D4 CONSULT: 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.
D4 CONSULT
Largest movements
- Receivables within one year -€69,788
down €69,788 (-65.8%), from €106,104 to €36,316
of which Other amounts receivable: -€69,708
- Current investments +€17,500
up €17,500 (+5.1%), from €344,542 to €362,042
- Reserves -€166,175
down €166,175 (-26.5%), from €626,109 to €459,934
- Other debts +€97,753
new in 2025: €97,753
- Tax, wage and social debts +€9,277
up €9,277 (+25.2%), from €36,798 to €46,075
- Gross operating margin -€64,240
down €64,240 (-48.3%), from €133,120 to €68,880
- Taxes -€19,249
down €19,249 (-52.3%), from €36,781 to €17,532
- Financial charges -€5,256
down €5,256 (-76.0%), from €6,919 to €1,664
- Depreciation +€1,667
up €1,667 (+35.0%), from €4,768 to €6,435
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 | €664,036 | €604,812 | -€59,224 | -8.9% |
| Fixed assets | 21/28 | €89,340 | €83,028 | -€6,312 | -7.1% |
| Tangible fixed assets | 22/27 | €29,340 | €23,028 | -€6,312 | -21.5% |
| Land and buildings | 22 | €7,151 | €4,944 | -€2,207 | -30.9% |
| Plant, machinery and equipment | 23 | €625 | €34 | -€591 | -94.6% |
| Furniture and vehicles | 24 | €546 | €8,527 | +€7,981 | +1460.8% |
| Other tangible fixed assets | 26 | €21,017 | €9,523 | -€11,494 | -54.7% |
| Financial fixed assets | 28 | €60,000 | €60,000 | = | 0.0% |
| Current assets | 29/58 | €574,696 | €521,784 | -€52,913 | -9.2% |
| Amounts receivable after more than one year | 29 | €75,000 | €75,000 | = | 0.0% |
| Trade receivables | 290 | €75,000 | €75,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €106,104 | €36,316 | -€69,788 | -65.8% |
| Trade receivables | 40 | €1,392 | €1,312 | -€80 | -5.7% |
| Other amounts receivable | 41 | €104,712 | €35,004 | -€69,708 | -66.6% |
| Current investments | 50/53 | €344,542 | €362,042 | +€17,500 | +5.1% |
| Cash at bank and in hand | 54/58 | €45,794 | €45,410 | -€384 | -0.8% |
| Deferred charges and accrued income | 490/1 | €3,256 | €3,016 | -€240 | -7.4% |
| Total equity and liabilities | 10/49 | €664,036 | €604,812 | -€59,224 | -8.9% |
| Equity | 10/15 | €626,109 | €459,934 | -€166,175 | -26.5% |
| Reserves | 13 | €626,109 | €459,934 | -€166,175 | -26.5% |
| Distributable reserves | 133 | €626,109 | €459,934 | -€166,175 | -26.5% |
| Amounts payable | 17/49 | €37,927 | €144,878 | +€106,951 | +282.0% |
| Amounts payable within one year | 42/48 | €37,927 | €144,878 | +€106,951 | +282.0% |
| Trade debts | 44 | €1,129 | €1,050 | -€79 | -7.0% |
| Suppliers | 440/4 | €1,129 | €1,050 | -€79 | -7.0% |
| Taxes, remuneration and social security | 45 | €36,798 | €46,075 | +€9,277 | +25.2% |
| Taxes | 450/3 | €36,798 | €46,075 | +€9,277 | +25.2% |
| Other amounts payable | 47/48 | - | €97,753 | +€97,753 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,768 | €6,435 | +€1,667 | +35.0% |
| Other operating charges | 640/8 | €407 | €420 | +€12 | +3.0% |
| Gross operating margin | 9900 | €133,120 | €68,880 | -€64,240 | -48.3% |
| Operating profit (loss) | 9901 | €127,944 | €62,025 | -€65,919 | -51.5% |
| Financial income | 75/76B | €404 | €2 | -€402 | -99.4% |
| Recurring financial income | 75 | €404 | €2 | -€402 | -99.4% |
| Financial charges | 65/66B | €6,919 | €1,664 | -€5,256 | -76.0% |
| Recurring financial charges | 65 | €6,919 | €1,664 | -€5,256 | -76.0% |
| Profit (loss) for the period before taxes | 9903 | €121,429 | €60,364 | -€61,065 | -50.3% |
| Income taxes | 67/77 | €36,781 | €17,532 | -€19,249 | -52.3% |
| Profit (loss) for the period | 9904 | €84,648 | €42,831 | -€41,817 | -49.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,648 | €42,831 | -€41,817 | -49.4% |
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 11 October 2026 via checked.be.