4P&T: 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&T
Largest movements
- Cash +€17,997
up €17,997 (+45.6%), from €39,463 to €57,460
mainly Net result for the year (+€36,796) and Tax, wage and social debts (+€5,991)
- Receivables within one year +€17,255
new in 2025: €17,255
- Deferred charges and accrued income +€9,531
up €9,531 (+706.4%), from €1,349 to €10,880
- Formation expenses -€2,964
down €2,964 (-100.0%), from €2,964 to €0
- Tangible fixed assets +€1,160
up €1,160 (+78.4%), from €1,479 to €2,638
of which Plant, machinery and equipment: +€1,320
- Reserves +€36,796
up €36,796 (+193.1%), from €19,053 to €55,848
- Tax, wage and social debts +€5,991
up €5,991 (+29.4%), from €20,405 to €26,396
- Gross operating margin +€25,487
up €25,487 (+84.4%), from €30,201 to €55,688
- Taxes +€5,184
up €5,184 (+61.4%), from €8,445 to €13,630
- Financial charges +€1,273
up €1,273 (+578631.8%), from €0 to €1,273
- Depreciation +€1,267
up €1,267 (+51.1%), from €2,478 to €3,745
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 | €45,255 | €88,234 | +€42,979 | +95.0% |
| Formation expenses | 20 | €2,964 | €0 | -€2,964 | -100.0% |
| Fixed assets | 21/28 | €1,479 | €2,638 | +€1,160 | +78.4% |
| Tangible fixed assets | 22/27 | €1,479 | €2,638 | +€1,160 | +78.4% |
| Plant, machinery and equipment | 23 | €823 | €2,143 | +€1,320 | +160.3% |
| Furniture and vehicles | 24 | €655 | €495 | -€160 | -24.4% |
| Current assets | 29/58 | €40,812 | €85,596 | +€44,783 | +109.7% |
| Amounts receivable within one year | 40/41 | - | €17,255 | +€17,255 | |
| Trade receivables | 40 | - | €17,255 | +€17,255 | |
| Cash at bank and in hand | 54/58 | €39,463 | €57,460 | +€17,997 | +45.6% |
| Deferred charges and accrued income | 490/1 | €1,349 | €10,880 | +€9,531 | +706.4% |
| Total equity and liabilities | 10/49 | €45,255 | €88,234 | +€42,979 | +95.0% |
| Equity | 10/15 | €22,553 | €59,348 | +€36,796 | +163.2% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €19,053 | €55,848 | +€36,796 | +193.1% |
| Distributable reserves | 133 | €19,053 | €55,848 | +€36,796 | +193.1% |
| Amounts payable | 17/49 | €22,703 | €28,886 | +€6,183 | +27.2% |
| Amounts payable within one year | 42/48 | €20,453 | €26,636 | +€6,183 | +30.2% |
| Taxes, remuneration and social security | 45 | €20,405 | €26,396 | +€5,991 | +29.4% |
| Taxes | 450/3 | €20,405 | €26,396 | +€5,991 | +29.4% |
| Other amounts payable | 47/48 | €47 | €240 | +€192 | +405.3% |
| Accrued charges and deferred income | 492/3 | €2,250 | €2,250 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,478 | €3,745 | +€1,267 | +51.1% |
| Other operating charges | 640/8 | €225 | €244 | +€20 | +8.7% |
| Gross operating margin | 9900 | €30,201 | €55,688 | +€25,487 | +84.4% |
| Operating profit (loss) | 9901 | €27,498 | €51,698 | +€24,200 | +88.0% |
| Financial charges | 65/66B | €0 | €1,273 | +€1,273 | +578631.8% |
| Recurring financial charges | 65 | €0 | €1,273 | +€1,273 | +578631.8% |
| Profit (loss) for the period before taxes | 9903 | €27,498 | €50,425 | +€22,927 | +83.4% |
| Income taxes | 67/77 | €8,445 | €13,630 | +€5,184 | +61.4% |
| Profit (loss) for the period | 9904 | €19,053 | €36,796 | +€17,743 | +93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €19,053 | €36,796 | +€17,743 | +93.1% |
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.