |
| Reserves | 13 | €433,229 | €527,478 | +€94,249 | +21.8% |
| Non-distributable reserves | 130/1 | €3,550 | €3,550 | = | 0.0% |
| Own shares acquired | 1312 | €3,550 | €3,550 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,259 | €67,485 | -€2,773 | -3.9% |
| Distributable reserves | 133 | €359,421 | €456,443 | +€97,022 | +27.0% |
| Profit (loss) carried forward | 14 | €48,818 | €48,818 | = | 0.0% |
| Provisions and deferred taxes | 16 | €34,605 | €33,239 | -€1,366 | -3.9% |
| Deferred taxes | 168 | €34,605 | €33,239 | -€1,366 | -3.9% |
| Amounts payable | 17/49 | €686,615 | €464,493 | -€222,122 | -32.4% |
| Amounts payable after more than one year | 17 | €77,354 | €405,144 | +€327,790 | +423.8% |
| Financial debts | 170/4 | €77,354 | €405,144 | +€327,790 | +423.8% |
| Amounts payable within one year | 42/48 | €609,006 | €57,711 | -€551,296 | -90.5% |
| Current portion of amounts payable after more than one year | 42 | €15,195 | €35,792 | +€20,597 | +135.5% |
| Trade debts | 44 | €499,086 | €4,351 | -€494,734 | -99.1% |
| Suppliers | 440/4 | €499,086 | €4,351 | -€494,734 | -99.1% |
| Taxes, remuneration and social security | 45 | €684 | €17,568 | +€16,884 | +2467.8% |
| Taxes | 450/3 | €684 | €17,568 | +€16,884 | +2467.8% |
| Other amounts payable | 47/48 | €94,042 | - | -€94,042 | |
| Accrued charges and deferred income | 492/3 | €255 | €1,639 | +€1,384 | +542.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,501 | €48,751 | -€58,749 | -54.7% |
| Other operating charges | 640/8 | €3,642 | €5,193 | +€1,551 | +42.6% |
| Gross operating margin | 9900 | €161,436 | €206,172 | +€44,735 | +27.7% |
| Operating profit (loss) | 9901 | €50,294 | €152,227 | +€101,933 | +202.7% |
| Financial income | 75/76B | €843 | €392 | -€451 | -53.5% |
| Recurring financial income | 75 | €843 | €392 | -€451 | -53.5% |
| Financial charges | 65/66B | €1,988 | €12,993 | +€11,005 | +553.6% |
| Recurring financial charges | 65 | €1,988 | €12,993 | +€11,005 | +553.6% |
| Profit (loss) for the period before taxes | 9903 | €49,148 | €139,626 | +€90,478 | +184.1% |
| Transfer from deferred taxes | 780 | €1,366 | €1,366 | = | 0.0% |
| Income taxes | 67/77 | €18,246 | €46,744 | +€28,498 | +156.2% |
| Profit (loss) for the period | 9904 | €32,269 | €94,249 | +€61,980 | +192.1% |
| Transfer from tax-exempt reserves | 789 | €2,773 | €2,773 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €35,042 | €97,022 | +€61,980 | +176.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.