4 FOR 4: 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 FOR 4
Largest movements
- Receivables within one year -€35,792
down €35,792 (-50.2%), from €71,249 to €35,457
of which Trade receivables: -€39,001
- Cash -€4,478
down €4,478 (-66.9%), from €6,696 to €2,218
mainly Trade debts (-€39,314) and Net result for the year (-€14,156)
- Trade debts -€39,314
down €39,314 (-93.7%), from €41,940 to €2,626
- Reserves -€14,156
down €14,156 (-47.5%), from €29,805 to €15,649
- Other debts +€13,200
new in 2025: €13,200
- Gross operating margin -€13,232
down €13,232 (-117%), from -€11,314 to -€24,546
- Financial charges -€9,626
down €9,626 (-97.2%), from €9,901 to €276
of which Financial charges: -€9,099
- Financial income +€943
up €943 (+8.4%), from €11,169 to €12,112
of which Non-recurring financial income: +€12,107
- Other operating charges +€320
up €320 (+28.4%), from €1,125 to €1,445
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 | €77,945 | €37,675 | -€40,270 | -51.7% |
| Current assets | 29/58 | €77,945 | €37,675 | -€40,270 | -51.7% |
| Amounts receivable within one year | 40/41 | €71,249 | €35,457 | -€35,792 | -50.2% |
| Trade receivables | 40 | €60,657 | €21,656 | -€39,001 | -64.3% |
| Other amounts receivable | 41 | €10,592 | €13,801 | +€3,209 | +30.3% |
| Cash at bank and in hand | 54/58 | €6,696 | €2,218 | -€4,478 | -66.9% |
| Total equity and liabilities | 10/49 | €77,945 | €37,675 | -€40,270 | -51.7% |
| Equity | 10/15 | €36,005 | €21,849 | -€14,156 | -39.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €29,805 | €15,649 | -€14,156 | -47.5% |
| Distributable reserves | 133 | €29,805 | €15,649 | -€14,156 | -47.5% |
| Amounts payable | 17/49 | €41,940 | €15,826 | -€26,114 | -62.3% |
| Amounts payable within one year | 42/48 | €41,940 | €15,826 | -€26,114 | -62.3% |
| Trade debts | 44 | €41,940 | €2,626 | -€39,314 | -93.7% |
| Suppliers | 440/4 | €41,940 | €2,626 | -€39,314 | -93.7% |
| Other amounts payable | 47/48 | - | €13,200 | +€13,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37 | - | -€37 | |
| Other operating charges | 640/8 | €1,125 | €1,445 | +€320 | +28.4% |
| Gross operating margin | 9900 | -€11,314 | -€24,546 | -€13,232 | -117% |
| Operating profit (loss) | 9901 | -€12,476 | -€25,991 | -€13,515 | -108% |
| Financial income | 75/76B | €11,169 | €12,112 | +€943 | +8.4% |
| Recurring financial income | 75 | €11,169 | €5 | -€11,164 | -100.0% |
| Non-recurring financial income | 76B | - | €12,107 | +€12,107 | |
| Financial charges | 65/66B | €9,901 | €276 | -€9,626 | -97.2% |
| Recurring financial charges | 65 | €9,375 | €276 | -€9,099 | -97.1% |
| Non-recurring financial charges | 66B | €526 | - | -€526 | |
| Profit (loss) for the period before taxes | 9903 | -€11,208 | -€14,155 | -€2,947 | -26.3% |
| Income taxes | 67/77 | - | €1 | +€1 | |
| Profit (loss) for the period | 9904 | -€11,208 | -€14,156 | -€2,948 | -26.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,208 | -€14,156 | -€2,948 | -26.3% |
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 13 October 2026 via checked.be.