I. Blauwens: 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.
I. Blauwens
Largest movements
- Cash -€49,063
down €49,063 (-44.9%), from €109,357 to €60,294
mainly Other debts (-€95,535) and Tax, wage and social debts (-€19,197)
- Tangible fixed assets -€4,887
down €4,887 (-26.8%), from €18,269 to €13,382
of which Furniture and vehicles: -€4,587
- Receivables within one year -€3,070
down €3,070 (-15.5%), from €19,863 to €16,793
of which Trade receivables: -€12,505
- Deferred charges and accrued income -€2,074
down €2,074 (-68.2%), from €3,041 to €968
- Other debts -€95,535
down €95,535 (-91.6%), from €104,335 to €8,800
- Reserves +€61,108
up €61,108 (+336%), from €18,182 to €79,290
- Tax, wage and social debts -€19,197
down €19,197 (-100%), from €19,197 to €0
- Trade debts -€4,389
down €4,389 (-92.7%), from €4,736 to €346
- Gross operating margin -€20,051
down €20,051 (-18.8%), from €106,429 to €86,378
- Taxes -€4,887
down €4,887 (-21.8%), from €22,432 to €17,545
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 | €150,530 | €91,436 | -€59,094 | -39.3% |
| Fixed assets | 21/28 | €18,269 | €13,382 | -€4,887 | -26.8% |
| Tangible fixed assets | 22/27 | €18,269 | €13,382 | -€4,887 | -26.8% |
| Land and buildings | 22 | €2,395 | €2,095 | -€300 | -12.5% |
| Furniture and vehicles | 24 | €15,874 | €11,287 | -€4,587 | -28.9% |
| Current assets | 29/58 | €132,261 | €78,055 | -€54,207 | -41.0% |
| Amounts receivable within one year | 40/41 | €19,863 | €16,793 | -€3,070 | -15.5% |
| Trade receivables | 40 | €19,795 | €7,290 | -€12,505 | -63.2% |
| Other amounts receivable | 41 | €68 | €9,503 | +€9,435 | +13,865% |
| Cash at bank and in hand | 54/58 | €109,357 | €60,294 | -€49,063 | -44.9% |
| Deferred charges and accrued income | 490/1 | €3,041 | €968 | -€2,074 | -68.2% |
| Total equity and liabilities | 10/49 | €150,530 | €91,436 | -€59,094 | -39.3% |
| Equity | 10/15 | €21,182 | €82,290 | +€61,108 | +288% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €18,182 | €79,290 | +€61,108 | +336% |
| Distributable reserves | 133 | €18,182 | €79,290 | +€61,108 | +336% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €129,348 | €9,147 | -€120,202 | -92.9% |
| Amounts payable within one year | 42/48 | €128,268 | €9,147 | -€119,121 | -92.9% |
| Trade debts | 44 | €4,736 | €346 | -€4,389 | -92.7% |
| Suppliers | 440/4 | €4,736 | €346 | -€4,389 | -92.7% |
| Taxes, remuneration and social security | 45 | €19,197 | €0 | -€19,197 | -100% |
| Taxes | 450/3 | €19,197 | €0 | -€19,197 | -100% |
| Other amounts payable | 47/48 | €104,335 | €8,800 | -€95,535 | -91.6% |
| Accrued charges and deferred income | 492/3 | €1,080 | €0 | -€1,080 | -100% |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,656 | €5,774 | +€117 | +2.1% |
| Other operating charges | 640/8 | €801 | €1,568 | +€767 | +95.8% |
| Gross operating margin | 9900 | €106,429 | €86,378 | -€20,051 | -18.8% |
| Operating profit (loss) | 9901 | €99,972 | €78,787 | -€21,185 | -21.2% |
| Financial income | 75/76B | €1 | €0 | -€0 | -25.0% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -25.0% |
| Non-recurring financial income | 76B | €1 | €0 | -€0 | -25.0% |
| Financial charges | 65/66B | €131 | €134 | +€3 | +2.6% |
| Recurring financial charges | 65 | €103 | €122 | +€19 | +18.8% |
| Non-recurring financial charges | 66B | €28 | €12 | -€16 | -56.8% |
| Profit (loss) for the period before taxes | 9903 | €99,842 | €78,653 | -€21,189 | -21.2% |
| Income taxes | 67/77 | €22,432 | €17,545 | -€4,887 | -21.8% |
| Profit (loss) for the period | 9904 | €77,410 | €61,108 | -€16,302 | -21.1% |
| Profit (loss) for the period to be appropriated | 9905 | €77,410 | €61,108 | -€16,302 | -21.1% |
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 20 October 2026 via checked.be.