BlackWaterFoot: 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.
BlackWaterFoot
Largest movements
- Current investments +€148,677
up €148,677 (+45.7%), from €325,000 to €473,677
- Tangible fixed assets -€93,675
no longer reported in 2025 (was €93,675)
of which Land and buildings: -€90,576
- Cash +€30,931
up €30,931 (+76.3%), from €40,545 to €71,476
mainly Investment in fixed assets (net) (+€87,575) and Net result for the year (+€81,890)
- Receivables within one year +€5,897
up €5,897 (+2,666%), from €221 to €6,118
of which Trade receivables: +€2,962
- Profit (loss) carried forward +€54,552
up €54,552, from -€54,552 to €0
- Reserves +€27,339
up €27,339 (+8.2%), from €332,593 to €359,932
of which Distributable reserves: +€25,972
- Tax, wage and social debts +€7,137
new in 2025: €7,137
- Gross operating margin +€153,492
up €153,492, from -€56,563 to €96,929
- Purchases and services -€39,544
down €39,544 (-53.8%), from €73,556 to €34,012
- Financial income -€9,338
down €9,338 (-53.9%), from €17,321 to €7,983
- Taxes +€7,686
up €7,686 (+201%), from €3,828 to €11,514
- Turnover -€4,396
down €4,396 (-25.9%), from €16,992 to €12,596
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.
Derived cash bridge
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 | €465,001 | €553,838 | +€88,837 | +19.1% |
| Fixed assets | 21/28 | €93,685 | €10 | -€93,675 | -100.0% |
| Tangible fixed assets | 22/27 | €93,675 | - | -€93,675 | |
| Land and buildings | 22 | €90,576 | - | -€90,576 | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €2,972 | - | -€2,972 | |
| Other tangible fixed assets | 26 | €127 | - | -€127 | |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €371,316 | €553,828 | +€182,512 | +49.2% |
| Amounts receivable within one year | 40/41 | €221 | €6,118 | +€5,897 | +2,666% |
| Trade receivables | 40 | - | €2,962 | +€2,962 | |
| Other amounts receivable | 41 | €221 | €3,156 | +€2,935 | +1,327% |
| Current investments | 50/53 | €325,000 | €473,677 | +€148,677 | +45.7% |
| Cash at bank and in hand | 54/58 | €40,545 | €71,476 | +€30,931 | +76.3% |
| Deferred charges and accrued income | 490/1 | €5,550 | €2,556 | -€2,994 | -53.9% |
| Total equity and liabilities | 10/49 | €465,001 | €553,838 | +€88,837 | +19.1% |
| Equity | 10/15 | €464,542 | €546,432 | +€81,890 | +17.6% |
| Contributions | 10/11 | €186,500 | €186,500 | = | 0.0% |
| Capital | 10 | €186,500 | €186,500 | = | 0.0% |
| Issued capital | 100 | €186,500 | €186,500 | = | 0.0% |
| Reserves | 13 | €332,593 | €359,932 | +€27,339 | +8.2% |
| Non-distributable reserves | 130/1 | €15,207 | €16,574 | +€1,367 | +9.0% |
| Legal reserve | 130 | €15,207 | €16,574 | +€1,367 | +9.0% |
| Distributable reserves | 133 | €317,387 | €343,358 | +€25,972 | +8.2% |
| Profit (loss) carried forward | 14 | -€54,552 | €0 | +€54,552 | |
| Amounts payable | 17/49 | €459 | €7,406 | +€6,947 | +1,512% |
| Amounts payable within one year | 42/48 | €274 | €7,372 | +€7,098 | +2,586% |
| Trade debts | 44 | €274 | €235 | -€39 | -14.3% |
| Suppliers | 440/4 | €274 | €235 | -€39 | -14.3% |
| Taxes, remuneration and social security | 45 | - | €7,137 | +€7,137 | |
| Taxes | 450/3 | - | €7,137 | +€7,137 | |
| Accrued charges and deferred income | 492/3 | €185 | €34 | -€151 | -81.6% |
| Turnover | 70 | €16,992 | €12,596 | -€4,396 | -25.9% |
| Non-recurring operating income | 76A | - | €118,345 | +€118,345 | |
| Goods, raw materials, services and sundry goods | 60/61 | €73,556 | €34,012 | -€39,544 | -53.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,192 | €6,100 | -€2,091 | -25.5% |
| Other operating charges | 640/8 | €1,270 | €1,090 | -€179 | -14.1% |
| Gross operating margin | 9900 | -€56,563 | €96,929 | +€153,492 | |
| Operating profit (loss) | 9901 | -€66,025 | €89,738 | +€155,763 | |
| Financial income | 75/76B | €17,321 | €7,983 | -€9,338 | -53.9% |
| Recurring financial income | 75 | €17,321 | €7,983 | -€9,338 | -53.9% |
| Financial charges | 65/66B | €2,020 | €4,317 | +€2,297 | +114% |
| Recurring financial charges | 65 | €2,020 | €4,317 | +€2,297 | +114% |
| Profit (loss) for the period before taxes | 9903 | -€50,724 | €93,404 | +€144,128 | |
| Income taxes | 67/77 | €3,828 | €11,514 | +€7,686 | +201% |
| Profit (loss) for the period | 9904 | -€54,552 | €81,890 | +€136,442 | |
| Profit (loss) for the period to be appropriated | 9905 | -€54,552 | €81,890 | +€136,442 |
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 26 October 2026 via checked.be.