4ABF: 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.
4ABF
Largest movements
- Current investments +€262,962
new in 2025: €262,962
- Cash -€149,943
down €149,943 (-53.8%), from €278,498 to €128,555
mainly Current investments (-€262,962) and Investment in fixed assets (net) (-€2,181)
- Receivables within one year -€31,230
down €31,230 (-89.8%), from €34,784 to €3,554
of which Trade receivables: -€31,230
- Reserves +€74,339
up €74,339 (+14.1%), from €527,158 to €601,496
of which Distributable reserves: +€74,339
- Gross operating margin +€53,723
up €53,723 (+97.2%), from €55,285 to €109,009
- Taxes +€12,679
up €12,679 (+76.4%), from €16,589 to €29,269
- Financial income +€1,235
up €1,235 (+260%), from €475 to €1,710
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 | €553,405 | €632,489 | +€79,084 | +14.3% |
| Fixed assets | 21/28 | €238,196 | €235,582 | -€2,614 | -1.1% |
| Tangible fixed assets | 22/27 | €238,196 | €235,582 | -€2,614 | -1.1% |
| Land and buildings | 22 | €235,650 | €231,077 | -€4,573 | -1.9% |
| Furniture and vehicles | 24 | - | €1,960 | +€1,960 | |
| Other tangible fixed assets | 26 | €2,546 | €2,546 | = | 0.0% |
| Current assets | 29/58 | €315,209 | €396,907 | +€81,698 | +25.9% |
| Amounts receivable within one year | 40/41 | €34,784 | €3,554 | -€31,230 | -89.8% |
| Trade receivables | 40 | €31,230 | €0 | -€31,230 | -100% |
| Other amounts receivable | 41 | €3,554 | €3,554 | = | 0.0% |
| Current investments | 50/53 | - | €262,962 | +€262,962 | |
| Cash at bank and in hand | 54/58 | €278,498 | €128,555 | -€149,943 | -53.8% |
| Deferred charges and accrued income | 490/1 | €1,927 | €1,836 | -€91 | -4.7% |
| Total equity and liabilities | 10/49 | €553,405 | €632,489 | +€79,084 | +14.3% |
| Equity | 10/15 | €539,558 | €613,896 | +€74,339 | +13.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €527,158 | €601,496 | +€74,339 | +14.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €527,158 | €601,496 | +€74,339 | +14.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €13,847 | €18,592 | +€4,745 | +34.3% |
| Amounts payable within one year | 42/48 | €13,847 | €18,592 | +€4,745 | +34.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €502 | €436 | -€66 | -13.1% |
| Suppliers | 440/4 | €502 | €436 | -€66 | -13.1% |
| Taxes, remuneration and social security | 45 | €11,166 | €12,166 | +€1,000 | +9.0% |
| Taxes | 450/3 | €11,166 | €12,166 | +€1,000 | +9.0% |
| Other amounts payable | 47/48 | €2,180 | €5,990 | +€3,811 | +175% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,573 | €4,794 | +€221 | +4.8% |
| Other operating charges | 640/8 | €2,098 | €2,086 | -€12 | -0.6% |
| Gross operating margin | 9900 | €55,285 | €109,009 | +€53,723 | +97.2% |
| Operating profit (loss) | 9901 | €48,614 | €102,129 | +€53,515 | +110% |
| Financial income | 75/76B | €475 | €1,710 | +€1,235 | +260% |
| Recurring financial income | 75 | €475 | €1,710 | +€1,235 | +260% |
| Financial charges | 65/66B | €192 | €232 | +€40 | +20.9% |
| Recurring financial charges | 65 | €192 | €232 | +€40 | +20.9% |
| Profit (loss) for the period before taxes | 9903 | €48,898 | €103,607 | +€54,709 | +112% |
| Income taxes | 67/77 | €16,589 | €29,269 | +€12,679 | +76.4% |
| Profit (loss) for the period | 9904 | €32,309 | €74,339 | +€42,030 | +130% |
| Profit (loss) for the period to be appropriated | 9905 | €32,309 | €74,339 | +€42,030 | +130% |
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 14 October 2026 via checked.be.