BLACK WIZARDS: 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 WIZARDS
Largest movements
- Cash -€39,229
down €39,229 (-68.4%), from €57,364 to €18,135
mainly Investment in fixed assets (net) (-€63,560) and Net result for the year (-€12,916)
- Tangible fixed assets +€35,613
up €35,613 (+4.8%), from €748,723 to €784,336
of which Land and buildings: +€45,985
- Receivables within one year -€9,325
down €9,325 (-24.6%), from €37,915 to €28,590
of which Other amounts receivable: -€8,933
- Other debts +€13,693
up €13,693 (+8.6%), from €159,722 to €173,415
- Profit (loss) carried forward -€12,916
down €12,916 (-33.0%), from €39,178 to €26,262
- Gross operating margin +€46,248
up €46,248 (+62.2%), from €74,348 to €120,596
- Financial charges +€31,830
up €31,830 (+1,027%), from €3,100 to €34,930
of which Financial charges: +€23,023
- Depreciation +€18,740
up €18,740 (+199%), from €9,428 to €28,168
- Staff costs +€13,443
up €13,443 (+26.2%), from €51,376 to €64,820
- Other operating charges +€5,130
up €5,130 (+1,221%), from €420 to €5,550
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 | €865,022 | €852,397 | -€12,624 | -1.5% |
| Fixed assets | 21/28 | €749,350 | €784,743 | +€35,393 | +4.7% |
| Intangible fixed assets | 21 | €370 | €150 | -€220 | -59.5% |
| Tangible fixed assets | 22/27 | €748,723 | €784,336 | +€35,613 | +4.8% |
| Land and buildings | 22 | €718,678 | €764,663 | +€45,985 | +6.4% |
| Plant, machinery and equipment | 23 | €17,430 | €13,890 | -€3,540 | -20.3% |
| Furniture and vehicles | 24 | €3,808 | €5,783 | +€1,975 | +51.9% |
| Other tangible fixed assets | 26 | €8,807 | - | -€8,807 | |
| Financial fixed assets | 28 | €257 | €257 | = | 0.0% |
| Current assets | 29/58 | €115,672 | €67,655 | -€48,017 | -41.5% |
| Stocks and contracts in progress | 3 | €14,326 | €13,237 | -€1,088 | -7.6% |
| Stocks | 30/36 | €14,326 | €13,237 | -€1,088 | -7.6% |
| Amounts receivable within one year | 40/41 | €37,915 | €28,590 | -€9,325 | -24.6% |
| Trade receivables | 40 | €28,307 | €27,914 | -€392 | -1.4% |
| Other amounts receivable | 41 | €9,609 | €676 | -€8,933 | -93.0% |
| Cash at bank and in hand | 54/58 | €57,364 | €18,135 | -€39,229 | -68.4% |
| Deferred charges and accrued income | 490/1 | €6,067 | €7,692 | +€1,625 | +26.8% |
| Total equity and liabilities | 10/49 | €865,022 | €852,397 | -€12,624 | -1.5% |
| Equity | 10/15 | €41,678 | €28,762 | -€12,916 | -31.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,178 | €26,262 | -€12,916 | -33.0% |
| Amounts payable | 17/49 | €823,344 | €823,635 | +€291 | 0.0% |
| Amounts payable after more than one year | 17 | €579,301 | €570,969 | -€8,333 | -1.4% |
| Financial debts | 170/4 | €579,301 | €570,969 | -€8,333 | -1.4% |
| Amounts payable within one year | 42/48 | €238,643 | €247,093 | +€8,450 | +3.5% |
| Current portion of amounts payable after more than one year | 42 | €35,101 | €33,694 | -€1,407 | -4.0% |
| Trade debts | 44 | €28,115 | €25,754 | -€2,361 | -8.4% |
| Suppliers | 440/4 | €28,115 | €25,754 | -€2,361 | -8.4% |
| Advances received on contracts in progress | 46 | €3,700 | €150 | -€3,550 | -96.0% |
| Taxes, remuneration and social security | 45 | €12,005 | €14,082 | +€2,076 | +17.3% |
| Taxes | 450/3 | €9,013 | €8,494 | -€520 | -5.8% |
| Remuneration and social security | 454/9 | €2,992 | €5,588 | +€2,596 | +86.8% |
| Other amounts payable | 47/48 | €159,722 | €173,415 | +€13,693 | +8.6% |
| Accrued charges and deferred income | 492/3 | €5,400 | €5,574 | +€174 | +3.2% |
| Remuneration, social security and pensions | 62 | €51,376 | €64,820 | +€13,443 | +26.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,428 | €28,168 | +€18,740 | +199% |
| Other operating charges | 640/8 | €420 | €5,550 | +€5,130 | +1,221% |
| Gross operating margin | 9900 | €74,348 | €120,596 | +€46,248 | +62.2% |
| Operating profit (loss) | 9901 | €13,125 | €22,059 | +€8,934 | +68.1% |
| Financial income | 75/76B | €126 | €27 | -€99 | -78.4% |
| Recurring financial income | 75 | €11 | €27 | +€17 | +155% |
| Non-recurring financial income | 76B | €115 | - | -€115 | |
| Financial charges | 65/66B | €3,100 | €34,930 | +€31,830 | +1,027% |
| Recurring financial charges | 65 | €3,100 | €26,122 | +€23,023 | +743% |
| Non-recurring financial charges | 66B | - | €8,807 | +€8,807 | |
| Profit (loss) for the period before taxes | 9903 | €10,151 | -€12,844 | -€22,995 | |
| Income taxes | 67/77 | €2,613 | €72 | -€2,542 | -97.3% |
| Profit (loss) for the period | 9904 | €7,538 | -€12,916 | -€20,453 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,538 | -€12,916 | -€20,453 |
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 24 October 2026 via checked.be.