D4Y: 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.
D4Y
Largest movements
- Financial fixed assets +€1.8m
new in 2025: €1.8m
- Intangible fixed assets -€274,729
down €274,729 (-5.3%), from €5.2m to €4.9m
- Receivables within one year +€264,927
up €264,927 (+4,972%), from €5,329 to €270,256
of which Trade receivables: +€260,883
- Other debts +€1.9m
up €1.9m (+1,593%), from €117,584 to €2.0m
- Profit (loss) carried forward -€92,408
down €92,408 (-27.9%), from -€331,218 to -€423,626
- Turnover +€271,973
up €271,973 (+2,657%), from €10,234 to €282,207
- Gross operating margin +€260,537
up €260,537, from -€69,258 to €191,279
- Depreciation +€19,349
up €19,349 (+7.4%), from €261,536 to €280,885
- Purchases and services +€16,051
up €16,051 (+20.2%), from €79,492 to €95,543
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 | €5,206,894 | €6,969,379 | +€1.8m | +33.8% |
| Fixed assets | 21/28 | €5,166,475 | €6,690,365 | +€1.5m | +29.5% |
| Intangible fixed assets | 21 | €5,162,110 | €4,887,380 | -€274,729 | -5.3% |
| Tangible fixed assets | 22/27 | €4,366 | €28,785 | +€24,419 | +559% |
| Plant, machinery and equipment | 23 | - | €1,604 | +€1,604 | |
| Furniture and vehicles | 24 | - | €11,369 | +€11,369 | |
| Other tangible fixed assets | 26 | €4,366 | €15,812 | +€11,446 | +262% |
| Financial fixed assets | 28 | - | €1,774,200 | +€1.8m | |
| Current assets | 29/58 | €40,419 | €279,014 | +€238,595 | +590% |
| Stocks and contracts in progress | 3 | - | €942 | +€942 | |
| Stocks | 30/36 | - | €942 | +€942 | |
| Amounts receivable within one year | 40/41 | €5,329 | €270,256 | +€264,927 | +4,972% |
| Trade receivables | 40 | €1,389 | €262,273 | +€260,883 | +18,776% |
| Other amounts receivable | 41 | €3,939 | €7,983 | +€4,044 | +103% |
| Cash at bank and in hand | 54/58 | €35,090 | €7,081 | -€28,010 | -79.8% |
| Deferred charges and accrued income | 490/1 | - | €735 | +€735 | |
| Total equity and liabilities | 10/49 | €5,206,894 | €6,969,379 | +€1.8m | +33.8% |
| Equity | 10/15 | €5,069,782 | €4,977,374 | -€92,408 | -1.8% |
| Contributions | 10/11 | €5,401,000 | €5,401,000 | = | 0.0% |
| Capital | 10 | €5,401,000 | €5,401,000 | = | 0.0% |
| Issued capital | 100 | €15,401,000 | €15,401,000 | = | 0.0% |
| Uncalled capital | 101 | €10,000,000 | €10,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€331,218 | -€423,626 | -€92,408 | -27.9% |
| Amounts payable | 17/49 | €137,113 | €1,992,005 | +€1.9m | +1,353% |
| Amounts payable within one year | 42/48 | €137,081 | €1,990,990 | +€1.9m | +1,352% |
| Trade debts | 44 | €19,497 | - | -€19,497 | |
| Suppliers | 440/4 | €19,497 | - | -€19,497 | |
| Other amounts payable | 47/48 | €117,584 | €1,990,990 | +€1.9m | +1,593% |
| Accrued charges and deferred income | 492/3 | €31 | €1,015 | +€983 | +3,161% |
| Turnover | 70 | €10,234 | €282,207 | +€271,973 | +2,657% |
| Goods, raw materials, services and sundry goods | 60/61 | €79,492 | €95,543 | +€16,051 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €261,536 | €280,885 | +€19,349 | +7.4% |
| Other operating charges | 640/8 | €507 | €2,064 | +€1,557 | +307% |
| Gross operating margin | 9900 | -€69,258 | €191,279 | +€260,537 | |
| Operating profit (loss) | 9901 | -€331,301 | -€91,670 | +€239,631 | +72.3% |
| Financial income | 75/76B | €256 | €34 | -€222 | -86.6% |
| Recurring financial income | 75 | €256 | €34 | -€222 | -86.6% |
| Financial charges | 65/66B | €173 | €771 | +€599 | +347% |
| Recurring financial charges | 65 | €173 | €771 | +€599 | +347% |
| Profit (loss) for the period before taxes | 9903 | -€331,218 | -€92,408 | +€238,811 | +72.1% |
| Profit (loss) for the period | 9904 | -€331,218 | -€92,408 | +€238,811 | +72.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€331,218 | -€92,408 | +€238,811 | +72.1% |
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 23 October 2026 via checked.be.