4FLOW MANAGEMENT: 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.
4FLOW MANAGEMENT
Largest movements
- Receivables within one year +€64,017
up €64,017 (+123.3%), from €51,903 to €115,920
of which Trade receivables: +€36,132
- Cash -€39,006
down €39,006 (-13.4%), from €290,445 to €251,439
mainly Receivables within one year (-€64,017) and Tax, wage and social debts (-€40,345)
- Trade debts +€40,368
up €40,368 (+891.3%), from €4,529 to €44,897
- Tax, wage and social debts -€40,345
down €40,345 (-37.3%), from €108,032 to €67,687
of which Remuneration and social security: -€48,145
- Profit (loss) carried forward +€23,067
up €23,067 (+10.3%), from €223,038 to €246,105
- Gross operating margin -€12,369
down €12,369 (-1.7%), from €722,605 to €710,237
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 | €356,059 | €379,148 | +€23,089 | +6.5% |
| Fixed assets | 21/28 | €7,961 | €8,355 | +€394 | +4.9% |
| Tangible fixed assets | 22/27 | €556 | €440 | -€116 | -20.8% |
| Plant, machinery and equipment | 23 | €556 | €440 | -€116 | -20.8% |
| Financial fixed assets | 28 | €7,405 | €7,915 | +€510 | +6.9% |
| Current assets | 29/58 | €348,098 | €370,793 | +€22,695 | +6.5% |
| Amounts receivable within one year | 40/41 | €51,903 | €115,920 | +€64,017 | +123.3% |
| Trade receivables | 40 | €36,504 | €72,636 | +€36,132 | +99.0% |
| Other amounts receivable | 41 | €15,399 | €43,284 | +€27,885 | +181.1% |
| Cash at bank and in hand | 54/58 | €290,445 | €251,439 | -€39,006 | -13.4% |
| Deferred charges and accrued income | 490/1 | €5,750 | €3,434 | -€2,316 | -40.3% |
| Total equity and liabilities | 10/49 | €356,059 | €379,148 | +€23,089 | +6.5% |
| Equity | 10/15 | €243,498 | €266,565 | +€23,067 | +9.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €223,038 | €246,105 | +€23,067 | +10.3% |
| Amounts payable | 17/49 | €112,561 | €112,584 | +€23 | 0.0% |
| Amounts payable within one year | 42/48 | €112,561 | €112,584 | +€23 | 0.0% |
| Trade debts | 44 | €4,529 | €44,897 | +€40,368 | +891.3% |
| Suppliers | 440/4 | €4,529 | €44,897 | +€40,368 | +891.3% |
| Taxes, remuneration and social security | 45 | €108,032 | €67,687 | -€40,345 | -37.3% |
| Taxes | 450/3 | €9,694 | €17,493 | +€7,799 | +80.5% |
| Remuneration and social security | 454/9 | €98,338 | €50,194 | -€48,145 | -49.0% |
| Remuneration, social security and pensions | 62 | €675,136 | €668,467 | -€6,669 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €189 | €116 | -€73 | -38.7% |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Non-recurring operating charges | 66A | €375 | - | -€375 | |
| Gross operating margin | 9900 | €722,605 | €710,237 | -€12,369 | -1.7% |
| Operating profit (loss) | 9901 | €46,788 | €41,534 | -€5,254 | -11.2% |
| Financial income | 75/76B | €0 | €29 | +€29 | +73400.0% |
| Recurring financial income | 75 | €0 | €29 | +€29 | +73400.0% |
| Financial charges | 65/66B | €4,926 | €4,313 | -€613 | -12.5% |
| Recurring financial charges | 65 | €4,926 | €4,313 | -€613 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €41,861 | €37,250 | -€4,611 | -11.0% |
| Income taxes | 67/77 | €14,592 | €14,184 | -€409 | -2.8% |
| Profit (loss) for the period | 9904 | €27,269 | €23,067 | -€4,202 | -15.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,269 | €23,067 | -€4,202 | -15.4% |
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 11 October 2026 via checked.be.