FOUR FIVE (0659.699.671): annual accounts, directors and company register

FOUR FIVE

Uccle ·KBO/BCE: BE 0659.699.671

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Group	Expected	Actual
1	0.2%	0.2%
2	0.3%	0.5%
3	0.5%	0.6%
4	0.7%	0.8%
5	0.9%	0.9%
6	1.3%	1.5%
7	1.6%	1.8%
8	1.8%	1.8%
9	3.0%	3.1%
10	5.6%	6.2%

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017
Balance sheet: assets
Total assets`20/58`	530,221	527,903	528,749	546,185	544,109	539,923	611,219	617,283	617,257
Fixed assets`21/28`	405,458	409,823	415,820	420,725	426,539	435,445	444,670	454,342	462,930
Tangible fixed assets`22/27`	405,458	409,823	415,820	420,725	426,539	435,445	444,670	454,342	462,930
Other tangible fixed assets`26`	405,458	409,823	415,820	420,725	426,539	435,445	444,670	454,342	462,930
Current assets`29/58`	124,764	118,080	112,929	125,460	117,570	104,478	166,549	162,941	154,327
Amounts receivable within one year`40/41`	101,000	102,627	103,154	101,000	1,318	1,218	1,160	-	-
Trade receivables`40`	-	1,591	573	-	1,318	1,218	1,160	-	-
Other amounts receivable`41`	101,000	101,036	102,581	101,000	-	-	-	-	-
Cash at bank and in hand`54/58`	22,113	15,427	8,201	22,999	116,251	103,259	165,389	162,941	154,327
Deferred charges and accrued income`490/1`	1,651	26	1,574	1,462	-	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	530,221	527,903	528,749	546,185	544,109	539,923	611,219	617,283	617,257
Equity`10/15`	267,040	258,747	252,209	255,558	251,582	248,408	246,876	240,357	240,485
Contributions`10/11`	138,635	138,635	138,635	138,635	138,635	138,635	138,635	138,635	138,635
Issued capital`100`	-	-	-	-	-	138,635	138,635	138,635	138,635
Contributions outside capital`11`	-	-	-	-	138,635	-	-	-	-
Other`1109/19`	-	-	-	-	138,635	-	-	-	-
Reserves`13`	96,244	100,099	103,954	107,809	104,164	101,019	99,873	103,728	107,365
Non-distributable reserves`130/1`	-	-	-	13,179	13,179	13,179	13,179	-	-
Legal reserve`130`	-	-	-	-	-	13,179	13,179	13,179	12,961
Reserves not available under the articles`1311`	-	-	-	13,179	13,179	-	-	-	-
Tax-exempt reserves`132`	63,565	67,420	71,275	75,130	78,985	82,840	86,694	90,549	94,404
Distributable reserves`133`	32,679	32,679	32,679	19,500	12,000	5,000	-	-	-
Profit (loss) carried forward`14`	32,161	20,013	9,620	9,114	8,784	8,754	8,368	-2,006	-5,515
Provisions and deferred taxes`16`	24,021	25,640	27,259	28,878	30,498	32,117	33,736	35,355	36,975
Deferred taxes`168`	24,021	25,640	27,259	28,878	30,498	32,117	33,736	35,355	36,975
Amounts payable`17/49`	239,161	243,516	249,281	261,749	262,029	259,398	330,607	341,570	339,798
Amounts payable after more than one year`17`	180,000	180,000	180,000	-	1,390	-	-	-	75,000
Other amounts payable`178/9`	180,000	180,000	180,000	-	1,390	-	-	-	75,000
Amounts payable within one year`42/48`	58,268	63,234	69,078	261,749	260,639	259,398	330,607	341,570	262,910
Trade debts`44`	261	506	373	348	331	1,154	-	-	104
Suppliers`440/4`	261	506	373	348	331	1,154	-	-	104
Taxes, remuneration and social security`45`	8,155	4,331	3,078	5,933	4,535	4,425	5,152	2,175	2,175
Taxes`450/3`	8,155	4,331	3,078	5,933	4,535	4,425	5,152	2,175	2,175
Other amounts payable`47/48`	49,852	58,397	65,627	255,469	255,773	253,819	325,454	339,395	260,631
Accrued charges and deferred income`492/3`	893	282	202	-	-	-	-	-	1,888
Income statement
Gross operating margin`9900`	32,135	33,255	15,963	27,207	27,302	26,611	28,274	34,271	35,827
