Blackbelt: 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.
Blackbelt
Largest movements
- Cash +€32,264
up €32,264 (+78.8%), from €40,946 to €73,210
mainly Net result for the year (+€29,976) and Trade debts (+€22,328)
- Tangible fixed assets -€11,371
down €11,371 (-31.3%), from €36,288 to €24,918
of which Leasing and similar rights: -€18,552
- Receivables within one year +€11,084
up €11,084 (+6.9%), from €160,993 to €172,077
- Financial fixed assets +€6,000
new in 2025: €6,000
- Trade debts +€22,328
new in 2025: €22,328
- Debts after one year -€18,050
down €18,050 (-100%), from €18,050 to €0
- Tax, wage and social debts +€13,020
up €13,020 (+28.9%), from €45,042 to €58,062
of which Remuneration and social security: +€13,535
- Profit (loss) carried forward +€12,726
up €12,726 (+8.2%), from €154,978 to €167,704
- Other debts +€8,160
up €8,160 (+42.9%), from €19,007 to €27,167
- Staff costs +€44,470
up €44,470 (+112%), from €39,860 to €84,330
- Gross operating margin +€15,186
up €15,186 (+11.4%), from €133,229 to €148,415
- Taxes -€6,778
down €6,778 (-35.4%), from €19,130 to €12,352
- Depreciation +€1,678
up €1,678 (+9.9%), from €16,963 to €18,640
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 | €240,328 | €281,305 | +€40,977 | +17.1% |
| Fixed assets | 21/28 | €36,288 | €30,918 | -€5,371 | -14.8% |
| Tangible fixed assets | 22/27 | €36,288 | €24,918 | -€11,371 | -31.3% |
| Land and buildings | 22 | €6,502 | €5,709 | -€792 | -12.2% |
| Plant, machinery and equipment | 23 | €4,941 | €8,211 | +€3,270 | +66.2% |
| Furniture and vehicles | 24 | €6,294 | €10,997 | +€4,703 | +74.7% |
| Leasing and similar rights | 25 | €18,552 | €0 | -€18,552 | -100% |
| Financial fixed assets | 28 | - | €6,000 | +€6,000 | |
| Current assets | 29/58 | €204,040 | €250,387 | +€46,348 | +22.7% |
| Amounts receivable within one year | 40/41 | €160,993 | €172,077 | +€11,084 | +6.9% |
| Trade receivables | 40 | €160,993 | €172,077 | +€11,084 | +6.9% |
| Current investments | 50/53 | €2,100 | €2,700 | +€600 | +28.6% |
| Cash at bank and in hand | 54/58 | €40,946 | €73,210 | +€32,264 | +78.8% |
| Deferred charges and accrued income | 490/1 | - | €2,400 | +€2,400 | |
| Total equity and liabilities | 10/49 | €240,328 | €281,305 | +€40,977 | +17.1% |
| Equity | 10/15 | €155,978 | €168,704 | +€12,726 | +8.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | - | -€1,000 | |
| Issued capital | 100 | €1,000 | - | -€1,000 | |
| Profit (loss) carried forward | 14 | €154,978 | €167,704 | +€12,726 | +8.2% |
| Amounts payable | 17/49 | €84,350 | €112,601 | +€28,251 | +33.5% |
| Amounts payable after more than one year | 17 | €18,050 | €0 | -€18,050 | -100% |
| Financial debts | 170/4 | €18,050 | €0 | -€18,050 | -100% |
| Amounts payable within one year | 42/48 | €64,049 | €111,352 | +€47,303 | +73.9% |
| Financial debts | 43 | - | €3,795 | +€3,795 | |
| Credit institutions | 430/8 | - | €3,795 | +€3,795 | |
| Trade debts | 44 | - | €22,328 | +€22,328 | |
| Suppliers | 440/4 | - | €22,328 | +€22,328 | |
| Taxes, remuneration and social security | 45 | €45,042 | €58,062 | +€13,020 | +28.9% |
| Taxes | 450/3 | €45,042 | €44,527 | -€515 | -1.1% |
| Remuneration and social security | 454/9 | - | €13,535 | +€13,535 | |
| Other amounts payable | 47/48 | €19,007 | €27,167 | +€8,160 | +42.9% |
| Accrued charges and deferred income | 492/3 | €2,250 | €1,249 | -€1,001 | -44.5% |
| Non-recurring operating income | 76A | - | €2,534 | +€2,534 | |
| Remuneration, social security and pensions | 62 | €39,860 | €84,330 | +€44,470 | +112% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,963 | €18,640 | +€1,678 | +9.9% |
| Other operating charges | 640/8 | €814 | €1,787 | +€973 | +119% |
| Gross operating margin | 9900 | €133,229 | €148,415 | +€15,186 | +11.4% |
| Operating profit (loss) | 9901 | €75,592 | €43,658 | -€31,935 | -42.2% |
| Financial income | 75/76B | €10 | €1 | -€9 | -88.6% |
| Recurring financial income | 75 | €10 | €1 | -€9 | -88.6% |
| Financial charges | 65/66B | €1,592 | €1,331 | -€261 | -16.4% |
| Recurring financial charges | 65 | €1,592 | €1,331 | -€261 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €74,011 | €42,328 | -€31,683 | -42.8% |
| Income taxes | 67/77 | €19,130 | €12,352 | -€6,778 | -35.4% |
| Profit (loss) for the period | 9904 | €54,880 | €29,976 | -€24,904 | -45.4% |
| Profit (loss) for the period to be appropriated | 9905 | €54,880 | €29,976 | -€24,904 | -45.4% |
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 25 October 2026 via checked.be.