BlackBear Labs: 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.
BlackBear Labs
Largest movements
- Receivables within one year -€95,491
down €95,491 (-93.2%), from €102,426 to €6,935
of which Trade receivables: -€93,751
- Cash +€17,835
up €17,835 (+22.6%), from €78,770 to €96,605
mainly Receivables within one year (+€95,491)
- Trade debts -€55,734
down €55,734 (-82.0%), from €67,959 to €12,225
- Advances received -€8,477
down €8,477 (-100.0%), from €8,477 to €0
- Profit (loss) carried forward -€7,677
new in 2025: -€7,677
- Reserves -€3,884
down €3,884 (-100.0%), from €3,884 to €0
- Other operating charges +€39,665
up €39,665 (+7673.9%), from €517 to €40,182
- Gross operating margin +€24,574
up €24,574 (+412.4%), from €5,958 to €30,532
- Taxes -€1,149
down €1,149 (-100.0%), from €1,149 to €0
- Write-downs +€950
new in 2025: €950
- Financial charges +€621
up €621 (+152.0%), from €408 to €1,029
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 | €181,357 | €103,705 | -€77,652 | -42.8% |
| Current assets | 29/58 | €181,357 | €103,705 | -€77,652 | -42.8% |
| Amounts receivable within one year | 40/41 | €102,426 | €6,935 | -€95,491 | -93.2% |
| Trade receivables | 40 | €95,584 | €1,833 | -€93,751 | -98.1% |
| Other amounts receivable | 41 | €6,842 | €5,102 | -€1,740 | -25.4% |
| Cash at bank and in hand | 54/58 | €78,770 | €96,605 | +€17,835 | +22.6% |
| Deferred charges and accrued income | 490/1 | €161 | €164 | +€3 | +2.0% |
| Total equity and liabilities | 10/49 | €181,357 | €103,705 | -€77,652 | -42.8% |
| Equity | 10/15 | €28,884 | €17,323 | -€11,561 | -40.0% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €3,884 | €0 | -€3,884 | -100.0% |
| Distributable reserves | 133 | €3,884 | €0 | -€3,884 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€7,677 | -€7,677 | |
| Amounts payable | 17/49 | €152,473 | €86,382 | -€66,091 | -43.3% |
| Amounts payable within one year | 42/48 | €152,473 | €86,382 | -€66,091 | -43.3% |
| Financial debts | 43 | €1,074 | €494 | -€580 | -54.0% |
| Credit institutions | 430/8 | €1,074 | €494 | -€580 | -54.0% |
| Trade debts | 44 | €67,959 | €12,225 | -€55,734 | -82.0% |
| Suppliers | 440/4 | €67,959 | €12,225 | -€55,734 | -82.0% |
| Advances received on contracts in progress | 46 | €8,477 | €0 | -€8,477 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,149 | €0 | -€1,149 | -100.0% |
| Taxes | 450/3 | €1,149 | €0 | -€1,149 | -100.0% |
| Other amounts payable | 47/48 | €73,814 | €73,663 | -€151 | -0.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €950 | +€950 | |
| Other operating charges | 640/8 | €517 | €40,182 | +€39,665 | +7673.9% |
| Gross operating margin | 9900 | €5,958 | €30,532 | +€24,574 | +412.4% |
| Operating profit (loss) | 9901 | €5,442 | -€10,600 | -€16,041 | |
| Financial income | 75/76B | €0 | €68 | +€68 | +678000.0% |
| Recurring financial income | 75 | €0 | €68 | +€68 | +678000.0% |
| Financial charges | 65/66B | €408 | €1,029 | +€621 | +152.0% |
| Recurring financial charges | 65 | €408 | €1,029 | +€621 | +152.0% |
| Profit (loss) for the period before taxes | 9903 | €5,033 | -€11,561 | -€16,594 | |
| Income taxes | 67/77 | €1,149 | €0 | -€1,149 | -100.0% |
| Profit (loss) for the period | 9904 | €3,884 | -€11,561 | -€15,445 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,884 | -€11,561 | -€15,445 |
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.