BLACK ROCK: 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 ROCK
Largest movements
- Tangible fixed assets -€8,762
down €8,762 (-2.8%), from €312,928 to €304,166
- Receivables within one year -€4,323
down €4,323 (-30.2%), from €14,323 to €10,000
- Profit (loss) carried forward -€28,209
down €28,209 (-64.1%), from -€44,013 to -€72,222
- Debts after one year +€13,255
up €13,255 (+5.4%), from €246,700 to €259,955
- Gross operating margin +€8,064
up €8,064 (+48.2%), from -€16,747 to -€8,683
- Depreciation -€7,171
down €7,171 (-27.0%), from €26,530 to €19,358
- Other operating charges -€451
down €451 (-87.9%), from €513 to €62
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 | €327,597 | €315,037 | -€12,560 | -3.8% |
| Fixed assets | 21/28 | €312,928 | €304,166 | -€8,762 | -2.8% |
| Tangible fixed assets | 22/27 | €312,928 | €304,166 | -€8,762 | -2.8% |
| Land and buildings | 22 | €312,928 | €304,166 | -€8,762 | -2.8% |
| Current assets | 29/58 | €14,669 | €10,871 | -€3,798 | -25.9% |
| Amounts receivable within one year | 40/41 | €14,323 | €10,000 | -€4,323 | -30.2% |
| Trade receivables | 40 | €14,323 | €10,000 | -€4,323 | -30.2% |
| Cash at bank and in hand | 54/58 | €205 | €723 | +€518 | +253% |
| Deferred charges and accrued income | 490/1 | €141 | €148 | +€7 | +4.7% |
| Total equity and liabilities | 10/49 | €327,597 | €315,037 | -€12,560 | -3.8% |
| Equity | 10/15 | €55,987 | €27,778 | -€28,209 | -50.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,013 | -€72,222 | -€28,209 | -64.1% |
| Amounts payable | 17/49 | €271,610 | €287,259 | +€15,649 | +5.8% |
| Amounts payable after more than one year | 17 | €246,700 | €259,955 | +€13,255 | +5.4% |
| Financial debts | 170/4 | €246,700 | €259,955 | +€13,255 | +5.4% |
| Amounts payable within one year | 42/48 | €24,910 | €27,304 | +€2,394 | +9.6% |
| Trade debts | 44 | €24,230 | €26,503 | +€2,273 | +9.4% |
| Suppliers | 440/4 | €24,230 | €26,503 | +€2,273 | +9.4% |
| Other amounts payable | 47/48 | €680 | €801 | +€121 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,530 | €19,358 | -€7,171 | -27.0% |
| Other operating charges | 640/8 | €513 | €62 | -€451 | -87.9% |
| Gross operating margin | 9900 | -€16,747 | -€8,683 | +€8,064 | +48.2% |
| Operating profit (loss) | 9901 | -€43,790 | -€28,104 | +€15,686 | +35.8% |
| Financial charges | 65/66B | €223 | €105 | -€118 | -52.8% |
| Recurring financial charges | 65 | €223 | €105 | -€118 | -52.8% |
| Profit (loss) for the period before taxes | 9903 | -€44,013 | -€28,209 | +€15,804 | +35.9% |
| Profit (loss) for the period | 9904 | -€44,013 | -€28,209 | +€15,804 | +35.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,013 | -€28,209 | +€15,804 | +35.9% |
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 17 October 2026 via checked.be.