BLACK BUSTER: 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 BUSTER
Largest movements
- Cash -€17,029
down €17,029 (-40.3%), from €42,231 to €25,202
mainly Investment in fixed assets (net) (-€23,231) and Debts after one year (-€18,719)
- Tangible fixed assets +€5,878
up €5,878 (+2.8%), from €211,549 to €217,427
of which Land and buildings: +€9,392
- Receivables within one year +€5,194
up €5,194 (+18.3%), from €28,379 to €33,573
of which Trade receivables: +€3,725
- Debts after one year -€18,719
down €18,719 (-13.3%), from €140,479 to €121,760
- Reserves +€11,970
up €11,970 (+19.6%), from €61,115 to €73,085
of which Distributable reserves: +€11,970
- Gross operating margin +€25,164
up €25,164 (+81.3%), from €30,953 to €56,117
- Other operating charges +€13,815
up €13,815 (+375%), from €3,687 to €17,502
- Depreciation +€3,250
up €3,250 (+23.0%), from €14,103 to €17,353
- Taxes +€1,370
up €1,370 (+37.7%), from €3,637 to €5,007
- Financial charges +€811
up €811 (+26.4%), from €3,078 to €3,889
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 | €282,159 | €276,202 | -€5,957 | -2.1% |
| Fixed assets | 21/28 | €211,549 | €217,427 | +€5,878 | +2.8% |
| Tangible fixed assets | 22/27 | €211,549 | €217,427 | +€5,878 | +2.8% |
| Land and buildings | 22 | €202,124 | €211,516 | +€9,392 | +4.6% |
| Plant, machinery and equipment | 23 | €8,110 | €4,800 | -€3,310 | -40.8% |
| Furniture and vehicles | 24 | €1,316 | €1,111 | -€204 | -15.5% |
| Current assets | 29/58 | €70,610 | €58,775 | -€11,835 | -16.8% |
| Amounts receivable within one year | 40/41 | €28,379 | €33,573 | +€5,194 | +18.3% |
| Trade receivables | 40 | €25,252 | €28,977 | +€3,725 | +14.8% |
| Other amounts receivable | 41 | €3,127 | €4,596 | +€1,468 | +47.0% |
| Cash at bank and in hand | 54/58 | €42,231 | €25,202 | -€17,029 | -40.3% |
| Total equity and liabilities | 10/49 | €282,159 | €276,202 | -€5,957 | -2.1% |
| Equity | 10/15 | €103,858 | €115,828 | +€11,970 | +11.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | - | -€12,400 | |
| Other | 1109/19 | €12,400 | - | -€12,400 | |
| Reserves | 13 | €61,115 | €73,085 | +€11,970 | +19.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €19 | €19 | = | 0.0% |
| Distributable reserves | 133 | €59,236 | €71,206 | +€11,970 | +20.2% |
| Profit (loss) carried forward | 14 | €30,343 | €30,343 | = | 0.0% |
| Amounts payable | 17/49 | €178,301 | €160,375 | -€17,926 | -10.1% |
| Amounts payable after more than one year | 17 | €140,479 | €121,760 | -€18,719 | -13.3% |
| Financial debts | 170/4 | €140,479 | €121,760 | -€18,719 | -13.3% |
| Amounts payable within one year | 42/48 | €37,822 | €38,615 | +€793 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €18,602 | €18,746 | +€144 | +0.8% |
| Financial debts | 43 | - | €212 | +€212 | |
| Credit institutions | 430/8 | - | €212 | +€212 | |
| Trade debts | 44 | €1,646 | €3,350 | +€1,704 | +104% |
| Suppliers | 440/4 | €1,646 | €3,350 | +€1,704 | +104% |
| Taxes, remuneration and social security | 45 | €17,290 | €16,307 | -€984 | -5.7% |
| Taxes | 450/3 | €17,290 | €16,291 | -€1,000 | -5.8% |
| Remuneration and social security | 454/9 | - | €16 | +€16 | |
| Other amounts payable | 47/48 | €283 | €0 | -€283 | -100% |
| Remuneration, social security and pensions | 62 | €444 | €455 | +€11 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,103 | €17,353 | +€3,250 | +23.0% |
| Other operating charges | 640/8 | €3,687 | €17,502 | +€13,815 | +375% |
| Gross operating margin | 9900 | €30,953 | €56,117 | +€25,164 | +81.3% |
| Operating profit (loss) | 9901 | €12,720 | €20,808 | +€8,088 | +63.6% |
| Financial income | 75/76B | €81 | €58 | -€23 | -28.2% |
| Recurring financial income | 75 | €81 | €58 | -€23 | -28.2% |
| Financial charges | 65/66B | €3,078 | €3,889 | +€811 | +26.4% |
| Recurring financial charges | 65 | €3,078 | €3,889 | +€811 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | €9,722 | €16,976 | +€7,254 | +74.6% |
| Income taxes | 67/77 | €3,637 | €5,007 | +€1,370 | +37.7% |
| Profit (loss) for the period | 9904 | €6,085 | €11,970 | +€5,884 | +96.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,085 | €11,970 | +€5,884 | +96.7% |
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 15 October 2026 via checked.be.