BLACK OAK: 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 OAK
Largest movements
- Cash -€400,680
down €400,680 (-81.1%), from €494,091 to €93,411
mainly Investment in fixed assets (net) (-€1.4m) and Net result for the year (-€803,370)
- Tangible fixed assets +€334,000
up €334,000 (+5.5%), from €6.1m to €6.4m
- Profit (loss) carried forward -€803,370
down €803,370 (-81.2%), from -€989,954 to -€1.8m
- Debts after one year +€694,895
up €694,895 (+13.1%), from €5.3m to €6.0m
- Depreciation +€785,000
up €785,000 (+339.8%), from €231,000 to €1.0m
- Gross operating margin +€90,557
up €90,557 (+19.1%), from €473,813 to €564,370
- Other operating charges +€39,287
up €39,287 (+45.2%), from €86,998 to €126,285
- Financial charges +€13,376
up €13,376 (+6.3%), from €212,079 to €225,455
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 | €6,566,904 | €6,517,501 | -€49,403 | -0.8% |
| Fixed assets | 21/28 | €6,072,814 | €6,406,814 | +€334,000 | +5.5% |
| Tangible fixed assets | 22/27 | €6,072,814 | €6,406,814 | +€334,000 | +5.5% |
| Land and buildings | 22 | €6,072,814 | €6,406,814 | +€334,000 | +5.5% |
| Current assets | 29/58 | €494,091 | €110,688 | -€383,403 | -77.6% |
| Amounts receivable within one year | 40/41 | - | €4,777 | +€4,777 | |
| Trade receivables | 40 | - | €4,777 | +€4,777 | |
| Cash at bank and in hand | 54/58 | €494,091 | €93,411 | -€400,680 | -81.1% |
| Deferred charges and accrued income | 490/1 | - | €12,500 | +€12,500 | |
| Total equity and liabilities | 10/49 | €6,566,904 | €6,517,501 | -€49,403 | -0.8% |
| Equity | 10/15 | €935,046 | €131,676 | -€803,370 | -85.9% |
| Contributions | 10/11 | €1,925,000 | €1,925,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€989,954 | -€1,793,324 | -€803,370 | -81.2% |
| Amounts payable | 17/49 | €5,631,858 | €6,385,825 | +€753,967 | +13.4% |
| Amounts payable after more than one year | 17 | €5,315,980 | €6,010,876 | +€694,895 | +13.1% |
| Financial debts | 170/4 | €5,315,980 | €6,010,876 | +€694,895 | +13.1% |
| Amounts payable within one year | 42/48 | €287,868 | €351,409 | +€63,540 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €286,848 | €350,946 | +€64,098 | +22.3% |
| Trade debts | 44 | €1,020 | €463 | -€557 | -54.6% |
| Suppliers | 440/4 | €1,020 | €463 | -€557 | -54.6% |
| Accrued charges and deferred income | 492/3 | €28,010 | €23,541 | -€4,469 | -16.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €231,000 | €1,016,000 | +€785,000 | +339.8% |
| Other operating charges | 640/8 | €86,998 | €126,285 | +€39,287 | +45.2% |
| Gross operating margin | 9900 | €473,813 | €564,370 | +€90,557 | +19.1% |
| Operating profit (loss) | 9901 | €155,815 | -€577,915 | -€733,730 | |
| Financial charges | 65/66B | €212,079 | €225,455 | +€13,376 | +6.3% |
| Recurring financial charges | 65 | €212,079 | €225,455 | +€13,376 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | -€56,264 | -€803,370 | -€747,107 | -1327.9% |
| Profit (loss) for the period | 9904 | -€56,264 | -€803,370 | -€747,107 | -1327.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,264 | -€803,370 | -€747,107 | -1327.9% |
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 8 October 2026 via checked.be.