BLACK ANGUS: 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.
BLACK ANGUS
Largest movements
- Cash -€41,870
down €41,870 (-15.7%), from €267,435 to €225,565
mainly Contributions, distributions and other (-€55,000) and Investment in fixed assets (net) (-€45,778)
- Tangible fixed assets +€32,025
up €32,025 (+68.7%), from €46,627 to €78,652
of which Furniture and vehicles: +€35,936
- Other debts -€39,000
down €39,000 (-17.5%), from €223,373 to €184,373
- Trade debts +€29,862
up €29,862 (+171%), from €17,439 to €47,301
- Profit (loss) carried forward +€13,339
up €13,339 (+56.7%), from €23,537 to €36,876
- Current portion of long-term debt -€10,317
no longer reported in 2025 (was €10,317)
- Tax, wage and social debts -€5,850
down €5,850 (-9.6%), from €61,152 to €55,302
of which Taxes: -€4,461
- Staff costs +€3,822
up €3,822 (+4.3%), from €89,815 to €93,637
- Gross operating margin +€2,760
up €2,760 (+1.3%), from €208,497 to €211,257
- Taxes -€2,405
down €2,405 (-9.7%), from €24,841 to €22,436
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 | €360,829 | €348,852 | -€11,977 | -3.3% |
| Fixed assets | 21/28 | €71,349 | €100,596 | +€29,248 | +41.0% |
| Intangible fixed assets | 21 | €9,722 | €6,944 | -€2,778 | -28.6% |
| Tangible fixed assets | 22/27 | €46,627 | €78,652 | +€32,025 | +68.7% |
| Plant, machinery and equipment | 23 | €9,333 | €8,270 | -€1,063 | -11.4% |
| Furniture and vehicles | 24 | €9,867 | €45,803 | +€35,936 | +364% |
| Other tangible fixed assets | 26 | €27,427 | €24,579 | -€2,848 | -10.4% |
| Financial fixed assets | 28 | €15,000 | €15,000 | = | 0.0% |
| Current assets | 29/58 | €289,480 | €248,255 | -€41,225 | -14.2% |
| Stocks and contracts in progress | 3 | €19,251 | €19,809 | +€558 | +2.9% |
| Stocks | 30/36 | €19,251 | €19,809 | +€558 | +2.9% |
| Amounts receivable within one year | 40/41 | €1,188 | €1,202 | +€15 | +1.2% |
| Trade receivables | 40 | €90 | - | -€90 | |
| Other amounts receivable | 41 | €1,098 | €1,202 | +€105 | +9.5% |
| Cash at bank and in hand | 54/58 | €267,435 | €225,565 | -€41,870 | -15.7% |
| Deferred charges and accrued income | 490/1 | €1,607 | €1,679 | +€72 | +4.5% |
| Total equity and liabilities | 10/49 | €360,829 | €348,852 | -€11,977 | -3.3% |
| Equity | 10/15 | €48,537 | €61,876 | +€13,339 | +27.5% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,537 | €36,876 | +€13,339 | +56.7% |
| Amounts payable | 17/49 | €312,293 | €286,976 | -€25,317 | -8.1% |
| Amounts payable within one year | 42/48 | €312,280 | €286,976 | -€25,304 | -8.1% |
| Current portion of amounts payable after more than one year | 42 | €10,317 | - | -€10,317 | |
| Trade debts | 44 | €17,439 | €47,301 | +€29,862 | +171% |
| Suppliers | 440/4 | €17,439 | €47,301 | +€29,862 | +171% |
| Taxes, remuneration and social security | 45 | €61,152 | €55,302 | -€5,850 | -9.6% |
| Taxes | 450/3 | €51,055 | €46,594 | -€4,461 | -8.7% |
| Remuneration and social security | 454/9 | €10,097 | €8,707 | -€1,389 | -13.8% |
| Other amounts payable | 47/48 | €223,373 | €184,373 | -€39,000 | -17.5% |
| Accrued charges and deferred income | 492/3 | €13 | - | -€13 | |
| Remuneration, social security and pensions | 62 | €89,815 | €93,637 | +€3,822 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,956 | €16,530 | -€426 | -2.5% |
| Other operating charges | 640/8 | €3,623 | €5,486 | +€1,863 | +51.4% |
| Gross operating margin | 9900 | €208,497 | €211,257 | +€2,760 | +1.3% |
| Operating profit (loss) | 9901 | €98,103 | €95,604 | -€2,499 | -2.5% |
| Financial income | 75/76B | €3 | €100 | +€97 | +3,182% |
| Recurring financial income | 75 | €3 | €100 | +€97 | +3,182% |
| Financial charges | 65/66B | €5,698 | €4,929 | -€769 | -13.5% |
| Recurring financial charges | 65 | €5,698 | €4,929 | -€769 | -13.5% |
| Profit (loss) for the period before taxes | 9903 | €92,408 | €90,775 | -€1,633 | -1.8% |
| Income taxes | 67/77 | €24,841 | €22,436 | -€2,405 | -9.7% |
| Profit (loss) for the period | 9904 | €67,567 | €68,339 | +€772 | +1.1% |
| Profit (loss) for the period to be appropriated | 9905 | €67,567 | €68,339 | +€772 | +1.1% |
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 14 October 2026 via checked.be.