BLACKFISK: 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.
BLACKFISK
Largest movements
- Tangible fixed assets -€51,259
down €51,259 (-11.9%), from €430,242 to €378,982
of which Other tangible fixed assets: -€26,523
- Receivables within one year +€36,746
up €36,746 (+59.6%), from €61,628 to €98,374
of which Trade receivables: +€31,390
- Cash +€25,668
up €25,668 (+63.0%), from €40,771 to €66,439
mainly Trade debts (+€75,668) and Depreciation (+€58,123)
- Deferred charges and accrued income +€6,780
new in 2025: €6,780
- Trade debts +€75,668
up €75,668 (+33.5%), from €226,077 to €301,745
- Debts after one year -€39,096
down €39,096 (-16.6%), from €236,055 to €196,960
- Current portion of long-term debt -€10,579
down €10,579 (-22.0%), from €48,089 to €37,509
- Profit (loss) carried forward -€7,798
down €7,798 (-30.6%), from -€25,482 to -€33,279
- Gross operating margin +€103,561
up €103,561 (+174.6%), from €59,305 to €162,867
- Staff costs -€16,351
down €16,351 (-13.8%), from €118,339 to €101,988
- Financial charges -€9,126
down €9,126 (-47.7%), from €19,150 to €10,024
- Other operating charges -€2,055
down €2,055 (-76.5%), from €2,687 to €632
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 | €545,105 | €564,889 | +€19,784 | +3.6% |
| Fixed assets | 21/28 | €430,532 | €379,272 | -€51,259 | -11.9% |
| Tangible fixed assets | 22/27 | €430,242 | €378,982 | -€51,259 | -11.9% |
| Plant, machinery and equipment | 23 | €36,651 | €29,801 | -€6,850 | -18.7% |
| Furniture and vehicles | 24 | €28,754 | €21,798 | -€6,956 | -24.2% |
| Leasing and similar rights | 25 | €14,961 | €4,031 | -€10,930 | -73.1% |
| Other tangible fixed assets | 26 | €349,875 | €323,352 | -€26,523 | -7.6% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €114,574 | €185,617 | +€71,043 | +62.0% |
| Stocks and contracts in progress | 3 | €12,175 | €14,024 | +€1,849 | +15.2% |
| Stocks | 30/36 | €12,175 | €14,024 | +€1,849 | +15.2% |
| Amounts receivable within one year | 40/41 | €61,628 | €98,374 | +€36,746 | +59.6% |
| Trade receivables | 40 | €31,543 | €62,933 | +€31,390 | +99.5% |
| Other amounts receivable | 41 | €30,084 | €35,441 | +€5,357 | +17.8% |
| Cash at bank and in hand | 54/58 | €40,771 | €66,439 | +€25,668 | +63.0% |
| Deferred charges and accrued income | 490/1 | - | €6,780 | +€6,780 | |
| Total equity and liabilities | 10/49 | €545,105 | €564,889 | +€19,784 | +3.6% |
| Equity | 10/15 | €21,392 | €13,595 | -€7,798 | -36.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €44,874 | €44,874 | = | 0.0% |
| Tax-exempt reserves | 132 | €6,725 | €6,725 | = | 0.0% |
| Distributable reserves | 133 | €38,149 | €38,149 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€25,482 | -€33,279 | -€7,798 | -30.6% |
| Amounts payable | 17/49 | €523,713 | €551,294 | +€27,581 | +5.3% |
| Amounts payable after more than one year | 17 | €236,055 | €196,960 | -€39,096 | -16.6% |
| Financial debts | 170/4 | €236,055 | €196,960 | -€39,096 | -16.6% |
| Amounts payable within one year | 42/48 | €287,658 | €354,335 | +€66,677 | +23.2% |
| Current portion of amounts payable after more than one year | 42 | €48,089 | €37,509 | -€10,579 | -22.0% |
| Financial debts | 43 | €5,116 | €2,523 | -€2,593 | -50.7% |
| Credit institutions | 430/8 | €5,116 | €2,523 | -€2,593 | -50.7% |
| Trade debts | 44 | €226,077 | €301,745 | +€75,668 | +33.5% |
| Suppliers | 440/4 | €226,077 | €301,745 | +€75,668 | +33.5% |
| Taxes, remuneration and social security | 45 | €8,376 | €12,557 | +€4,181 | +49.9% |
| Taxes | 450/3 | - | €746 | +€746 | |
| Remuneration and social security | 454/9 | €8,376 | €11,810 | +€3,435 | +41.0% |
| Non-recurring operating income | 76A | - | €5,905 | +€5,905 | |
| Remuneration, social security and pensions | 62 | €118,339 | €101,988 | -€16,351 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,363 | €58,123 | -€1,241 | -2.1% |
| Other operating charges | 640/8 | €2,687 | €632 | -€2,055 | -76.5% |
| Gross operating margin | 9900 | €59,305 | €162,867 | +€103,561 | +174.6% |
| Operating profit (loss) | 9901 | -€121,083 | €2,125 | +€123,208 | |
| Financial income | 75/76B | €599 | €102 | -€497 | -83.0% |
| Recurring financial income | 75 | €599 | €102 | -€497 | -83.0% |
| Financial charges | 65/66B | €19,150 | €10,024 | -€9,126 | -47.7% |
| Recurring financial charges | 65 | €19,150 | €10,024 | -€9,126 | -47.7% |
| Profit (loss) for the period before taxes | 9903 | -€139,634 | -€7,798 | +€131,836 | +94.4% |
| Profit (loss) for the period | 9904 | -€139,634 | -€7,798 | +€131,836 | +94.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€139,634 | -€7,798 | +€131,836 | +94.4% |
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.