4'IN: 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'IN
Largest movements
- Receivables within one year +€26,744
up €26,744 (+10.3%), from €260,177 to €286,922
of which Other amounts receivable: +€16,636
- Cash -€4,827
down €4,827 (-64.9%), from €7,441 to €2,614
mainly Receivables within one year (-€26,744) and Tax, wage and social debts (-€6,854)
- Trade debts +€16,694
up €16,694 (+43.7%), from €38,218 to €54,912
- Reserves +€13,000
up €13,000 (+18.9%), from €68,860 to €81,860
- Tax, wage and social debts -€6,854
down €6,854 (-15.0%), from €45,670 to €38,816
of which Taxes: -€15,625
- Short-term financial debts -€3,246
no longer reported in 2025 (was €3,246)
- Staff costs +€32,956
up €32,956 (+49.8%), from €66,113 to €99,068
- Gross operating margin +€23,315
up €23,315 (+24.2%), from €96,468 to €119,784
- Taxes -€2,903
down €2,903 (-30.4%), from €9,564 to €6,661
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 | €272,325 | €294,612 | +€22,287 | +8.2% |
| Fixed assets | 21/28 | €3,706 | €3,076 | -€630 | -17.0% |
| Tangible fixed assets | 22/27 | €3,706 | €3,076 | -€630 | -17.0% |
| Plant, machinery and equipment | 23 | €1,201 | - | -€1,201 | |
| Furniture and vehicles | 24 | €2,505 | €3,076 | +€570 | +22.8% |
| Current assets | 29/58 | €268,619 | €291,536 | +€22,918 | +8.5% |
| Stocks and contracts in progress | 3 | €1,000 | €2,000 | +€1,000 | +100.0% |
| Stocks | 30/36 | €1,000 | €2,000 | +€1,000 | +100.0% |
| Amounts receivable within one year | 40/41 | €260,177 | €286,922 | +€26,744 | +10.3% |
| Trade receivables | 40 | €76,573 | €86,682 | +€10,109 | +13.2% |
| Other amounts receivable | 41 | €183,604 | €200,240 | +€16,636 | +9.1% |
| Cash at bank and in hand | 54/58 | €7,441 | €2,614 | -€4,827 | -64.9% |
| Total equity and liabilities | 10/49 | €272,325 | €294,612 | +€22,287 | +8.2% |
| Equity | 10/15 | €185,191 | €200,884 | +€15,693 | +8.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €68,860 | €81,860 | +€13,000 | +18.9% |
| Distributable reserves | 133 | €68,860 | €81,860 | +€13,000 | +18.9% |
| Profit (loss) carried forward | 14 | €97,731 | €100,424 | +€2,693 | +2.8% |
| Amounts payable | 17/49 | €87,134 | €93,728 | +€6,594 | +7.6% |
| Amounts payable within one year | 42/48 | €87,134 | €93,728 | +€6,594 | +7.6% |
| Financial debts | 43 | €3,246 | - | -€3,246 | |
| Credit institutions | 430/8 | €3,246 | - | -€3,246 | |
| Trade debts | 44 | €38,218 | €54,912 | +€16,694 | +43.7% |
| Suppliers | 440/4 | €38,218 | €54,912 | +€16,694 | +43.7% |
| Taxes, remuneration and social security | 45 | €45,670 | €38,816 | -€6,854 | -15.0% |
| Taxes | 450/3 | €38,892 | €23,266 | -€15,625 | -40.2% |
| Remuneration and social security | 454/9 | €6,778 | €15,549 | +€8,771 | +129.4% |
| Remuneration, social security and pensions | 62 | €66,113 | €99,068 | +€32,956 | +49.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,072 | €2,840 | -€232 | -7.6% |
| Other operating charges | 640/8 | €2,082 | €2,212 | +€131 | +6.3% |
| Gross operating margin | 9900 | €96,468 | €119,784 | +€23,315 | +24.2% |
| Operating profit (loss) | 9901 | €25,202 | €15,662 | -€9,539 | -37.9% |
| Financial income | 75/76B | €10,763 | €10,335 | -€428 | -4.0% |
| Recurring financial income | 75 | €10,763 | €10,335 | -€428 | -4.0% |
| Financial charges | 65/66B | €4,130 | €3,643 | -€487 | -11.8% |
| Recurring financial charges | 65 | €4,130 | €3,643 | -€487 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €31,835 | €22,354 | -€9,480 | -29.8% |
| Income taxes | 67/77 | €9,564 | €6,661 | -€2,903 | -30.4% |
| Profit (loss) for the period | 9904 | €22,271 | €15,693 | -€6,577 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,271 | €15,693 | -€6,577 | -29.5% |
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 10 October 2026 via checked.be.