BLUE COM: what changed
BLUE COM
Largest movements
- Cash +€420,391
up €420,391 (+230%), from €182,828 to €603,218
mainly Net result for the year (+€217,034) and Trade debts (+€92,057)
- Financial fixed assets -€96,518
down €96,518 (-37.3%), from €258,492 to €161,974
- Receivables within one year -€72,544
down €72,544 (-9.1%), from €794,139 to €721,595
of which Trade receivables: -€202,422
- Deferred charges and accrued income +€32,587
up €32,587 (+322%), from €10,130 to €42,717
- Stocks and contracts +€27,782
up €27,782 (+72.6%), from €38,265 to €66,048
- Reserves +€217,034
up €217,034 (+29.3%), from €741,144 to €958,178
of which Distributable reserves: +€217,034
- Trade debts +€92,057
up €92,057 (+19.1%), from €481,832 to €573,889
- Tax, wage and social debts -€29,322
down €29,322 (-100.0%), from €29,324 to €2
of which Taxes: -€29,219
- Debts after one year +€25,558
new in 2025: €25,558
- Current portion of long-term debt +€20,174
up €20,174 (+15.6%), from €129,044 to €149,217
- Gross operating margin +€25,439
up €25,439 (+7.5%), from €337,666 to €363,105
- Financial charges +€7,631
up €7,631 (+148%), from €5,168 to €12,799
- Depreciation +€5,257
up €5,257 (+21.4%), from €24,606 to €29,863
- Taxes +€5,126
up €5,126 (+5.5%), from €92,925 to €98,051
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,387,918 | €1,714,049 | +€326,131 | +23.5% |
| Fixed assets | 21/28 | €362,556 | €280,470 | -€82,086 | -22.6% |
| Intangible fixed assets | 21 | €732 | €366 | -€366 | -50.0% |
| Tangible fixed assets | 22/27 | €103,332 | €118,131 | +€14,799 | +14.3% |
| Land and buildings | 22 | €47,762 | €43,254 | -€4,508 | -9.4% |
| Plant, machinery and equipment | 23 | €2,249 | €1,658 | -€591 | -26.3% |
| Furniture and vehicles | 24 | €53,321 | €73,219 | +€19,898 | +37.3% |
| Financial fixed assets | 28 | €258,492 | €161,974 | -€96,518 | -37.3% |
| Current assets | 29/58 | €1,025,362 | €1,433,578 | +€408,216 | +39.8% |
| Stocks and contracts in progress | 3 | €38,265 | €66,048 | +€27,782 | +72.6% |
| Stocks | 30/36 | €38,265 | €66,048 | +€27,782 | +72.6% |
| Amounts receivable within one year | 40/41 | €794,139 | €721,595 | -€72,544 | -9.1% |
| Trade receivables | 40 | €319,829 | €117,407 | -€202,422 | -63.3% |
| Other amounts receivable | 41 | €474,310 | €604,188 | +€129,878 | +27.4% |
| Cash at bank and in hand | 54/58 | €182,828 | €603,218 | +€420,391 | +230% |
| Deferred charges and accrued income | 490/1 | €10,130 | €42,717 | +€32,587 | +322% |
| Total equity and liabilities | 10/49 | €1,387,918 | €1,714,049 | +€326,131 | +23.5% |
| Equity | 10/15 | €747,344 | €964,378 | +€217,034 | +29.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €741,144 | €958,178 | +€217,034 | +29.3% |
| Tax-exempt reserves | 132 | €6,569 | €6,569 | = | 0.0% |
| Distributable reserves | 133 | €734,574 | €951,609 | +€217,034 | +29.5% |
| Amounts payable | 17/49 | €640,574 | €749,671 | +€109,096 | +17.0% |
| Amounts payable after more than one year | 17 | - | €25,558 | +€25,558 | |
| Financial debts | 170/4 | - | €25,558 | +€25,558 | |
| Amounts payable within one year | 42/48 | €640,200 | €723,458 | +€83,258 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €129,044 | €149,217 | +€20,174 | +15.6% |
| Trade debts | 44 | €481,832 | €573,889 | +€92,057 | +19.1% |
| Suppliers | 440/4 | €481,832 | €573,889 | +€92,057 | +19.1% |
| Advances received on contracts in progress | 46 | - | €350 | +€350 | |
| Taxes, remuneration and social security | 45 | €29,324 | €2 | -€29,322 | -100.0% |
| Taxes | 450/3 | €29,221 | €2 | -€29,219 | -100.0% |
| Remuneration and social security | 454/9 | €103 | - | -€103 | |
| Accrued charges and deferred income | 492/3 | €374 | €654 | +€280 | +74.9% |
| Remuneration, social security and pensions | 62 | €3,464 | €1,923 | -€1,540 | -44.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,606 | €29,863 | +€5,257 | +21.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,052 | - | -€1,052 | |
| Other operating charges | 640/8 | €6,642 | €4,054 | -€2,588 | -39.0% |
| Gross operating margin | 9900 | €337,666 | €363,105 | +€25,439 | +7.5% |
| Operating profit (loss) | 9901 | €301,902 | €327,264 | +€25,363 | +8.4% |
| Financial income | 75/76B | €284 | €620 | +€336 | +118% |
| Recurring financial income | 75 | €284 | €620 | +€336 | +118% |
| Financial charges | 65/66B | €5,168 | €12,799 | +€7,631 | +148% |
| Recurring financial charges | 65 | €5,168 | €12,799 | +€7,631 | +148% |
| Profit (loss) for the period before taxes | 9903 | €297,018 | €315,085 | +€18,067 | +6.1% |
| Income taxes | 67/77 | €92,925 | €98,051 | +€5,126 | +5.5% |
| Profit (loss) for the period | 9904 | €204,093 | €217,034 | +€12,941 | +6.3% |
| Profit (loss) for the period to be appropriated | 9905 | €204,093 | €217,034 | +€12,941 | +6.3% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.