A4Value: 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.
A4Value
Largest movements
- Cash +€92,873
up €92,873 (+50.3%), from €184,617 to €277,491
mainly Net result for the year (+€176,926) and Depreciation (+€7,303)
- Tangible fixed assets +€32,741
up €32,741 (+1185.2%), from €2,762 to €35,503
of which Furniture and vehicles: +€29,811
- Receivables within one year +€29,116
up €29,116 (+140.0%), from €20,797 to €49,913
of which Trade receivables: +€29,200
- Reserves +€176,926
up €176,926 (+58.3%), from €303,501 to €480,427
- Tax, wage and social debts -€16,937
down €16,937 (-14.0%), from €120,623 to €103,685
- Gross operating margin +€46,964
up €46,964 (+22.7%), from €207,069 to €254,034
- Taxes +€14,195
up €14,195 (+22.9%), from €62,018 to €76,214
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 | €429,190 | €589,153 | +€159,963 | +37.3% |
| Fixed assets | 21/28 | €2,762 | €35,503 | +€32,741 | +1185.2% |
| Tangible fixed assets | 22/27 | €2,762 | €35,503 | +€32,741 | +1185.2% |
| Furniture and vehicles | 24 | €2,762 | €32,574 | +€29,811 | +1079.2% |
| Other tangible fixed assets | 26 | - | €2,929 | +€2,929 | |
| Current assets | 29/58 | €426,427 | €553,649 | +€127,222 | +29.8% |
| Amounts receivable within one year | 40/41 | €20,797 | €49,913 | +€29,116 | +140.0% |
| Trade receivables | 40 | €20,712 | €49,913 | +€29,200 | +141.0% |
| Other amounts receivable | 41 | €84 | - | -€84 | |
| Current investments | 50/53 | €220,358 | €225,857 | +€5,499 | +2.5% |
| Cash at bank and in hand | 54/58 | €184,617 | €277,491 | +€92,873 | +50.3% |
| Deferred charges and accrued income | 490/1 | €655 | €389 | -€266 | -40.6% |
| Total equity and liabilities | 10/49 | €429,190 | €589,153 | +€159,963 | +37.3% |
| Equity | 10/15 | €308,501 | €485,427 | +€176,926 | +57.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €303,501 | €480,427 | +€176,926 | +58.3% |
| Distributable reserves | 133 | €303,501 | €480,427 | +€176,926 | +58.3% |
| Amounts payable | 17/49 | €120,688 | €103,725 | -€16,963 | -14.1% |
| Amounts payable within one year | 42/48 | €120,688 | €103,725 | -€16,963 | -14.1% |
| Trade debts | 44 | €66 | €28 | -€37 | -56.9% |
| Suppliers | 440/4 | €66 | €28 | -€37 | -56.9% |
| Taxes, remuneration and social security | 45 | €120,623 | €103,685 | -€16,937 | -14.0% |
| Taxes | 450/3 | €120,623 | €103,685 | -€16,937 | -14.0% |
| Other amounts payable | 47/48 | - | €11 | +€11 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,658 | €7,303 | -€355 | -4.6% |
| Other operating charges | 640/8 | €585 | €554 | -€32 | -5.4% |
| Gross operating margin | 9900 | €207,069 | €254,034 | +€46,964 | +22.7% |
| Operating profit (loss) | 9901 | €198,827 | €246,177 | +€47,351 | +23.8% |
| Financial income | 75/76B | €4,983 | €7,052 | +€2,070 | +41.5% |
| Recurring financial income | 75 | €4,983 | €7,052 | +€2,070 | +41.5% |
| Financial charges | 65/66B | €89 | €90 | +€2 | +1.7% |
| Recurring financial charges | 65 | €89 | €90 | +€2 | +1.7% |
| Profit (loss) for the period before taxes | 9903 | €203,721 | €253,140 | +€49,419 | +24.3% |
| Income taxes | 67/77 | €62,018 | €76,214 | +€14,195 | +22.9% |
| Profit (loss) for the period | 9904 | €141,703 | €176,926 | +€35,223 | +24.9% |
| Profit (loss) for the period to be appropriated | 9905 | €141,703 | €176,926 | +€35,223 | +24.9% |
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 9 October 2026 via checked.be.