4 EACH: 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.
4 EACH
Largest movements
- Receivables within one year -€74,679
down €74,679 (-49.4%), from €151,139 to €76,460
of which Trade receivables: -€62,085
- Receivables after one year -€34,624
down €34,624 (-22.5%), from €154,057 to €119,433
- Deferred charges and accrued income -€7,773
down €7,773 (-9.2%), from €84,356 to €76,584
- Trade debts -€67,788
down €67,788 (-98.8%), from €68,594 to €805
- Reserves -€45,212
down €45,212 (-15.6%), from €289,492 to €244,280
of which Distributable reserves: -€45,212
- Tax, wage and social debts -€17,232
down €17,232 (-45.1%), from €38,214 to €20,982
- Accrued charges and deferred income +€10,766
up €10,766 (+2663.1%), from €404 to €11,170
- Financial charges +€1,362
up €1,362 (+30.1%), from €4,533 to €5,895
- Gross operating margin -€1,222
down €1,222 (-2.3%), from €52,907 to €51,685
- Taxes -€909
down €909 (-6.9%), from €13,077 to €12,168
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 | €412,728 | €293,224 | -€119,504 | -29.0% |
| Fixed assets | 21/28 | €23,176 | €20,747 | -€2,429 | -10.5% |
| Tangible fixed assets | 22/27 | €23,176 | €20,747 | -€2,429 | -10.5% |
| Land and buildings | 22 | €22,438 | €20,747 | -€1,691 | -7.5% |
| Furniture and vehicles | 24 | €738 | - | -€738 | |
| Current assets | 29/58 | €389,552 | €272,477 | -€117,076 | -30.1% |
| Amounts receivable after more than one year | 29 | €154,057 | €119,433 | -€34,624 | -22.5% |
| Other amounts receivable | 291 | €154,057 | €119,433 | -€34,624 | -22.5% |
| Amounts receivable within one year | 40/41 | €151,139 | €76,460 | -€74,679 | -49.4% |
| Trade receivables | 40 | €133,713 | €71,629 | -€62,085 | -46.4% |
| Other amounts receivable | 41 | €17,425 | €4,832 | -€12,594 | -72.3% |
| Cash at bank and in hand | 54/58 | €0 | - | -€0 | |
| Deferred charges and accrued income | 490/1 | €84,356 | €76,584 | -€7,773 | -9.2% |
| Total equity and liabilities | 10/49 | €412,728 | €293,224 | -€119,504 | -29.0% |
| Equity | 10/15 | €295,697 | €250,485 | -€45,212 | -15.3% |
| Contributions | 10/11 | €6,205 | €6,205 | = | 0.0% |
| Reserves | 13 | €289,492 | €244,280 | -€45,212 | -15.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €287,632 | €242,420 | -€45,212 | -15.7% |
| Amounts payable | 17/49 | €117,031 | €42,739 | -€74,293 | -63.5% |
| Amounts payable within one year | 42/48 | €116,627 | €31,569 | -€85,058 | -72.9% |
| Financial debts | 43 | €9,819 | €8,374 | -€1,445 | -14.7% |
| Credit institutions | 430/8 | €9,819 | €8,374 | -€1,445 | -14.7% |
| Trade debts | 44 | €68,594 | €805 | -€67,788 | -98.8% |
| Suppliers | 440/4 | €68,594 | €805 | -€67,788 | -98.8% |
| Taxes, remuneration and social security | 45 | €38,214 | €20,982 | -€17,232 | -45.1% |
| Taxes | 450/3 | €38,214 | €20,982 | -€17,232 | -45.1% |
| Other amounts payable | 47/48 | - | €1,407 | +€1,407 | |
| Accrued charges and deferred income | 492/3 | €404 | €11,170 | +€10,766 | +2663.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,429 | €2,429 | +€0 | 0.0% |
| Other operating charges | 640/8 | €672 | €914 | +€242 | +36.0% |
| Gross operating margin | 9900 | €52,907 | €51,685 | -€1,222 | -2.3% |
| Operating profit (loss) | 9901 | €49,806 | €48,342 | -€1,464 | -2.9% |
| Financial income | 75/76B | €4 | €28 | +€24 | +553.2% |
| Recurring financial income | 75 | €4 | €28 | +€24 | +553.2% |
| Financial charges | 65/66B | €4,533 | €5,895 | +€1,362 | +30.1% |
| Recurring financial charges | 65 | €4,533 | €5,895 | +€1,362 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | €45,278 | €42,475 | -€2,803 | -6.2% |
| Income taxes | 67/77 | €13,077 | €12,168 | -€909 | -6.9% |
| Profit (loss) for the period | 9904 | €32,201 | €30,306 | -€1,895 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | €32,201 | €30,306 | -€1,895 | -5.9% |
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 11 October 2026 via checked.be.