4P PERFORMANCE: 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.
4P PERFORMANCE
Largest movements
- Cash +€100,090
up €100,090 (+70.9%), from €141,164 to €241,254
mainly Net result for the year (+€75,751) and Receivables within one year (+€29,038)
- Receivables within one year -€29,038
down €29,038 (-50.0%), from €58,080 to €29,042
of which Trade receivables: -€29,040
- Stocks and contracts +€15,000
new in 2025: €15,000
- Reserves +€74,000
up €74,000 (+54.2%), from €136,500 to €210,500
- Other debts +€7,346
up €7,346 (+41.6%), from €17,643 to €24,988
- Gross operating margin -€4,127
down €4,127 (-3.8%), from €109,296 to €105,169
- Taxes -€1,507
down €1,507 (-5.0%), from €30,337 to €28,829
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 | €199,244 | €285,296 | +€86,052 | +43.2% |
| Current assets | 29/58 | €199,244 | €285,296 | +€86,052 | +43.2% |
| Stocks and contracts in progress | 3 | - | €15,000 | +€15,000 | |
| Stocks | 30/36 | - | €15,000 | +€15,000 | |
| Amounts receivable within one year | 40/41 | €58,080 | €29,042 | -€29,038 | -50.0% |
| Trade receivables | 40 | €58,080 | €29,040 | -€29,040 | -50.0% |
| Other amounts receivable | 41 | - | €2 | +€2 | |
| Cash at bank and in hand | 54/58 | €141,164 | €241,254 | +€100,090 | +70.9% |
| Total equity and liabilities | 10/49 | €199,244 | €285,296 | +€86,052 | +43.2% |
| Equity | 10/15 | €139,330 | €214,247 | +€74,918 | +53.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €136,500 | €210,500 | +€74,000 | +54.2% |
| Distributable reserves | 133 | €136,500 | €210,500 | +€74,000 | +54.2% |
| Profit (loss) carried forward | 14 | €330 | €1,247 | +€918 | +278.2% |
| Amounts payable | 17/49 | €59,914 | €71,049 | +€11,134 | +18.6% |
| Amounts payable within one year | 42/48 | €59,914 | €71,049 | +€11,134 | +18.6% |
| Trade debts | 44 | €645 | €2,176 | +€1,531 | +237.3% |
| Suppliers | 440/4 | €645 | €2,176 | +€1,531 | +237.3% |
| Taxes, remuneration and social security | 45 | €41,627 | €43,884 | +€2,257 | +5.4% |
| Taxes | 450/3 | €40,527 | €42,784 | +€2,257 | +5.6% |
| Remuneration and social security | 454/9 | €1,100 | €1,100 | = | 0.0% |
| Other amounts payable | 47/48 | €17,643 | €24,988 | +€7,346 | +41.6% |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €109,296 | €105,169 | -€4,127 | -3.8% |
| Operating profit (loss) | 9901 | €109,296 | €104,770 | -€4,526 | -4.1% |
| Financial charges | 65/66B | €29 | €190 | +€160 | +550.6% |
| Recurring financial charges | 65 | €29 | €190 | +€160 | +550.6% |
| Profit (loss) for the period before taxes | 9903 | €109,267 | €104,580 | -€4,687 | -4.3% |
| Income taxes | 67/77 | €30,337 | €28,829 | -€1,507 | -5.0% |
| Profit (loss) for the period | 9904 | €78,930 | €75,751 | -€3,179 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €78,930 | €75,751 | -€3,179 | -4.0% |
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 7 October 2026 via checked.be.