BUREAU BLAVIER: 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.
BUREAU BLAVIER
Largest movements
- Receivables within one year +€268,237
up €268,237 (+59.1%), from €453,835 to €722,072
- Tangible fixed assets -€28,311
down €28,311 (-10.8%), from €262,818 to €234,507
of which Land and buildings: -€14,185
- Cash +€24,100
up €24,100 (+4.3%), from €558,875 to €582,974
mainly Trade debts (+€154,940) and Net result for the year (+€84,568)
- Trade debts +€154,940
up €154,940 (+79.8%), from €194,043 to €348,983
- Profit (loss) carried forward +€84,568
up €84,568 (+28.4%), from -€297,290 to -€212,722
- Advances received +€35,246
up €35,246 (+7.3%), from €484,366 to €519,612
- Debts after one year -€24,855
down €24,855 (-21.4%), from €115,877 to €91,022
of which Financial debts: -€24,855
- Gross operating margin -€96,583
down €96,583 (-14.2%), from €678,208 to €581,625
- Staff costs -€23,970
down €23,970 (-5.7%), from €421,053 to €397,083
- Other operating charges -€9,753
down €9,753 (-52.7%), from €18,490 to €8,737
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.
Derived cash bridge
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 | €1,292,415 | €1,567,177 | +€274,762 | +21.3% |
| Fixed assets | 21/28 | €266,456 | €236,145 | -€30,311 | -11.4% |
| Intangible fixed assets | 21 | €2,822 | €822 | -€2,000 | -70.9% |
| Tangible fixed assets | 22/27 | €262,818 | €234,507 | -€28,311 | -10.8% |
| Land and buildings | 22 | €217,162 | €202,977 | -€14,185 | -6.5% |
| Plant, machinery and equipment | 23 | €16,296 | €9,608 | -€6,688 | -41.0% |
| Furniture and vehicles | 24 | €21,108 | €14,787 | -€6,320 | -29.9% |
| Other tangible fixed assets | 26 | €8,252 | €7,134 | -€1,118 | -13.5% |
| Financial fixed assets | 28 | €816 | €816 | = | 0.0% |
| Current assets | 29/58 | €1,025,959 | €1,331,032 | +€305,073 | +29.7% |
| Amounts receivable within one year | 40/41 | €453,835 | €722,072 | +€268,237 | +59.1% |
| Trade receivables | 40 | €453,835 | €722,072 | +€268,237 | +59.1% |
| Cash at bank and in hand | 54/58 | €558,875 | €582,974 | +€24,100 | +4.3% |
| Deferred charges and accrued income | 490/1 | €13,250 | €25,986 | +€12,736 | +96.1% |
| Total equity and liabilities | 10/49 | €1,292,415 | €1,567,177 | +€274,762 | +21.3% |
| Equity | 10/15 | -€157,101 | -€72,533 | +€84,568 | +53.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Revaluation surpluses | 12 | €92,889 | €92,889 | = | 0.0% |
| Reserves | 13 | €27,300 | €27,300 | = | 0.0% |
| Distributable reserves | 133 | €27,300 | €27,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€297,290 | -€212,722 | +€84,568 | +28.4% |
| Amounts payable | 17/49 | €1,449,516 | €1,639,709 | +€190,193 | +13.1% |
| Amounts payable after more than one year | 17 | €115,877 | €91,022 | -€24,855 | -21.4% |
| Financial debts | 170/4 | €114,227 | €89,372 | -€24,855 | -21.8% |
| Other amounts payable | 178/9 | €1,650 | €1,650 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,320,840 | €1,523,353 | +€202,513 | +15.3% |
| Current portion of amounts payable after more than one year | 42 | €23,832 | €24,855 | +€1,023 | +4.3% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €194,043 | €348,983 | +€154,940 | +79.8% |
| Suppliers | 440/4 | €194,043 | €348,983 | +€154,940 | +79.8% |
| Advances received on contracts in progress | 46 | €484,366 | €519,612 | +€35,246 | +7.3% |
| Taxes, remuneration and social security | 45 | €79,257 | €90,561 | +€11,304 | +14.3% |
| Taxes | 450/3 | €41,455 | €70,544 | +€29,088 | +70.2% |
| Remuneration and social security | 454/9 | €37,801 | €20,017 | -€17,784 | -47.0% |
| Other amounts payable | 47/48 | €414,342 | €414,342 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €12,799 | €25,335 | +€12,536 | +97.9% |
| Remuneration, social security and pensions | 62 | €421,053 | €397,083 | -€23,970 | -5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,880 | €32,334 | +€454 | +1.4% |
| Other operating charges | 640/8 | €18,490 | €8,737 | -€9,753 | -52.7% |
| Non-recurring operating charges | 66A | €44,550 | €16,597 | -€27,954 | -62.7% |
| Gross operating margin | 9900 | €678,208 | €581,625 | -€96,583 | -14.2% |
| Operating profit (loss) | 9901 | €162,234 | €126,873 | -€35,361 | -21.8% |
| Financial income | 75/76B | - | €39 | +€39 | |
| Recurring financial income | 75 | - | €39 | +€39 | |
| Financial charges | 65/66B | €40,847 | €42,343 | +€1,497 | +3.7% |
| Recurring financial charges | 65 | €40,847 | €42,343 | +€1,497 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | €121,388 | €84,568 | -€36,819 | -30.3% |
| Income taxes | 67/77 | €3,670 | - | -€3,670 | |
| Profit (loss) for the period | 9904 | €117,718 | €84,568 | -€33,149 | -28.2% |
| Profit (loss) for the period to be appropriated | 9905 | €117,718 | €84,568 | -€33,149 | -28.2% |
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 18 October 2026 via checked.be.