G-Blondeel: 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.
G-Blondeel
Largest movements
- Cash +€27,012
up €27,012 (+2,036%), from €1,327 to €28,339
mainly Deferred charges and accrued income (+€24,259) and Net result for the year (+€21,408)
- Deferred charges and accrued income -€24,259
down €24,259 (-98.2%), from €24,715 to €457
- Tangible fixed assets +€19,657
up €19,657 (+330%), from €5,952 to €25,609
of which Furniture and vehicles: +€20,332
- Receivables within one year -€8,780
down €8,780 (-44.3%), from €19,832 to €11,052
of which Trade receivables: -€7,535
- Trade debts -€29,046
down €29,046 (-90.6%), from €32,056 to €3,010
- Other debts +€20,000
new in 2025: €20,000
- Debts after one year +€13,031
up €13,031, from €0 to €13,031
- Tax, wage and social debts +€6,501
up €6,501 (+97.3%), from €6,683 to €13,183
of which Taxes: +€5,438
- Current portion of long-term debt +€1,737
up €1,737 (+98.7%), from €1,759 to €3,496
- Gross operating margin +€18,204
up €18,204 (+61.3%), from €29,706 to €47,909
- Staff costs -€15,949
down €15,949 (-68.4%), from €23,335 to €7,385
- Depreciation +€6,603
up €6,603 (+171%), from €3,863 to €10,467
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 | €52,006 | €65,637 | +€13,631 | +26.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €6,132 | €25,789 | +€19,657 | +321% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €5,952 | €25,609 | +€19,657 | +330% |
| Plant, machinery and equipment | 23 | €1,328 | €653 | -€675 | -50.9% |
| Furniture and vehicles | 24 | €4,624 | €24,956 | +€20,332 | +440% |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €45,874 | €39,848 | -€6,026 | -13.1% |
| Amounts receivable within one year | 40/41 | €19,832 | €11,052 | -€8,780 | -44.3% |
| Trade receivables | 40 | €12,148 | €4,613 | -€7,535 | -62.0% |
| Other amounts receivable | 41 | €7,684 | €6,439 | -€1,245 | -16.2% |
| Cash at bank and in hand | 54/58 | €1,327 | €28,339 | +€27,012 | +2,036% |
| Deferred charges and accrued income | 490/1 | €24,715 | €457 | -€24,259 | -98.2% |
| Total equity and liabilities | 10/49 | €52,006 | €65,637 | +€13,631 | +26.2% |
| Equity | 10/15 | €11,509 | €12,916 | +€1,408 | +12.2% |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,009 | €6,416 | +€1,408 | +28.1% |
| Amounts payable | 17/49 | €40,498 | €52,720 | +€12,223 | +30.2% |
| Amounts payable after more than one year | 17 | €0 | €13,031 | +€13,031 | |
| Financial debts | 170/4 | €0 | €13,031 | +€13,031 | |
| Amounts payable within one year | 42/48 | €40,498 | €39,689 | -€808 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €1,759 | €3,496 | +€1,737 | +98.7% |
| Trade debts | 44 | €32,056 | €3,010 | -€29,046 | -90.6% |
| Suppliers | 440/4 | €32,056 | €3,010 | -€29,046 | -90.6% |
| Taxes, remuneration and social security | 45 | €6,683 | €13,183 | +€6,501 | +97.3% |
| Taxes | 450/3 | €3,211 | €8,649 | +€5,438 | +169% |
| Remuneration and social security | 454/9 | €3,472 | €4,534 | +€1,062 | +30.6% |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Remuneration, social security and pensions | 62 | €23,335 | €7,385 | -€15,949 | -68.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,863 | €10,467 | +€6,603 | +171% |
| Other operating charges | 640/8 | €1,123 | €1,587 | +€464 | +41.3% |
| Non-recurring operating charges | 66A | €33 | €0 | -€33 | -100% |
| Gross operating margin | 9900 | €29,706 | €47,909 | +€18,204 | +61.3% |
| Operating profit (loss) | 9901 | €1,351 | €28,470 | +€27,119 | +2,007% |
| Financial income | 75/76B | €482 | €362 | -€120 | -24.9% |
| Recurring financial income | 75 | €482 | €362 | -€120 | -24.9% |
| Financial charges | 65/66B | €677 | €638 | -€39 | -5.7% |
| Recurring financial charges | 65 | €677 | €638 | -€39 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €1,156 | €28,194 | +€27,038 | +2,338% |
| Transfer to deferred taxes | 680 | - | €6,786 | +€6,786 | |
| Income taxes | 67/77 | €430 | - | -€430 | |
| Profit (loss) for the period | 9904 | €726 | €21,408 | +€20,681 | +2,847% |
| Profit (loss) for the period to be appropriated | 9905 | €726 | €21,408 | +€20,681 | +2,847% |
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 28 October 2026 via checked.be.