Blackbird: 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.
Blackbird
Largest movements
- Cash +€27,849
up €27,849 (+50.0%), from €55,696 to €83,545
mainly Net result for the year (+€10,275) and Trade debts (+€7,517)
- Tangible fixed assets -€3,238
down €3,238 (-47.8%), from €6,781 to €3,543
of which Plant, machinery and equipment: -€1,716
- Reserves +€10,275
up €10,275 (+30.3%), from €33,881 to €44,156
- Trade debts +€7,517
up €7,517 (+193.3%), from €3,888 to €11,405
- Other debts +€3,498
up €3,498 (+204.8%), from €1,708 to €5,207
- Tax, wage and social debts +€2,661
up €2,661 (+35.2%), from €7,561 to €10,222
of which Remuneration and social security: +€1,800
- Gross operating margin +€8,346
up €8,346 (+51.7%), from €16,143 to €24,488
- Taxes +€1,945
up €1,945 (+69.8%), from €2,787 to €4,731
- Financial charges +€486
up €486 (+23.0%), from €2,108 to €2,594
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 | €71,128 | €94,848 | +€23,721 | +33.3% |
| Fixed assets | 21/28 | €10,081 | €6,843 | -€3,238 | -32.1% |
| Tangible fixed assets | 22/27 | €6,781 | €3,543 | -€3,238 | -47.8% |
| Land and buildings | 22 | €4,514 | €2,991 | -€1,523 | -33.7% |
| Plant, machinery and equipment | 23 | €2,267 | €552 | -€1,716 | -75.7% |
| Financial fixed assets | 28 | €3,300 | €3,300 | = | 0.0% |
| Current assets | 29/58 | €61,047 | €88,006 | +€26,959 | +44.2% |
| Stocks and contracts in progress | 3 | €265 | €265 | = | 0.0% |
| Stocks | 30/36 | €265 | €265 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,878 | €3,982 | -€896 | -18.4% |
| Trade receivables | 40 | €4,505 | €3,500 | -€1,005 | -22.3% |
| Other amounts receivable | 41 | €373 | €482 | +€109 | +29.3% |
| Cash at bank and in hand | 54/58 | €55,696 | €83,545 | +€27,849 | +50.0% |
| Deferred charges and accrued income | 490/1 | €207 | €213 | +€6 | +3.1% |
| Total equity and liabilities | 10/49 | €71,128 | €94,848 | +€23,721 | +33.3% |
| Equity | 10/15 | €52,481 | €62,756 | +€10,275 | +19.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,881 | €44,156 | +€10,275 | +30.3% |
| Distributable reserves | 133 | €33,881 | €44,156 | +€10,275 | +30.3% |
| Amounts payable | 17/49 | €18,647 | €32,092 | +€13,445 | +72.1% |
| Amounts payable within one year | 42/48 | €18,579 | €32,027 | +€13,447 | +72.4% |
| Trade debts | 44 | €3,888 | €11,405 | +€7,517 | +193.3% |
| Suppliers | 440/4 | €3,888 | €11,405 | +€7,517 | +193.3% |
| Advances received on contracts in progress | 46 | €5,421 | €5,193 | -€229 | -4.2% |
| Taxes, remuneration and social security | 45 | €7,561 | €10,222 | +€2,661 | +35.2% |
| Taxes | 450/3 | €7,561 | €8,422 | +€861 | +11.4% |
| Remuneration and social security | 454/9 | - | €1,800 | +€1,800 | |
| Other amounts payable | 47/48 | €1,708 | €5,207 | +€3,498 | +204.8% |
| Accrued charges and deferred income | 492/3 | €68 | €66 | -€2 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,022 | €3,238 | +€217 | +7.2% |
| Other operating charges | 640/8 | €3,717 | €3,650 | -€68 | -1.8% |
| Gross operating margin | 9900 | €16,143 | €24,488 | +€8,346 | +51.7% |
| Operating profit (loss) | 9901 | €9,404 | €17,600 | +€8,197 | +87.2% |
| Financial charges | 65/66B | €2,108 | €2,594 | +€486 | +23.0% |
| Recurring financial charges | 65 | €2,108 | €2,594 | +€486 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | €7,295 | €15,006 | +€7,711 | +105.7% |
| Income taxes | 67/77 | €2,787 | €4,731 | +€1,945 | +69.8% |
| Profit (loss) for the period | 9904 | €4,509 | €10,275 | +€5,766 | +127.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,509 | €10,275 | +€5,766 | +127.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.