4Wards Invest: what changed
4Wards Invest
Largest movements
- Cash +€32,104
up €32,104 (+152%), from €21,089 to €53,193
mainly Provisions (+€23,667) and Tax, wage and social debts (+€8,417)
- Current investments +€6,500
new in 2025: €6,500
- Receivables within one year -€2,518
down €2,518 (-38.2%), from €6,586 to €4,068
of which Trade receivables: -€6,586
- Deferred charges and accrued income +€992
up €992 (+147%), from €676 to €1,668
- Formation expenses -€948
down €948 (-100%), from €948 to €0
- Provisions +€23,667
new in 2025: €23,667
- Tax, wage and social debts +€8,417
up €8,417 (+160%), from €5,259 to €13,676
- Reserves +€6,757
up €6,757 (+45.5%), from €14,866 to €21,623
- Other debts -€3,484
down €3,484 (-80.2%), from €4,343 to €859
- Provisions +€23,667
new in 2025: €23,667
- Gross operating margin +€18,295
up €18,295 (+79.7%), from €22,943 to €41,237
- Taxes +€4,415
up €4,415 (+106%), from €4,168 to €8,583
- Depreciation -€1,513
down €1,513 (-51.0%), from €2,968 to €1,454
- Financial income +€422
up €422 (+968%), from €44 to €466
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,512 | €66,135 | +€35,624 | +117% |
| Formation expenses | 20 | €948 | €0 | -€948 | -100% |
| Fixed assets | 21/28 | €1,212 | €706 | -€506 | -41.8% |
| Tangible fixed assets | 22/27 | €1,212 | €706 | -€506 | -41.8% |
| Furniture and vehicles | 24 | €1,212 | €706 | -€506 | -41.8% |
| Current assets | 29/58 | €28,351 | €65,429 | +€37,078 | +131% |
| Amounts receivable within one year | 40/41 | €6,586 | €4,068 | -€2,518 | -38.2% |
| Trade receivables | 40 | €6,586 | €0 | -€6,586 | -100% |
| Other amounts receivable | 41 | - | €4,068 | +€4,068 | |
| Current investments | 50/53 | - | €6,500 | +€6,500 | |
| Cash at bank and in hand | 54/58 | €21,089 | €53,193 | +€32,104 | +152% |
| Deferred charges and accrued income | 490/1 | €676 | €1,668 | +€992 | +147% |
| Total equity and liabilities | 10/49 | €30,512 | €66,135 | +€35,624 | +117% |
| Equity | 10/15 | €19,866 | €26,623 | +€6,757 | +34.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €14,866 | €21,623 | +€6,757 | +45.5% |
| Distributable reserves | 133 | €14,866 | €21,623 | +€6,757 | +45.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €23,667 | +€23,667 | |
| Provisions for liabilities and charges | 160/5 | - | €23,667 | +€23,667 | |
| Other liabilities and charges | 164/5 | - | €23,667 | +€23,667 | |
| Amounts payable | 17/49 | €10,646 | €15,846 | +€5,200 | +48.8% |
| Amounts payable within one year | 42/48 | €10,646 | €15,846 | +€5,200 | +48.8% |
| Financial debts | 43 | - | €29 | +€29 | |
| Credit institutions | 430/8 | - | €29 | +€29 | |
| Trade debts | 44 | €1,044 | €1,282 | +€238 | +22.8% |
| Suppliers | 440/4 | €1,044 | €1,282 | +€238 | +22.8% |
| Taxes, remuneration and social security | 45 | €5,259 | €13,676 | +€8,417 | +160% |
| Taxes | 450/3 | €5,259 | €13,676 | +€8,417 | +160% |
| Other amounts payable | 47/48 | €4,343 | €859 | -€3,484 | -80.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,968 | €1,454 | -€1,513 | -51.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €23,667 | +€23,667 | |
| Other operating charges | 640/8 | €122 | €271 | +€149 | +123% |
| Gross operating margin | 9900 | €22,943 | €41,237 | +€18,295 | +79.7% |
| Operating profit (loss) | 9901 | €19,854 | €15,846 | -€4,008 | -20.2% |
| Financial income | 75/76B | €44 | €466 | +€422 | +968% |
| Recurring financial income | 75 | €44 | €466 | +€422 | +968% |
| Financial charges | 65/66B | €4 | €112 | +€108 | +2,535% |
| Recurring financial charges | 65 | €4 | €112 | +€108 | +2,535% |
| Profit (loss) for the period before taxes | 9903 | €19,893 | €16,199 | -€3,694 | -18.6% |
| Income taxes | 67/77 | €4,168 | €8,583 | +€4,415 | +106% |
| Profit (loss) for the period | 9904 | €15,725 | €7,616 | -€8,109 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,725 | €7,616 | -€8,109 | -51.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.