DEBLAUWE: 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.
DEBLAUWE
Largest movements
- Current investments +€131,309
new in 2025: €131,309
- Cash -€80,248
down €80,248 (-17.2%), from €466,411 to €386,164
mainly Current investments (-€131,309) and Contributions, distributions and other (-€76,250)
- Receivables within one year -€24,071
down €24,071 (-31.8%), from €75,807 to €51,736
of which Trade receivables: -€23,697
- Reserves +€14,533
up €14,533 (+2.8%), from €516,516 to €531,050
of which Distributable reserves: +€14,533
- Other debts +€10,254
up €10,254 (+46.5%), from €22,051 to €32,306
- Gross operating margin -€32,082
down €32,082 (-20.3%), from €157,951 to €125,869
- Taxes -€9,870
down €9,870 (-20.8%), from €47,440 to €37,570
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 | €547,396 | €572,138 | +€24,743 | +4.5% |
| Fixed assets | 21/28 | €5,177 | €2,930 | -€2,247 | -43.4% |
| Tangible fixed assets | 22/27 | €5,177 | €2,930 | -€2,247 | -43.4% |
| Land and buildings | 22 | €471 | - | -€471 | |
| Plant, machinery and equipment | 23 | €2,475 | €1,248 | -€1,227 | -49.6% |
| Furniture and vehicles | 24 | €2,231 | €1,682 | -€549 | -24.6% |
| Current assets | 29/58 | €542,219 | €569,208 | +€26,989 | +5.0% |
| Amounts receivable within one year | 40/41 | €75,807 | €51,736 | -€24,071 | -31.8% |
| Trade receivables | 40 | €63,103 | €39,405 | -€23,697 | -37.6% |
| Other amounts receivable | 41 | €12,705 | €12,331 | -€374 | -2.9% |
| Current investments | 50/53 | - | €131,309 | +€131,309 | |
| Cash at bank and in hand | 54/58 | €466,411 | €386,164 | -€80,248 | -17.2% |
| Total equity and liabilities | 10/49 | €547,396 | €572,138 | +€24,743 | +4.5% |
| Equity | 10/15 | €523,867 | €538,400 | +€14,533 | +2.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €516,516 | €531,050 | +€14,533 | +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 | €514,656 | €529,190 | +€14,533 | +2.8% |
| Profit (loss) carried forward | 14 | €1,150 | €1,150 | = | 0.0% |
| Amounts payable | 17/49 | €23,529 | €33,738 | +€10,209 | +43.4% |
| Amounts payable within one year | 42/48 | €23,529 | €33,738 | +€10,209 | +43.4% |
| Trade debts | 44 | €1,478 | €832 | -€645 | -43.7% |
| Suppliers | 440/4 | €1,478 | €832 | -€645 | -43.7% |
| Taxes, remuneration and social security | 45 | - | €600 | +€600 | |
| Taxes | 450/3 | - | €600 | +€600 | |
| Other amounts payable | 47/48 | €22,051 | €32,306 | +€10,254 | +46.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,388 | €2,247 | -€142 | -5.9% |
| Other operating charges | 640/8 | €577 | €866 | +€289 | +50.1% |
| Gross operating margin | 9900 | €157,951 | €125,869 | -€32,082 | -20.3% |
| Operating profit (loss) | 9901 | €154,986 | €122,755 | -€32,230 | -20.8% |
| Financial income | 75/76B | €4,635 | €5,704 | +€1,069 | +23.1% |
| Recurring financial income | 75 | €4,635 | €5,704 | +€1,069 | +23.1% |
| Financial charges | 65/66B | €324 | €106 | -€219 | -67.5% |
| Recurring financial charges | 65 | €324 | €106 | -€219 | -67.5% |
| Profit (loss) for the period before taxes | 9903 | €159,296 | €128,354 | -€30,942 | -19.4% |
| Income taxes | 67/77 | €47,440 | €37,570 | -€9,870 | -20.8% |
| Profit (loss) for the period | 9904 | €111,856 | €90,784 | -€21,072 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €111,856 | €90,784 | -€21,072 | -18.8% |
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 16 October 2026 via checked.be.