FILETS BLEUS: 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.
FILETS BLEUS
Largest movements
- Tangible fixed assets -€49,209
down €49,209 (-3.7%), from €1.3m to €1.3m
of which Land and buildings: -€47,763
- Reserves -€18,083
down €18,083 (-3.4%), from €524,907 to €506,825
of which Tax-exempt reserves: -€29,243
- Provisions -€15,058
down €15,058 (-6.1%), from €245,642 to €230,585
- Gross operating margin +€12,641
up €12,641 (+99.5%), from €12,699 to €25,340
- Depreciation -€9,652
down €9,652 (-16.4%), from €58,860 to €49,209
- Other operating charges +€1,320
up €1,320 (+21.4%), from €6,172 to €7,492
- Taxes +€1,184
up €1,184 (+354%), from €335 to €1,519
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,351,542 | €1,314,599 | -€36,943 | -2.7% |
| Fixed assets | 21/28 | €1,342,808 | €1,293,599 | -€49,209 | -3.7% |
| Tangible fixed assets | 22/27 | €1,342,808 | €1,293,599 | -€49,209 | -3.7% |
| Land and buildings | 22 | €1,341,362 | €1,293,599 | -€47,763 | -3.6% |
| Furniture and vehicles | 24 | €1,446 | - | -€1,446 | |
| Current assets | 29/58 | €8,734 | €21,000 | +€12,266 | +140% |
| Cash at bank and in hand | 54/58 | €7,462 | €19,444 | +€11,982 | +161% |
| Deferred charges and accrued income | 490/1 | €1,272 | €1,556 | +€284 | +22.3% |
| Total equity and liabilities | 10/49 | €1,351,542 | €1,314,599 | -€36,943 | -2.7% |
| Equity | 10/15 | €543,592 | €525,511 | -€18,081 | -3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €524,907 | €506,825 | -€18,083 | -3.4% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Tax-exempt reserves | 132 | €477,047 | €447,805 | -€29,243 | -6.1% |
| Distributable reserves | 133 | €47,860 | €57,160 | +€9,300 | +19.4% |
| Profit (loss) carried forward | 14 | €85 | €87 | +€2 | +2.1% |
| Provisions and deferred taxes | 16 | €245,642 | €230,585 | -€15,058 | -6.1% |
| Deferred taxes | 168 | €245,642 | €230,585 | -€15,058 | -6.1% |
| Amounts payable | 17/49 | €562,308 | €558,503 | -€3,804 | -0.7% |
| Amounts payable within one year | 42/48 | €560,660 | €556,716 | -€3,945 | -0.7% |
| Trade debts | 44 | €1,660 | - | -€1,660 | |
| Suppliers | 440/4 | €1,660 | - | -€1,660 | |
| Taxes, remuneration and social security | 45 | €350 | €1,486 | +€1,136 | +325% |
| Taxes | 450/3 | €350 | €1,486 | +€1,136 | +325% |
| Other amounts payable | 47/48 | €558,650 | €555,230 | -€3,421 | -0.6% |
| Accrued charges and deferred income | 492/3 | €1,648 | €1,788 | +€140 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,860 | €49,209 | -€9,652 | -16.4% |
| Other operating charges | 640/8 | €6,172 | €7,492 | +€1,320 | +21.4% |
| Gross operating margin | 9900 | €12,699 | €25,340 | +€12,641 | +99.5% |
| Operating profit (loss) | 9901 | -€52,334 | -€31,361 | +€20,973 | +40.1% |
| Financial charges | 65/66B | €234 | €259 | +€25 | +10.6% |
| Recurring financial charges | 65 | €234 | €259 | +€25 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | -€52,568 | -€31,620 | +€20,948 | +39.8% |
| Transfer from deferred taxes | 780 | €16,255 | €15,058 | -€1,197 | -7.4% |
| Income taxes | 67/77 | €335 | €1,519 | +€1,184 | +354% |
| Profit (loss) for the period | 9904 | -€36,648 | -€18,081 | +€18,567 | +50.7% |
| Transfer from tax-exempt reserves | 789 | €31,567 | €29,243 | -€2,325 | -7.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,081 | €11,162 | +€16,243 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.