BLACKSTONE: 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.
BLACKSTONE
Largest movements
- Receivables within one year -€19,036
down €19,036 (-70.6%), from €26,948 to €7,913
- Cash -€1,302
down €1,302 (-18.3%), from €7,099 to €5,797
mainly Other debts (-€18,491) and Net result for the year (-€11,581)
- Tangible fixed assets -€1,230
down €1,230 (-9.9%), from €12,384 to €11,153
of which Land and buildings: -€1,516
- Other debts -€18,491
down €18,491 (-32.1%), from €57,627 to €39,136
- Profit (loss) carried forward -€11,581
down €11,581 (-24.9%), from -€46,443 to -€58,025
- Tax, wage and social debts +€9,015
up €9,015 (+31.7%), from €28,457 to €37,471
of which Remuneration and social security: +€9,773
- Trade debts -€510
down €510 (-10.6%), from €4,794 to €4,284
- Other operating charges +€12,403
up €12,403 (+1979.8%), from €627 to €13,030
- Gross operating margin +€5,825
up €5,825 (+126.4%), from €4,610 to €10,435
- Staff costs +€4,901
up €4,901 (+412.4%), from €1,188 to €6,089
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 | €50,634 | €29,065 | -€21,568 | -42.6% |
| Fixed assets | 21/28 | €16,584 | €15,353 | -€1,230 | -7.4% |
| Tangible fixed assets | 22/27 | €12,384 | €11,153 | -€1,230 | -9.9% |
| Land and buildings | 22 | €9,161 | €7,645 | -€1,516 | -16.6% |
| Furniture and vehicles | 24 | €3,223 | €3,509 | +€286 | +8.9% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €34,050 | €13,712 | -€20,338 | -59.7% |
| Amounts receivable within one year | 40/41 | €26,948 | €7,913 | -€19,036 | -70.6% |
| Trade receivables | 40 | €26,948 | €7,913 | -€19,036 | -70.6% |
| Current investments | 50/53 | €2 | €2 | -€0 | -13.4% |
| Cash at bank and in hand | 54/58 | €7,099 | €5,797 | -€1,302 | -18.3% |
| Total equity and liabilities | 10/49 | €50,634 | €29,065 | -€21,568 | -42.6% |
| Equity | 10/15 | -€40,243 | -€51,825 | -€11,581 | -28.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,443 | -€58,025 | -€11,581 | -24.9% |
| Amounts payable | 17/49 | €90,877 | €80,890 | -€9,987 | -11.0% |
| Amounts payable within one year | 42/48 | €90,877 | €80,890 | -€9,987 | -11.0% |
| Trade debts | 44 | €4,794 | €4,284 | -€510 | -10.6% |
| Suppliers | 440/4 | €4,794 | €4,284 | -€510 | -10.6% |
| Taxes, remuneration and social security | 45 | €28,457 | €37,471 | +€9,015 | +31.7% |
| Taxes | 450/3 | €17,605 | €16,846 | -€759 | -4.3% |
| Remuneration and social security | 454/9 | €10,852 | €20,625 | +€9,773 | +90.1% |
| Other amounts payable | 47/48 | €57,627 | €39,136 | -€18,491 | -32.1% |
| Remuneration, social security and pensions | 62 | €1,188 | €6,089 | +€4,901 | +412.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,465 | €2,517 | +€52 | +2.1% |
| Other operating charges | 640/8 | €627 | €13,030 | +€12,403 | +1979.8% |
| Gross operating margin | 9900 | €4,610 | €10,435 | +€5,825 | +126.4% |
| Operating profit (loss) | 9901 | €330 | -€11,200 | -€11,530 | |
| Financial income | 75/76B | €76 | - | -€76 | |
| Recurring financial income | 75 | €76 | - | -€76 | |
| Financial charges | 65/66B | €394 | €381 | -€13 | -3.3% |
| Recurring financial charges | 65 | €394 | €381 | -€13 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €12 | -€11,581 | -€11,593 | |
| Income taxes | 67/77 | €1 | - | -€1 | |
| Profit (loss) for the period | 9904 | €11 | -€11,581 | -€11,592 | |
| Profit (loss) for the period to be appropriated | 9905 | €11 | -€11,581 | -€11,592 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.