DE BLAUWE REIGER: 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.
DE BLAUWE REIGER
Largest movements
- Tangible fixed assets -€59,604
down €59,604 (-5.1%), from €1.2m to €1.1m
of which Land and buildings: -€33,749
- Cash -€53,553
down €53,553 (-89.7%), from €59,681 to €6,128
mainly Net result for the year (-€90,847) and Debts after one year (-€47,422)
- Receivables within one year -€18,059
down €18,059 (-95.5%), from €18,912 to €852
- Profit (loss) carried forward -€90,847
new in 2025: -€90,847
- Debts after one year -€47,422
down €47,422 (-5.5%), from €862,637 to €815,216
- Other debts +€47,185
up €47,185 (+17.0%), from €277,255 to €324,440
- Trade debts -€19,669
down €19,669 (-82.8%), from €23,750 to €4,081
- Tax, wage and social debts -€14,616
down €14,616 (-78.6%), from €18,594 to €3,978
of which Remuneration and social security: -€9,646
- Gross operating margin -€61,405
down €61,405 (-73.5%), from €83,507 to €22,102
- Other operating charges +€15,811
up €15,811 (+206%), from €7,661 to €23,472
- Staff costs -€5,718
down €5,718 (-61.0%), from €9,376 to €3,658
- Depreciation +€2,427
up €2,427 (+3.4%), from €70,450 to €72,877
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 | €1,262,735 | €1,133,036 | -€129,699 | -10.3% |
| Fixed assets | 21/28 | €1,172,915 | €1,113,311 | -€59,604 | -5.1% |
| Tangible fixed assets | 22/27 | €1,172,915 | €1,113,311 | -€59,604 | -5.1% |
| Land and buildings | 22 | €949,966 | €916,217 | -€33,749 | -3.6% |
| Plant, machinery and equipment | 23 | €46,635 | €36,528 | -€10,107 | -21.7% |
| Furniture and vehicles | 24 | €176,314 | €160,566 | -€15,748 | -8.9% |
| Current assets | 29/58 | €89,820 | €19,725 | -€70,096 | -78.0% |
| Stocks and contracts in progress | 3 | €8,312 | €8,983 | +€670 | +8.1% |
| Stocks | 30/36 | €8,312 | €8,983 | +€670 | +8.1% |
| Amounts receivable within one year | 40/41 | €18,912 | €852 | -€18,059 | -95.5% |
| Trade receivables | 40 | €18,912 | €852 | -€18,059 | -95.5% |
| Cash at bank and in hand | 54/58 | €59,681 | €6,128 | -€53,553 | -89.7% |
| Deferred charges and accrued income | 490/1 | €2,916 | €3,762 | +€847 | +29.0% |
| Total equity and liabilities | 10/49 | €1,262,735 | €1,133,036 | -€129,699 | -10.3% |
| Equity | 10/15 | €28,747 | -€62,100 | -€90,847 | |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €9,747 | €9,747 | = | 0.0% |
| Distributable reserves | 133 | €9,747 | €9,747 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€90,847 | -€90,847 | |
| Amounts payable | 17/49 | €1,233,988 | €1,195,136 | -€38,852 | -3.1% |
| Amounts payable after more than one year | 17 | €862,637 | €815,216 | -€47,422 | -5.5% |
| Financial debts | 170/4 | €862,637 | €815,216 | -€47,422 | -5.5% |
| Amounts payable within one year | 42/48 | €371,350 | €379,920 | +€8,569 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €51,752 | €47,422 | -€4,330 | -8.4% |
| Trade debts | 44 | €23,750 | €4,081 | -€19,669 | -82.8% |
| Suppliers | 440/4 | €23,750 | €4,081 | -€19,669 | -82.8% |
| Taxes, remuneration and social security | 45 | €18,594 | €3,978 | -€14,616 | -78.6% |
| Taxes | 450/3 | €8,777 | €3,807 | -€4,970 | -56.6% |
| Remuneration and social security | 454/9 | €9,817 | €171 | -€9,646 | -98.3% |
| Other amounts payable | 47/48 | €277,255 | €324,440 | +€47,185 | +17.0% |
| Remuneration, social security and pensions | 62 | €9,376 | €3,658 | -€5,718 | -61.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,450 | €72,877 | +€2,427 | +3.4% |
| Other operating charges | 640/8 | €7,661 | €23,472 | +€15,811 | +206% |
| Non-recurring operating charges | 66A | - | €3,508 | +€3,508 | |
| Gross operating margin | 9900 | €83,507 | €22,102 | -€61,405 | -73.5% |
| Operating profit (loss) | 9901 | -€3,979 | -€81,412 | -€77,433 | -1,946% |
| Financial income | 75/76B | €49 | €0 | -€49 | -100% |
| Recurring financial income | 75 | €49 | €0 | -€49 | -100% |
| Financial charges | 65/66B | €9,393 | €9,435 | +€42 | +0.4% |
| Recurring financial charges | 65 | €9,393 | €9,435 | +€42 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,323 | -€90,847 | -€77,524 | -582% |
| Profit (loss) for the period | 9904 | -€13,323 | -€90,847 | -€77,524 | -582% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,323 | -€90,847 | -€77,524 | -582% |
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 26 October 2026 via checked.be.