OR BLEU: what changed
Two fiscal 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.
OR BLEU
Largest movements
- Cash +€28,883
up €28,883 (+61.4%), from €47,016 to €75,898
mainly Net result for the year (+€41,939) and Advances received (+€36,000)
- Receivables within one year -€7,231
down €7,231 (-60.6%), from €11,931 to €4,701
of which Trade receivables: -€7,288
- Tangible fixed assets -€2,130
down €2,130 (-8.4%), from €25,443 to €23,313
of which Other tangible fixed assets: -€2,947
- Trade debts -€47,320
down €47,320 (-90.1%), from €52,513 to €5,193
- Profit (loss) carried forward +€41,939
up €41,939 (+60.3%), from -€69,585 to -€27,647
- Advances received +€36,000
up €36,000 (+167.4%), from €21,500 to €57,500
- Tax, wage and social debts -€4,545
down €4,545 (-28.8%), from €15,769 to €11,225
of which Taxes: -€3,357
- Debts after one year -€4,146
down €4,146 (-49.1%), from €8,451 to €4,305
- Gross operating margin +€76,524
up €76,524 (+470.1%), from €16,278 to €92,802
- Staff costs -€24,804
down €24,804 (-36.2%), from €68,561 to €43,757
- Other operating charges -€1,824
down €1,824 (-76.1%), from €2,396 to €572
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.
Cash bridge derived
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 | €87,636 | €106,528 | +€18,892 | +21.6% |
| Fixed assets | 21/28 | €27,060 | €24,429 | -€2,630 | -9.7% |
| Intangible fixed assets | 21 | €1,616 | €1,116 | -€500 | -30.9% |
| Tangible fixed assets | 22/27 | €25,443 | €23,313 | -€2,130 | -8.4% |
| Land and buildings | 22 | €1,066 | €944 | -€122 | -11.4% |
| Plant, machinery and equipment | 23 | €2,632 | €1,723 | -€909 | -34.5% |
| Furniture and vehicles | 24 | €885 | €2,732 | +€1,847 | +208.8% |
| Other tangible fixed assets | 26 | €20,861 | €17,913 | -€2,947 | -14.1% |
| Current assets | 29/58 | €60,576 | €82,099 | +€21,522 | +35.5% |
| Amounts receivable within one year | 40/41 | €11,931 | €4,701 | -€7,231 | -60.6% |
| Trade receivables | 40 | €11,919 | €4,631 | -€7,288 | -61.1% |
| Other amounts receivable | 41 | €12 | €70 | +€57 | +468.2% |
| Cash at bank and in hand | 54/58 | €47,016 | €75,898 | +€28,883 | +61.4% |
| Deferred charges and accrued income | 490/1 | €1,629 | €1,500 | -€129 | -7.9% |
| Total equity and liabilities | 10/49 | €87,636 | €106,528 | +€18,892 | +21.6% |
| Equity | 10/15 | -€24,085 | €17,853 | +€41,939 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €25,500 | €25,500 | = | 0.0% |
| Distributable reserves | 133 | €25,500 | €25,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€69,585 | -€27,647 | +€41,939 | +60.3% |
| Amounts payable | 17/49 | €111,721 | €88,675 | -€23,047 | -20.6% |
| Amounts payable after more than one year | 17 | €8,451 | €4,305 | -€4,146 | -49.1% |
| Financial debts | 170/4 | €8,451 | €4,305 | -€4,146 | -49.1% |
| Amounts payable within one year | 42/48 | €103,270 | €84,370 | -€18,900 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €3,994 | €4,146 | +€152 | +3.8% |
| Trade debts | 44 | €52,513 | €5,193 | -€47,320 | -90.1% |
| Suppliers | 440/4 | €52,513 | €5,193 | -€47,320 | -90.1% |
| Advances received on contracts in progress | 46 | €21,500 | €57,500 | +€36,000 | +167.4% |
| Taxes, remuneration and social security | 45 | €15,769 | €11,225 | -€4,545 | -28.8% |
| Taxes | 450/3 | €9,244 | €5,887 | -€3,357 | -36.3% |
| Remuneration and social security | 454/9 | €6,525 | €5,337 | -€1,188 | -18.2% |
| Other amounts payable | 47/48 | €9,494 | €6,306 | -€3,188 | -33.6% |
| Remuneration, social security and pensions | 62 | €68,561 | €43,757 | -€24,804 | -36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,105 | €5,168 | +€63 | +1.2% |
| Other operating charges | 640/8 | €2,396 | €572 | -€1,824 | -76.1% |
| Gross operating margin | 9900 | €16,278 | €92,802 | +€76,524 | +470.1% |
| Operating profit (loss) | 9901 | -€59,785 | €43,305 | +€103,089 | |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €1,755 | €1,271 | -€485 | -27.6% |
| Recurring financial charges | 65 | €1,755 | €1,271 | -€485 | -27.6% |
| Profit (loss) for the period before taxes | 9903 | -€61,540 | €42,034 | +€103,574 | |
| Income taxes | 67/77 | €174 | €95 | -€79 | -45.3% |
| Profit (loss) for the period | 9904 | -€61,714 | €41,939 | +€103,653 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,714 | €41,939 | +€103,653 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.