BLACKFOX: 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.
BLACKFOX
Largest movements
- Cash -€1,966
down €1,966 (-20.3%), from €9,664 to €7,697
mainly Tax, wage and social debts (-€1,829) and Trade debts (-€1,702)
- Tangible fixed assets -€1,075
down €1,075 (-36.5%), from €2,946 to €1,871
- Receivables within one year +€751
up €751 (+10.7%), from €6,996 to €7,748
of which Other amounts receivable: +€384
- Tax, wage and social debts -€1,829
down €1,829 (-69.0%), from €2,652 to €823
- Trade debts -€1,702
down €1,702 (-62.8%), from €2,709 to €1,007
- Profit (loss) carried forward +€1,192
up €1,192 (+30.6%), from -€3,891 to -€2,699
- Gross operating margin -€8,050
down €8,050 (-68.9%), from €11,677 to €3,627
- Taxes -€1,781
down €1,781 (-67.2%), from €2,652 to €871
- Depreciation -€595
down €595 (-35.6%), from €1,669 to €1,075
- Write-downs -€300
no longer reported in 2025 (was €300)
- Other operating charges -€258
down €258 (-31.8%), from €811 to €553
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 | €20,071 | €17,795 | -€2,276 | -11.3% |
| Fixed assets | 21/28 | €2,946 | €1,871 | -€1,075 | -36.5% |
| Tangible fixed assets | 22/27 | €2,946 | €1,871 | -€1,075 | -36.5% |
| Plant, machinery and equipment | 23 | €2,946 | €1,871 | -€1,075 | -36.5% |
| Current assets | 29/58 | €17,125 | €15,924 | -€1,201 | -7.0% |
| Amounts receivable within one year | 40/41 | €6,996 | €7,748 | +€751 | +10.7% |
| Trade receivables | 40 | €5,714 | €6,082 | +€368 | +6.4% |
| Other amounts receivable | 41 | €1,282 | €1,666 | +€384 | +30.0% |
| Cash at bank and in hand | 54/58 | €9,664 | €7,697 | -€1,966 | -20.3% |
| Deferred charges and accrued income | 490/1 | €465 | €479 | +€14 | +3.0% |
| Total equity and liabilities | 10/49 | €20,071 | €17,795 | -€2,276 | -11.3% |
| Equity | 10/15 | €14,711 | €15,902 | +€1,192 | +8.1% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €9 | €9 | = | 0.0% |
| Distributable reserves | 133 | €9 | €9 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,891 | -€2,699 | +€1,192 | +30.6% |
| Amounts payable | 17/49 | €5,360 | €1,893 | -€3,467 | -64.7% |
| Amounts payable within one year | 42/48 | €5,360 | €1,893 | -€3,467 | -64.7% |
| Trade debts | 44 | €2,709 | €1,007 | -€1,702 | -62.8% |
| Suppliers | 440/4 | €2,709 | €1,007 | -€1,702 | -62.8% |
| Taxes, remuneration and social security | 45 | €2,652 | €823 | -€1,829 | -69.0% |
| Taxes | 450/3 | €2,652 | €823 | -€1,829 | -69.0% |
| Other amounts payable | 47/48 | - | €63 | +€63 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,669 | €1,075 | -€595 | -35.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €300 | - | -€300 | |
| Other operating charges | 640/8 | €811 | €553 | -€258 | -31.8% |
| Gross operating margin | 9900 | €11,677 | €3,627 | -€8,050 | -68.9% |
| Operating profit (loss) | 9901 | €8,896 | €1,999 | -€6,897 | -77.5% |
| Financial income | 75/76B | €2 | €64 | +€62 | +3733.7% |
| Recurring financial income | 75 | €2 | €64 | +€62 | +3733.7% |
| Financial charges | 65/66B | - | €0 | +€0 | |
| Recurring financial charges | 65 | - | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | €8,898 | €2,063 | -€6,835 | -76.8% |
| Income taxes | 67/77 | €2,652 | €871 | -€1,781 | -67.2% |
| Profit (loss) for the period | 9904 | €6,246 | €1,192 | -€5,054 | -80.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,246 | €1,192 | -€5,054 | -80.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.