Beau Noir: 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.
Beau Noir
Largest movements
- Current investments -€42,499
down €42,499 (-68.6%), from €61,958 to €19,459
- Cash -€19,792
down €19,792 (-13.3%), from €148,836 to €129,044
mainly Contributions, distributions and other (-€418,330) and Receivables within one year (-€11,612)
- Tangible fixed assets -€17,740
down €17,740 (-26.9%), from €65,897 to €48,157
- Receivables within one year +€11,612
up €11,612 (+45.4%), from €25,598 to €37,210
of which Trade receivables: +€11,612
- Reserves -€255,211
no longer reported in 2025 (was €255,211)
- Other debts +€168,334
up €168,334 (+6,401%), from €2,630 to €170,964
- Tax, wage and social debts +€29,057
up €29,057 (+191%), from €15,249 to €44,306
of which Taxes: +€25,057
- Accrued charges and deferred income -€6,716
no longer reported in 2025 (was €6,716)
- Trade debts -€3,883
no longer reported in 2025 (was €3,883)
- Gross operating margin +€44,156
up €44,156 (+26.4%), from €167,003 to €211,159
- Financial income +€20,213
up €20,213 (+2,681%), from €754 to €20,967
- Taxes +€16,938
up €16,938 (+50.2%), from €33,756 to €50,694
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 | €302,289 | €233,870 | -€68,419 | -22.6% |
| Fixed assets | 21/28 | €65,897 | €48,157 | -€17,740 | -26.9% |
| Tangible fixed assets | 22/27 | €65,897 | €48,157 | -€17,740 | -26.9% |
| Furniture and vehicles | 24 | €65,897 | €48,157 | -€17,740 | -26.9% |
| Current assets | 29/58 | €236,392 | €185,713 | -€50,679 | -21.4% |
| Amounts receivable within one year | 40/41 | €25,598 | €37,210 | +€11,612 | +45.4% |
| Trade receivables | 40 | €19,164 | €30,776 | +€11,612 | +60.6% |
| Other amounts receivable | 41 | €6,434 | €6,434 | = | 0.0% |
| Current investments | 50/53 | €61,958 | €19,459 | -€42,499 | -68.6% |
| Cash at bank and in hand | 54/58 | €148,836 | €129,044 | -€19,792 | -13.3% |
| Total equity and liabilities | 10/49 | €302,289 | €233,870 | -€68,419 | -22.6% |
| Equity | 10/15 | €273,811 | €18,600 | -€255,211 | -93.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €255,211 | - | -€255,211 | |
| Distributable reserves | 133 | €255,211 | - | -€255,211 | |
| Amounts payable | 17/49 | €28,478 | €215,270 | +€186,792 | +656% |
| Amounts payable within one year | 42/48 | €21,762 | €215,270 | +€193,508 | +889% |
| Trade debts | 44 | €3,883 | - | -€3,883 | |
| Suppliers | 440/4 | €3,883 | - | -€3,883 | |
| Taxes, remuneration and social security | 45 | €15,249 | €44,306 | +€29,057 | +191% |
| Taxes | 450/3 | €15,249 | €40,306 | +€25,057 | +164% |
| Remuneration and social security | 454/9 | - | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €2,630 | €170,964 | +€168,334 | +6,401% |
| Accrued charges and deferred income | 492/3 | €6,716 | - | -€6,716 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,764 | €17,740 | -€1,024 | -5.5% |
| Other operating charges | 640/8 | €577 | €320 | -€257 | -44.5% |
| Gross operating margin | 9900 | €167,003 | €211,159 | +€44,156 | +26.4% |
| Operating profit (loss) | 9901 | €147,662 | €193,099 | +€45,437 | +30.8% |
| Financial income | 75/76B | €754 | €20,967 | +€20,213 | +2,681% |
| Recurring financial income | 75 | €754 | €20,967 | +€20,213 | +2,681% |
| Financial charges | 65/66B | €223 | €253 | +€30 | +13.5% |
| Recurring financial charges | 65 | €223 | €253 | +€30 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €148,193 | €213,813 | +€65,620 | +44.3% |
| Income taxes | 67/77 | €33,756 | €50,694 | +€16,938 | +50.2% |
| Profit (loss) for the period | 9904 | €114,437 | €163,119 | +€48,682 | +42.5% |
| Profit (loss) for the period to be appropriated | 9905 | €114,437 | €163,119 | +€48,682 | +42.5% |
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 16 October 2026 via checked.be.