ITALIAN BLU: 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.
ITALIAN BLU
Largest movements
- Cash -€21,573
down €21,573 (-30.4%), from €70,873 to €49,300
mainly Receivables within one year (-€8,778) and Debts after one year (-€8,455)
- Tangible fixed assets -€12,678
down €12,678 (-10.6%), from €119,110 to €106,432
of which Furniture and vehicles: -€8,023
- Receivables within one year +€8,778
up €8,778 (+354%), from €2,477 to €11,255
of which Trade receivables: +€9,005
- Debts after one year -€8,455
down €8,455 (-19.5%), from €43,436 to €34,981
- Profit (loss) carried forward -€6,379
down €6,379 (-6.6%), from €96,533 to €90,154
- Other debts -€4,059
down €4,059 (-32.5%), from €12,506 to €8,447
- Trade debts -€3,949
down €3,949 (-38.1%), from €10,354 to €6,405
- Turnover +€114,373
new in 2025: €114,373
- Purchases and services +€85,558
new in 2025: €85,558
- Staff costs +€8,025
up €8,025 (+32.0%), from €25,114 to €33,139
- Gross operating margin -€4,689
down €4,689 (-9.4%), from €49,692 to €45,003
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 | €210,097 | €186,129 | -€23,968 | -11.4% |
| Fixed assets | 21/28 | €119,300 | €106,622 | -€12,678 | -10.6% |
| Tangible fixed assets | 22/27 | €119,110 | €106,432 | -€12,678 | -10.6% |
| Land and buildings | 22 | €66,864 | €64,370 | -€2,494 | -3.7% |
| Plant, machinery and equipment | 23 | €16,937 | €14,776 | -€2,161 | -12.8% |
| Furniture and vehicles | 24 | €35,309 | €27,286 | -€8,023 | -22.7% |
| Financial fixed assets | 28 | €190 | €190 | = | 0.0% |
| Current assets | 29/58 | €90,797 | €79,507 | -€11,290 | -12.4% |
| Stocks and contracts in progress | 3 | €1,800 | €2,766 | +€966 | +53.7% |
| Stocks | 30/36 | €1,800 | €2,766 | +€966 | +53.7% |
| Amounts receivable within one year | 40/41 | €2,477 | €11,255 | +€8,778 | +354% |
| Trade receivables | 40 | €1,349 | €10,354 | +€9,005 | +668% |
| Other amounts receivable | 41 | €1,128 | €901 | -€227 | -20.1% |
| Current investments | 50/53 | €15,085 | €15,085 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €70,873 | €49,300 | -€21,573 | -30.4% |
| Deferred charges and accrued income | 490/1 | €562 | €1,101 | +€539 | +95.9% |
| Total equity and liabilities | 10/49 | €210,097 | €186,129 | -€23,968 | -11.4% |
| Equity | 10/15 | €129,593 | €123,214 | -€6,379 | -4.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €26,860 | €26,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €25,000 | - | -€25,000 | |
| Distributable reserves | 133 | - | €25,000 | +€25,000 | |
| Profit (loss) carried forward | 14 | €96,533 | €90,154 | -€6,379 | -6.6% |
| Amounts payable | 17/49 | €80,504 | €62,915 | -€17,589 | -21.8% |
| Amounts payable after more than one year | 17 | €43,436 | €34,981 | -€8,455 | -19.5% |
| Financial debts | 170/4 | €43,436 | €34,981 | -€8,455 | -19.5% |
| Amounts payable within one year | 42/48 | €37,060 | €27,934 | -€9,126 | -24.6% |
| Current portion of amounts payable after more than one year | 42 | €9,060 | €9,224 | +€164 | +1.8% |
| Trade debts | 44 | €10,354 | €6,405 | -€3,949 | -38.1% |
| Suppliers | 440/4 | €10,354 | €6,405 | -€3,949 | -38.1% |
| Taxes, remuneration and social security | 45 | €5,140 | €3,858 | -€1,282 | -24.9% |
| Taxes | 450/3 | €1,500 | €64 | -€1,436 | -95.7% |
| Remuneration and social security | 454/9 | €3,640 | €3,794 | +€154 | +4.2% |
| Other amounts payable | 47/48 | €12,506 | €8,447 | -€4,059 | -32.5% |
| Accrued charges and deferred income | 492/3 | €8 | - | -€8 | |
| Turnover | 70 | - | €114,373 | +€114,373 | |
| Non-recurring operating income | 76A | - | €1,036 | +€1,036 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €85,558 | +€85,558 | |
| Remuneration, social security and pensions | 62 | €25,114 | €33,139 | +€8,025 | +32.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,639 | €14,530 | +€891 | +6.5% |
| Other operating charges | 640/8 | €2,197 | €2,313 | +€116 | +5.3% |
| Gross operating margin | 9900 | €49,692 | €45,003 | -€4,689 | -9.4% |
| Operating profit (loss) | 9901 | €8,742 | -€4,979 | -€13,721 | |
| Financial income | 75/76B | €148 | - | -€148 | |
| Recurring financial income | 75 | €148 | - | -€148 | |
| Financial charges | 65/66B | €2,253 | €1,640 | -€613 | -27.2% |
| Recurring financial charges | 65 | €2,253 | €1,640 | -€613 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €6,637 | -€6,619 | -€13,256 | |
| Income taxes | 67/77 | €59 | -€239 | -€298 | |
| Profit (loss) for the period | 9904 | €6,578 | -€6,380 | -€12,958 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,578 | -€6,380 | -€12,958 |
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 27 October 2026 via checked.be.