1Four11: what changed
Two fiscal 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.
1Four11
Largest movements
- Cash +€94,097
up €94,097 (+51.4%), from €182,907 to €277,004
mainly Net result for the year (+€90,324) and Investment in fixed assets (net) (+€23,339)
- Tangible fixed assets -€28,256
down €28,256 (-58.0%), from €48,757 to €20,501
of which Furniture and vehicles: -€26,369
- Financial fixed assets -€12,001
down €12,001 (-100.0%), from €12,001 to €0
- Stocks and contracts +€6,556
new in 2025: €6,556
- Current investments -€6,068
down €6,068 (-100.0%), from €6,068 to €0
- Reserves +€62,019
up €62,019 (+23.0%), from €269,272 to €331,291
- Financial income +€38,893
up €38,893 (+27615.0%), from €141 to €39,034
- Gross operating margin -€17,329
down €17,329 (-15.2%), from €113,835 to €96,506
- Taxes -€6,172
down €6,172 (-18.8%), from €32,847 to €26,675
- Depreciation -€4,173
down €4,173 (-19.8%), from €21,092 to €16,918
- Financial charges +€1,471
up €1,471, from -€1,393 to €78
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.
Cash bridge derived
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 | €292,072 | €353,240 | +€61,168 | +20.9% |
| Fixed assets | 21/28 | €60,758 | €20,501 | -€40,257 | -66.3% |
| Tangible fixed assets | 22/27 | €48,757 | €20,501 | -€28,256 | -58.0% |
| Land and buildings | 22 | €9,099 | €7,379 | -€1,719 | -18.9% |
| Plant, machinery and equipment | 23 | €380 | €212 | -€168 | -44.2% |
| Furniture and vehicles | 24 | €39,278 | €12,910 | -€26,369 | -67.1% |
| Financial fixed assets | 28 | €12,001 | €0 | -€12,001 | -100.0% |
| Current assets | 29/58 | €231,314 | €332,739 | +€101,425 | +43.8% |
| Stocks and contracts in progress | 3 | - | €6,556 | +€6,556 | |
| Stocks | 30/36 | - | €6,556 | +€6,556 | |
| Amounts receivable within one year | 40/41 | €39,105 | €44,573 | +€5,468 | +14.0% |
| Trade receivables | 40 | €20,085 | €25,402 | +€5,317 | +26.5% |
| Other amounts receivable | 41 | €19,020 | €19,171 | +€151 | +0.8% |
| Current investments | 50/53 | €6,068 | €0 | -€6,068 | -100.0% |
| Cash at bank and in hand | 54/58 | €182,907 | €277,004 | +€94,097 | +51.4% |
| Deferred charges and accrued income | 490/1 | €3,234 | €4,606 | +€1,372 | +42.4% |
| Total equity and liabilities | 10/49 | €292,072 | €353,240 | +€61,168 | +20.9% |
| Equity | 10/15 | €269,272 | €331,291 | +€62,019 | +23.0% |
| Reserves | 13 | €269,272 | €331,291 | +€62,019 | +23.0% |
| Distributable reserves | 133 | €269,272 | €331,291 | +€62,019 | +23.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €22,800 | €21,949 | -€851 | -3.7% |
| Amounts payable within one year | 42/48 | €22,800 | €21,949 | -€851 | -3.7% |
| Trade debts | 44 | €1,157 | €3,143 | +€1,986 | +171.6% |
| Suppliers | 440/4 | €1,157 | €3,143 | +€1,986 | +171.6% |
| Taxes, remuneration and social security | 45 | €21,643 | €18,806 | -€2,837 | -13.1% |
| Taxes | 450/3 | €21,643 | €18,806 | -€2,837 | -13.1% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €11,287 | +€11,287 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,092 | €16,918 | -€4,173 | -19.8% |
| Other operating charges | 640/8 | €1,157 | €1,544 | +€387 | +33.4% |
| Gross operating margin | 9900 | €113,835 | €96,506 | -€17,329 | -15.2% |
| Operating profit (loss) | 9901 | €91,587 | €78,044 | -€13,543 | -14.8% |
| Financial income | 75/76B | €141 | €39,034 | +€38,893 | +27615.0% |
| Recurring financial income | 75 | €141 | €39,034 | +€38,893 | +27615.0% |
| Financial charges | 65/66B | -€1,393 | €78 | +€1,471 | |
| Recurring financial charges | 65 | -€1,393 | €78 | +€1,471 | |
| Profit (loss) for the period before taxes | 9903 | €93,120 | €116,999 | +€23,879 | +25.6% |
| Income taxes | 67/77 | €32,847 | €26,675 | -€6,172 | -18.8% |
| Profit (loss) for the period | 9904 | €60,273 | €90,324 | +€30,051 | +49.9% |
| Profit (loss) for the period to be appropriated | 9905 | €60,273 | €90,324 | +€30,051 | +49.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.