4S ASSOCIATES: 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 ASSOCIATES
Largest movements
- Cash -€24,995
down €24,995 (-51.8%), from €48,218 to €23,223
mainly Receivables within one year (-€20,042) and Net result for the year (-€4,124)
- Receivables within one year +€20,042
up €20,042 (+1,872%), from €1,071 to €21,113
- Profit (loss) carried forward -€4,124
down €4,124 (-8.5%), from €48,386 to €44,263
- Trade debts -€781
down €781 (-83.1%), from €940 to €159
- Gross operating margin -€1,265
down €1,265 (-54.7%), from -€2,314 to -€3,579
- Financial income +€1,085
new in 2025: €1,085
- Other operating charges +€378
up €378 (+44.5%), from €850 to €1,228
- Taxes +€90
up €90 (+105%), from €86 to €176
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 | €69,936 | €65,003 | -€4,933 | -7.1% |
| Fixed assets | 21/28 | €20,232 | €20,232 | = | 0.0% |
| Financial fixed assets | 28 | €20,232 | €20,232 | = | 0.0% |
| Current assets | 29/58 | €49,704 | €44,771 | -€4,933 | -9.9% |
| Amounts receivable within one year | 40/41 | €1,071 | €21,113 | +€20,042 | +1,872% |
| Other amounts receivable | 41 | €1,071 | €21,113 | +€20,042 | +1,872% |
| Cash at bank and in hand | 54/58 | €48,218 | €23,223 | -€24,995 | -51.8% |
| Deferred charges and accrued income | 490/1 | €415 | €436 | +€21 | +5.0% |
| Total equity and liabilities | 10/49 | €69,936 | €65,003 | -€4,933 | -7.1% |
| Equity | 10/15 | €68,791 | €64,668 | -€4,124 | -6.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €48,386 | €44,263 | -€4,124 | -8.5% |
| Amounts payable | 17/49 | €1,144 | €335 | -€809 | -70.7% |
| Amounts payable within one year | 42/48 | €1,144 | €335 | -€809 | -70.7% |
| Trade debts | 44 | €940 | €159 | -€781 | -83.1% |
| Suppliers | 440/4 | €940 | €159 | -€781 | -83.1% |
| Taxes, remuneration and social security | 45 | €86 | €176 | +€90 | +105% |
| Taxes | 450/3 | €86 | €176 | +€90 | +105% |
| Other amounts payable | 47/48 | €119 | - | -€119 | |
| Other operating charges | 640/8 | €850 | €1,228 | +€378 | +44.5% |
| Gross operating margin | 9900 | -€2,314 | -€3,579 | -€1,265 | -54.7% |
| Operating profit (loss) | 9901 | -€3,164 | -€4,807 | -€1,643 | -51.9% |
| Financial income | 75/76B | - | €1,085 | +€1,085 | |
| Recurring financial income | 75 | - | €1,085 | +€1,085 | |
| Financial charges | 65/66B | €199 | €226 | +€27 | +13.4% |
| Recurring financial charges | 65 | €199 | €226 | +€27 | +13.4% |
| Profit (loss) for the period before taxes | 9903 | -€3,363 | -€3,948 | -€585 | -17.4% |
| Income taxes | 67/77 | €86 | €176 | +€90 | +105% |
| Profit (loss) for the period | 9904 | -€3,449 | -€4,124 | -€675 | -19.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,449 | -€4,124 | -€675 | -19.6% |
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 24 October 2026 via checked.be.