4S SERVICES: 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 SERVICES
Largest movements
- Receivables within one year -€68,797
down €68,797 (-22.9%), from €300,848 to €232,052
of which Trade receivables: -€40,013
- Deferred charges and accrued income -€28,667
down €28,667 (-95.0%), from €30,163 to €1,495
- Stocks and contracts -€15,620
down €15,620 (-8.4%), from €185,397 to €169,777
- Profit (loss) carried forward -€50,207
down €50,207 (-64.9%), from €77,343 to €27,136
- Trade debts -€49,596
down €49,596 (-71.9%), from €69,005 to €19,409
- Current portion of long-term debt -€29,939
down €29,939 (-18.3%), from €163,750 to €133,811
- Short-term financial debts +€21,548
new in 2025: €21,548
- Tax, wage and social debts -€6,380
no longer reported in 2025 (was €6,380)
of which Remuneration and social security: -€4,330
- Gross operating margin -€64,939
down €64,939, from €62,326 to -€2,613
- Staff costs -€16,272
down €16,272 (-48.2%), from €33,772 to €17,500
- Taxes +€8,361
up €8,361 (+558.5%), from €1,497 to €9,858
- Other operating charges -€7,262
down €7,262 (-87.6%), from €8,286 to €1,024
- Financial charges -€3,109
down €3,109 (-17.3%), from €17,965 to €14,856
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 | €535,767 | €422,113 | -€113,653 | -21.2% |
| Fixed assets | 21/28 | €14,693 | €18,790 | +€4,096 | +27.9% |
| Intangible fixed assets | 21 | €9,736 | €13,833 | +€4,096 | +42.1% |
| Financial fixed assets | 28 | €4,957 | €4,957 | = | 0.0% |
| Current assets | 29/58 | €521,073 | €403,324 | -€117,750 | -22.6% |
| Stocks and contracts in progress | 3 | €185,397 | €169,777 | -€15,620 | -8.4% |
| Stocks | 30/36 | €185,397 | €169,777 | -€15,620 | -8.4% |
| Amounts receivable within one year | 40/41 | €300,848 | €232,052 | -€68,797 | -22.9% |
| Trade receivables | 40 | €261,046 | €221,033 | -€40,013 | -15.3% |
| Other amounts receivable | 41 | €39,802 | €11,018 | -€28,784 | -72.3% |
| Cash at bank and in hand | 54/58 | €4,666 | - | -€4,666 | |
| Deferred charges and accrued income | 490/1 | €30,163 | €1,495 | -€28,667 | -95.0% |
| Total equity and liabilities | 10/49 | €535,767 | €422,113 | -€113,653 | -21.2% |
| Equity | 10/15 | €295,943 | €245,736 | -€50,207 | -17.0% |
| Contributions | 10/11 | €218,600 | €218,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €77,343 | €27,136 | -€50,207 | -64.9% |
| Amounts payable | 17/49 | €239,823 | €176,377 | -€63,446 | -26.5% |
| Amounts payable after more than one year | 17 | - | €1,609 | +€1,609 | |
| Financial debts | 170/4 | - | €1,609 | +€1,609 | |
| Amounts payable within one year | 42/48 | €239,823 | €174,768 | -€65,055 | -27.1% |
| Current portion of amounts payable after more than one year | 42 | €163,750 | €133,811 | -€29,939 | -18.3% |
| Financial debts | 43 | - | €21,548 | +€21,548 | |
| Credit institutions | 430/8 | - | €21,548 | +€21,548 | |
| Trade debts | 44 | €69,005 | €19,409 | -€49,596 | -71.9% |
| Suppliers | 440/4 | €69,005 | €19,409 | -€49,596 | -71.9% |
| Taxes, remuneration and social security | 45 | €6,380 | - | -€6,380 | |
| Taxes | 450/3 | €2,050 | - | -€2,050 | |
| Remuneration and social security | 454/9 | €4,330 | - | -€4,330 | |
| Other amounts payable | 47/48 | €688 | - | -€688 | |
| Remuneration, social security and pensions | 62 | €33,772 | €17,500 | -€16,272 | -48.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,752 | €4,367 | +€615 | +16.4% |
| Other operating charges | 640/8 | €8,286 | €1,024 | -€7,262 | -87.6% |
| Gross operating margin | 9900 | €62,326 | -€2,613 | -€64,939 | |
| Operating profit (loss) | 9901 | €16,516 | -€25,504 | -€42,020 | |
| Financial income | 75/76B | €2,350 | €11 | -€2,339 | -99.5% |
| Recurring financial income | 75 | €2,350 | €11 | -€2,339 | -99.5% |
| Financial charges | 65/66B | €17,965 | €14,856 | -€3,109 | -17.3% |
| Recurring financial charges | 65 | €17,965 | €14,856 | -€3,109 | -17.3% |
| Profit (loss) for the period before taxes | 9903 | €901 | -€40,349 | -€41,250 | |
| Income taxes | 67/77 | €1,497 | €9,858 | +€8,361 | +558.5% |
| Profit (loss) for the period | 9904 | -€596 | -€50,207 | -€49,611 | -8321.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€596 | -€50,207 | -€49,611 | -8321.6% |
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 9 October 2026 via checked.be.