BLACK DUCK: 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 DUCK
Largest movements
- Financial fixed assets -€466,033
down €466,033 (-22.7%), from €2.1m to €1.6m
- Debts after one year -€723,000
down €723,000 (-61.9%), from €1.2m to €445,000
- Profit (loss) carried forward +€292,832
up €292,832 (+53.2%), from -€550,789 to -€257,957
- Other debts -€34,807
down €34,807 (-83.9%), from €41,482 to €6,675
- Financial income +€311,637
up €311,637 (+736%), from €42,330 to €353,967
- Financial charges -€87,750
down €87,750 (-59.6%), from €147,285 to €59,535
- Other operating charges +€18
up €18 (+1.7%), from €1,075 to €1,094
- Gross operating margin +€16
up €16 (+3.1%), from -€522 to -€506
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 | €2,052,693 | €1,587,718 | -€464,975 | -22.7% |
| Fixed assets | 21/28 | €2,050,000 | €1,583,967 | -€466,033 | -22.7% |
| Financial fixed assets | 28 | €2,050,000 | €1,583,967 | -€466,033 | -22.7% |
| Current assets | 29/58 | €2,693 | €3,751 | +€1,058 | +39.3% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €2,693 | €3,751 | +€1,058 | +39.3% |
| Total equity and liabilities | 10/49 | €2,052,693 | €1,587,718 | -€464,975 | -22.7% |
| Equity | 10/15 | €843,211 | €1,136,043 | +€292,832 | +34.7% |
| Contributions | 10/11 | €1,394,000 | €1,394,000 | = | 0.0% |
| Capital | 10 | €1,394,000 | €1,394,000 | = | 0.0% |
| Issued capital | 100 | €2,000,000 | €2,000,000 | = | 0.0% |
| Uncalled capital | 101 | €606,000 | €606,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€550,789 | -€257,957 | +€292,832 | +53.2% |
| Amounts payable | 17/49 | €1,209,482 | €451,675 | -€757,807 | -62.7% |
| Amounts payable after more than one year | 17 | €1,168,000 | €445,000 | -€723,000 | -61.9% |
| Financial debts | 170/4 | €1,168,000 | €445,000 | -€723,000 | -61.9% |
| Amounts payable within one year | 42/48 | €41,482 | €6,675 | -€34,807 | -83.9% |
| Other amounts payable | 47/48 | €41,482 | €6,675 | -€34,807 | -83.9% |
| Other operating charges | 640/8 | €1,075 | €1,094 | +€18 | +1.7% |
| Gross operating margin | 9900 | -€522 | -€506 | +€16 | +3.1% |
| Operating profit (loss) | 9901 | -€1,598 | -€1,600 | -€2 | -0.1% |
| Financial income | 75/76B | €42,330 | €353,967 | +€311,637 | +736% |
| Recurring financial income | 75 | €42,330 | €353,967 | +€311,637 | +736% |
| Financial charges | 65/66B | €147,285 | €59,535 | -€87,750 | -59.6% |
| Recurring financial charges | 65 | €147,285 | €59,535 | -€87,750 | -59.6% |
| Profit (loss) for the period before taxes | 9903 | -€106,553 | €292,832 | +€399,385 | |
| Profit (loss) for the period | 9904 | -€106,553 | €292,832 | +€399,385 | |
| Profit (loss) for the period to be appropriated | 9905 | -€106,553 | €292,832 | +€399,385 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.