D4 ANALYTICS: 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.
D4 ANALYTICS
Largest movements
- Cash +€64,028
up €64,028 (+122.9%), from €52,108 to €116,136
mainly Net result for the year (+€71,207) and Tax, wage and social debts (+€9,488)
- Receivables within one year +€18,501
up €18,501 (+150.4%), from €12,300 to €30,801
of which Trade receivables: +€16,014
- Reserves +€70,000
up €70,000 (+145.8%), from €48,000 to €118,000
- Tax, wage and social debts +€9,488
up €9,488 (+50.3%), from €18,860 to €28,349
- Gross operating margin +€29,637
up €29,637 (+48.6%), from €60,932 to €90,569
- Taxes +€5,918
up €5,918 (+49.7%), from €11,897 to €17,815
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 | €69,983 | €150,576 | +€80,592 | +115.2% |
| Fixed assets | 21/28 | €5,087 | €3,639 | -€1,448 | -28.5% |
| Tangible fixed assets | 22/27 | €5,031 | €3,583 | -€1,448 | -28.8% |
| Furniture and vehicles | 24 | €5,031 | €3,583 | -€1,448 | -28.8% |
| Financial fixed assets | 28 | €56 | €56 | = | 0.0% |
| Current assets | 29/58 | €64,896 | €146,937 | +€82,040 | +126.4% |
| Amounts receivable within one year | 40/41 | €12,300 | €30,801 | +€18,501 | +150.4% |
| Trade receivables | 40 | €12,300 | €28,314 | +€16,014 | +130.2% |
| Other amounts receivable | 41 | - | €2,487 | +€2,487 | |
| Cash at bank and in hand | 54/58 | €52,108 | €116,136 | +€64,028 | +122.9% |
| Deferred charges and accrued income | 490/1 | €488 | - | -€488 | |
| Total equity and liabilities | 10/49 | €69,983 | €150,576 | +€80,592 | +115.2% |
| Equity | 10/15 | €51,017 | €122,224 | +€71,207 | +139.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €48,000 | €118,000 | +€70,000 | +145.8% |
| Distributable reserves | 133 | €48,000 | €118,000 | +€70,000 | +145.8% |
| Profit (loss) carried forward | 14 | €17 | €1,224 | +€1,207 | +6920.0% |
| Amounts payable | 17/49 | €18,966 | €28,351 | +€9,385 | +49.5% |
| Amounts payable within one year | 42/48 | €18,966 | €28,351 | +€9,385 | +49.5% |
| Trade debts | 44 | €105 | €3 | -€103 | -97.6% |
| Suppliers | 440/4 | €105 | €3 | -€103 | -97.6% |
| Taxes, remuneration and social security | 45 | €18,860 | €28,349 | +€9,488 | +50.3% |
| Taxes | 450/3 | €18,860 | €28,349 | +€9,488 | +50.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,016 | €1,448 | +€432 | +42.5% |
| Gross operating margin | 9900 | €60,932 | €90,569 | +€29,637 | +48.6% |
| Operating profit (loss) | 9901 | €59,915 | €89,121 | +€29,206 | +48.7% |
| Financial charges | 65/66B | €1 | €99 | +€98 | +9629.4% |
| Recurring financial charges | 65 | €1 | €99 | +€98 | +9629.4% |
| Profit (loss) for the period before taxes | 9903 | €59,914 | €89,022 | +€29,107 | +48.6% |
| Income taxes | 67/77 | €11,897 | €17,815 | +€5,918 | +49.7% |
| Profit (loss) for the period | 9904 | €48,017 | €71,207 | +€23,189 | +48.3% |
| Profit (loss) for the period to be appropriated | 9905 | €48,017 | €71,207 | +€23,189 | +48.3% |
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 7 October 2026 via checked.be.