BO4: 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.
BO4
Largest movements
- Cash +€8,479
up €8,479 (+152%), from €5,584 to €14,063
mainly Other debts (+€86,742) and Advances received (+€13,532)
- Receivables within one year -€6,901
down €6,901 (-9.0%), from €76,888 to €69,987
of which Other amounts receivable: -€13,824
- Tangible fixed assets -€6,119
down €6,119 (-67.4%), from €9,081 to €2,962
of which Plant, machinery and equipment: -€5,056
- Stocks and contracts -€6,071
down €6,071 (-1.2%), from €507,751 to €501,680
- Trade debts -€98,574
down €98,574 (-44.9%), from €219,483 to €120,909
- Other debts +€86,742
up €86,742 (+17.3%), from €502,585 to €589,327
- Advances received +€13,532
up €13,532 (+74.9%), from €18,063 to €31,595
- Current portion of long-term debt -€10,659
down €10,659 (-83.0%), from €12,840 to €2,181
- Gross operating margin +€88,149
up €88,149 (+107%), from €82,313 to €170,462
- Write-downs +€64,000
new in 2025: €64,000
- Depreciation -€7,868
down €7,868 (-56.3%), from €13,987 to €6,119
- Staff costs +€7,338
up €7,338 (+10.5%), from €70,212 to €77,550
- Financial charges +€4,718
up €4,718 (+28.8%), from €16,406 to €21,124
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 | €603,846 | €593,256 | -€10,590 | -1.8% |
| Fixed assets | 21/28 | €12,881 | €6,762 | -€6,119 | -47.5% |
| Tangible fixed assets | 22/27 | €9,081 | €2,962 | -€6,119 | -67.4% |
| Plant, machinery and equipment | 23 | €7,004 | €1,948 | -€5,056 | -72.2% |
| Furniture and vehicles | 24 | €2,077 | €1,013 | -€1,063 | -51.2% |
| Financial fixed assets | 28 | €3,800 | €3,800 | = | 0.0% |
| Current assets | 29/58 | €590,965 | €586,494 | -€4,471 | -0.8% |
| Stocks and contracts in progress | 3 | €507,751 | €501,680 | -€6,071 | -1.2% |
| Stocks | 30/36 | €507,751 | €501,680 | -€6,071 | -1.2% |
| Amounts receivable within one year | 40/41 | €76,888 | €69,987 | -€6,901 | -9.0% |
| Trade receivables | 40 | €54,968 | €61,891 | +€6,923 | +12.6% |
| Other amounts receivable | 41 | €21,920 | €8,097 | -€13,824 | -63.1% |
| Cash at bank and in hand | 54/58 | €5,584 | €14,063 | +€8,479 | +152% |
| Deferred charges and accrued income | 490/1 | €742 | €764 | +€22 | +2.9% |
| Total equity and liabilities | 10/49 | €603,846 | €593,256 | -€10,590 | -1.8% |
| Equity | 10/15 | -€236,874 | -€236,774 | +€100 | 0.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€256,874 | -€256,774 | +€100 | 0.0% |
| Amounts payable | 17/49 | €840,719 | €830,030 | -€10,689 | -1.3% |
| Amounts payable after more than one year | 17 | €365 | €0 | -€365 | -100% |
| Financial debts | 170/4 | €365 | €0 | -€365 | -100% |
| Amounts payable within one year | 42/48 | €838,800 | €827,330 | -€11,470 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €12,840 | €2,181 | -€10,659 | -83.0% |
| Financial debts | 43 | €25,000 | €25,000 | = | 0.0% |
| Credit institutions | 430/8 | €25,000 | €25,000 | = | 0.0% |
| Trade debts | 44 | €219,483 | €120,909 | -€98,574 | -44.9% |
| Suppliers | 440/4 | €219,483 | €120,909 | -€98,574 | -44.9% |
| Advances received on contracts in progress | 46 | €18,063 | €31,595 | +€13,532 | +74.9% |
| Taxes, remuneration and social security | 45 | €60,829 | €58,319 | -€2,510 | -4.1% |
| Taxes | 450/3 | €47,229 | €46,248 | -€981 | -2.1% |
| Remuneration and social security | 454/9 | €13,600 | €12,070 | -€1,530 | -11.2% |
| Other amounts payable | 47/48 | €502,585 | €589,327 | +€86,742 | +17.3% |
| Accrued charges and deferred income | 492/3 | €1,554 | €2,700 | +€1,146 | +73.7% |
| Remuneration, social security and pensions | 62 | €70,212 | €77,550 | +€7,338 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,987 | €6,119 | -€7,868 | -56.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €64,000 | +€64,000 | |
| Other operating charges | 640/8 | €6,755 | €2,520 | -€4,235 | -62.7% |
| Gross operating margin | 9900 | €82,313 | €170,462 | +€88,149 | +107% |
| Operating profit (loss) | 9901 | -€8,642 | €20,272 | +€28,914 | |
| Financial income | 75/76B | €858 | €952 | +€94 | +10.9% |
| Recurring financial income | 75 | €858 | €952 | +€94 | +10.9% |
| Financial charges | 65/66B | €16,406 | €21,124 | +€4,718 | +28.8% |
| Recurring financial charges | 65 | €16,406 | €21,124 | +€4,718 | +28.8% |
| Profit (loss) for the period before taxes | 9903 | -€24,190 | €100 | +€24,290 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€24,190 | €100 | +€24,290 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,190 | €100 | +€24,290 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.