BLACKH: 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.
BLACKH
Largest movements
- Financial fixed assets +€166,788
up €166,788 (+166.8%), from €100,000 to €266,788
- Receivables within one year +€12,592
up €12,592 (+18.1%), from €69,515 to €82,107
of which Trade receivables: +€17,642
- Tangible fixed assets -€10,800
down €10,800 (-23.7%), from €45,533 to €34,733
- Cash +€6,073
up €6,073 (+302.0%), from €2,011 to €8,084
mainly Contributions, distributions and other (+€164,788) and Depreciation (+€10,800)
- Revaluation surpluses +€164,788
new in 2026: €164,788
- Tax, wage and social debts +€4,986
up €4,986 (+71.3%), from €6,989 to €11,975
of which Remuneration and social security: +€7,964
- Financial charges -€6,078
down €6,078 (-98.3%), from €6,183 to €106
- Depreciation +€2,333
up €2,333 (+27.5%), from €8,467 to €10,800
- Other operating charges -€1,638
down €1,638 (-64.1%), from €2,554 to €917
- Taxes +€766
up €766 (+412.8%), from €186 to €952
- Gross operating margin +€221
up €221 (+1.6%), from €14,157 to €14,379
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €217,763 | €391,796 | +€174,033 | +79.9% |
| Fixed assets | 21/28 | €145,533 | €301,521 | +€155,988 | +107.2% |
| Tangible fixed assets | 22/27 | €45,533 | €34,733 | -€10,800 | -23.7% |
| Furniture and vehicles | 24 | €45,533 | €34,733 | -€10,800 | -23.7% |
| Financial fixed assets | 28 | €100,000 | €266,788 | +€166,788 | +166.8% |
| Current assets | 29/58 | €72,230 | €90,274 | +€18,044 | +25.0% |
| Amounts receivable within one year | 40/41 | €69,515 | €82,107 | +€12,592 | +18.1% |
| Trade receivables | 40 | €30,086 | €47,728 | +€17,642 | +58.6% |
| Other amounts receivable | 41 | €39,429 | €34,378 | -€5,050 | -12.8% |
| Cash at bank and in hand | 54/58 | €2,011 | €8,084 | +€6,073 | +302.0% |
| Deferred charges and accrued income | 490/1 | €705 | €84 | -€621 | -88.1% |
| Total equity and liabilities | 10/49 | €217,763 | €391,796 | +€174,033 | +79.9% |
| Equity | 10/15 | €37,101 | €203,862 | +€166,761 | +449.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | - | €164,788 | +€164,788 | |
| Reserves | 13 | €30,901 | €32,873 | +€1,972 | +6.4% |
| Distributable reserves | 133 | €30,901 | €32,873 | +€1,972 | +6.4% |
| Amounts payable | 17/49 | €180,662 | €187,934 | +€7,272 | +4.0% |
| Amounts payable within one year | 42/48 | €180,662 | €187,934 | +€7,272 | +4.0% |
| Trade debts | 44 | €331 | €569 | +€238 | +71.8% |
| Suppliers | 440/4 | €331 | €569 | +€238 | +71.8% |
| Taxes, remuneration and social security | 45 | €6,989 | €11,975 | +€4,986 | +71.3% |
| Taxes | 450/3 | €6,989 | €4,011 | -€2,979 | -42.6% |
| Remuneration and social security | 454/9 | - | €7,964 | +€7,964 | |
| Other amounts payable | 47/48 | €173,341 | €175,390 | +€2,049 | +1.2% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,467 | €10,800 | +€2,333 | +27.5% |
| Other operating charges | 640/8 | €2,554 | €917 | -€1,638 | -64.1% |
| Gross operating margin | 9900 | €14,157 | €14,379 | +€221 | +1.6% |
| Operating profit (loss) | 9901 | €3,135 | €2,662 | -€474 | -15.1% |
| Financial income | 75/76B | €333 | €368 | +€35 | +10.6% |
| Recurring financial income | 75 | €333 | €368 | +€35 | +10.6% |
| Financial charges | 65/66B | €6,183 | €106 | -€6,078 | -98.3% |
| Recurring financial charges | 65 | €6,183 | €106 | -€6,078 | -98.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,715 | €2,924 | +€5,639 | |
| Income taxes | 67/77 | €186 | €952 | +€766 | +412.8% |
| Profit (loss) for the period | 9904 | -€2,900 | €1,972 | +€4,873 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,900 | €1,972 | +€4,873 |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.