D4B: 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.
D4B
Largest movements
- Receivables within one year -€43,666
down €43,666 (-75.2%), from €58,037 to €14,371
of which Other amounts receivable: -€22,690
- Cash +€35,954
up €35,954 (+116468.3%), from €31 to €35,985
mainly Receivables within one year (+€43,666) and Debts after one year (+€16,565)
- Tangible fixed assets +€19,603
up €19,603 (+233.0%), from €8,414 to €28,017
of which Furniture and vehicles: +€20,842
- Deferred charges and accrued income -€1,295
down €1,295 (-88.9%), from €1,456 to €161
- Other debts -€25,637
down €25,637 (-100.0%), from €25,637 to €0
- Debts after one year +€16,565
up €16,565, from €0 to €16,565
- Profit (loss) carried forward +€11,568
new in 2025: €11,568
- Trade debts +€4,241
up €4,241 (+16.0%), from €26,445 to €30,686
of which Bills of exchange payable: +€25,255
- Current portion of long-term debt +€1,943
up €1,943 (+41.3%), from €4,699 to €6,642
- Gross operating margin +€20,466
up €20,466 (+206.2%), from €9,925 to €30,391
- Depreciation +€6,280
up €6,280 (+320.3%), from €1,961 to €8,241
- Taxes +€4,625
up €4,625 (+185.4%), from €2,495 to €7,121
- Other operating charges -€1,515
down €1,515 (-40.8%), from €3,715 to €2,200
- Financial income -€1,444
down €1,444 (-93.6%), from €1,542 to €99
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 | €75,978 | €86,573 | +€10,596 | +13.9% |
| Fixed assets | 21/28 | €8,414 | €28,017 | +€19,603 | +233.0% |
| Tangible fixed assets | 22/27 | €8,414 | €28,017 | +€19,603 | +233.0% |
| Furniture and vehicles | 24 | €1,306 | €22,148 | +€20,842 | +1595.5% |
| Other tangible fixed assets | 26 | €7,107 | €5,869 | -€1,239 | -17.4% |
| Current assets | 29/58 | €67,564 | €58,557 | -€9,007 | -13.3% |
| Amounts receivable within one year | 40/41 | €58,037 | €14,371 | -€43,666 | -75.2% |
| Trade receivables | 40 | €35,347 | €14,371 | -€20,976 | -59.3% |
| Other amounts receivable | 41 | €22,690 | €0 | -€22,690 | -100.0% |
| Current investments | 50/53 | €8,040 | €8,040 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €31 | €35,985 | +€35,954 | +116468.3% |
| Deferred charges and accrued income | 490/1 | €1,456 | €161 | -€1,295 | -88.9% |
| Total equity and liabilities | 10/49 | €75,978 | €86,573 | +€10,596 | +13.9% |
| Equity | 10/15 | €5,000 | €16,568 | +€11,568 | +231.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | - | €11,568 | +€11,568 | |
| Amounts payable | 17/49 | €70,978 | €70,005 | -€973 | -1.4% |
| Amounts payable after more than one year | 17 | €0 | €16,565 | +€16,565 | |
| Financial debts | 170/4 | €0 | €16,565 | +€16,565 | |
| Amounts payable within one year | 42/48 | €70,978 | €53,440 | -€17,538 | -24.7% |
| Current portion of amounts payable after more than one year | 42 | €4,699 | €6,642 | +€1,943 | +41.3% |
| Trade debts | 44 | €26,445 | €30,686 | +€4,241 | +16.0% |
| Suppliers | 440/4 | €26,445 | €5,431 | -€21,014 | -79.5% |
| Bills of exchange payable | 441 | - | €25,255 | +€25,255 | |
| Taxes, remuneration and social security | 45 | €14,197 | €16,112 | +€1,915 | +13.5% |
| Taxes | 450/3 | €14,197 | €16,112 | +€1,915 | +13.5% |
| Other amounts payable | 47/48 | €25,637 | €0 | -€25,637 | -100.0% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,961 | €8,241 | +€6,280 | +320.3% |
| Other operating charges | 640/8 | €3,715 | €2,200 | -€1,515 | -40.8% |
| Operating charges capitalised as restructuring costs | 649 | €0 | - | = | |
| Gross operating margin | 9900 | €9,925 | €30,391 | +€20,466 | +206.2% |
| Operating profit (loss) | 9901 | €4,249 | €19,950 | +€15,701 | +369.6% |
| Financial income | 75/76B | €1,542 | €99 | -€1,444 | -93.6% |
| Recurring financial income | 75 | €1,542 | €99 | -€1,444 | -93.6% |
| Financial charges | 65/66B | €889 | €1,360 | +€470 | +52.9% |
| Recurring financial charges | 65 | €889 | €1,360 | +€470 | +52.9% |
| Profit (loss) for the period before taxes | 9903 | €4,902 | €18,689 | +€13,787 | +281.3% |
| Income taxes | 67/77 | €2,495 | €7,121 | +€4,625 | +185.4% |
| Profit (loss) for the period | 9904 | €2,406 | €11,568 | +€9,162 | +380.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,406 | €11,568 | +€9,162 | +380.7% |
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.