4 A +: 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.
What changed
4 A +
NACE 46.190, Agents in non-specialised wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€328,744
2024 · €465,871-€137,128
Equity
€5.9m
2024 · €5.6m+€328,744
Cash
€10,634
2024 · €24,815-€14,181
Balance sheet total
€6.8m
2024 · €7.7m-€852,285
Largest movements
Assets
- Receivables within one year -€784,205
down €784,205 (-24.6%), from €3.2m to €2.4m
of which Other amounts receivable: -€717,675
Equity and liabilities
- Other debts -€957,441
down €957,441 (-74.2%), from €1.3m to €333,771
- Reserves +€328,744
up €328,744 (+29.1%), from €1.1m to €1.5m
of which Distributable reserves: +€210,864
- Provisions -€155,736
no longer reported in 2025 (was €155,736)
Income statement
- Gross operating margin -€212,865
down €212,865 (-21.8%), from €974,754 to €761,890
- Taxes -€64,610
down €64,610 (-32.1%), from €201,511 to €136,901
- Financial income -€29,838
down €29,838 (-88.8%), from €33,617 to €3,778
of which Non-recurring financial income: -€33,614
- Staff costs -€23,652
down €23,652 (-9.9%), from €237,743 to €214,091
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.
Result 2024
€465,871
Gross operating margin
-€212,865
Staff costs
+€23,652
Depreciation
-€954
Other operating charges
+€8,981
Financial income
-€29,838
Financial charges
+€9,286
Taxes
+€64,610
Result 2025
€328,744
raises the resultlowers the result
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.
From operations
+€21,133
Investment
-€100
Financing
-€35,214
Cash 2024
€24,815
From operations (derived)
+€21,133
Net result for the year
+€328,744
Depreciation
+€51,185
Receivables within one year
+€784,205
Deferred charges and accrued income
+€2,815
Provisions
-€155,736
Trade debts
-€24,119
Tax, wage and social debts
-€39,322
Other debts
-€957,441
Accrued charges and deferred income
+€30,803
Investment (derived)
-€100
Investment in fixed assets (net)
-€100
Financing
-€35,214
Debts after one year
-€36,343
Current portion of long-term debt
-€707
Short-term financial debts
+€1,835
Cash 2025
€10,634
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,659,730 | €6,807,445 | -€852,285 | -11.1% |
| Fixed assets | 21/28 | €4,189,045 | €4,137,960 | -€51,085 | -1.2% |
| Tangible fixed assets | 22/27 | €627,218 | €576,133 | -€51,085 | -8.1% |
| Land and buildings | 22 | €627,218 | €576,133 | -€51,085 | -8.1% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Financial fixed assets | 28 | €3,561,827 | €3,561,827 | = | 0.0% |
| Current assets | 29/58 | €3,470,686 | €2,669,485 | -€801,201 | -23.1% |
| Stocks and contracts in progress | 3 | €255,000 | €255,000 | = | 0.0% |
| Stocks | 30/36 | €255,000 | €255,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,182,608 | €2,398,403 | -€784,205 | -24.6% |
| Trade receivables | 40 | €408,270 | €341,741 | -€66,530 | -16.3% |
| Other amounts receivable | 41 | €2,774,337 | €2,056,662 | -€717,675 | -25.9% |
| Cash at bank and in hand | 54/58 | €24,815 | €10,634 | -€14,181 | -57.1% |
| Deferred charges and accrued income | 490/1 | €8,263 | €5,447 | -€2,815 | -34.1% |
| Total equity and liabilities | 10/49 | €7,659,730 | €6,807,445 | -€852,285 | -11.1% |
| Equity | 10/15 | €5,578,538 | €5,907,282 | +€328,744 | +5.9% |
| Contributions | 10/11 | €2,964,800 | €2,964,800 | = | 0.0% |
| Reserves | 13 | €1,128,053 | €1,456,797 | +€328,744 | +29.1% |
| Non-distributable reserves | 130/1 | €95,031 | €95,031 | = | 0.0% |
| Reserves not available under the articles | 1311 | €95,031 | €95,031 | = | 0.0% |
| Tax-exempt reserves | 132 | €362,060 | €479,940 | +€117,880 | +32.6% |
| Distributable reserves | 133 | €670,962 | €881,826 | +€210,864 | +31.4% |
| Profit (loss) carried forward | 14 | €1,485,685 | €1,485,685 | = | 0.0% |
| Provisions and deferred taxes | 16 | €155,736 | - | -€155,736 | |
| Provisions for liabilities and charges | 160/5 | €155,736 | - | -€155,736 | |
| Pensions and similar obligations | 160 | €155,736 | - | -€155,736 | |
| Amounts payable | 17/49 | €1,925,456 | €900,163 | -€1.0m | -53.2% |
| Amounts payable after more than one year | 17 | €364,404 | €328,061 | -€36,343 | -10.0% |
| Financial debts | 170/4 | €340,178 | €300,055 | -€40,123 | -11.8% |
| Other amounts payable | 178/9 | €24,226 | €28,006 | +€3,780 | +15.6% |
| Amounts payable within one year | 42/48 | €1,555,468 | €535,715 | -€1.0m | -65.6% |
| Current portion of amounts payable after more than one year | 42 | €40,830 | €40,123 | -€707 | -1.7% |
| Financial debts | 43 | €12,020 | €13,856 | +€1,835 | +15.3% |
| Credit institutions | 430/8 | €12,020 | €13,856 | +€1,835 | +15.3% |
| Trade debts | 44 | €59,940 | €35,821 | -€24,119 | -40.2% |
| Suppliers | 440/4 | €59,940 | €35,821 | -€24,119 | -40.2% |
| Taxes, remuneration and social security | 45 | €151,467 | €112,145 | -€39,322 | -26.0% |
| Taxes | 450/3 | €77,363 | €77,055 | -€308 | -0.4% |
| Remuneration and social security | 454/9 | €74,104 | €35,090 | -€39,014 | -52.6% |
| Other amounts payable | 47/48 | €1,291,212 | €333,771 | -€957,441 | -74.2% |
| Accrued charges and deferred income | 492/3 | €5,584 | €36,386 | +€30,803 | +552% |
| Non-recurring operating income | 76A | €914 | - | -€914 | |
| Remuneration, social security and pensions | 62 | €237,743 | €214,091 | -€23,652 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,231 | €51,185 | +€954 | +1.9% |
| Other operating charges | 640/8 | €23,340 | €14,358 | -€8,981 | -38.5% |
| Gross operating margin | 9900 | €974,754 | €761,890 | -€212,865 | -21.8% |
| Operating profit (loss) | 9901 | €663,441 | €482,256 | -€181,185 | -27.3% |
| Financial income | 75/76B | €33,617 | €3,778 | -€29,838 | -88.8% |
| Recurring financial income | 75 | €3 | €3,778 | +€3,776 | +151,030% |
| Non-recurring financial income | 76B | €33,614 | - | -€33,614 | |
| Financial charges | 65/66B | €29,675 | €20,389 | -€9,286 | -31.3% |
| Recurring financial charges | 65 | €29,675 | €20,389 | -€9,286 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €667,382 | €465,645 | -€201,737 | -30.2% |
| Income taxes | 67/77 | €201,511 | €136,901 | -€64,610 | -32.1% |
| Profit (loss) for the period | 9904 | €465,871 | €328,744 | -€137,128 | -29.4% |
| Transfer to tax-exempt reserves | 689 | €117,880 | €117,880 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €347,991 | €210,864 | -€137,128 | -39.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.