BLACKBOULDER: 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.
BLACKBOULDER
Largest movements
- Cash +€528,889
up €528,889 (+191.9%), from €275,674 to €804,563
mainly Net result for the year (+€595,835) and Tax, wage and social debts (+€247,474)
- Receivables after one year +€186,780
up €186,780 (+89.4%), from €209,000 to €395,780
- Tangible fixed assets +€119,488
up €119,488 (+29.2%), from €409,814 to €529,302
of which Land and buildings: +€417,628
- Receivables within one year +€35,412
up €35,412 (+46.2%), from €76,596 to €112,008
of which Trade receivables: +€35,418
- Reserves +€595,835
up €595,835 (+96.0%), from €620,750 to €1.2m
- Tax, wage and social debts +€247,474
up €247,474 (+349.4%), from €70,831 to €318,306
- Debts after one year +€21,663
up €21,663 (+8.5%), from €256,328 to €277,991
- Gross operating margin +€561,079
up €561,079 (+234.0%), from €239,731 to €800,810
- Taxes +€138,175
up €138,175 (+247.7%), from €55,786 to €193,960
- Depreciation +€9,458
up €9,458 (+1022.1%), from €925 to €10,384
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 | €974,147 | €1,845,589 | +€871,443 | +89.5% |
| Fixed assets | 21/28 | €409,814 | €529,302 | +€119,488 | +29.2% |
| Tangible fixed assets | 22/27 | €409,814 | €529,302 | +€119,488 | +29.2% |
| Land and buildings | 22 | €85,000 | €502,628 | +€417,628 | +491.3% |
| Furniture and vehicles | 24 | €655 | €26,675 | +€26,020 | +3972.2% |
| Assets under construction and advance payments | 27 | €324,159 | €0 | -€324,159 | -100.0% |
| Current assets | 29/58 | €564,333 | €1,316,287 | +€751,954 | +133.2% |
| Amounts receivable after more than one year | 29 | €209,000 | €395,780 | +€186,780 | +89.4% |
| Other amounts receivable | 291 | €209,000 | €395,780 | +€186,780 | +89.4% |
| Amounts receivable within one year | 40/41 | €76,596 | €112,008 | +€35,412 | +46.2% |
| Trade receivables | 40 | €76,582 | €112,000 | +€35,418 | +46.2% |
| Other amounts receivable | 41 | €14 | €8 | -€5 | -39.9% |
| Cash at bank and in hand | 54/58 | €275,674 | €804,563 | +€528,889 | +191.9% |
| Deferred charges and accrued income | 490/1 | €3,063 | €3,936 | +€873 | +28.5% |
| Total equity and liabilities | 10/49 | €974,147 | €1,845,589 | +€871,443 | +89.5% |
| Equity | 10/15 | €623,500 | €1,219,335 | +€595,835 | +95.6% |
| Contributions | 10/11 | €2,750 | €2,750 | = | 0.0% |
| Reserves | 13 | €620,750 | €1,216,585 | +€595,835 | +96.0% |
| Distributable reserves | 133 | €620,750 | €1,216,585 | +€595,835 | +96.0% |
| Amounts payable | 17/49 | €350,647 | €626,255 | +€275,608 | +78.6% |
| Amounts payable after more than one year | 17 | €256,328 | €277,991 | +€21,663 | +8.5% |
| Financial debts | 170/4 | €256,328 | €277,991 | +€21,663 | +8.5% |
| Amounts payable within one year | 42/48 | €93,969 | €347,914 | +€253,945 | +270.2% |
| Current portion of amounts payable after more than one year | 42 | €16,524 | €17,222 | +€698 | +4.2% |
| Financial debts | 43 | €184 | €755 | +€571 | +310.3% |
| Other loans | 439 | €184 | €755 | +€571 | +310.3% |
| Trade debts | 44 | €1,201 | €3,405 | +€2,204 | +183.5% |
| Suppliers | 440/4 | €1,201 | €3,405 | +€2,204 | +183.5% |
| Taxes, remuneration and social security | 45 | €70,831 | €318,306 | +€247,474 | +349.4% |
| Taxes | 450/3 | €70,831 | €318,306 | +€247,474 | +349.4% |
| Other amounts payable | 47/48 | €5,229 | €8,227 | +€2,998 | +57.3% |
| Accrued charges and deferred income | 492/3 | €350 | €350 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €925 | €10,384 | +€9,458 | +1022.1% |
| Other operating charges | 640/8 | €581 | €780 | +€199 | +34.3% |
| Gross operating margin | 9900 | €239,731 | €800,810 | +€561,079 | +234.0% |
| Operating profit (loss) | 9901 | €238,224 | €789,647 | +€551,422 | +231.5% |
| Financial income | 75/76B | €9,030 | €13,280 | +€4,249 | +47.1% |
| Recurring financial income | 75 | €9,030 | €13,280 | +€4,249 | +47.1% |
| Financial charges | 65/66B | €9,351 | €13,132 | +€3,781 | +40.4% |
| Recurring financial charges | 65 | €9,351 | €13,132 | +€3,781 | +40.4% |
| Profit (loss) for the period before taxes | 9903 | €237,904 | €789,795 | +€551,891 | +232.0% |
| Income taxes | 67/77 | €55,786 | €193,960 | +€138,175 | +247.7% |
| Profit (loss) for the period | 9904 | €182,118 | €595,835 | +€413,716 | +227.2% |
| Profit (loss) for the period to be appropriated | 9905 | €182,118 | €595,835 | +€413,716 | +227.2% |
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 28 September 2026 via checked.be.