4FOR: what changed
Two fiscal 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.
4FOR
Largest movements
- Cash +€20,950
up €20,950 (+25.1%), from €83,440 to €104,390
mainly Net result for the year (+€83,473) and Depreciation (+€10,903)
- Tangible fixed assets +€5,525
up €5,525 (+28.3%), from €19,496 to €25,021
of which Plant, machinery and equipment: +€6,525
- Reserves +€15,769
up €15,769 (+23.3%), from €67,730 to €83,499
- Tax, wage and social debts +€8,932
up €8,932 (+47.0%), from €18,994 to €27,926
of which Taxes: +€8,932
- Other debts +€2,346
up €2,346 (+4.3%), from €54,432 to €56,778
- Gross operating margin +€21,372
up €21,372 (+21.2%), from €100,697 to €122,070
- Taxes +€4,929
up €4,929 (+27.7%), from €17,799 to €22,728
- Staff costs -€3,535
down €3,535 (-51.0%), from €6,932 to €3,396
- Depreciation +€2,974
up €2,974 (+37.5%), from €7,929 to €10,903
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 | €148,399 | €174,863 | +€26,464 | +17.8% |
| Fixed assets | 21/28 | €19,496 | €25,021 | +€5,525 | +28.3% |
| Tangible fixed assets | 22/27 | €19,496 | €25,021 | +€5,525 | +28.3% |
| Plant, machinery and equipment | 23 | - | €6,525 | +€6,525 | |
| Furniture and vehicles | 24 | €14,553 | €13,939 | -€614 | -4.2% |
| Other tangible fixed assets | 26 | €4,943 | €4,557 | -€386 | -7.8% |
| Current assets | 29/58 | €128,903 | €149,842 | +€20,939 | +16.2% |
| Amounts receivable within one year | 40/41 | €39,275 | €40,028 | +€753 | +1.9% |
| Trade receivables | 40 | €39,275 | €40,028 | +€753 | +1.9% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €83,440 | €104,390 | +€20,950 | +25.1% |
| Deferred charges and accrued income | 490/1 | €6,187 | €5,423 | -€763 | -12.3% |
| Total equity and liabilities | 10/49 | €148,399 | €174,863 | +€26,464 | +17.8% |
| Equity | 10/15 | €67,730 | €83,499 | +€15,769 | +23.3% |
| Reserves | 13 | €67,730 | €83,499 | +€15,769 | +23.3% |
| Distributable reserves | 133 | €67,730 | €83,499 | +€15,769 | +23.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €80,668 | €91,364 | +€10,696 | +13.3% |
| Amounts payable within one year | 42/48 | €80,668 | €91,364 | +€10,696 | +13.3% |
| Trade debts | 44 | €7,242 | €6,659 | -€583 | -8.0% |
| Suppliers | 440/4 | €7,242 | €6,659 | -€583 | -8.0% |
| Taxes, remuneration and social security | 45 | €18,994 | €27,926 | +€8,932 | +47.0% |
| Taxes | 450/3 | €15,844 | €24,776 | +€8,932 | +56.4% |
| Remuneration and social security | 454/9 | €3,150 | €3,150 | = | 0.0% |
| Other amounts payable | 47/48 | €54,432 | €56,778 | +€2,346 | +4.3% |
| Remuneration, social security and pensions | 62 | €6,932 | €3,396 | -€3,535 | -51.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,929 | €10,903 | +€2,974 | +37.5% |
| Other operating charges | 640/8 | €1,143 | €1,262 | +€119 | +10.4% |
| Gross operating margin | 9900 | €100,697 | €122,070 | +€21,372 | +21.2% |
| Operating profit (loss) | 9901 | €84,694 | €106,508 | +€21,814 | +25.8% |
| Financial income | 75/76B | €3 | €20 | +€17 | +549.4% |
| Recurring financial income | 75 | €3 | €20 | +€17 | +549.4% |
| Financial charges | 65/66B | €83 | €328 | +€245 | +296.7% |
| Recurring financial charges | 65 | €83 | €328 | +€245 | +296.7% |
| Profit (loss) for the period before taxes | 9903 | €84,614 | €106,200 | +€21,586 | +25.5% |
| Income taxes | 67/77 | €17,799 | €22,728 | +€4,929 | +27.7% |
| Profit (loss) for the period | 9904 | €66,815 | €83,473 | +€16,658 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €66,815 | €83,473 | +€16,658 | +24.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.