B4E: 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.
B4E
Largest movements
- Tangible fixed assets -€55,847
down €55,847 (-12.4%), from €449,817 to €393,970
of which Land and buildings: -€42,505
- Cash -€31,326
down €31,326 (-38.0%), from €82,472 to €51,146
mainly Net result for the year (-€113,026) and Debts after one year (-€32,500)
- Receivables within one year +€22,325
up €22,325 (+28.9%), from €77,283 to €99,608
of which Trade receivables: +€12,032
- Deferred charges and accrued income -€14,224
down €14,224 (-92.6%), from €15,359 to €1,135
- Profit (loss) carried forward -€113,026
down €113,026, from €71,083 to -€41,943
- Other debts +€56,470
up €56,470 (+540.8%), from €10,442 to €66,911
- Debts after one year -€32,500
down €32,500 (-7.3%), from €447,242 to €414,742
- Trade debts +€22,737
up €22,737 (+632.8%), from €3,593 to €26,330
- Tax, wage and social debts -€14,718
down €14,718 (-30.9%), from €47,628 to €32,910
- Gross operating margin -€214,510
down €214,510 (-85.4%), from €251,205 to €36,695
- Financial charges +€78,201
up €78,201 (+2680.1%), from €2,918 to €81,119
- Taxes -€57,070
down €57,070 (-99.1%), from €57,560 to €489
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 | €906,894 | €827,822 | -€79,072 | -8.7% |
| Fixed assets | 21/28 | €731,780 | €675,933 | -€55,847 | -7.6% |
| Tangible fixed assets | 22/27 | €449,817 | €393,970 | -€55,847 | -12.4% |
| Land and buildings | 22 | €421,634 | €379,129 | -€42,505 | -10.1% |
| Plant, machinery and equipment | 23 | €4,531 | €3,404 | -€1,126 | -24.9% |
| Furniture and vehicles | 24 | €23,653 | €11,436 | -€12,217 | -51.7% |
| Financial fixed assets | 28 | €281,963 | €281,963 | = | 0.0% |
| Current assets | 29/58 | €175,114 | €151,889 | -€23,225 | -13.3% |
| Amounts receivable within one year | 40/41 | €77,283 | €99,608 | +€22,325 | +28.9% |
| Trade receivables | 40 | €63,065 | €75,097 | +€12,032 | +19.1% |
| Other amounts receivable | 41 | €14,218 | €24,511 | +€10,293 | +72.4% |
| Cash at bank and in hand | 54/58 | €82,472 | €51,146 | -€31,326 | -38.0% |
| Deferred charges and accrued income | 490/1 | €15,359 | €1,135 | -€14,224 | -92.6% |
| Total equity and liabilities | 10/49 | €906,894 | €827,822 | -€79,072 | -8.7% |
| Equity | 10/15 | €365,190 | €252,164 | -€113,026 | -30.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €287,907 | €287,907 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3 | €3 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3 | €3 | = | 0.0% |
| Distributable reserves | 133 | €287,904 | €287,904 | = | 0.0% |
| Profit (loss) carried forward | 14 | €71,083 | -€41,943 | -€113,026 | |
| Amounts payable | 17/49 | €541,704 | €575,658 | +€33,954 | +6.3% |
| Amounts payable after more than one year | 17 | €447,242 | €414,742 | -€32,500 | -7.3% |
| Financial debts | 170/4 | €447,242 | €414,742 | -€32,500 | -7.3% |
| Amounts payable within one year | 42/48 | €94,462 | €160,916 | +€66,454 | +70.3% |
| Current portion of amounts payable after more than one year | 42 | €32,800 | €34,765 | +€1,965 | +6.0% |
| Trade debts | 44 | €3,593 | €26,330 | +€22,737 | +632.8% |
| Suppliers | 440/4 | €3,593 | €26,330 | +€22,737 | +632.8% |
| Taxes, remuneration and social security | 45 | €47,628 | €32,910 | -€14,718 | -30.9% |
| Taxes | 450/3 | €47,628 | €32,910 | -€14,718 | -30.9% |
| Other amounts payable | 47/48 | €10,442 | €66,911 | +€56,470 | +540.8% |
| Remuneration, social security and pensions | 62 | - | €612 | +€612 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,290 | €59,177 | -€2,113 | -3.4% |
| Other operating charges | 640/8 | €9,714 | €8,330 | -€1,384 | -14.2% |
| Gross operating margin | 9900 | €251,205 | €36,695 | -€214,510 | -85.4% |
| Operating profit (loss) | 9901 | €180,201 | -€31,424 | -€211,624 | |
| Financial income | 75/76B | €2 | €6 | +€5 | +305.3% |
| Recurring financial income | 75 | €2 | €6 | +€5 | +305.3% |
| Financial charges | 65/66B | €2,918 | €81,119 | +€78,201 | +2680.1% |
| Recurring financial charges | 65 | €2,918 | €81,119 | +€78,201 | +2680.1% |
| Profit (loss) for the period before taxes | 9903 | €177,285 | -€112,536 | -€289,821 | |
| Income taxes | 67/77 | €57,560 | €489 | -€57,070 | -99.1% |
| Profit (loss) for the period | 9904 | €119,725 | -€113,026 | -€232,751 | |
| Profit (loss) for the period to be appropriated | 9905 | €119,725 | -€113,026 | -€232,751 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.