DivideByFour: 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.
DivideByFour
Largest movements
- Receivables within one year -€20,575
down €20,575 (-30.9%), from €66,542 to €45,967
of which Trade receivables: -€31,374
- Cash -€15,323
down €15,323 (-97.6%), from €15,702 to €379
mainly Trade debts (-€40,133) and Investment in fixed assets (net) (-€3,153)
- Intangible fixed assets -€1,780
down €1,780 (-100.0%), from €1,780 to €0
- Deferred charges and accrued income -€1,586
down €1,586 (-46.1%), from €3,444 to €1,858
- Tangible fixed assets -€1,149
down €1,149 (-14.6%), from €7,854 to €6,705
of which Furniture and vehicles: -€3,680
- Trade debts -€40,133
down €40,133 (-93.9%), from €42,761 to €2,628
- Tax, wage and social debts -€1,241
down €1,241 (-17.8%), from €6,955 to €5,714
of which Taxes: -€3,724
- Gross operating margin -€8,059
down €8,059 (-36.3%), from €22,184 to €14,125
- Depreciation -€2,759
down €2,759 (-31.2%), from €8,840 to €6,082
- Financial income +€1,269
up €1,269 (+274.9%), from €462 to €1,730
- Other operating charges +€666
up €666 (+95.8%), from €695 to €1,361
- Financial charges -€519
down €519 (-6.2%), from €8,303 to €7,785
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 | €95,322 | €54,908 | -€40,414 | -42.4% |
| Fixed assets | 21/28 | €9,634 | €6,705 | -€2,929 | -30.4% |
| Intangible fixed assets | 21 | €1,780 | €0 | -€1,780 | -100.0% |
| Tangible fixed assets | 22/27 | €7,854 | €6,705 | -€1,149 | -14.6% |
| Plant, machinery and equipment | 23 | €2,029 | €4,560 | +€2,531 | +124.7% |
| Furniture and vehicles | 24 | €5,825 | €2,145 | -€3,680 | -63.2% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €85,688 | €48,203 | -€37,485 | -43.7% |
| Amounts receivable within one year | 40/41 | €66,542 | €45,967 | -€20,575 | -30.9% |
| Trade receivables | 40 | €39,603 | €8,229 | -€31,374 | -79.2% |
| Other amounts receivable | 41 | €26,939 | €37,738 | +€10,799 | +40.1% |
| Cash at bank and in hand | 54/58 | €15,702 | €379 | -€15,323 | -97.6% |
| Deferred charges and accrued income | 490/1 | €3,444 | €1,858 | -€1,586 | -46.1% |
| Total equity and liabilities | 10/49 | €95,322 | €54,908 | -€40,414 | -42.4% |
| Equity | 10/15 | -€79,547 | -€79,087 | +€461 | +0.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €38,267 | €38,267 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €38,267 | €38,267 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€124,015 | -€123,554 | +€461 | +0.4% |
| Amounts payable | 17/49 | €174,869 | €133,995 | -€40,874 | -23.4% |
| Amounts payable within one year | 42/48 | €174,869 | €133,739 | -€41,131 | -23.5% |
| Financial debts | 43 | €125,006 | €125,000 | -€6 | 0.0% |
| Credit institutions | 430/8 | €125,006 | €125,000 | -€6 | 0.0% |
| Trade debts | 44 | €42,761 | €2,628 | -€40,133 | -93.9% |
| Suppliers | 440/4 | €42,761 | €2,628 | -€40,133 | -93.9% |
| Taxes, remuneration and social security | 45 | €6,955 | €5,714 | -€1,241 | -17.8% |
| Taxes | 450/3 | €6,955 | €3,231 | -€3,724 | -53.5% |
| Remuneration and social security | 454/9 | - | €2,482 | +€2,482 | |
| Other amounts payable | 47/48 | €147 | €397 | +€250 | +169.9% |
| Accrued charges and deferred income | 492/3 | - | €256 | +€256 | |
| Non-recurring operating income | 76A | €5,081 | €0 | -€5,081 | -100.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,840 | €6,082 | -€2,759 | -31.2% |
| Other operating charges | 640/8 | €695 | €1,361 | +€666 | +95.8% |
| Gross operating margin | 9900 | €22,184 | €14,125 | -€8,059 | -36.3% |
| Operating profit (loss) | 9901 | €12,649 | €6,682 | -€5,967 | -47.2% |
| Financial income | 75/76B | €462 | €1,730 | +€1,269 | +274.9% |
| Recurring financial income | 75 | €462 | €1,730 | +€1,269 | +274.9% |
| Financial charges | 65/66B | €8,303 | €7,785 | -€519 | -6.2% |
| Recurring financial charges | 65 | €8,303 | €7,785 | -€519 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €4,807 | €628 | -€4,179 | -86.9% |
| Income taxes | 67/77 | €198 | €167 | -€30 | -15.4% |
| Profit (loss) for the period | 9904 | €4,610 | €461 | -€4,149 | -90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,610 | €461 | -€4,149 | -90.0% |
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.