Blackbird Capital: 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 Capital
Largest movements
- Cash +€137,322
up €137,322 (+19.6%), from €700,091 to €837,414
mainly Net result for the year (+€102,038) and Depreciation (+€26,380)
- Tangible fixed assets -€26,380
down €26,380 (-71.6%), from €36,831 to €10,451
- Profit (loss) carried forward +€101,038
up €101,038 (+19.3%), from €523,525 to €624,563
- Gross operating margin -€1,817
down €1,817 (-1.1%), from €168,135 to €166,318
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 | €803,472 | €914,415 | +€110,943 | +13.8% |
| Fixed assets | 21/28 | €36,831 | €10,451 | -€26,380 | -71.6% |
| Tangible fixed assets | 22/27 | €36,831 | €10,451 | -€26,380 | -71.6% |
| Furniture and vehicles | 24 | €36,831 | €10,451 | -€26,380 | -71.6% |
| Current assets | 29/58 | €766,641 | €903,964 | +€137,322 | +17.9% |
| Amounts receivable within one year | 40/41 | €66,550 | €66,550 | = | 0.0% |
| Trade receivables | 40 | €66,550 | €66,550 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €700,091 | €837,414 | +€137,322 | +19.6% |
| Total equity and liabilities | 10/49 | €803,472 | €914,415 | +€110,943 | +13.8% |
| Equity | 10/15 | €773,525 | €874,563 | +€101,038 | +13.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €523,525 | €624,563 | +€101,038 | +19.3% |
| Amounts payable | 17/49 | €29,947 | €39,852 | +€9,905 | +33.1% |
| Amounts payable within one year | 42/48 | €29,947 | €39,852 | +€9,905 | +33.1% |
| Trade debts | 44 | €150 | €196 | +€46 | +30.3% |
| Suppliers | 440/4 | €150 | €196 | +€46 | +30.3% |
| Taxes, remuneration and social security | 45 | €29,797 | €38,656 | +€8,859 | +29.7% |
| Taxes | 450/3 | €29,797 | €35,977 | +€6,180 | +20.7% |
| Remuneration and social security | 454/9 | - | €2,679 | +€2,679 | |
| Other amounts payable | 47/48 | - | €1,000 | +€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,380 | €26,380 | = | 0.0% |
| Other operating charges | 640/8 | €10,049 | €9,192 | -€857 | -8.5% |
| Gross operating margin | 9900 | €168,135 | €166,318 | -€1,817 | -1.1% |
| Operating profit (loss) | 9901 | €131,707 | €130,747 | -€960 | -0.7% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €171 | €232 | +€61 | +35.5% |
| Recurring financial charges | 65 | €171 | €232 | +€61 | +35.5% |
| Profit (loss) for the period before taxes | 9903 | €131,536 | €130,515 | -€1,021 | -0.8% |
| Income taxes | 67/77 | €29,619 | €28,477 | -€1,142 | -3.9% |
| Profit (loss) for the period | 9904 | €101,917 | €102,038 | +€121 | +0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €101,917 | €102,038 | +€121 | +0.1% |
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 31 October 2026 via checked.be.