BLACK MOUNTAIN: 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 MOUNTAIN
Largest movements
- Tangible fixed assets -€4,168
down €4,168 (-40.8%), from €10,226 to €6,058
- Receivables within one year +€1,237
up €1,237 (+2.1%), from €58,219 to €59,456
of which Trade receivables: +€11,846
- Cash +€760
up €760 (+13.7%), from €5,536 to €6,295
mainly Net result for the year (+€16,546) and Tax, wage and social debts (+€8,193)
- Tax, wage and social debts +€8,193
up €8,193 (+105%), from €7,805 to €15,998
- Debts after one year -€3,519
no longer reported in 2025 (was €3,519)
- Profit (loss) carried forward -€3,454
down €3,454 (-9.6%), from €36,078 to €32,623
- Current portion of long-term debt -€2,397
down €2,397 (-39.3%), from €6,097 to €3,700
- Gross operating margin +€15,473
up €15,473 (+183%), from €8,462 to €23,935
- Taxes +€3,365
up €3,365 (+232%), from €1,452 to €4,817
- Depreciation +€784
up €784 (+18.4%), from €4,266 to €5,050
- Other operating charges -€387
no longer reported in 2025 (was €387)
- Financial income +€240
up €240 (+8.8%), from €2,743 to €2,984
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 | €74,473 | €72,962 | -€1,511 | -2.0% |
| Fixed assets | 21/28 | €10,698 | €6,530 | -€4,168 | -39.0% |
| Tangible fixed assets | 22/27 | €10,226 | €6,058 | -€4,168 | -40.8% |
| Furniture and vehicles | 24 | €10,226 | €6,058 | -€4,168 | -40.8% |
| Financial fixed assets | 28 | €472 | €472 | = | 0.0% |
| Current assets | 29/58 | €63,775 | €66,431 | +€2,657 | +4.2% |
| Amounts receivable within one year | 40/41 | €58,219 | €59,456 | +€1,237 | +2.1% |
| Trade receivables | 40 | €3,880 | €15,727 | +€11,846 | +305% |
| Other amounts receivable | 41 | €54,339 | €43,729 | -€10,610 | -19.5% |
| Cash at bank and in hand | 54/58 | €5,536 | €6,295 | +€760 | +13.7% |
| Deferred charges and accrued income | 490/1 | €20 | €680 | +€660 | +3,368% |
| Total equity and liabilities | 10/49 | €74,473 | €72,962 | -€1,511 | -2.0% |
| Equity | 10/15 | €54,678 | €51,223 | -€3,454 | -6.3% |
| Reserves | 13 | €18,600 | €18,600 | = | 0.0% |
| Distributable reserves | 133 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €36,078 | €32,623 | -€3,454 | -9.6% |
| Amounts payable | 17/49 | €19,795 | €21,738 | +€1,943 | +9.8% |
| Amounts payable after more than one year | 17 | €3,519 | - | -€3,519 | |
| Financial debts | 170/4 | €3,519 | - | -€3,519 | |
| Amounts payable within one year | 42/48 | €16,276 | €21,738 | +€5,462 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | €6,097 | €3,700 | -€2,397 | -39.3% |
| Trade debts | 44 | €2,374 | €2,040 | -€334 | -14.1% |
| Suppliers | 440/4 | €2,374 | €2,040 | -€334 | -14.1% |
| Taxes, remuneration and social security | 45 | €7,805 | €15,998 | +€8,193 | +105% |
| Taxes | 450/3 | €7,805 | €15,998 | +€8,193 | +105% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,266 | €5,050 | +€784 | +18.4% |
| Other operating charges | 640/8 | €387 | - | -€387 | |
| Gross operating margin | 9900 | €8,462 | €23,935 | +€15,473 | +183% |
| Operating profit (loss) | 9901 | €3,809 | €18,885 | +€15,076 | +396% |
| Financial income | 75/76B | €2,743 | €2,984 | +€240 | +8.8% |
| Recurring financial income | 75 | €2,743 | €2,984 | +€240 | +8.8% |
| Financial charges | 65/66B | €530 | €506 | -€24 | -4.6% |
| Recurring financial charges | 65 | €530 | €506 | -€24 | -4.6% |
| Profit (loss) for the period before taxes | 9903 | €6,022 | €21,363 | +€15,341 | +255% |
| Income taxes | 67/77 | €1,452 | €4,817 | +€3,365 | +232% |
| Profit (loss) for the period | 9904 | €4,570 | €16,546 | +€11,976 | +262% |
| Profit (loss) for the period to be appropriated | 9905 | €4,570 | €16,546 | +€11,976 | +262% |
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 25 October 2026 via checked.be.