Blackstream: 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.
Blackstream
Largest movements
- Cash -€91,764
down €91,764 (-39.2%), from €233,924 to €142,160
mainly Net result for the year (-€182,975) and Investment in fixed assets (net) (-€21,577)
- Tangible fixed assets -€54,983
down €54,983 (-13.2%), from €416,365 to €361,383
of which Leasing and similar rights: -€41,938
- Receivables within one year -€24,027
down €24,027 (-16.1%), from €149,265 to €125,238
of which Other amounts receivable: -€17,170
- Stocks and contracts +€9,172
up €9,172 (+25.7%), from €35,629 to €44,801
- Profit (loss) carried forward -€182,975
down €182,975 (-49.2%), from €371,638 to €188,663
- Staff costs +€129,504
up €129,504 (+22.5%), from €574,722 to €704,225
- Gross operating margin +€46,611
up €46,611 (+8.0%), from €584,225 to €630,837
- Other operating charges +€23,010
up €23,010 (+1,242%), from €1,853 to €24,863
- Depreciation +€22,667
up €22,667 (+42.1%), from €53,893 to €76,560
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 | €849,081 | €685,222 | -€163,859 | -19.3% |
| Fixed assets | 21/28 | €416,365 | €361,383 | -€54,983 | -13.2% |
| Tangible fixed assets | 22/27 | €416,365 | €361,383 | -€54,983 | -13.2% |
| Plant, machinery and equipment | 23 | €277,938 | €252,426 | -€25,512 | -9.2% |
| Furniture and vehicles | 24 | €44,330 | €56,798 | +€12,467 | +28.1% |
| Leasing and similar rights | 25 | €94,096 | €52,159 | -€41,938 | -44.6% |
| Current assets | 29/58 | €432,715 | €323,839 | -€108,876 | -25.2% |
| Stocks and contracts in progress | 3 | €35,629 | €44,801 | +€9,172 | +25.7% |
| Stocks | 30/36 | €35,629 | €44,801 | +€9,172 | +25.7% |
| Amounts receivable within one year | 40/41 | €149,265 | €125,238 | -€24,027 | -16.1% |
| Trade receivables | 40 | €126,958 | €120,101 | -€6,857 | -5.4% |
| Other amounts receivable | 41 | €22,308 | €5,137 | -€17,170 | -77.0% |
| Cash at bank and in hand | 54/58 | €233,924 | €142,160 | -€91,764 | -39.2% |
| Deferred charges and accrued income | 490/1 | €13,896 | €11,639 | -€2,257 | -16.2% |
| Total equity and liabilities | 10/49 | €849,081 | €685,222 | -€163,859 | -19.3% |
| Equity | 10/15 | €415,638 | €232,663 | -€182,975 | -44.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €4,000 | €4,000 | = | 0.0% |
| Distributable reserves | 133 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €371,638 | €188,663 | -€182,975 | -49.2% |
| Amounts payable | 17/49 | €433,443 | €452,559 | +€19,116 | +4.4% |
| Amounts payable after more than one year | 17 | €237,209 | €244,154 | +€6,946 | +2.9% |
| Financial debts | 170/4 | €52,784 | €59,729 | +€6,946 | +13.2% |
| Other amounts payable | 178/9 | €184,425 | €184,425 | = | 0.0% |
| Amounts payable within one year | 42/48 | €196,234 | €208,404 | +€12,170 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €30,575 | €36,146 | +€5,571 | +18.2% |
| Trade debts | 44 | €83,293 | €85,468 | +€2,174 | +2.6% |
| Suppliers | 440/4 | €83,293 | €85,468 | +€2,174 | +2.6% |
| Taxes, remuneration and social security | 45 | €80,404 | €84,829 | +€4,425 | +5.5% |
| Taxes | 450/3 | €8,416 | €771 | -€7,646 | -90.8% |
| Remuneration and social security | 454/9 | €71,988 | €84,059 | +€12,071 | +16.8% |
| Other amounts payable | 47/48 | €1,961 | €1,961 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €574,722 | €704,225 | +€129,504 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,893 | €76,560 | +€22,667 | +42.1% |
| Other operating charges | 640/8 | €1,853 | €24,863 | +€23,010 | +1,242% |
| Gross operating margin | 9900 | €584,225 | €630,837 | +€46,611 | +8.0% |
| Operating profit (loss) | 9901 | -€46,243 | -€174,812 | -€128,569 | -278% |
| Financial income | 75/76B | €195 | €1,097 | +€902 | +462% |
| Recurring financial income | 75 | €195 | €1,097 | +€902 | +462% |
| Financial charges | 65/66B | €6,960 | €9,260 | +€2,300 | +33.1% |
| Recurring financial charges | 65 | €6,960 | €9,260 | +€2,300 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | -€53,007 | -€182,975 | -€129,968 | -245% |
| Income taxes | 67/77 | €15 | - | -€15 | |
| Profit (loss) for the period | 9904 | -€53,022 | -€182,975 | -€129,953 | -245% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,022 | -€182,975 | -€129,953 | -245% |
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.