A4G: 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.
A4G
Largest movements
- Cash -€30,303
down €30,303 (-31.6%), from €95,881 to €65,577
mainly Contributions, distributions and other (-€236,007) and Investment in fixed assets (net) (-€63,302)
- Tangible fixed assets +€25,821
up €25,821 (+5.7%), from €449,886 to €475,707
of which Furniture and vehicles: +€35,479
- Receivables within one year -€21,172
down €21,172 (-30.5%), from €69,419 to €48,247
of which Trade receivables: -€20,759
- Other debts +€201,503
up €201,503 (+1668.5%), from €12,077 to €213,580
- Reserves -€196,760
down €196,760 (-99.4%), from €198,007 to €1,247
- Debts after one year -€34,373
down €34,373 (-10.2%), from €337,922 to €303,549
of which Financial debts: -€33,203
- Trade debts -€19,507
down €19,507 (-92.0%), from €21,210 to €1,702
- Tax, wage and social debts +€16,809
up €16,809 (+111.8%), from €15,030 to €31,839
- Gross operating margin -€38,331
down €38,331 (-25.4%), from €151,205 to €112,873
- Depreciation -€28,372
down €28,372 (-43.1%), from €65,853 to €37,481
- Financial charges +€18,653
up €18,653 (+820.3%), from €2,274 to €20,927
- Taxes -€8,475
down €8,475 (-39.5%), from €21,452 to €12,977
- Financial income -€6,817
down €6,817 (-99.2%), from €6,870 to €53
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 | €619,050 | €596,163 | -€22,888 | -3.7% |
| Fixed assets | 21/28 | €449,886 | €475,707 | +€25,821 | +5.7% |
| Tangible fixed assets | 22/27 | €449,886 | €475,707 | +€25,821 | +5.7% |
| Land and buildings | 22 | €408,787 | €406,953 | -€1,834 | -0.4% |
| Plant, machinery and equipment | 23 | €25,493 | €17,669 | -€7,824 | -30.7% |
| Furniture and vehicles | 24 | €15,606 | €51,085 | +€35,479 | +227.3% |
| Current assets | 29/58 | €169,165 | €120,456 | -€48,709 | -28.8% |
| Amounts receivable within one year | 40/41 | €69,419 | €48,247 | -€21,172 | -30.5% |
| Trade receivables | 40 | €36,779 | €16,021 | -€20,759 | -56.4% |
| Other amounts receivable | 41 | €32,640 | €32,227 | -€413 | -1.3% |
| Cash at bank and in hand | 54/58 | €95,881 | €65,577 | -€30,303 | -31.6% |
| Deferred charges and accrued income | 490/1 | €3,865 | €6,632 | +€2,767 | +71.6% |
| Total equity and liabilities | 10/49 | €619,050 | €596,163 | -€22,888 | -3.7% |
| Equity | 10/15 | €198,626 | €1,847 | -€196,779 | -99.1% |
| Contributions | 10/11 | €600 | €600 | = | 0.0% |
| Reserves | 13 | €198,007 | €1,247 | -€196,760 | -99.4% |
| Distributable reserves | 133 | €198,007 | €1,247 | -€196,760 | -99.4% |
| Profit (loss) carried forward | 14 | €20 | €0 | -€20 | -100.0% |
| Amounts payable | 17/49 | €420,424 | €594,315 | +€173,891 | +41.4% |
| Amounts payable after more than one year | 17 | €337,922 | €303,549 | -€34,373 | -10.2% |
| Financial debts | 170/4 | €336,752 | €303,549 | -€33,203 | -9.9% |
| Other amounts payable | 178/9 | €1,170 | €0 | -€1,170 | -100.0% |
| Amounts payable within one year | 42/48 | €82,502 | €282,083 | +€199,581 | +241.9% |
| Current portion of amounts payable after more than one year | 42 | €32,248 | €33,203 | +€954 | +3.0% |
| Financial debts | 43 | €1,937 | €1,759 | -€178 | -9.2% |
| Credit institutions | 430/8 | €1,937 | €1,759 | -€178 | -9.2% |
| Trade debts | 44 | €21,210 | €1,702 | -€19,507 | -92.0% |
| Suppliers | 440/4 | €21,210 | €1,702 | -€19,507 | -92.0% |
| Taxes, remuneration and social security | 45 | €15,030 | €31,839 | +€16,809 | +111.8% |
| Taxes | 450/3 | €15,030 | €31,839 | +€16,809 | +111.8% |
| Other amounts payable | 47/48 | €12,077 | €213,580 | +€201,503 | +1668.5% |
| Accrued charges and deferred income | 492/3 | - | €8,684 | +€8,684 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,853 | €37,481 | -€28,372 | -43.1% |
| Other operating charges | 640/8 | €1,488 | €2,313 | +€825 | +55.4% |
| Gross operating margin | 9900 | €151,205 | €112,873 | -€38,331 | -25.4% |
| Operating profit (loss) | 9901 | €83,863 | €73,079 | -€10,784 | -12.9% |
| Financial income | 75/76B | €6,870 | €53 | -€6,817 | -99.2% |
| Recurring financial income | 75 | €6,870 | €53 | -€6,817 | -99.2% |
| Financial charges | 65/66B | €2,274 | €20,927 | +€18,653 | +820.3% |
| Recurring financial charges | 65 | €2,274 | €20,927 | +€18,653 | +820.3% |
| Profit (loss) for the period before taxes | 9903 | €88,459 | €52,205 | -€36,254 | -41.0% |
| Income taxes | 67/77 | €21,452 | €12,977 | -€8,475 | -39.5% |
| Profit (loss) for the period | 9904 | €67,007 | €39,228 | -€27,779 | -41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €67,007 | €39,228 | -€27,779 | -41.5% |
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 12 October 2026 via checked.be.