BLACK CORN: 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.
BLACK CORN
Largest movements
- Cash -€22,508
down €22,508 (-58.2%), from €38,656 to €16,149
mainly Net result for the year (-€17,814) and Investment in fixed assets (net) (-€9,284)
- Tangible fixed assets +€3,916
up €3,916 (+14.2%), from €27,598 to €31,514
of which Furniture and vehicles: +€2,083
- Receivables within one year -€1,403
down €1,403 (-17.5%), from €8,037 to €6,634
- Profit (loss) carried forward -€17,814
new in 2025: -€17,814
- Other debts -€2,176
down €2,176 (-3.0%), from €71,808 to €69,631
- Gross operating margin -€25,082
down €25,082, from €18,717 to -€6,365
- Taxes -€3,366
down €3,366 (-100.0%), from €3,366 to €0
- Depreciation +€1,281
up €1,281 (+31.3%), from €4,087 to €5,368
- Financial charges -€460
down €460 (-8.7%), from €5,284 to €4,824
- Other operating charges +€235
up €235 (+23.0%), from €1,023 to €1,258
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 | €85,536 | €65,541 | -€19,994 | -23.4% |
| Fixed assets | 21/28 | €27,807 | €31,723 | +€3,916 | +14.1% |
| Tangible fixed assets | 22/27 | €27,598 | €31,514 | +€3,916 | +14.2% |
| Land and buildings | 22 | €25,187 | €27,020 | +€1,833 | +7.3% |
| Furniture and vehicles | 24 | €2,411 | €4,494 | +€2,083 | +86.4% |
| Financial fixed assets | 28 | €209 | €209 | = | 0.0% |
| Current assets | 29/58 | €57,729 | €33,819 | -€23,910 | -41.4% |
| Stocks and contracts in progress | 3 | €10,786 | €10,786 | = | 0.0% |
| Stocks | 30/36 | €10,786 | €10,786 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €8,037 | €6,634 | -€1,403 | -17.5% |
| Other amounts receivable | 41 | €8,037 | €6,634 | -€1,403 | -17.5% |
| Cash at bank and in hand | 54/58 | €38,656 | €16,149 | -€22,508 | -58.2% |
| Deferred charges and accrued income | 490/1 | €249 | €249 | = | 0.0% |
| Total equity and liabilities | 10/49 | €85,536 | €65,541 | -€19,994 | -23.4% |
| Equity | 10/15 | €6,275 | -€11,539 | -€17,814 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €75 | €75 | = | 0.0% |
| Non-distributable reserves | 130/1 | €75 | €75 | = | 0.0% |
| Reserves not available under the articles | 1311 | €75 | €75 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€17,814 | -€17,814 | |
| Amounts payable | 17/49 | €79,261 | €77,080 | -€2,180 | -2.8% |
| Amounts payable within one year | 42/48 | €79,261 | €77,080 | -€2,180 | -2.8% |
| Trade debts | 44 | €615 | €69 | -€547 | -88.9% |
| Suppliers | 440/4 | €615 | €69 | -€547 | -88.9% |
| Taxes, remuneration and social security | 45 | €6,838 | €7,381 | +€543 | +7.9% |
| Taxes | 450/3 | €6,838 | €7,381 | +€543 | +7.9% |
| Other amounts payable | 47/48 | €71,808 | €69,631 | -€2,176 | -3.0% |
| Remuneration, social security and pensions | 62 | €94 | €0 | -€94 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,087 | €5,368 | +€1,281 | +31.3% |
| Other operating charges | 640/8 | €1,023 | €1,258 | +€235 | +23.0% |
| Gross operating margin | 9900 | €18,717 | -€6,365 | -€25,082 | |
| Operating profit (loss) | 9901 | €13,513 | -€12,990 | -€26,504 | |
| Financial charges | 65/66B | €5,284 | €4,824 | -€460 | -8.7% |
| Recurring financial charges | 65 | €5,284 | €4,824 | -€460 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €8,230 | -€17,814 | -€26,044 | |
| Income taxes | 67/77 | €3,366 | €0 | -€3,366 | -100.0% |
| Profit (loss) for the period | 9904 | €4,864 | -€17,814 | -€22,678 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,864 | -€17,814 | -€22,678 |
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 3 October 2026 via checked.be.