4C&D: 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.
4C&D
Largest movements
- Tangible fixed assets +€12,468
up €12,468 (+108%), from €11,544 to €24,012
of which Furniture and vehicles: +€11,941
- Receivables within one year -€5,997
down €5,997 (-47.0%), from €12,751 to €6,753
of which Trade receivables: -€5,036
- Cash -€1,608
down €1,608 (-35.4%), from €4,536 to €2,928
mainly Investment in fixed assets (net) (-€17,312) and Trade debts (-€857)
- Deferred charges and accrued income -€1,080
down €1,080 (-90.5%), from €1,194 to €114
- Reserves +€2,824
up €2,824 (+20.2%), from €14,004 to €16,828
- Tax, wage and social debts +€2,235
up €2,235 (+64.6%), from €3,459 to €5,694
of which Taxes: +€2,272
- Trade debts -€857
down €857 (-12.4%), from €6,905 to €6,048
- Other debts -€819
down €819 (-95.8%), from €855 to €36
- Accrued charges and deferred income +€400
new in 2025: €400
- Gross operating margin -€9,101
down €9,101 (-38.2%), from €23,795 to €14,694
- Taxes -€3,650
down €3,650 (-61.6%), from €5,922 to €2,272
- Other operating charges +€3,093
up €3,093 (+232%), from €1,333 to €4,427
- Depreciation +€2,189
up €2,189 (+82.4%), from €2,656 to €4,844
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 | €30,024 | €33,807 | +€3,783 | +12.6% |
| Fixed assets | 21/28 | €11,544 | €24,012 | +€12,468 | +108% |
| Tangible fixed assets | 22/27 | €11,544 | €24,012 | +€12,468 | +108% |
| Plant, machinery and equipment | 23 | €966 | €1,493 | +€527 | +54.5% |
| Furniture and vehicles | 24 | €10,578 | €22,519 | +€11,941 | +113% |
| Current assets | 29/58 | €18,480 | €9,795 | -€8,685 | -47.0% |
| Amounts receivable within one year | 40/41 | €12,751 | €6,753 | -€5,997 | -47.0% |
| Trade receivables | 40 | €10,824 | €5,789 | -€5,036 | -46.5% |
| Other amounts receivable | 41 | €1,926 | €965 | -€962 | -49.9% |
| Cash at bank and in hand | 54/58 | €4,536 | €2,928 | -€1,608 | -35.4% |
| Deferred charges and accrued income | 490/1 | €1,194 | €114 | -€1,080 | -90.5% |
| Total equity and liabilities | 10/49 | €30,024 | €33,807 | +€3,783 | +12.6% |
| Equity | 10/15 | €18,804 | €21,628 | +€2,824 | +15.0% |
| Contributions | 10/11 | €4,800 | €4,800 | = | 0.0% |
| Reserves | 13 | €14,004 | €16,828 | +€2,824 | +20.2% |
| Distributable reserves | 133 | €14,004 | €16,828 | +€2,824 | +20.2% |
| Amounts payable | 17/49 | €11,220 | €12,178 | +€958 | +8.5% |
| Amounts payable within one year | 42/48 | €11,220 | €11,778 | +€559 | +5.0% |
| Trade debts | 44 | €6,905 | €6,048 | -€857 | -12.4% |
| Suppliers | 440/4 | €6,905 | €6,048 | -€857 | -12.4% |
| Taxes, remuneration and social security | 45 | €3,459 | €5,694 | +€2,235 | +64.6% |
| Taxes | 450/3 | €3,422 | €5,694 | +€2,272 | +66.4% |
| Remuneration and social security | 454/9 | €37 | €0 | -€37 | -100% |
| Other amounts payable | 47/48 | €855 | €36 | -€819 | -95.8% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,656 | €4,844 | +€2,189 | +82.4% |
| Other operating charges | 640/8 | €1,333 | €4,427 | +€3,093 | +232% |
| Gross operating margin | 9900 | €23,795 | €14,694 | -€9,101 | -38.2% |
| Operating profit (loss) | 9901 | €19,806 | €5,423 | -€14,383 | -72.6% |
| Financial income | 75/76B | €219 | €0 | -€219 | -100% |
| Recurring financial income | 75 | €219 | €0 | -€219 | -100% |
| Financial charges | 65/66B | €99 | €326 | +€228 | +231% |
| Recurring financial charges | 65 | €99 | €326 | +€228 | +231% |
| Profit (loss) for the period before taxes | 9903 | €19,926 | €5,096 | -€14,830 | -74.4% |
| Income taxes | 67/77 | €5,922 | €2,272 | -€3,650 | -61.6% |
| Profit (loss) for the period | 9904 | €14,004 | €2,824 | -€11,180 | -79.8% |
| Profit (loss) for the period to be appropriated | 9905 | €14,004 | €2,824 | -€11,180 | -79.8% |
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 24 October 2026 via checked.be.