4S Advisory: 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 Advisory
Largest movements
- Receivables within one year +€8,192
up €8,192 (+60.0%), from €13,643 to €21,835
- Cash +€3,845
up €3,845 (+27.5%), from €13,972 to €17,817
mainly Net result for the year (+€9,906) and Trade debts (+€2,352)
- Deferred charges and accrued income +€1,823
up €1,823 (+923%), from €197 to €2,020
- Reserves +€9,906
up €9,906 (+60.7%), from €16,320 to €26,226
- Trade debts +€2,352
up €2,352 (+360%), from €653 to €3,006
- Tax, wage and social debts +€1,414
up €1,414 (+9.2%), from €15,381 to €16,795
of which Taxes: +€3,914
- Write-downs +€12,650
new in 2025: €12,650
- Gross operating margin +€7,350
up €7,350 (+33.1%), from €22,231 to €29,582
- Taxes -€1,705
down €1,705 (-29.3%), from €5,822 to €4,117
- Depreciation +€1,487
up €1,487 (+1,962%), from €76 to €1,563
- Financial charges +€942
up €942 (+6,853%), from €14 to €956
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 | €35,354 | €49,045 | +€13,691 | +38.7% |
| Fixed assets | 21/28 | €7,541 | €7,372 | -€169 | -2.2% |
| Tangible fixed assets | 22/27 | €7,541 | €7,372 | -€169 | -2.2% |
| Land and buildings | 22 | €6,473 | €5,822 | -€650 | -10.0% |
| Plant, machinery and equipment | 23 | €1,068 | €511 | -€557 | -52.2% |
| Furniture and vehicles | 24 | - | €1,039 | +€1,039 | |
| Current assets | 29/58 | €27,813 | €41,673 | +€13,860 | +49.8% |
| Amounts receivable within one year | 40/41 | €13,643 | €21,835 | +€8,192 | +60.0% |
| Trade receivables | 40 | €13,643 | €21,835 | +€8,192 | +60.0% |
| Cash at bank and in hand | 54/58 | €13,972 | €17,817 | +€3,845 | +27.5% |
| Deferred charges and accrued income | 490/1 | €197 | €2,020 | +€1,823 | +923% |
| Total equity and liabilities | 10/49 | €35,354 | €49,045 | +€13,691 | +38.7% |
| Equity | 10/15 | €19,320 | €29,226 | +€9,906 | +51.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €16,320 | €26,226 | +€9,906 | +60.7% |
| Distributable reserves | 133 | €16,320 | €26,226 | +€9,906 | +60.7% |
| Amounts payable | 17/49 | €16,034 | €19,819 | +€3,785 | +23.6% |
| Amounts payable within one year | 42/48 | €16,034 | €19,819 | +€3,785 | +23.6% |
| Trade debts | 44 | €653 | €3,006 | +€2,352 | +360% |
| Suppliers | 440/4 | €653 | €3,006 | +€2,352 | +360% |
| Taxes, remuneration and social security | 45 | €15,381 | €16,795 | +€1,414 | +9.2% |
| Taxes | 450/3 | €12,881 | €16,795 | +€3,914 | +30.4% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100% |
| Other amounts payable | 47/48 | - | €19 | +€19 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76 | €1,563 | +€1,487 | +1,962% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €12,650 | +€12,650 | |
| Other operating charges | 640/8 | - | €394 | +€394 | |
| Gross operating margin | 9900 | €22,231 | €29,582 | +€7,350 | +33.1% |
| Operating profit (loss) | 9901 | €22,156 | €14,975 | -€7,181 | -32.4% |
| Financial income | 75/76B | €0 | €4 | +€4 | +17,800% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +17,800% |
| Financial charges | 65/66B | €14 | €956 | +€942 | +6,853% |
| Recurring financial charges | 65 | €14 | €956 | +€942 | +6,853% |
| Profit (loss) for the period before taxes | 9903 | €22,142 | €14,022 | -€8,120 | -36.7% |
| Income taxes | 67/77 | €5,822 | €4,117 | -€1,705 | -29.3% |
| Profit (loss) for the period | 9904 | €16,320 | €9,906 | -€6,414 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €16,320 | €9,906 | -€6,414 | -39.3% |
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.