D4 Consulting: 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 Consulting
Largest movements
- Tangible fixed assets +€7.7m
up €7.7m (+111.5%), from €6.9m to €14.5m
of which Land and buildings: +€5.6m
- Cash +€1.9m
up €1.9m (+2135.5%), from €89,405 to €2.0m
mainly Debts after one year (+€6.7m) and Net result for the year (+€1.7m)
- Receivables within one year -€627,962
down €627,962 (-64.8%), from €969,037 to €341,075
of which Trade receivables: -€789,232
- Current investments +€297,780
new in 2025: €297,780
- Debts after one year +€6.7m
up €6.7m (+236.5%), from €2.8m to €9.5m
- Reserves +€1.7m
up €1.7m (+136.0%), from €1.3m to €3.0m
- Current portion of long-term debt +€725,818
up €725,818 (+522.0%), from €139,033 to €864,851
- Other debts +€192,545
up €192,545 (+13.1%), from €1.5m to €1.7m
- Gross operating margin +€2.0m
up €2.0m (+116.1%), from €1.7m to €3.7m
- Depreciation +€538,816
up €538,816 (+115.6%), from €466,279 to €1.0m
- Taxes +€318,476
up €318,476 (+117.0%), from €272,151 to €590,627
- Financial charges +€111,811
up €111,811 (+58.0%), from €192,635 to €304,446
- Other operating charges +€59,210
up €59,210 (+364.1%), from €16,263 to €75,472
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 | €7,936,124 | €17,199,871 | +€9.3m | +116.7% |
| Fixed assets | 21/28 | €6,877,682 | €14,546,622 | +€7.7m | +111.5% |
| Tangible fixed assets | 22/27 | €6,877,682 | €14,546,622 | +€7.7m | +111.5% |
| Land and buildings | 22 | €6,554,408 | €12,158,042 | +€5.6m | +85.5% |
| Plant, machinery and equipment | 23 | €11,279 | €2,196,612 | +€2.2m | +19375.2% |
| Furniture and vehicles | 24 | €261,399 | €191,969 | -€69,430 | -26.6% |
| Leasing and similar rights | 25 | €50,595 | €0 | -€50,595 | -100.0% |
| Current assets | 29/58 | €1,058,442 | €2,653,249 | +€1.6m | +150.7% |
| Amounts receivable within one year | 40/41 | €969,037 | €341,075 | -€627,962 | -64.8% |
| Trade receivables | 40 | €941,188 | €151,956 | -€789,232 | -83.9% |
| Other amounts receivable | 41 | €27,849 | €189,119 | +€161,270 | +579.1% |
| Current investments | 50/53 | - | €297,780 | +€297,780 | |
| Cash at bank and in hand | 54/58 | €89,405 | €1,998,701 | +€1.9m | +2135.5% |
| Deferred charges and accrued income | 490/1 | - | €15,693 | +€15,693 | |
| Total equity and liabilities | 10/49 | €7,936,124 | €17,199,871 | +€9.3m | +116.7% |
| Equity | 10/15 | €3,269,156 | €4,994,942 | +€1.7m | +52.8% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €1,269,156 | €2,994,942 | +€1.7m | +136.0% |
| Distributable reserves | 133 | €1,269,156 | €2,994,942 | +€1.7m | +136.0% |
| Amounts payable | 17/49 | €4,666,968 | €12,204,929 | +€7.5m | +161.5% |
| Amounts payable after more than one year | 17 | €2,825,893 | €9,509,176 | +€6.7m | +236.5% |
| Financial debts | 170/4 | €2,825,893 | €9,509,176 | +€6.7m | +236.5% |
| Amounts payable within one year | 42/48 | €1,704,195 | €2,644,828 | +€940,633 | +55.2% |
| Current portion of amounts payable after more than one year | 42 | €139,033 | €864,851 | +€725,818 | +522.0% |
| Trade debts | 44 | €5,771 | €7,066 | +€1,295 | +22.4% |
| Suppliers | 440/4 | €5,771 | €7,066 | +€1,295 | +22.4% |
| Taxes, remuneration and social security | 45 | €88,553 | €109,527 | +€20,975 | +23.7% |
| Taxes | 450/3 | €88,553 | €109,527 | +€20,975 | +23.7% |
| Other amounts payable | 47/48 | €1,470,839 | €1,663,384 | +€192,545 | +13.1% |
| Accrued charges and deferred income | 492/3 | €136,880 | €50,926 | -€85,954 | -62.8% |
| Non-recurring operating income | 76A | - | €1,788,100 | +€1.8m | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €466,279 | €1,005,095 | +€538,816 | +115.6% |
| Other operating charges | 640/8 | €16,263 | €75,472 | +€59,210 | +364.1% |
| Non-recurring operating charges | 66A | - | €523 | +€523 | |
| Gross operating margin | 9900 | €1,692,465 | €3,657,440 | +€2.0m | +116.1% |
| Operating profit (loss) | 9901 | €1,209,923 | €2,576,350 | +€1.4m | +112.9% |
| Financial income | 75/76B | €0 | €5,546 | +€5,546 | +55456300.0% |
| Recurring financial income | 75 | €0 | €5,546 | +€5,546 | +55456300.0% |
| Financial charges | 65/66B | €192,635 | €304,446 | +€111,811 | +58.0% |
| Recurring financial charges | 65 | €192,635 | €304,446 | +€111,811 | +58.0% |
| Profit (loss) for the period before taxes | 9903 | €1,017,288 | €2,277,450 | +€1.3m | +123.9% |
| Income taxes | 67/77 | €272,151 | €590,627 | +€318,476 | +117.0% |
| Profit (loss) for the period | 9904 | €745,137 | €1,686,823 | +€941,686 | +126.4% |
| Profit (loss) for the period to be appropriated | 9905 | €745,137 | €1,686,823 | +€941,686 | +126.4% |
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 9 October 2026 via checked.be.