L'OURS BLEU: 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.
L'OURS BLEU
Largest movements
- Cash -€76,291
down €76,291 (-21.4%), from €355,901 to €279,611
mainly Contributions, distributions and other (-€260,000) and Tax, wage and social debts (-€39,832)
- Receivables within one year -€62,468
down €62,468 (-28.9%), from €216,427 to €153,959
of which Trade receivables: -€99,774
- Current investments -€32,029
down €32,029 (-15.9%), from €201,853 to €169,825
- Intangible fixed assets -€18,904
down €18,904 (-5.9%), from €320,492 to €301,587
- Profit (loss) carried forward -€246,461
down €246,461 (-94.6%), from €260,576 to €14,115
- Reserves +€95,000
up €95,000 (+30.6%), from €310,000 to €405,000
- Tax, wage and social debts -€39,832
down €39,832 (-46.3%), from €86,068 to €46,236
of which Taxes: -€33,033
- Debts after one year -€18,800
down €18,800 (-6.3%), from €300,800 to €282,000
- Gross operating margin -€224,517
down €224,517 (-48.1%), from €467,047 to €242,529
- Staff costs -€84,004
down €84,004 (-74.9%), from €112,168 to €28,165
- Financial income -€37,722
down €37,722 (-83.4%), from €45,236 to €7,513
- Taxes -€35,924
down €35,924 (-40.3%), from €89,099 to €53,175
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 | €1,212,246 | €1,010,605 | -€201,641 | -16.6% |
| Fixed assets | 21/28 | €431,945 | €402,111 | -€29,834 | -6.9% |
| Intangible fixed assets | 21 | €320,492 | €301,587 | -€18,904 | -5.9% |
| Tangible fixed assets | 22/27 | €105,253 | €94,324 | -€10,929 | -10.4% |
| Plant, machinery and equipment | 23 | €7,717 | €3,909 | -€3,808 | -49.3% |
| Furniture and vehicles | 24 | €56,638 | €39,151 | -€17,487 | -30.9% |
| Other tangible fixed assets | 26 | €40,898 | €51,264 | +€10,366 | +25.3% |
| Financial fixed assets | 28 | €6,200 | €6,200 | = | 0.0% |
| Current assets | 29/58 | €780,301 | €608,494 | -€171,808 | -22.0% |
| Amounts receivable within one year | 40/41 | €216,427 | €153,959 | -€62,468 | -28.9% |
| Trade receivables | 40 | €162,638 | €62,864 | -€99,774 | -61.3% |
| Other amounts receivable | 41 | €53,788 | €91,095 | +€37,306 | +69.4% |
| Current investments | 50/53 | €201,853 | €169,825 | -€32,029 | -15.9% |
| Cash at bank and in hand | 54/58 | €355,901 | €279,611 | -€76,291 | -21.4% |
| Deferred charges and accrued income | 490/1 | €6,120 | €5,100 | -€1,020 | -16.7% |
| Total equity and liabilities | 10/49 | €1,212,246 | €1,010,605 | -€201,641 | -16.6% |
| Equity | 10/15 | €575,576 | €424,115 | -€151,461 | -26.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €310,000 | €405,000 | +€95,000 | +30.6% |
| Distributable reserves | 133 | €310,000 | €405,000 | +€95,000 | +30.6% |
| Profit (loss) carried forward | 14 | €260,576 | €14,115 | -€246,461 | -94.6% |
| Amounts payable | 17/49 | €636,670 | €586,490 | -€50,180 | -7.9% |
| Amounts payable after more than one year | 17 | €300,800 | €282,000 | -€18,800 | -6.3% |
| Financial debts | 170/4 | €300,800 | €282,000 | -€18,800 | -6.3% |
| Amounts payable within one year | 42/48 | €333,484 | €303,348 | -€30,136 | -9.0% |
| Current portion of amounts payable after more than one year | 42 | €18,800 | €18,800 | = | 0.0% |
| Trade debts | 44 | €13,652 | €17,311 | +€3,659 | +26.8% |
| Suppliers | 440/4 | €13,652 | €17,311 | +€3,659 | +26.8% |
| Taxes, remuneration and social security | 45 | €86,068 | €46,236 | -€39,832 | -46.3% |
| Taxes | 450/3 | €74,018 | €40,985 | -€33,033 | -44.6% |
| Remuneration and social security | 454/9 | €12,050 | €5,251 | -€6,799 | -56.4% |
| Other amounts payable | 47/48 | €214,963 | €221,000 | +€6,037 | +2.8% |
| Accrued charges and deferred income | 492/3 | €2,387 | €1,143 | -€1,244 | -52.1% |
| Non-recurring operating income | 76A | - | €13,117 | +€13,117 | |
| Remuneration, social security and pensions | 62 | €112,168 | €28,165 | -€84,004 | -74.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,005 | €41,250 | +€245 | +0.6% |
| Other operating charges | 640/8 | €7,603 | €9,051 | +€1,448 | +19.0% |
| Non-recurring operating charges | 66A | - | €3,619 | +€3,619 | |
| Gross operating margin | 9900 | €467,047 | €242,529 | -€224,517 | -48.1% |
| Operating profit (loss) | 9901 | €306,271 | €160,445 | -€145,825 | -47.6% |
| Financial income | 75/76B | €45,236 | €7,513 | -€37,722 | -83.4% |
| Recurring financial income | 75 | €45,236 | €7,513 | -€37,722 | -83.4% |
| Financial charges | 65/66B | €7,585 | €6,244 | -€1,341 | -17.7% |
| Recurring financial charges | 65 | €7,585 | €6,244 | -€1,341 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €343,921 | €161,714 | -€182,207 | -53.0% |
| Income taxes | 67/77 | €89,099 | €53,175 | -€35,924 | -40.3% |
| Profit (loss) for the period | 9904 | €254,822 | €108,539 | -€146,283 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €254,822 | €108,539 | -€146,283 | -57.4% |
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 19 October 2026 via checked.be.