CODE4: 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.
CODE4
Largest movements
- Cash +€38,419
up €38,419 (+182%), from €21,161 to €59,580
mainly Net result for the year (+€70,564) and Other debts (+€50,000)
- Intangible fixed assets +€36,396
up €36,396 (+147%), from €24,785 to €61,181
- Receivables within one year +€26,188
up €26,188, from €0 to €26,188
of which Other amounts receivable: +€26,146
- Deferred charges and accrued income -€7,620
down €7,620 (-12.0%), from €63,672 to €56,052
- Other debts +€50,000
up €50,000 (+500%), from €10,000 to €60,000
- Trade debts +€35,926
up €35,926 (+1,085%), from €3,311 to €39,237
- Profit (loss) carried forward +€10,564
up €10,564 (+15.4%), from €68,778 to €79,342
- Accrued charges and deferred income -€4,336
down €4,336 (-36.5%), from €11,880 to €7,544
- Gross operating margin -€19,106
down €19,106 (-13.3%), from €143,220 to €124,113
- Staff costs +€11,973
up €11,973 (+91.4%), from €13,098 to €25,071
- Depreciation +€4,022
up €4,022 (+100%), from €4,004 to €8,026
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 | €110,758 | €203,590 | +€92,832 | +83.8% |
| Fixed assets | 21/28 | €25,925 | €61,769 | +€35,844 | +138% |
| Intangible fixed assets | 21 | €24,785 | €61,181 | +€36,396 | +147% |
| Tangible fixed assets | 22/27 | €1,140 | €588 | -€552 | -48.4% |
| Furniture and vehicles | 24 | €1,140 | €588 | -€552 | -48.4% |
| Current assets | 29/58 | €84,833 | €141,821 | +€56,988 | +67.2% |
| Amounts receivable within one year | 40/41 | €0 | €26,188 | +€26,188 | |
| Trade receivables | 40 | €0 | €42 | +€42 | |
| Other amounts receivable | 41 | - | €26,146 | +€26,146 | |
| Cash at bank and in hand | 54/58 | €21,161 | €59,580 | +€38,419 | +182% |
| Deferred charges and accrued income | 490/1 | €63,672 | €56,052 | -€7,620 | -12.0% |
| Total equity and liabilities | 10/49 | €110,758 | €203,590 | +€92,832 | +83.8% |
| Equity | 10/15 | €78,778 | €89,342 | +€10,564 | +13.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,778 | €79,342 | +€10,564 | +15.4% |
| Amounts payable | 17/49 | €31,979 | €114,248 | +€82,268 | +257% |
| Amounts payable within one year | 42/48 | €20,100 | €106,704 | +€86,604 | +431% |
| Trade debts | 44 | €3,311 | €39,237 | +€35,926 | +1,085% |
| Suppliers | 440/4 | €3,311 | €39,237 | +€35,926 | +1,085% |
| Taxes, remuneration and social security | 45 | €6,789 | €7,467 | +€678 | +10.0% |
| Taxes | 450/3 | €4,460 | €4,460 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,329 | €3,007 | +€678 | +29.1% |
| Other amounts payable | 47/48 | €10,000 | €60,000 | +€50,000 | +500% |
| Accrued charges and deferred income | 492/3 | €11,880 | €7,544 | -€4,336 | -36.5% |
| Remuneration, social security and pensions | 62 | €13,098 | €25,071 | +€11,973 | +91.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,004 | €8,026 | +€4,022 | +100% |
| Other operating charges | 640/8 | €528 | €1,166 | +€638 | +121% |
| Gross operating margin | 9900 | €143,220 | €124,113 | -€19,106 | -13.3% |
| Operating profit (loss) | 9901 | €125,590 | €89,850 | -€35,740 | -28.5% |
| Financial charges | 65/66B | €55 | €86 | +€31 | +56.0% |
| Recurring financial charges | 65 | €55 | €86 | +€31 | +56.0% |
| Profit (loss) for the period before taxes | 9903 | €125,535 | €89,764 | -€35,771 | -28.5% |
| Income taxes | 67/77 | €19,460 | €19,200 | -€260 | -1.3% |
| Profit (loss) for the period | 9904 | €106,075 | €70,564 | -€35,511 | -33.5% |
| Profit (loss) for the period to be appropriated | 9905 | €106,075 | €70,564 | -€35,511 | -33.5% |
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.