THE BLACK CAT: 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.
THE BLACK CAT
Largest movements
- Cash +€20,547
up €20,547 (+19.6%), from €104,820 to €125,367
mainly Net result for the year (+€36,401) and Depreciation (+€13,784)
- Tangible fixed assets -€13,784
down €13,784 (-25.1%), from €54,839 to €41,056
- Receivables within one year +€4,526
up €4,526 (+80.2%), from €5,646 to €10,172
- Profit (loss) carried forward +€36,401
up €36,401 (+28.3%), from €128,693 to €165,094
- Debts after one year -€16,001
down €16,001 (-43.4%), from €36,850 to €20,849
- Tax, wage and social debts -€5,732
down €5,732 (-71.4%), from €8,032 to €2,300
- Gross operating margin -€17,528
down €17,528 (-21.5%), from €81,506 to €63,979
- Taxes -€3,880
down €3,880 (-27.0%), from €14,354 to €10,474
- Depreciation +€1,982
up €1,982 (+16.8%), from €11,801 to €13,784
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 | €193,505 | €206,262 | +€12,757 | +6.6% |
| Fixed assets | 21/28 | €54,839 | €41,056 | -€13,784 | -25.1% |
| Tangible fixed assets | 22/27 | €54,839 | €41,056 | -€13,784 | -25.1% |
| Furniture and vehicles | 24 | €54,839 | €41,056 | -€13,784 | -25.1% |
| Current assets | 29/58 | €138,666 | €165,206 | +€26,540 | +19.1% |
| Amounts receivable within one year | 40/41 | €5,646 | €10,172 | +€4,526 | +80.2% |
| Other amounts receivable | 41 | €5,646 | €10,172 | +€4,526 | +80.2% |
| Cash at bank and in hand | 54/58 | €104,820 | €125,367 | +€20,547 | +19.6% |
| Deferred charges and accrued income | 490/1 | €28,200 | €29,667 | +€1,467 | +5.2% |
| Total equity and liabilities | 10/49 | €193,505 | €206,262 | +€12,757 | +6.6% |
| Equity | 10/15 | €129,693 | €166,094 | +€36,401 | +28.1% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,693 | €165,094 | +€36,401 | +28.3% |
| Amounts payable | 17/49 | €63,813 | €40,168 | -€23,644 | -37.1% |
| Amounts payable after more than one year | 17 | €36,850 | €20,849 | -€16,001 | -43.4% |
| Financial debts | 170/4 | €36,850 | €20,849 | -€16,001 | -43.4% |
| Amounts payable within one year | 42/48 | €26,963 | €19,320 | -€7,643 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €15,422 | €16,001 | +€579 | +3.8% |
| Trade debts | 44 | €2,253 | €260 | -€1,993 | -88.5% |
| Suppliers | 440/4 | €2,253 | €260 | -€1,993 | -88.5% |
| Taxes, remuneration and social security | 45 | €8,032 | €2,300 | -€5,732 | -71.4% |
| Taxes | 450/3 | €8,032 | €2,300 | -€5,732 | -71.4% |
| Other amounts payable | 47/48 | €1,255 | €759 | -€496 | -39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,801 | €13,784 | +€1,982 | +16.8% |
| Other operating charges | 640/8 | €1,629 | €1,409 | -€219 | -13.5% |
| Gross operating margin | 9900 | €81,506 | €63,979 | -€17,528 | -21.5% |
| Operating profit (loss) | 9901 | €68,077 | €48,786 | -€19,291 | -28.3% |
| Financial charges | 65/66B | €1,747 | €1,911 | +€164 | +9.4% |
| Recurring financial charges | 65 | €1,747 | €1,911 | +€164 | +9.4% |
| Profit (loss) for the period before taxes | 9903 | €66,329 | €46,875 | -€19,454 | -29.3% |
| Income taxes | 67/77 | €14,354 | €10,474 | -€3,880 | -27.0% |
| Profit (loss) for the period | 9904 | €51,975 | €36,401 | -€15,574 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,975 | €36,401 | -€15,574 | -30.0% |
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 29 October 2026 via checked.be.