4 EUROPE: 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 EUROPE
Largest movements
- Cash -€8,351
down €8,351 (-75.8%), from €11,011 to €2,660
mainly Net result for the year (-€14,578) and Investment in fixed assets (net) (-€3,632)
- Receivables within one year -€7,097
down €7,097 (-21.3%), from €33,390 to €26,292
of which Trade receivables: -€10,684
- Tangible fixed assets +€2,739
up €2,739 (+27,560%), from €10 to €2,749
of which Furniture and vehicles: +€2,749
- Profit (loss) carried forward -€14,578
down €14,578 (-136%), from -€10,683 to -€25,262
- Trade debts +€2,682
up €2,682 (+87.7%), from €3,059 to €5,741
- Tax, wage and social debts -€1,994
down €1,994 (-63.1%), from €3,160 to €1,166
- Short-term financial debts +€1,181
up €1,181 (+14.9%), from €7,954 to €9,136
- Gross operating margin -€49,933
down €49,933, from €38,951 to -€10,981
- Other operating charges +€1,217
up €1,217 (+222%), from €548 to €1,765
- Financial charges -€831
down €831 (-33.3%), from €2,500 to €1,669
- Taxes +€558
up €558, from €0 to €558
- Financial income +€494
up €494 (+62.3%), from €793 to €1,287
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €44,411 | €31,701 | -€12,709 | -28.6% |
| Fixed assets | 21/28 | €10 | €2,749 | +€2,739 | +27,560% |
| Tangible fixed assets | 22/27 | €10 | €2,749 | +€2,739 | +27,560% |
| Plant, machinery and equipment | 23 | €10 | €0 | -€10 | -100% |
| Furniture and vehicles | 24 | €0 | €2,749 | +€2,749 | |
| Current assets | 29/58 | €44,401 | €28,952 | -€15,449 | -34.8% |
| Amounts receivable within one year | 40/41 | €33,390 | €26,292 | -€7,097 | -21.3% |
| Trade receivables | 40 | €11,904 | €1,220 | -€10,684 | -89.8% |
| Other amounts receivable | 41 | €21,486 | €25,073 | +€3,587 | +16.7% |
| Cash at bank and in hand | 54/58 | €11,011 | €2,660 | -€8,351 | -75.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €44,411 | €31,701 | -€12,709 | -28.6% |
| Equity | 10/15 | €30,237 | €15,658 | -€14,578 | -48.2% |
| Contributions | 10/11 | €37,200 | €37,200 | = | 0.0% |
| Reserves | 13 | €3,720 | €3,720 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,720 | €3,720 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,720 | €3,720 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,683 | -€25,262 | -€14,578 | -136% |
| Amounts payable | 17/49 | €14,174 | €16,043 | +€1,869 | +13.2% |
| Amounts payable within one year | 42/48 | €14,174 | €16,043 | +€1,869 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €7,954 | €9,136 | +€1,181 | +14.9% |
| Credit institutions | 430/8 | €7,954 | €9,136 | +€1,181 | +14.9% |
| Trade debts | 44 | €3,059 | €5,741 | +€2,682 | +87.7% |
| Suppliers | 440/4 | €3,059 | €5,741 | +€2,682 | +87.7% |
| Taxes, remuneration and social security | 45 | €3,160 | €1,166 | -€1,994 | -63.1% |
| Taxes | 450/3 | €3,160 | €1,166 | -€1,994 | -63.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €585 | €893 | +€308 | +52.6% |
| Other operating charges | 640/8 | €548 | €1,765 | +€1,217 | +222% |
| Gross operating margin | 9900 | €38,951 | -€10,981 | -€49,933 | |
| Operating profit (loss) | 9901 | €37,818 | -€13,639 | -€51,457 | |
| Financial income | 75/76B | €793 | €1,287 | +€494 | +62.3% |
| Recurring financial income | 75 | €793 | €1,287 | +€494 | +62.3% |
| Financial charges | 65/66B | €2,500 | €1,669 | -€831 | -33.3% |
| Recurring financial charges | 65 | €2,500 | €1,669 | -€831 | -33.3% |
| Profit (loss) for the period before taxes | 9903 | €36,112 | -€14,020 | -€50,132 | |
| Income taxes | 67/77 | €0 | €558 | +€558 | |
| Profit (loss) for the period | 9904 | €36,112 | -€14,578 | -€50,690 | |
| Profit (loss) for the period to be appropriated | 9905 | €36,112 | -€14,578 | -€50,690 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.