4TWELVE: 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.
4TWELVE
Largest movements
- Cash +€47,159
up €47,159 (+128%), from €36,791 to €83,950
mainly Debts after one year (+€51,666) and Receivables within one year (+€45,002)
- Receivables within one year -€45,002
down €45,002 (-65.7%), from €68,531 to €23,529
of which Trade receivables: -€50,381
- Debts after one year +€51,666
up €51,666 (+124%), from €41,650 to €93,316
- Trade debts -€34,725
down €34,725 (-98.9%), from €35,120 to €395
- Reserves -€9,594
down €9,594 (-59.9%), from €16,027 to €6,433
- Tax, wage and social debts -€2,587
down €2,587 (-60.0%), from €4,308 to €1,722
- Other debts -€1,550
down €1,550 (-100%), from €1,550 to €0
- Gross operating margin -€30,793
down €30,793, from €23,179 to -€7,614
- Taxes -€5,342
down €5,342 (-100%), from €5,342 to €0
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 | €105,322 | €108,505 | +€3,184 | +3.0% |
| Fixed assets | 21/28 | - | €1,027 | +€1,027 | |
| Tangible fixed assets | 22/27 | - | €1,027 | +€1,027 | |
| Furniture and vehicles | 24 | - | €1,027 | +€1,027 | |
| Current assets | 29/58 | €105,322 | €107,479 | +€2,157 | +2.0% |
| Amounts receivable within one year | 40/41 | €68,531 | €23,529 | -€45,002 | -65.7% |
| Trade receivables | 40 | €68,531 | €18,150 | -€50,381 | -73.5% |
| Other amounts receivable | 41 | - | €5,379 | +€5,379 | |
| Cash at bank and in hand | 54/58 | €36,791 | €83,950 | +€47,159 | +128% |
| Total equity and liabilities | 10/49 | €105,322 | €108,505 | +€3,184 | +3.0% |
| Equity | 10/15 | €21,027 | €11,433 | -€9,594 | -45.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €16,027 | €6,433 | -€9,594 | -59.9% |
| Distributable reserves | 133 | €16,027 | €6,433 | -€9,594 | -59.9% |
| Amounts payable | 17/49 | €84,295 | €97,072 | +€12,778 | +15.2% |
| Amounts payable after more than one year | 17 | €41,650 | €93,316 | +€51,666 | +124% |
| Financial debts | 170/4 | €41,650 | €93,316 | +€51,666 | +124% |
| Amounts payable within one year | 42/48 | €40,979 | €2,117 | -€38,862 | -94.8% |
| Trade debts | 44 | €35,120 | €395 | -€34,725 | -98.9% |
| Suppliers | 440/4 | €35,120 | €395 | -€34,725 | -98.9% |
| Taxes, remuneration and social security | 45 | €4,308 | €1,722 | -€2,587 | -60.0% |
| Taxes | 450/3 | €4,308 | €1,722 | -€2,587 | -60.0% |
| Other amounts payable | 47/48 | €1,550 | €0 | -€1,550 | -100% |
| Accrued charges and deferred income | 492/3 | €1,666 | €1,640 | -€26 | -1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €173 | +€173 | |
| Other operating charges | 640/8 | €118 | €120 | +€2 | +1.7% |
| Gross operating margin | 9900 | €23,179 | -€7,614 | -€30,793 | |
| Operating profit (loss) | 9901 | €23,061 | -€7,907 | -€30,968 | |
| Financial income | 75/76B | - | €146 | +€146 | |
| Recurring financial income | 75 | - | €146 | +€146 | |
| Financial charges | 65/66B | €1,692 | €1,833 | +€142 | +8.4% |
| Recurring financial charges | 65 | €1,692 | €1,833 | +€142 | +8.4% |
| Profit (loss) for the period before taxes | 9903 | €21,370 | -€9,594 | -€30,964 | |
| Income taxes | 67/77 | €5,342 | €0 | -€5,342 | -100% |
| Profit (loss) for the period | 9904 | €16,027 | -€9,594 | -€25,621 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,027 | -€9,594 | -€25,621 |
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.