B4S: 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.
B4S
Largest movements
- Cash +€74,841
up €74,841 (+91.9%), from €81,458 to €156,299
mainly Provisions (+€49,294) and Receivables within one year (+€28,469)
- Receivables within one year -€28,469
down €28,469 (-32.4%), from €87,995 to €59,527
of which Trade receivables: -€28,819
- Current investments +€20,000
up €20,000 (+10.8%), from €184,950 to €204,950
- Tangible fixed assets -€11,330
down €11,330 (-24.3%), from €46,641 to €35,311
of which Furniture and vehicles: -€9,070
- Provisions +€49,294
up €49,294 (+56.7%), from €87,000 to €136,294
- Provisions +€68,754
up €68,754, from -€19,460 to €49,294
- Gross operating margin +€17,328
up €17,328 (+10.5%), from €165,359 to €182,687
- Financial charges -€12,254
down €12,254 (-11.6%), from €105,671 to €93,417
- Other operating charges -€9,063
down €9,063 (-78.7%), from €11,519 to €2,456
- Taxes +€5,327
up €5,327 (+52.1%), from €10,215 to €15,542
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 | €405,518 | €460,953 | +€55,434 | +13.7% |
| Fixed assets | 21/28 | €46,641 | €35,311 | -€11,330 | -24.3% |
| Tangible fixed assets | 22/27 | €46,641 | €35,311 | -€11,330 | -24.3% |
| Plant, machinery and equipment | 23 | €469 | €159 | -€310 | -66.2% |
| Furniture and vehicles | 24 | €43,316 | €34,246 | -€9,070 | -20.9% |
| Other tangible fixed assets | 26 | €2,856 | €906 | -€1,950 | -68.3% |
| Current assets | 29/58 | €358,877 | €425,642 | +€66,765 | +18.6% |
| Amounts receivable within one year | 40/41 | €87,995 | €59,527 | -€28,469 | -32.4% |
| Trade receivables | 40 | €82,267 | €53,448 | -€28,819 | -35.0% |
| Other amounts receivable | 41 | €5,729 | €6,079 | +€351 | +6.1% |
| Current investments | 50/53 | €184,950 | €204,950 | +€20,000 | +10.8% |
| Cash at bank and in hand | 54/58 | €81,458 | €156,299 | +€74,841 | +91.9% |
| Deferred charges and accrued income | 490/1 | €4,474 | €4,866 | +€392 | +8.8% |
| Total equity and liabilities | 10/49 | €405,518 | €460,953 | +€55,434 | +13.7% |
| Equity | 10/15 | €302,968 | €305,908 | +€2,940 | +1.0% |
| Contributions | 10/11 | €9,346 | €9,346 | = | 0.0% |
| Reserves | 13 | €293,623 | €296,562 | +€2,940 | +1.0% |
| Distributable reserves | 133 | €293,623 | €296,562 | +€2,940 | +1.0% |
| Provisions and deferred taxes | 16 | €87,000 | €136,294 | +€49,294 | +56.7% |
| Provisions for liabilities and charges | 160/5 | €87,000 | €136,294 | +€49,294 | +56.7% |
| Other liabilities and charges | 164/5 | €87,000 | €136,294 | +€49,294 | +56.7% |
| Amounts payable | 17/49 | €15,550 | €18,750 | +€3,201 | +20.6% |
| Amounts payable within one year | 42/48 | €15,550 | €18,750 | +€3,201 | +20.6% |
| Trade debts | 44 | €411 | €811 | +€401 | +97.5% |
| Suppliers | 440/4 | €411 | €811 | +€401 | +97.5% |
| Taxes, remuneration and social security | 45 | €15,139 | €17,939 | +€2,800 | +18.5% |
| Taxes | 450/3 | €15,139 | €17,939 | +€2,800 | +18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,651 | €19,434 | -€5,217 | -21.2% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€19,460 | €49,294 | +€68,754 | |
| Other operating charges | 640/8 | €11,519 | €2,456 | -€9,063 | -78.7% |
| Gross operating margin | 9900 | €165,359 | €182,687 | +€17,328 | +10.5% |
| Operating profit (loss) | 9901 | €148,649 | €111,503 | -€37,146 | -25.0% |
| Financial income | 75/76B | €379 | €395 | +€17 | +4.5% |
| Recurring financial income | 75 | €379 | €395 | +€17 | +4.5% |
| Financial charges | 65/66B | €105,671 | €93,417 | -€12,254 | -11.6% |
| Recurring financial charges | 65 | €105,671 | €93,417 | -€12,254 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €43,357 | €18,481 | -€24,876 | -57.4% |
| Income taxes | 67/77 | €10,215 | €15,542 | +€5,327 | +52.1% |
| Profit (loss) for the period | 9904 | €33,142 | €2,940 | -€30,203 | -91.1% |
| Profit (loss) for the period to be appropriated | 9905 | €33,142 | €2,940 | -€30,203 | -91.1% |
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 13 October 2026 via checked.be.