A4ME: 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.
A4ME
Largest movements
- Receivables within one year -€19,834
down €19,834 (-59.9%), from €33,106 to €13,272
of which Trade receivables: -€20,920
- Cash +€12,706
up €12,706 (+10.3%), from €123,398 to €136,104
mainly Receivables within one year (+€19,834) and Net result for the year (+€17,262)
- Tangible fixed assets +€7,791
up €7,791 (+5.0%), from €157,066 to €164,857
of which Furniture and vehicles: +€6,434
- Deferred charges and accrued income -€5,959
down €5,959 (-97.1%), from €6,138 to €179
- Reserves -€12,738
down €12,738 (-7.9%), from €161,378 to €148,640
of which Distributable reserves: -€12,738
- Debts after one year -€12,663
down €12,663 (-11.9%), from €106,193 to €93,530
- Other debts +€11,207
new in 2025: €11,207
- Tax, wage and social debts +€4,619
up €4,619 (+30.8%), from €14,991 to €19,610
of which Taxes: +€3,400
- Short-term financial debts +€4,500
up €4,500 (+90.0%), from €5,000 to €9,500
- Gross operating margin -€11,903
down €11,903 (-20.5%), from €58,203 to €46,300
- Financial charges +€6,427
up €6,427 (+220%), from €2,918 to €9,345
of which Non-recurring financial charges: +€6,196
- Taxes -€4,926
down €4,926 (-43.4%), from €11,353 to €6,427
- Other operating charges -€1,169
down €1,169 (-72.5%), from €1,612 to €443
- Depreciation +€948
up €948 (+7.9%), from €11,966 to €12,914
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.
Derived cash bridge
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 | €319,708 | €314,412 | -€5,296 | -1.7% |
| Fixed assets | 21/28 | €157,066 | €164,857 | +€7,791 | +5.0% |
| Tangible fixed assets | 22/27 | €157,066 | €164,857 | +€7,791 | +5.0% |
| Land and buildings | 22 | €152,678 | €150,834 | -€1,844 | -1.2% |
| Plant, machinery and equipment | 23 | €2,604 | €5,805 | +€3,201 | +123% |
| Furniture and vehicles | 24 | €1,784 | €8,218 | +€6,434 | +361% |
| Current assets | 29/58 | €162,642 | €149,555 | -€13,087 | -8.0% |
| Amounts receivable within one year | 40/41 | €33,106 | €13,272 | -€19,834 | -59.9% |
| Trade receivables | 40 | €32,108 | €11,188 | -€20,920 | -65.2% |
| Other amounts receivable | 41 | €998 | €2,084 | +€1,086 | +109% |
| Cash at bank and in hand | 54/58 | €123,398 | €136,104 | +€12,706 | +10.3% |
| Deferred charges and accrued income | 490/1 | €6,138 | €179 | -€5,959 | -97.1% |
| Total equity and liabilities | 10/49 | €319,708 | €314,412 | -€5,296 | -1.7% |
| Equity | 10/15 | €179,978 | €167,240 | -€12,738 | -7.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €161,378 | €148,640 | -€12,738 | -7.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,563 | €12,563 | = | 0.0% |
| Distributable reserves | 133 | €146,955 | €134,217 | -€12,738 | -8.7% |
| Amounts payable | 17/49 | €139,730 | €147,172 | +€7,442 | +5.3% |
| Amounts payable after more than one year | 17 | €106,193 | €93,530 | -€12,663 | -11.9% |
| Financial debts | 170/4 | €106,193 | €93,530 | -€12,663 | -11.9% |
| Amounts payable within one year | 42/48 | €33,537 | €53,642 | +€20,105 | +59.9% |
| Current portion of amounts payable after more than one year | 42 | €12,416 | €12,662 | +€246 | +2.0% |
| Financial debts | 43 | €5,000 | €9,500 | +€4,500 | +90.0% |
| Credit institutions | 430/8 | €5,000 | €9,500 | +€4,500 | +90.0% |
| Trade debts | 44 | €1,130 | €663 | -€467 | -41.3% |
| Suppliers | 440/4 | €1,130 | €663 | -€467 | -41.3% |
| Taxes, remuneration and social security | 45 | €14,991 | €19,610 | +€4,619 | +30.8% |
| Taxes | 450/3 | €13,723 | €17,123 | +€3,400 | +24.8% |
| Remuneration and social security | 454/9 | €1,268 | €2,487 | +€1,219 | +96.1% |
| Other amounts payable | 47/48 | - | €11,207 | +€11,207 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,966 | €12,914 | +€948 | +7.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €840 | - | -€840 | |
| Other operating charges | 640/8 | €1,612 | €443 | -€1,169 | -72.5% |
| Gross operating margin | 9900 | €58,203 | €46,300 | -€11,903 | -20.5% |
| Operating profit (loss) | 9901 | €43,785 | €32,943 | -€10,842 | -24.8% |
| Financial income | 75/76B | €10 | €91 | +€81 | +810% |
| Recurring financial income | 75 | €10 | €91 | +€81 | +810% |
| Financial charges | 65/66B | €2,918 | €9,345 | +€6,427 | +220% |
| Recurring financial charges | 65 | €2,918 | €3,149 | +€231 | +7.9% |
| Non-recurring financial charges | 66B | - | €6,196 | +€6,196 | |
| Profit (loss) for the period before taxes | 9903 | €40,877 | €23,689 | -€17,188 | -42.0% |
| Income taxes | 67/77 | €11,353 | €6,427 | -€4,926 | -43.4% |
| Profit (loss) for the period | 9904 | €29,524 | €17,262 | -€12,262 | -41.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,524 | €17,262 | -€12,262 | -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 14 October 2026 via checked.be.