BLK CAPITAL: 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.
BLK CAPITAL
Largest movements
- Cash +€19,852
up €19,852 (+550%), from €3,607 to €23,459
- Receivables within one year +€3,247
up €3,247 (+88.0%), from €3,689 to €6,936
of which Other amounts receivable: +€3,588
- Tangible fixed assets -€820
down €820 (-24.5%), from €3,352 to €2,532
of which Plant, machinery and equipment: -€457
- Profit (loss) carried forward +€10,425
up €10,425 (+888%), from €1,174 to €11,599
- Tax, wage and social debts +€8,647
up €8,647 (+645%), from €1,340 to €9,988
of which Taxes: +€8,626
- Other debts +€8,039
up €8,039 (+2,663%), from €302 to €8,341
- Trade debts -€4,849
no longer reported in 2025 (was €4,849)
- Gross operating margin +€18,383
up €18,383 (+410%), from €4,486 to €22,869
- Staff costs +€7,316
new in 2025: €7,316
- Taxes +€2,460
up €2,460 (+242%), from €1,015 to €3,475
- Other operating charges +€787
new in 2025: €787
- Depreciation +€255
up €255 (+45.1%), from €565 to €820
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,665 | €32,928 | +€22,262 | +209% |
| Fixed assets | 21/28 | €3,352 | €2,532 | -€820 | -24.5% |
| Tangible fixed assets | 22/27 | €3,352 | €2,532 | -€820 | -24.5% |
| Plant, machinery and equipment | 23 | €1,644 | €1,187 | -€457 | -27.8% |
| Furniture and vehicles | 24 | €1,708 | €1,345 | -€363 | -21.3% |
| Current assets | 29/58 | €7,313 | €30,395 | +€23,082 | +316% |
| Amounts receivable within one year | 40/41 | €3,689 | €6,936 | +€3,247 | +88.0% |
| Trade receivables | 40 | €3,571 | €3,231 | -€340 | -9.5% |
| Other amounts receivable | 41 | €118 | €3,705 | +€3,588 | +3,051% |
| Cash at bank and in hand | 54/58 | €3,607 | €23,459 | +€19,852 | +550% |
| Deferred charges and accrued income | 490/1 | €17 | - | -€17 | |
| Total equity and liabilities | 10/49 | €10,665 | €32,928 | +€22,262 | +209% |
| Equity | 10/15 | €4,174 | €14,599 | +€10,425 | +250% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Capital | 10 | - | €3,000 | +€3,000 | |
| Issued capital | 100 | - | €3,000 | +€3,000 | |
| Profit (loss) carried forward | 14 | €1,174 | €11,599 | +€10,425 | +888% |
| Amounts payable | 17/49 | €6,491 | €18,328 | +€11,837 | +182% |
| Amounts payable within one year | 42/48 | €6,491 | €18,328 | +€11,837 | +182% |
| Trade debts | 44 | €4,849 | - | -€4,849 | |
| Suppliers | 440/4 | €4,849 | - | -€4,849 | |
| Taxes, remuneration and social security | 45 | €1,340 | €9,988 | +€8,647 | +645% |
| Taxes | 450/3 | €1,192 | €9,819 | +€8,626 | +723% |
| Remuneration and social security | 454/9 | €148 | €169 | +€21 | +14.2% |
| Other amounts payable | 47/48 | €302 | €8,341 | +€8,039 | +2,663% |
| Remuneration, social security and pensions | 62 | - | €7,316 | +€7,316 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €565 | €820 | +€255 | +45.1% |
| Other operating charges | 640/8 | - | €787 | +€787 | |
| Gross operating margin | 9900 | €4,486 | €22,869 | +€18,383 | +410% |
| Operating profit (loss) | 9901 | €3,920 | €13,945 | +€10,025 | +256% |
| Financial charges | 65/66B | €33 | €45 | +€12 | +35.4% |
| Recurring financial charges | 65 | €33 | €45 | +€12 | +35.4% |
| Profit (loss) for the period before taxes | 9903 | €3,887 | €13,900 | +€10,013 | +258% |
| Income taxes | 67/77 | €1,015 | €3,475 | +€2,460 | +242% |
| Profit (loss) for the period | 9904 | €2,872 | €10,425 | +€7,553 | +263% |
| Profit (loss) for the period to be appropriated | 9905 | €2,872 | €10,425 | +€7,553 | +263% |
Source: filed annual accounts (NBB), financial years ended 5 September 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.