BLW INVEST: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
BLW INVEST
Largest movements
- Receivables within one year +€25,651
up €25,651 (+658%), from €3,900 to €29,551
- Tangible fixed assets -€24,150
down €24,150 (-5.4%), from €447,704 to €423,553
of which Land and buildings: -€22,278
- Debts after one year +€28,626
up €28,626 (+6.2%), from €462,586 to €491,212
of which Other amounts payable: +€40,486
- Other debts -€22,759
down €22,759 (-82.2%), from €27,690 to €4,932
- Gross operating margin -€7,878
down €7,878 (-16.2%), from €48,657 to €40,779
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €515,892 | €521,690 | +€5,798 | +1.1% |
| Fixed assets | 21/28 | €510,399 | €486,248 | -€24,150 | -4.7% |
| Tangible fixed assets | 22/27 | €447,704 | €423,553 | -€24,150 | -5.4% |
| Land and buildings | 22 | €435,540 | €413,262 | -€22,278 | -5.1% |
| Plant, machinery and equipment | 23 | €12,163 | €10,291 | -€1,872 | -15.4% |
| Financial fixed assets | 28 | €62,695 | €62,695 | = | 0.0% |
| Current assets | 29/58 | €5,494 | €35,442 | +€29,948 | +545% |
| Amounts receivable within one year | 40/41 | €3,900 | €29,551 | +€25,651 | +658% |
| Trade receivables | 40 | €3,900 | €29,551 | +€25,651 | +658% |
| Cash at bank and in hand | 54/58 | €854 | €5,033 | +€4,180 | +490% |
| Deferred charges and accrued income | 490/1 | €740 | €858 | +€118 | +15.9% |
| Total equity and liabilities | 10/49 | €515,892 | €521,690 | +€5,798 | +1.1% |
| Equity | 10/15 | €1,611 | €4,665 | +€3,054 | +190% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,925 | €10,925 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €9,065 | €9,065 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,914 | -€24,860 | +€3,054 | +10.9% |
| Amounts payable | 17/49 | €514,281 | €517,025 | +€2,744 | +0.5% |
| Amounts payable after more than one year | 17 | €462,586 | €491,212 | +€28,626 | +6.2% |
| Financial debts | 170/4 | €182,362 | €170,502 | -€11,860 | -6.5% |
| Other amounts payable | 178/9 | €280,224 | €320,710 | +€40,486 | +14.4% |
| Amounts payable within one year | 42/48 | €49,887 | €23,857 | -€26,030 | -52.2% |
| Current portion of amounts payable after more than one year | 42 | €15,571 | €11,860 | -€3,711 | -23.8% |
| Trade debts | 44 | €3,102 | €2,073 | -€1,029 | -33.2% |
| Suppliers | 440/4 | €3,102 | €2,073 | -€1,029 | -33.2% |
| Advances received on contracts in progress | 46 | - | €751 | +€751 | |
| Taxes, remuneration and social security | 45 | €3,523 | €4,241 | +€718 | +20.4% |
| Taxes | 450/3 | €3,523 | €4,241 | +€718 | +20.4% |
| Other amounts payable | 47/48 | €27,690 | €4,932 | -€22,759 | -82.2% |
| Accrued charges and deferred income | 492/3 | €1,808 | €1,956 | +€148 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,036 | €24,150 | +€114 | +0.5% |
| Other operating charges | 640/8 | €4,667 | €4,724 | +€57 | +1.2% |
| Gross operating margin | 9900 | €48,657 | €40,779 | -€7,878 | -16.2% |
| Operating profit (loss) | 9901 | €19,953 | €11,904 | -€8,049 | -40.3% |
| Financial charges | 65/66B | €8,924 | €8,851 | -€73 | -0.8% |
| Recurring financial charges | 65 | €8,924 | €8,851 | -€73 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €11,030 | €3,054 | -€7,976 | -72.3% |
| Profit (loss) for the period | 9904 | €11,030 | €3,054 | -€7,976 | -72.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,030 | €3,054 | -€7,976 | -72.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.