BLACK SWAN CONSULTING: 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 SWAN CONSULTING
Largest movements
- Tangible fixed assets -€11,811
down €11,811 (-2.7%), from €439,860 to €428,049
of which Land and buildings: -€11,387
- Cash +€9,438
up €9,438 (+9.5%), from €99,023 to €108,461
mainly Other debts (+€166,163) and Depreciation (+€11,811)
- Reserves -€180,926
down €180,926 (-48.4%), from €374,092 to €193,166
- Other debts +€166,163
new in 2025: €166,163
- Tax, wage and social debts +€5,947
up €5,947 (+31.9%), from €18,618 to €24,566
- Gross operating margin -€45,044
down €45,044 (-61.5%), from €73,208 to €28,164
- Taxes -€12,696
down €12,696 (-67.4%), from €18,824 to €6,128
- Financial income -€1,187
down €1,187 (-66.4%), from €1,788 to €601
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 | €549,085 | €542,119 | -€6,966 | -1.3% |
| Fixed assets | 21/28 | €439,860 | €428,049 | -€11,811 | -2.7% |
| Tangible fixed assets | 22/27 | €439,860 | €428,049 | -€11,811 | -2.7% |
| Land and buildings | 22 | €439,436 | €428,049 | -€11,387 | -2.6% |
| Plant, machinery and equipment | 23 | €108 | - | -€108 | |
| Furniture and vehicles | 24 | €317 | - | -€317 | |
| Current assets | 29/58 | €109,224 | €114,070 | +€4,845 | +4.4% |
| Amounts receivable within one year | 40/41 | €10,118 | €5,609 | -€4,509 | -44.6% |
| Trade receivables | 40 | €1,000 | €5,200 | +€4,200 | +420% |
| Other amounts receivable | 41 | €9,118 | €409 | -€8,709 | -95.5% |
| Cash at bank and in hand | 54/58 | €99,023 | €108,461 | +€9,438 | +9.5% |
| Deferred charges and accrued income | 490/1 | €83 | - | -€83 | |
| Total equity and liabilities | 10/49 | €549,085 | €542,119 | -€6,966 | -1.3% |
| Equity | 10/15 | €530,466 | €349,540 | -€180,926 | -34.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €374,092 | €193,166 | -€180,926 | -48.4% |
| Distributable reserves | 133 | €374,092 | €193,166 | -€180,926 | -48.4% |
| Profit (loss) carried forward | 14 | €106,375 | €106,375 | = | 0.0% |
| Amounts payable | 17/49 | €18,618 | €192,579 | +€173,961 | +934% |
| Amounts payable within one year | 42/48 | €18,618 | €190,729 | +€172,111 | +924% |
| Taxes, remuneration and social security | 45 | €18,618 | €24,566 | +€5,947 | +31.9% |
| Taxes | 450/3 | €18,618 | €24,566 | +€5,947 | +31.9% |
| Other amounts payable | 47/48 | - | €166,163 | +€166,163 | |
| Accrued charges and deferred income | 492/3 | - | €1,850 | +€1,850 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,856 | €11,811 | -€45 | -0.4% |
| Other operating charges | 640/8 | €3,346 | €2,691 | -€655 | -19.6% |
| Gross operating margin | 9900 | €73,208 | €28,164 | -€45,044 | -61.5% |
| Operating profit (loss) | 9901 | €58,006 | €13,662 | -€44,344 | -76.4% |
| Financial income | 75/76B | €1,788 | €601 | -€1,187 | -66.4% |
| Recurring financial income | 75 | €1,788 | €601 | -€1,187 | -66.4% |
| Financial charges | 65/66B | €195 | €245 | +€51 | +25.9% |
| Recurring financial charges | 65 | €195 | €245 | +€51 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | €59,600 | €14,018 | -€45,582 | -76.5% |
| Income taxes | 67/77 | €18,824 | €6,128 | -€12,696 | -67.4% |
| Profit (loss) for the period | 9904 | €40,776 | €7,890 | -€32,886 | -80.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,776 | €7,890 | -€32,886 | -80.7% |
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 18 October 2026 via checked.be.