ML Blue Sky: 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.
ML Blue Sky
Largest movements
- Tangible fixed assets -€10,531
down €10,531 (-61.8%), from €17,039 to €6,508
- Receivables within one year -€8,980
down €8,980 (-62.0%), from €14,495 to €5,515
of which Trade receivables: -€7,363
- Cash +€4,355
up €4,355 (+685%), from €636 to €4,990
mainly Depreciation (+€10,531) and Receivables within one year (+€8,980)
- Short-term financial debts -€8,835
down €8,835 (-66.4%), from €13,314 to €4,479
- Debts after one year -€4,479
no longer reported in 2025 (was €4,479)
- Tax, wage and social debts -€882
down €882 (-53.1%), from €1,661 to €779
- Trade debts -€553
down €553 (-64.3%), from €859 to €307
- Profit (loss) carried forward -€433
down €433 (-2.2%), from -€19,603 to -€20,036
- Gross operating margin +€24,077
up €24,077, from -€6,415 to €17,662
- Write-downs +€5,763
new in 2025: €5,763
- Depreciation -€1,192
down €1,192 (-10.2%), from €11,723 to €10,531
- Other operating charges -€192
down €192 (-14.7%), from €1,308 to €1,116
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 | €32,870 | €17,550 | -€15,321 | -46.6% |
| Fixed assets | 21/28 | €17,039 | €6,508 | -€10,531 | -61.8% |
| Tangible fixed assets | 22/27 | €17,039 | €6,508 | -€10,531 | -61.8% |
| Furniture and vehicles | 24 | €17,039 | €6,508 | -€10,531 | -61.8% |
| Current assets | 29/58 | €15,832 | €11,042 | -€4,790 | -30.3% |
| Amounts receivable within one year | 40/41 | €14,495 | €5,515 | -€8,980 | -62.0% |
| Trade receivables | 40 | €12,873 | €5,510 | -€7,363 | -57.2% |
| Other amounts receivable | 41 | €1,623 | €5 | -€1,618 | -99.7% |
| Cash at bank and in hand | 54/58 | €636 | €4,990 | +€4,355 | +685% |
| Deferred charges and accrued income | 490/1 | €701 | €537 | -€164 | -23.4% |
| Total equity and liabilities | 10/49 | €32,870 | €17,550 | -€15,321 | -46.6% |
| Equity | 10/15 | €802 | €369 | -€433 | -54.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,603 | -€20,036 | -€433 | -2.2% |
| Amounts payable | 17/49 | €32,069 | €17,181 | -€14,888 | -46.4% |
| Amounts payable after more than one year | 17 | €4,479 | - | -€4,479 | |
| Financial debts | 170/4 | €4,479 | - | -€4,479 | |
| Amounts payable within one year | 42/48 | €26,524 | €16,114 | -€10,410 | -39.2% |
| Financial debts | 43 | €13,314 | €4,479 | -€8,835 | -66.4% |
| Credit institutions | 430/8 | €13,314 | €4,479 | -€8,835 | -66.4% |
| Trade debts | 44 | €859 | €307 | -€553 | -64.3% |
| Suppliers | 440/4 | €859 | €307 | -€553 | -64.3% |
| Taxes, remuneration and social security | 45 | €1,661 | €779 | -€882 | -53.1% |
| Taxes | 450/3 | €1,661 | €779 | -€882 | -53.1% |
| Other amounts payable | 47/48 | €10,689 | €10,549 | -€140 | -1.3% |
| Accrued charges and deferred income | 492/3 | €1,066 | €1,067 | +€1 | +0.1% |
| Non-recurring operating income | 76A | - | €333 | +€333 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,723 | €10,531 | -€1,192 | -10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €5,763 | +€5,763 | |
| Other operating charges | 640/8 | €1,308 | €1,116 | -€192 | -14.7% |
| Gross operating margin | 9900 | -€6,415 | €17,662 | +€24,077 | |
| Operating profit (loss) | 9901 | -€19,447 | €252 | +€19,699 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €504 | €422 | -€82 | -16.3% |
| Recurring financial charges | 65 | €504 | €422 | -€82 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,951 | -€170 | +€19,781 | +99.1% |
| Income taxes | 67/77 | €274 | €263 | -€11 | -3.9% |
| Profit (loss) for the period | 9904 | -€20,225 | -€433 | +€19,792 | +97.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,225 | -€433 | +€19,792 | +97.9% |
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 22 October 2026 via checked.be.