BLACKBREAD: 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.
BLACKBREAD
Largest movements
- Cash +€36,625
up €36,625 (+962.5%), from €3,805 to €40,430
mainly Net result for the year (+€38,569) and Tax, wage and social debts (+€8,049)
- Receivables within one year +€5,678
up €5,678 (+1056.9%), from €537 to €6,215
of which Other amounts receivable: +€4,763
- Reserves +€38,500
up €38,500 (+67.5%), from €57,000 to €95,500
- Tax, wage and social debts +€8,049
up €8,049 (+42.1%), from €19,104 to €27,154
- Other debts -€5,287
no longer reported in 2025 (was €5,287)
- Gross operating margin +€32,016
up €32,016 (+161.5%), from €19,818 to €51,834
- Taxes +€6,023
up €6,023 (+138.3%), from €4,356 to €10,378
- Depreciation +€569
up €569 (+100.0%), from €569 to €1,139
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 | €90,808 | €131,972 | +€41,164 | +45.3% |
| Fixed assets | 21/28 | €5,374 | €4,235 | -€1,139 | -21.2% |
| Tangible fixed assets | 22/27 | €5,124 | €3,985 | -€1,139 | -22.2% |
| Furniture and vehicles | 24 | €5,124 | €3,985 | -€1,139 | -22.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €85,434 | €127,737 | +€42,303 | +49.5% |
| Amounts receivable after more than one year | 29 | €80,000 | €80,000 | = | 0.0% |
| Other amounts receivable | 291 | €80,000 | €80,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €537 | €6,215 | +€5,678 | +1056.9% |
| Trade receivables | 40 | €537 | €1,452 | +€915 | +170.3% |
| Other amounts receivable | 41 | - | €4,763 | +€4,763 | |
| Cash at bank and in hand | 54/58 | €3,805 | €40,430 | +€36,625 | +962.5% |
| Deferred charges and accrued income | 490/1 | €1,092 | €1,092 | = | 0.0% |
| Total equity and liabilities | 10/49 | €90,808 | €131,972 | +€41,164 | +45.3% |
| Equity | 10/15 | €62,001 | €100,570 | +€38,569 | +62.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €57,000 | €95,500 | +€38,500 | +67.5% |
| Distributable reserves | 133 | €57,000 | €95,500 | +€38,500 | +67.5% |
| Profit (loss) carried forward | 14 | €1 | €70 | +€69 | +5156.4% |
| Amounts payable | 17/49 | €28,806 | €31,402 | +€2,596 | +9.0% |
| Amounts payable within one year | 42/48 | €28,806 | €31,402 | +€2,596 | +9.0% |
| Financial debts | 43 | €155 | €201 | +€46 | +29.8% |
| Credit institutions | 430/8 | €155 | €201 | +€46 | +29.8% |
| Trade debts | 44 | €4,259 | €4,047 | -€212 | -5.0% |
| Suppliers | 440/4 | €4,259 | €4,047 | -€212 | -5.0% |
| Taxes, remuneration and social security | 45 | €19,104 | €27,154 | +€8,049 | +42.1% |
| Taxes | 450/3 | €19,104 | €27,154 | +€8,049 | +42.1% |
| Other amounts payable | 47/48 | €5,287 | - | -€5,287 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €569 | €1,139 | +€569 | +100.0% |
| Other operating charges | 640/8 | €1,180 | €1,503 | +€322 | +27.3% |
| Gross operating margin | 9900 | €19,818 | €51,834 | +€32,016 | +161.5% |
| Operating profit (loss) | 9901 | €18,069 | €49,192 | +€31,124 | +172.3% |
| Financial income | 75/76B | €106 | €52 | -€54 | -50.7% |
| Recurring financial income | 75 | €106 | €52 | -€54 | -50.7% |
| Financial charges | 65/66B | €110 | €298 | +€188 | +170.2% |
| Recurring financial charges | 65 | €110 | €298 | +€188 | +170.2% |
| Profit (loss) for the period before taxes | 9903 | €18,064 | €48,947 | +€30,882 | +171.0% |
| Income taxes | 67/77 | €4,356 | €10,378 | +€6,023 | +138.3% |
| Profit (loss) for the period | 9904 | €13,709 | €38,569 | +€24,860 | +181.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,709 | €38,569 | +€24,860 | +181.3% |
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 4 October 2026 via checked.be.