4S ADVISING: 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.
4S ADVISING
Largest movements
- Receivables within one year +€21,703
up €21,703 (+18.7%), from €116,363 to €138,066
of which Other amounts receivable: +€30,262
- Tangible fixed assets +€11,781
up €11,781 (+9.2%), from €128,429 to €140,210
of which Land and buildings: +€17,355
- Cash +€6,927
up €6,927 (+9.4%), from €73,615 to €80,541
mainly Net result for the year (+€57,459) and Depreciation (+€10,283)
- Profit (loss) carried forward +€57,459
up €57,459 (+49.4%), from €116,357 to €173,816
- Tax, wage and social debts -€16,512
down €16,512 (-94.8%), from €17,412 to €900
of which Taxes: -€8,812
- Debts after one year -€7,376
down €7,376 (-4.5%), from €165,025 to €157,649
- Other debts +€6,566
new in 2025: €6,566
- Taxes +€19,104
up €19,104 (+142%), from €13,500 to €32,604
- Gross operating margin +€18,638
up €18,638 (+20.2%), from €92,222 to €110,860
- Depreciation -€13,109
down €13,109 (-56.0%), from €23,393 to €10,283
- Financial charges +€4,755
up €4,755 (+98.7%), from €4,819 to €9,573
- Other operating charges -€2,444
down €2,444 (-72.2%), from €3,386 to €942
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 | €323,311 | €365,428 | +€42,117 | +13.0% |
| Fixed assets | 21/28 | €128,493 | €140,210 | +€11,717 | +9.1% |
| Intangible fixed assets | 21 | €65 | - | -€65 | |
| Tangible fixed assets | 22/27 | €128,429 | €140,210 | +€11,781 | +9.2% |
| Land and buildings | 22 | €116,196 | €133,550 | +€17,355 | +14.9% |
| Plant, machinery and equipment | 23 | €1,355 | €1,293 | -€61 | -4.5% |
| Furniture and vehicles | 24 | €10,878 | €5,366 | -€5,512 | -50.7% |
| Current assets | 29/58 | €194,818 | €225,217 | +€30,400 | +15.6% |
| Amounts receivable within one year | 40/41 | €116,363 | €138,066 | +€21,703 | +18.7% |
| Trade receivables | 40 | €56,559 | €47,999 | -€8,559 | -15.1% |
| Other amounts receivable | 41 | €59,804 | €90,067 | +€30,262 | +50.6% |
| Cash at bank and in hand | 54/58 | €73,615 | €80,541 | +€6,927 | +9.4% |
| Deferred charges and accrued income | 490/1 | €4,840 | €6,610 | +€1,770 | +36.6% |
| Total equity and liabilities | 10/49 | €323,311 | €365,428 | +€42,117 | +13.0% |
| Equity | 10/15 | €121,357 | €178,816 | +€57,459 | +47.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €116,357 | €173,816 | +€57,459 | +49.4% |
| Amounts payable | 17/49 | €201,954 | €186,612 | -€15,342 | -7.6% |
| Amounts payable after more than one year | 17 | €165,025 | €157,649 | -€7,376 | -4.5% |
| Financial debts | 170/4 | €165,025 | €157,649 | -€7,376 | -4.5% |
| Amounts payable within one year | 42/48 | €24,836 | €16,524 | -€8,312 | -33.5% |
| Financial debts | 43 | - | €3,599 | +€3,599 | |
| Credit institutions | 430/8 | - | €3,599 | +€3,599 | |
| Trade debts | 44 | €7,424 | €5,459 | -€1,966 | -26.5% |
| Suppliers | 440/4 | €7,424 | €5,459 | -€1,966 | -26.5% |
| Taxes, remuneration and social security | 45 | €17,412 | €900 | -€16,512 | -94.8% |
| Taxes | 450/3 | €9,712 | €900 | -€8,812 | -90.7% |
| Remuneration and social security | 454/9 | €7,700 | - | -€7,700 | |
| Other amounts payable | 47/48 | - | €6,566 | +€6,566 | |
| Accrued charges and deferred income | 492/3 | €12,093 | €12,439 | +€345 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,393 | €10,283 | -€13,109 | -56.0% |
| Other operating charges | 640/8 | €3,386 | €942 | -€2,444 | -72.2% |
| Gross operating margin | 9900 | €92,222 | €110,860 | +€18,638 | +20.2% |
| Operating profit (loss) | 9901 | €65,444 | €99,635 | +€34,192 | +52.2% |
| Financial income | 75/76B | €467 | €1 | -€466 | -99.8% |
| Recurring financial income | 75 | €467 | €1 | -€466 | -99.8% |
| Financial charges | 65/66B | €4,819 | €9,573 | +€4,755 | +98.7% |
| Recurring financial charges | 65 | €4,819 | €9,573 | +€4,755 | +98.7% |
| Profit (loss) for the period before taxes | 9903 | €61,092 | €90,063 | +€28,970 | +47.4% |
| Income taxes | 67/77 | €13,500 | €32,604 | +€19,104 | +142% |
| Profit (loss) for the period | 9904 | €47,592 | €57,459 | +€9,867 | +20.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,592 | €57,459 | +€9,867 | +20.7% |
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 14 October 2026 via checked.be.