Your crypto and euros are stored in the separate assets of Stichting BLOX Custody and not on BLOX's balance sheet, which is why they remain protected.
Even if you use Earn, BLOX's bankruptcy will not affect your crypto and euros. In this case, you will have a claim against Coinmerce Earn for the amount of your loaned crypto, and your euros will remain stored in Stichting BLOX Custody. In principle, the bankruptcy of BLOX will therefore have no consequences for your euros or crypto in Stichting BLOX Custody or the crypto you have lent to Coinmerce Earn.