4 REAL: 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 REAL
Largest movements
- Tangible fixed assets -€7,856
down €7,856 (-4.7%), from €167,299 to €159,443
- Current assets +€3,514
up €3,514 (+15.0%), from €23,382 to €26,896
of which Cash: +€8,791
- Debts -€19,092
down €19,092 (-14.3%), from €133,660 to €114,568
of which Debts after one year: -€13,743
- Profit (loss) carried forward +€14,750
up €14,750 (+37.9%), from €38,921 to €53,671
- Gross operating margin +€21,266
up €21,266 (+214%), from €9,940 to €31,206
- Taxes +€3,969
up €3,969 (+1,899%), from €209 to €4,178
- Depreciation -€592
down €592 (-6.8%), from €8,737 to €8,145
From the 2018 result to the 2019 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2018 | 2019 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €190,681 | €186,339 | -€4,342 | -2.3% |
| Fixed assets | 21/28 | €167,299 | €159,443 | -€7,856 | -4.7% |
| Tangible fixed assets | 22/27 | €167,299 | €159,443 | -€7,856 | -4.7% |
| Current assets | 29/58 | €23,382 | €26,896 | +€3,514 | +15.0% |
| Amounts receivable within one year | 40/41 | €16,056 | €12,799 | -€3,257 | -20.3% |
| Cash at bank and in hand | 54/58 | €5,188 | €13,979 | +€8,791 | +169% |
| Total equity and liabilities | 10/49 | €190,681 | €186,339 | -€4,342 | -2.3% |
| Equity | 10/15 | €57,021 | €71,771 | +€14,750 | +25.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €17,100 | €17,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,921 | €53,671 | +€14,750 | +37.9% |
| Amounts payable | 17/49 | €133,660 | €114,568 | -€19,092 | -14.3% |
| Amounts payable after more than one year | 17 | €105,183 | €91,440 | -€13,743 | -13.1% |
| Amounts payable within one year | 42/48 | €27,439 | €23,128 | -€4,311 | -15.7% |
| Trade debts | 44 | €5,553 | €1,224 | -€4,329 | -78.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,737 | €8,145 | -€592 | -6.8% |
| Gross operating margin | 9900 | €9,940 | €31,206 | +€21,266 | +214% |
| Operating profit (loss) | 9901 | -€433 | €21,661 | +€22,094 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Recurring financial charges | 65 | €3,071 | €2,733 | -€338 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,502 | €18,928 | +€22,430 | |
| Income taxes | 67/77 | €209 | €4,178 | +€3,969 | +1,899% |
| Profit (loss) for the period | 9904 | -€3,711 | €14,750 | +€18,461 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,711 | €14,750 | +€18,461 |
Source: filed annual accounts (NBB), financial years ended 31 December 2018 and 31 December 2019. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.