4WORTH: 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.
4WORTH
Largest movements
- Receivables within one year -€20,597
down €20,597 (-16.4%), from €125,791 to €105,193
of which Trade receivables: -€10,780
- Tangible fixed assets +€8,332
up €8,332 (+20.8%), from €40,142 to €48,474
of which Other tangible fixed assets: +€7,852
- Deferred charges and accrued income +€4,811
up €4,811 (+776.8%), from €619 to €5,430
- Profit (loss) carried forward +€82,279
up €82,279 (+29.0%), from €283,520 to €365,799
- Other debts -€75,000
no longer reported in 2025 (was €75,000)
- Tax, wage and social debts -€21,777
down €21,777 (-42.8%), from €50,885 to €29,108
of which Taxes: -€16,930
- Gross operating margin -€66,371
down €66,371 (-34.5%), from €192,326 to €125,956
- Taxes -€16,437
down €16,437 (-36.1%), from €45,546 to €29,108
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 | €430,777 | €417,649 | -€13,128 | -3.0% |
| Fixed assets | 21/28 | €265,142 | €273,474 | +€8,332 | +3.1% |
| Tangible fixed assets | 22/27 | €40,142 | €48,474 | +€8,332 | +20.8% |
| Furniture and vehicles | 24 | €37,083 | €37,563 | +€480 | +1.3% |
| Other tangible fixed assets | 26 | €3,059 | €10,911 | +€7,852 | +256.7% |
| Financial fixed assets | 28 | €225,000 | €225,000 | = | 0.0% |
| Current assets | 29/58 | €165,634 | €144,175 | -€21,460 | -13.0% |
| Stocks and contracts in progress | 3 | €2,355 | - | -€2,355 | |
| Stocks | 30/36 | €2,355 | - | -€2,355 | |
| Amounts receivable within one year | 40/41 | €125,791 | €105,193 | -€20,597 | -16.4% |
| Trade receivables | 40 | €63,729 | €52,949 | -€10,780 | -16.9% |
| Other amounts receivable | 41 | €62,062 | €52,244 | -€9,817 | -15.8% |
| Cash at bank and in hand | 54/58 | €36,869 | €33,551 | -€3,318 | -9.0% |
| Deferred charges and accrued income | 490/1 | €619 | €5,430 | +€4,811 | +776.8% |
| Total equity and liabilities | 10/49 | €430,777 | €417,649 | -€13,128 | -3.0% |
| Equity | 10/15 | €303,980 | €386,259 | +€82,279 | +27.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €283,520 | €365,799 | +€82,279 | +29.0% |
| Amounts payable | 17/49 | €126,796 | €31,390 | -€95,407 | -75.2% |
| Amounts payable within one year | 42/48 | €126,796 | €31,390 | -€95,407 | -75.2% |
| Trade debts | 44 | €912 | €2,282 | +€1,370 | +150.3% |
| Suppliers | 440/4 | €912 | €2,282 | +€1,370 | +150.3% |
| Taxes, remuneration and social security | 45 | €50,885 | €29,108 | -€21,777 | -42.8% |
| Taxes | 450/3 | €46,038 | €29,108 | -€16,930 | -36.8% |
| Remuneration and social security | 454/9 | €4,847 | - | -€4,847 | |
| Other amounts payable | 47/48 | €75,000 | - | -€75,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,257 | €13,479 | +€1,222 | +10.0% |
| Other operating charges | 640/8 | €1,225 | €759 | -€467 | -38.1% |
| Gross operating margin | 9900 | €192,326 | €125,956 | -€66,371 | -34.5% |
| Operating profit (loss) | 9901 | €178,844 | €111,718 | -€67,126 | -37.5% |
| Financial income | 75/76B | €667 | - | -€667 | |
| Recurring financial income | 75 | €667 | - | -€667 | |
| Financial charges | 65/66B | €246 | €331 | +€85 | +34.7% |
| Recurring financial charges | 65 | €246 | €331 | +€85 | +34.7% |
| Profit (loss) for the period before taxes | 9903 | €179,265 | €111,387 | -€67,878 | -37.9% |
| Income taxes | 67/77 | €45,546 | €29,108 | -€16,437 | -36.1% |
| Profit (loss) for the period | 9904 | €133,719 | €82,279 | -€51,440 | -38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €133,719 | €82,279 | -€51,440 | -38.5% |
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 10 October 2026 via checked.be.