4WATT: what changed
Two fiscal 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.
4WATT
Largest movements
- Current investments +€40,000
new in 2025: €40,000
- Tangible fixed assets -€39,740
down €39,740 (-7.7%), from €514,765 to €475,025
of which Land and buildings: -€39,740
- Cash -€31,065
down €31,065 (-54.3%), from €57,244 to €26,180
mainly Debts after one year (-€41,228) and Current investments (-€40,000)
- Debts after one year -€41,228
down €41,228 (-8.2%), from €503,610 to €462,382
- Other debts +€16,941
new in 2025: €16,941
- Reserves -€9,178
down €9,178 (-100.0%), from €9,178 to €0
- Taxes +€2,526
up €2,526 (+77.2%), from €3,271 to €5,797
- Gross operating margin +€1,549
up €1,549 (+1.8%), from €87,013 to €88,562
- Financial income -€1,083
down €1,083 (-93.1%), from €1,164 to €81
- Financial charges -€921
down €921 (-7.8%), from €11,804 to €10,883
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 | €576,277 | €541,205 | -€35,073 | -6.1% |
| Fixed assets | 21/28 | €514,765 | €475,025 | -€39,740 | -7.7% |
| Tangible fixed assets | 22/27 | €514,765 | €475,025 | -€39,740 | -7.7% |
| Land and buildings | 22 | €514,765 | €475,025 | -€39,740 | -7.7% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Current assets | 29/58 | €61,512 | €66,180 | +€4,668 | +7.6% |
| Amounts receivable within one year | 40/41 | €4,268 | €0 | -€4,268 | -100.0% |
| Trade receivables | 40 | €2,674 | €0 | -€2,674 | -100.0% |
| Other amounts receivable | 41 | €1,594 | €0 | -€1,594 | -100.0% |
| Current investments | 50/53 | - | €40,000 | +€40,000 | |
| Cash at bank and in hand | 54/58 | €57,244 | €26,180 | -€31,065 | -54.3% |
| Total equity and liabilities | 10/49 | €576,277 | €541,205 | -€35,073 | -6.1% |
| Equity | 10/15 | €27,778 | €18,600 | -€9,178 | -33.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €9,178 | €0 | -€9,178 | -100.0% |
| Distributable reserves | 133 | €9,178 | €0 | -€9,178 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €548,500 | €522,605 | -€25,895 | -4.7% |
| Amounts payable after more than one year | 17 | €503,610 | €462,382 | -€41,228 | -8.2% |
| Financial debts | 170/4 | €503,610 | €462,382 | -€41,228 | -8.2% |
| Amounts payable within one year | 42/48 | €44,890 | €60,223 | +€15,333 | +34.2% |
| Current portion of amounts payable after more than one year | 42 | €42,966 | €41,228 | -€1,738 | -4.0% |
| Trade debts | 44 | €502 | €123 | -€379 | -75.4% |
| Suppliers | 440/4 | €502 | €123 | -€379 | -75.4% |
| Taxes, remuneration and social security | 45 | €1,422 | €1,930 | +€509 | +35.8% |
| Taxes | 450/3 | €1,422 | €1,930 | +€509 | +35.8% |
| Other amounts payable | 47/48 | - | €16,941 | +€16,941 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,740 | €39,740 | = | 0.0% |
| Other operating charges | 640/8 | €14,819 | €15,282 | +€463 | +3.1% |
| Gross operating margin | 9900 | €87,013 | €88,562 | +€1,549 | +1.8% |
| Operating profit (loss) | 9901 | €32,453 | €33,540 | +€1,086 | +3.3% |
| Financial income | 75/76B | €1,164 | €81 | -€1,083 | -93.1% |
| Recurring financial income | 75 | €1,164 | €81 | -€1,083 | -93.1% |
| Financial charges | 65/66B | €11,804 | €10,883 | -€921 | -7.8% |
| Recurring financial charges | 65 | €11,804 | €10,883 | -€921 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | €21,814 | €22,738 | +€924 | +4.2% |
| Income taxes | 67/77 | €3,271 | €5,797 | +€2,526 | +77.2% |
| Profit (loss) for the period | 9904 | €18,543 | €16,941 | -€1,601 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,543 | €16,941 | -€1,601 | -8.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.