A4i: 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.
A4i
Largest movements
- Receivables within one year -€86,769
down €86,769 (-58.6%), from €148,185 to €61,416
of which Trade receivables: -€85,697
- Cash +€36,615
up €36,615 (+142.0%), from €25,788 to €62,403
mainly Receivables within one year (+€86,769) and Net result for the year (+€33,736)
- Tangible fixed assets -€11,258
down €11,258 (-4.3%), from €259,566 to €248,308
of which Land and buildings: -€6,927
- Other debts -€60,764
down €60,764 (-62.2%), from €97,643 to €36,879
- Debts after one year -€12,967
down €12,967 (-6.9%), from €189,190 to €176,223
- Accrued charges and deferred income +€7,284
up €7,284 (+267.3%), from €2,725 to €10,009
- Short-term financial debts +€5,531
up €5,531 (+68.8%), from €8,041 to €13,572
- Gross operating margin -€35,510
down €35,510 (-6.3%), from €564,182 to €528,672
- Staff costs +€29,521
up €29,521 (+7.5%), from €391,432 to €420,953
- Depreciation +€6,500
up €6,500 (+28.3%), from €22,972 to €29,473
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 | €454,161 | €393,289 | -€60,871 | -13.4% |
| Fixed assets | 21/28 | €259,939 | €250,914 | -€9,025 | -3.5% |
| Intangible fixed assets | 21 | - | €2,233 | +€2,233 | |
| Tangible fixed assets | 22/27 | €259,566 | €248,308 | -€11,258 | -4.3% |
| Land and buildings | 22 | €227,956 | €221,029 | -€6,927 | -3.0% |
| Furniture and vehicles | 24 | €31,611 | €27,280 | -€4,331 | -13.7% |
| Financial fixed assets | 28 | €373 | €373 | = | 0.0% |
| Current assets | 29/58 | €194,222 | €142,375 | -€51,846 | -26.7% |
| Amounts receivable within one year | 40/41 | €148,185 | €61,416 | -€86,769 | -58.6% |
| Trade receivables | 40 | €108,520 | €22,823 | -€85,697 | -79.0% |
| Other amounts receivable | 41 | €39,665 | €38,593 | -€1,072 | -2.7% |
| Cash at bank and in hand | 54/58 | €25,788 | €62,403 | +€36,615 | +142.0% |
| Deferred charges and accrued income | 490/1 | €20,249 | €18,557 | -€1,692 | -8.4% |
| Total equity and liabilities | 10/49 | €454,161 | €393,289 | -€60,871 | -13.4% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| 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 | €0 | €0 | = | |
| Amounts payable | 17/49 | €433,701 | €372,829 | -€60,871 | -14.0% |
| Amounts payable after more than one year | 17 | €189,190 | €176,223 | -€12,967 | -6.9% |
| Financial debts | 170/4 | €189,190 | €176,223 | -€12,967 | -6.9% |
| Amounts payable within one year | 42/48 | €241,786 | €186,597 | -€55,189 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €12,680 | €12,967 | +€287 | +2.3% |
| Financial debts | 43 | €8,041 | €13,572 | +€5,531 | +68.8% |
| Credit institutions | 430/8 | €8,041 | €13,572 | +€5,531 | +68.8% |
| Trade debts | 44 | €79,173 | €75,169 | -€4,004 | -5.1% |
| Suppliers | 440/4 | €79,173 | €75,169 | -€4,004 | -5.1% |
| Taxes, remuneration and social security | 45 | €44,250 | €48,011 | +€3,761 | +8.5% |
| Taxes | 450/3 | €8,737 | €1,115 | -€7,622 | -87.2% |
| Remuneration and social security | 454/9 | €35,513 | €46,896 | +€11,383 | +32.1% |
| Other amounts payable | 47/48 | €97,643 | €36,879 | -€60,764 | -62.2% |
| Accrued charges and deferred income | 492/3 | €2,725 | €10,009 | +€7,284 | +267.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €391,432 | €420,953 | +€29,521 | +7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,972 | €29,473 | +€6,500 | +28.3% |
| Other operating charges | 640/8 | €16,870 | €12,176 | -€4,695 | -27.8% |
| Non-recurring operating charges | 66A | €4 | €2,530 | +€2,525 | +58590.0% |
| Gross operating margin | 9900 | €564,182 | €528,672 | -€35,510 | -6.3% |
| Operating profit (loss) | 9901 | €132,903 | €63,542 | -€69,362 | -52.2% |
| Financial income | 75/76B | €979 | €291 | -€688 | -70.3% |
| Recurring financial income | 75 | €979 | €291 | -€688 | -70.3% |
| Financial charges | 65/66B | €11,784 | €10,471 | -€1,314 | -11.1% |
| Recurring financial charges | 65 | €11,784 | €10,471 | -€1,314 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €122,098 | €53,362 | -€68,736 | -56.3% |
| Income taxes | 67/77 | €24,470 | €19,626 | -€4,844 | -19.8% |
| Profit (loss) for the period | 9904 | €97,628 | €33,736 | -€63,892 | -65.4% |
| Profit (loss) for the period to be appropriated | 9905 | €97,628 | €33,736 | -€63,892 | -65.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.