4FINANCE: 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.
4FINANCE
Largest movements
- Receivables after one year -€266,182
no longer reported in 2025 (was €266,182)
- Receivables within one year +€195,216
up €195,216 (+91.3%), from €213,785 to €409,001
of which Trade receivables: +€195,255
- Tangible fixed assets -€33,730
down €33,730 (-72.1%), from €46,764 to €13,034
of which Furniture and vehicles: -€26,755
- Cash +€12,636
up €12,636 (+48.7%), from €25,965 to €38,601
mainly Other debts (+€390,185) and Receivables after one year (+€266,182)
- Trade debts -€395,189
down €395,189 (-87.9%), from €449,634 to €54,445
- Other debts +€390,185
up €390,185 (+2,233%), from €17,471 to €407,656
- Tax, wage and social debts -€48,354
down €48,354 (-76.8%), from €62,926 to €14,572
of which Remuneration and social security: -€28,374
- Profit (loss) carried forward -€33,486
down €33,486 (-78.2%), from €42,798 to €9,312
- Contributions -€10,393
down €10,393 (-72.9%), from €14,260 to €3,867
- Gross operating margin -€104,631
down €104,631 (-28.4%), from €368,023 to €263,392
- Staff costs -€101,702
down €101,702 (-33.9%), from €300,357 to €198,655
- Other operating charges -€22,200
down €22,200 (-76.3%), from €29,091 to €6,891
- Depreciation -€12,941
down €12,941 (-52.6%), from €24,619 to €11,678
- Taxes -€6,796
down €6,796 (-54.9%), from €12,370 to €5,573
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 | €589,789 | €489,851 | -€99,937 | -16.9% |
| Fixed assets | 21/28 | €77,894 | €41,164 | -€36,730 | -47.2% |
| Intangible fixed assets | 21 | €12,000 | €9,000 | -€3,000 | -25.0% |
| Tangible fixed assets | 22/27 | €46,764 | €13,034 | -€33,730 | -72.1% |
| Furniture and vehicles | 24 | €39,789 | €13,034 | -€26,755 | -67.2% |
| Other tangible fixed assets | 26 | €6,975 | - | -€6,975 | |
| Financial fixed assets | 28 | €19,130 | €19,130 | = | 0.0% |
| Current assets | 29/58 | €511,895 | €448,687 | -€63,208 | -12.3% |
| Amounts receivable after more than one year | 29 | €266,182 | - | -€266,182 | |
| Other amounts receivable | 291 | €266,182 | - | -€266,182 | |
| Amounts receivable within one year | 40/41 | €213,785 | €409,001 | +€195,216 | +91.3% |
| Trade receivables | 40 | €208,349 | €403,603 | +€195,255 | +93.7% |
| Other amounts receivable | 41 | €5,436 | €5,398 | -€39 | -0.7% |
| Cash at bank and in hand | 54/58 | €25,965 | €38,601 | +€12,636 | +48.7% |
| Deferred charges and accrued income | 490/1 | €5,963 | €1,085 | -€4,878 | -81.8% |
| Total equity and liabilities | 10/49 | €589,789 | €489,851 | -€99,937 | -16.9% |
| Equity | 10/15 | €57,058 | €13,179 | -€43,880 | -76.9% |
| Contributions | 10/11 | €14,260 | €3,867 | -€10,393 | -72.9% |
| Contributions outside capital | 11 | €14,260 | - | -€14,260 | |
| Other | 1109/19 | €14,260 | - | -€14,260 | |
| Profit (loss) carried forward | 14 | €42,798 | €9,312 | -€33,486 | -78.2% |
| Amounts payable | 17/49 | €532,731 | €476,673 | -€56,058 | -10.5% |
| Amounts payable after more than one year | 17 | €2,700 | - | -€2,700 | |
| Other amounts payable | 178/9 | €2,700 | - | -€2,700 | |
| Amounts payable within one year | 42/48 | €530,031 | €476,673 | -€53,358 | -10.1% |
| Trade debts | 44 | €449,634 | €54,445 | -€395,189 | -87.9% |
| Suppliers | 440/4 | €449,634 | €54,445 | -€395,189 | -87.9% |
| Taxes, remuneration and social security | 45 | €62,926 | €14,572 | -€48,354 | -76.8% |
| Taxes | 450/3 | €22,957 | €2,977 | -€19,980 | -87.0% |
| Remuneration and social security | 454/9 | €39,969 | €11,595 | -€28,374 | -71.0% |
| Other amounts payable | 47/48 | €17,471 | €407,656 | +€390,185 | +2,233% |
| Remuneration, social security and pensions | 62 | €300,357 | €198,655 | -€101,702 | -33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,619 | €11,678 | -€12,941 | -52.6% |
| Other operating charges | 640/8 | €29,091 | €6,891 | -€22,200 | -76.3% |
| Gross operating margin | 9900 | €368,023 | €263,392 | -€104,631 | -28.4% |
| Operating profit (loss) | 9901 | €13,956 | €46,169 | +€32,212 | +231% |
| Financial income | 75/76B | €8,273 | €4,488 | -€3,785 | -45.8% |
| Recurring financial income | 75 | €8,273 | €4,488 | -€3,785 | -45.8% |
| Financial charges | 65/66B | €725 | €818 | +€93 | +12.8% |
| Recurring financial charges | 65 | €725 | €818 | +€93 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €21,505 | €49,839 | +€28,334 | +132% |
| Income taxes | 67/77 | €12,370 | €5,573 | -€6,796 | -54.9% |
| Profit (loss) for the period | 9904 | €9,135 | €44,266 | +€35,131 | +385% |
| Profit (loss) for the period to be appropriated | 9905 | €9,135 | €44,266 | +€35,131 | +385% |
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.