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	6,011	5,997	5,905	10,044	8,906	9,224	9,672	8,588	12,187
Other operating charges`640/8`	4,491	4,396	4,446	3,827	3,341	3,316	3,269	3,204	-
Operating profit (loss)`9901`	21,633	22,862	5,612	13,336	15,055	14,070	15,333	22,479	23,640
Financial charges`65/66B`	10,875	14,480	10,411	7,064	10,283	11,626	7,533	23,587	34,629
Recurring financial charges`65`	10,875	14,480	10,411	7,064	10,283	11,626	7,533	23,587	34,629
Profit (loss) for the period before taxes`9903`	10,758	8,382	-4,799	6,272	4,772	2,444	7,800	-1,107	-10,989
Transfer from deferred taxes`780`	1,619	1,619	1,619	1,619	1,619	-	-	-	-
Income taxes`67/77`	4,084	3,464	169	3,916	3,217	2,531	2,900	-	-
Profit (loss) for the period`9904`	8,293	6,538	-3,349	3,976	3,175	1,532	6,519	512	-9,128
Transfer from tax-exempt reserves`789`	3,855	3,855	3,855	3,855	3,855	3,855	3,855	3,855	3,613
Profit (loss) for the period to be appropriated`9905`	12,148	10,392	506	7,831	7,029	5,387	10,374	4,367	-5,515
Appropriation of the result
Profit (loss) to be appropriated`9906`	32,161	20,013	9,620	16,614	15,784	13,754	8,368	-1,148	-5,515
Profit (loss) brought forward from the previous period`14P`	20,013	9,620	9,114	8,784	8,754	-	-	-	-
Transfer to equity`691/2`	-	-	-	7,500	7,000	5,000	-	218	-
To the legal reserve`6920`	-	-	-	-	-	-	-	218	-
To other reserves`6921`	-	-	-	7,500	7,000	5,000	-	-	-
Profit to be distributed`694/7`	-	-	-	-	-	-	-	640	-
Return on contributions (dividend)`694`	-	-	-	-	-	-	-	640	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	30-06-2026	2026-00246406	PDF
31-12-2024	micro format	25-07-2025	2025-00312192	PDF
31-12-2023	micro format	17-07-2024	2024-00267288	PDF
31-12-2022	micro format	14-07-2023	2023-00246929	PDF
31-12-2021	micro format	20-07-2022	2022-20206809	PDF
31-12-2020	micro format	01-09-2021	2021-65400046	PDF
31-12-2019	micro format	20-07-2021	2021-37800427	PDF
31-12-2018	micro format	23-07-2019	2019-36400363	PDF
31-12-2017	micro format	20-07-2018	2018-35900321	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017
EBITDA	27,644	28,859	11,517	23,380	23,961	23,294	25,005	31,068	35,827
Cash flow	14,304	12,535	2,557	14,020	12,081	10,756	16,191	9,101	3,059
Investment in fixed assets (approximation)	1,646	0	1,000	4,230	0	0	0	0	701,074
Change in cash	6,685	7,226	-14,798	-93,253	12,992	-62,130	2,448	8,614	-
Working capital	66,496	54,846	43,851	-136,289	-143,069	-154,921	-164,057	-178,629	-108,582
Solvency	50.4%	49.0%	47.7%	46.8%	46.2%	46.0%	40.4%	38.9%	39.0%
Current ratio	2.14	1.87	1.63	0.48	0.45	0.40	0.50	0.48	0.59
Debt to equity	0.90	0.94	0.99	1.02	1.04	1.04	1.34	1.42	1.41
ROE	3.1%	2.5%	-1.3%	1.6%	1.3%	0.6%	2.6%	0.2%	-3.8%
ROA	1.6%	1.2%	-0.6%	0.7%	0.6%	0.3%	1.1%	0.1%	-1.5%
Interest coverage	2.54	1.99	1.11	3.31	2.33	-	-	-	-

Item	2025	2024	2023	2022	2021
Tangible fixed assets	€1,646	-	€1,000	€4,230	-
Depreciation and write-downs of the year	€6,011	€5,997	€5,905	€10,044	€8,906

WHITE ALCES CONSULTING registered office since 01-12-2023 · founded in 2020	total assets €658,622 (2025) 0742.895.878
URBAN WAVES establishment since 03-01-2019 · founded in 2019	total assets €91,203 (2025) 0717.595.706
Brion, Olivier (sole trader) establishment since 01-04-2009	founded in 2009 0810.836.658

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