CBLUE: 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.
CBLUE
Largest movements
- Current investments -€400,000
no longer reported in 2025 (was €400,000)
- Cash +€330,098
up €330,098 (+21.2%), from €1.6m to €1.9m
mainly Current investments (+€400,000) and Net result for the year (+€338,654)
- Receivables within one year -€123,642
down €123,642 (-15.6%), from €790,186 to €666,544
of which Trade receivables: -€68,336
- Tangible fixed assets +€83,046
up €83,046 (+5.0%), from €1.7m to €1.7m
of which Land and buildings: +€248,460
- Deferred charges and accrued income +€54,906
new in 2025: €54,906
- Profit (loss) carried forward +€188,654
up €188,654 (+15.9%), from €1.2m to €1.4m
- Tax, wage and social debts -€92,250
down €92,250 (-33.7%), from €273,752 to €181,501
of which Taxes: -€90,127
- Debts after one year -€64,758
down €64,758 (-12.9%), from €501,826 to €437,068
- Trade debts -€61,010
down €61,010 (-44.5%), from €137,218 to €76,208
- Reserves -€50,000
down €50,000 (-2.8%), from €1.8m to €1.8m
of which Distributable reserves: -€50,000
- Gross operating margin -€695,572
down €695,572 (-24.3%), from €2.9m to €2.2m
- Taxes -€299,225
down €299,225 (-72.7%), from €411,631 to €112,406
- Staff costs +€164,037
up €164,037 (+12.9%), from €1.3m to €1.4m
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 | €4,429,330 | €4,371,931 | -€57,399 | -1.3% |
| Fixed assets | 21/28 | €1,684,906 | €1,766,144 | +€81,238 | +4.8% |
| Intangible fixed assets | 21 | €2,543 | €734 | -€1,808 | -71.1% |
| Tangible fixed assets | 22/27 | €1,658,549 | €1,741,595 | +€83,046 | +5.0% |
| Land and buildings | 22 | €1,057,328 | €1,305,788 | +€248,460 | +23.5% |
| Plant, machinery and equipment | 23 | €126,352 | €79,538 | -€46,814 | -37.1% |
| Furniture and vehicles | 24 | €474,869 | €356,270 | -€118,599 | -25.0% |
| Financial fixed assets | 28 | €23,814 | €23,814 | = | 0.0% |
| Current assets | 29/58 | €2,744,424 | €2,605,787 | -€138,637 | -5.1% |
| Amounts receivable within one year | 40/41 | €790,186 | €666,544 | -€123,642 | -15.6% |
| Trade receivables | 40 | €630,656 | €562,321 | -€68,336 | -10.8% |
| Other amounts receivable | 41 | €159,530 | €104,224 | -€55,306 | -34.7% |
| Current investments | 50/53 | €400,000 | - | -€400,000 | |
| Cash at bank and in hand | 54/58 | €1,554,238 | €1,884,336 | +€330,098 | +21.2% |
| Deferred charges and accrued income | 490/1 | - | €54,906 | +€54,906 | |
| Total equity and liabilities | 10/49 | €4,429,330 | €4,371,931 | -€57,399 | -1.3% |
| Equity | 10/15 | €3,099,466 | €3,227,200 | +€127,734 | +4.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | - | -€18,600 | |
| Other | 1109/19 | €18,600 | - | -€18,600 | |
| Reserves | 13 | €1,808,860 | €1,758,860 | -€50,000 | -2.8% |
| 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 | €1,807,000 | €1,757,000 | -€50,000 | -2.8% |
| Profit (loss) carried forward | 14 | €1,184,646 | €1,373,300 | +€188,654 | +15.9% |
| Investment grants | 15 | €87,360 | €76,440 | -€10,920 | -12.5% |
| Amounts payable | 17/49 | €1,329,864 | €1,144,731 | -€185,133 | -13.9% |
| Amounts payable after more than one year | 17 | €501,826 | €437,068 | -€64,758 | -12.9% |
| Financial debts | 170/4 | €501,826 | €437,068 | -€64,758 | -12.9% |
| Amounts payable within one year | 42/48 | €767,596 | €627,561 | -€140,035 | -18.2% |
| Current portion of amounts payable after more than one year | 42 | €76,589 | €64,758 | -€11,831 | -15.4% |
| Trade debts | 44 | €137,218 | €76,208 | -€61,010 | -44.5% |
| Suppliers | 440/4 | €137,218 | €76,208 | -€61,010 | -44.5% |
| Taxes, remuneration and social security | 45 | €273,752 | €181,501 | -€92,250 | -33.7% |
| Taxes | 450/3 | €138,659 | €48,532 | -€90,127 | -65.0% |
| Remuneration and social security | 454/9 | €135,093 | €132,969 | -€2,123 | -1.6% |
| Other amounts payable | 47/48 | €280,038 | €305,094 | +€25,057 | +8.9% |
| Accrued charges and deferred income | 492/3 | €60,442 | €80,102 | +€19,660 | +32.5% |
| Non-recurring operating income | 76A | €50 | €38,447 | +€38,397 | +76794.7% |
| Remuneration, social security and pensions | 62 | €1,272,988 | €1,437,025 | +€164,037 | +12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €281,662 | €300,488 | +€18,827 | +6.7% |
| Other operating charges | 640/8 | €2,413 | €3,436 | +€1,023 | +42.4% |
| Gross operating margin | 9900 | €2,867,784 | €2,172,212 | -€695,572 | -24.3% |
| Operating profit (loss) | 9901 | €1,310,722 | €431,263 | -€879,458 | -67.1% |
| Financial income | 75/76B | €25,866 | €30,692 | +€4,826 | +18.7% |
| Recurring financial income | 75 | €25,866 | €28,695 | +€2,829 | +10.9% |
| Non-recurring financial income | 76B | - | €1,997 | +€1,997 | |
| Financial charges | 65/66B | €12,424 | €10,895 | -€1,528 | -12.3% |
| Recurring financial charges | 65 | €12,424 | €10,895 | -€1,528 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €1,324,165 | €451,061 | -€873,104 | -65.9% |
| Income taxes | 67/77 | €411,631 | €112,406 | -€299,225 | -72.7% |
| Profit (loss) for the period | 9904 | €912,534 | €338,654 | -€573,879 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €912,534 | €338,654 | -€573,879 | -62.9% |
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 3 October 2026 via checked.be.