4N 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.
4N MANAGEMENT
Largest movements
- Cash -€4,739
down €4,739 (-69.0%), from €6,869 to €2,130
mainly Net result for the year (-€5,719) and Receivables within one year (-€248)
- Tangible fixed assets -€360
down €360 (-33.6%), from €1,071 to €711
- Receivables within one year +€248
up €248 (+43.5%), from €571 to €819
- Profit (loss) carried forward -€5,719
new in 2025: -€5,719
- Tax, wage and social debts +€575
up €575 (+961%), from €60 to €635
- Trade debts +€293
new in 2025: €293
- Gross operating margin -€6,354
down €6,354, from €1,576 to -€4,778
- Other operating charges -€328
down €328 (-38.6%), from €848 to €520
- Taxes -€60
down €60 (-100%), from €60 to €0
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 | €8,511 | €3,660 | -€4,851 | -57.0% |
| Fixed assets | 21/28 | €1,071 | €711 | -€360 | -33.6% |
| Tangible fixed assets | 22/27 | €1,071 | €711 | -€360 | -33.6% |
| Furniture and vehicles | 24 | €1,071 | €711 | -€360 | -33.6% |
| Current assets | 29/58 | €7,440 | €2,949 | -€4,491 | -60.4% |
| Amounts receivable within one year | 40/41 | €571 | €819 | +€248 | +43.5% |
| Other amounts receivable | 41 | €571 | €819 | +€248 | +43.5% |
| Cash at bank and in hand | 54/58 | €6,869 | €2,130 | -€4,739 | -69.0% |
| Total equity and liabilities | 10/49 | €8,511 | €3,660 | -€4,851 | -57.0% |
| Equity | 10/15 | €7,821 | €2,102 | -€5,719 | -73.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €2,821 | €2,821 | = | 0.0% |
| Distributable reserves | 133 | €2,821 | €2,821 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€5,719 | -€5,719 | |
| Amounts payable | 17/49 | €690 | €1,558 | +€868 | +126% |
| Amounts payable within one year | 42/48 | €690 | €1,558 | +€868 | +126% |
| Trade debts | 44 | - | €293 | +€293 | |
| Suppliers | 440/4 | - | €293 | +€293 | |
| Taxes, remuneration and social security | 45 | €60 | €635 | +€575 | +961% |
| Taxes | 450/3 | €60 | €635 | +€575 | +961% |
| Other amounts payable | 47/48 | €630 | €630 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €360 | €360 | = | 0.0% |
| Other operating charges | 640/8 | €848 | €520 | -€328 | -38.6% |
| Gross operating margin | 9900 | €1,576 | -€4,778 | -€6,354 | |
| Operating profit (loss) | 9901 | €368 | -€5,659 | -€6,026 | |
| Financial charges | 65/66B | €69 | €60 | -€8 | -11.8% |
| Recurring financial charges | 65 | €69 | €60 | -€8 | -11.8% |
| Profit (loss) for the period before taxes | 9903 | €299 | -€5,719 | -€6,018 | |
| Income taxes | 67/77 | €60 | €0 | -€60 | -100% |
| Profit (loss) for the period | 9904 | €239 | -€5,719 | -€5,958 | |
| Profit (loss) for the period to be appropriated | 9905 | €239 | -€5,719 | -€5,958 |
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 17 October 2026 via checked.be.