Classic Blue: 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.
Classic Blue
Largest movements
- Current investments -€53,350
down €53,350 (-32.3%), from €165,283 to €111,932
- Cash -€43,132
down €43,132 (-80.9%), from €53,342 to €10,211
mainly Contributions, distributions and other (-€339,706) and Tax, wage and social debts (-€11,410)
- Tangible fixed assets -€28,059
down €28,059 (-4.5%), from €620,076 to €592,017
of which Land and buildings: -€29,193
- Reserves -€312,698
down €312,698 (-92.0%), from €339,706 to €27,009
- Debts after one year +€193,584
up €193,584 (+46.5%), from €416,005 to €609,589
of which Other amounts payable: +€237,453
- Current portion of long-term debt +€12,514
up €12,514 (+45.8%), from €27,323 to €39,837
- Tax, wage and social debts -€11,410
down €11,410 (-54.2%), from €21,045 to €9,635
- Gross operating margin -€52,091
down €52,091 (-36.6%), from €142,393 to €90,302
- Taxes -€4,915
down €4,915 (-24.5%), from €20,070 to €15,155
- Financial charges -€3,836
down €3,836 (-17.5%), from €21,973 to €18,137
- Financial income +€2,855
up €2,855 (+573.6%), from €498 to €3,353
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 | €848,344 | €722,925 | -€125,418 | -14.8% |
| Fixed assets | 21/28 | €620,076 | €592,017 | -€28,059 | -4.5% |
| Tangible fixed assets | 22/27 | €620,076 | €592,017 | -€28,059 | -4.5% |
| Land and buildings | 22 | €611,174 | €581,981 | -€29,193 | -4.8% |
| Furniture and vehicles | 24 | €8,902 | €10,036 | +€1,134 | +12.7% |
| Current assets | 29/58 | €228,268 | €130,908 | -€97,359 | -42.7% |
| Amounts receivable after more than one year | 29 | - | €199 | +€199 | |
| Other amounts receivable | 291 | - | €199 | +€199 | |
| Amounts receivable within one year | 40/41 | €7,063 | €7,056 | -€6 | -0.1% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €7,063 | €7,056 | -€6 | -0.1% |
| Current investments | 50/53 | €165,283 | €111,932 | -€53,350 | -32.3% |
| Cash at bank and in hand | 54/58 | €53,342 | €10,211 | -€43,132 | -80.9% |
| Deferred charges and accrued income | 490/1 | €2,580 | €1,510 | -€1,071 | -41.5% |
| Total equity and liabilities | 10/49 | €848,344 | €722,925 | -€125,418 | -14.8% |
| Equity | 10/15 | €364,706 | €52,009 | -€312,698 | -85.7% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €339,706 | €27,009 | -€312,698 | -92.0% |
| Distributable reserves | 133 | €339,706 | €27,009 | -€312,698 | -92.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €483,637 | €670,917 | +€187,279 | +38.7% |
| Amounts payable after more than one year | 17 | €416,005 | €609,589 | +€193,584 | +46.5% |
| Financial debts | 170/4 | €207,972 | €164,103 | -€43,869 | -21.1% |
| Other amounts payable | 178/9 | €208,033 | €445,486 | +€237,453 | +114.1% |
| Amounts payable within one year | 42/48 | €67,525 | €61,306 | -€6,219 | -9.2% |
| Current portion of amounts payable after more than one year | 42 | €27,323 | €39,837 | +€12,514 | +45.8% |
| Trade debts | 44 | €1,007 | €1,751 | +€744 | +73.9% |
| Suppliers | 440/4 | €1,007 | €1,751 | +€744 | +73.9% |
| Advances received on contracts in progress | 46 | €18,150 | €10,083 | -€8,067 | -44.4% |
| Taxes, remuneration and social security | 45 | €21,045 | €9,635 | -€11,410 | -54.2% |
| Taxes | 450/3 | €21,045 | €9,635 | -€11,410 | -54.2% |
| Accrued charges and deferred income | 492/3 | €107 | €22 | -€86 | -79.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,742 | €32,368 | +€626 | +2.0% |
| Other operating charges | 640/8 | €1,880 | €986 | -€894 | -47.5% |
| Gross operating margin | 9900 | €142,393 | €90,302 | -€52,091 | -36.6% |
| Operating profit (loss) | 9901 | €108,771 | €56,948 | -€51,823 | -47.6% |
| Financial income | 75/76B | €498 | €3,353 | +€2,855 | +573.6% |
| Recurring financial income | 75 | €498 | €3,353 | +€2,855 | +573.6% |
| Financial charges | 65/66B | €21,973 | €18,137 | -€3,836 | -17.5% |
| Recurring financial charges | 65 | €21,973 | €18,137 | -€3,836 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €87,296 | €42,163 | -€45,133 | -51.7% |
| Income taxes | 67/77 | €20,070 | €15,155 | -€4,915 | -24.5% |
| Profit (loss) for the period | 9904 | €67,226 | €27,009 | -€40,217 | -59.8% |
| Profit (loss) for the period to be appropriated | 9905 | €67,226 | €27,009 | -€40,217 | -59.8% |
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 9 October 2026 via checked.be.