E.4.A ASSOCIATES: 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.
E.4.A ASSOCIATES
Largest movements
- Current investments +€198,650
new in 2025: €198,650
- Financial fixed assets -€20,183
down €20,183 (-3.2%), from €625,183 to €605,000
- Receivables within one year +€12,415
up €12,415 (+41.6%), from €29,814 to €42,229
- Cash -€10,581
down €10,581 (-79.6%), from €13,287 to €2,706
mainly Current investments (-€198,650) and Receivables within one year (-€12,415)
- Reserves +€198,650
up €198,650 (+106,048%), from €187 to €198,837
- Profit (loss) carried forward -€19,186
down €19,186 (-95.0%), from €20,198 to €1,012
- Gross operating margin +€170,891
up €170,891 (+1,794%), from €9,525 to €180,417
- Taxes -€2,113
down €2,113 (-85.3%), from €2,477 to €363
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 | €668,285 | €848,585 | +€180,301 | +27.0% |
| Fixed assets | 21/28 | €625,183 | €605,000 | -€20,183 | -3.2% |
| Financial fixed assets | 28 | €625,183 | €605,000 | -€20,183 | -3.2% |
| Current assets | 29/58 | €43,102 | €243,585 | +€200,484 | +465% |
| Amounts receivable within one year | 40/41 | €29,814 | €42,229 | +€12,415 | +41.6% |
| Trade receivables | 40 | €29,814 | €42,229 | +€12,415 | +41.6% |
| Current investments | 50/53 | - | €198,650 | +€198,650 | |
| Cash at bank and in hand | 54/58 | €13,287 | €2,706 | -€10,581 | -79.6% |
| Total equity and liabilities | 10/49 | €668,285 | €848,585 | +€180,301 | +27.0% |
| Equity | 10/15 | €620,385 | €799,850 | +€179,464 | +28.9% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €187 | €198,837 | +€198,650 | +106,048% |
| Non-distributable reserves | 130/1 | €187 | €198,837 | +€198,650 | +106,048% |
| Reserves not available under the articles | 1311 | €187 | €198,837 | +€198,650 | +106,048% |
| Profit (loss) carried forward | 14 | €20,198 | €1,012 | -€19,186 | -95.0% |
| Amounts payable | 17/49 | €47,900 | €48,736 | +€836 | +1.7% |
| Amounts payable within one year | 42/48 | €47,900 | €48,736 | +€836 | +1.7% |
| Trade debts | 44 | €10,099 | €12,425 | +€2,327 | +23.0% |
| Suppliers | 440/4 | €10,099 | €12,425 | +€2,327 | +23.0% |
| Taxes, remuneration and social security | 45 | €5,060 | €3,133 | -€1,927 | -38.1% |
| Taxes | 450/3 | €5,060 | €3,133 | -€1,927 | -38.1% |
| Other amounts payable | 47/48 | €32,741 | €33,177 | +€436 | +1.3% |
| Other operating charges | 640/8 | €292 | €296 | +€4 | +1.4% |
| Gross operating margin | 9900 | €9,525 | €180,417 | +€170,891 | +1,794% |
| Operating profit (loss) | 9901 | €9,233 | €180,121 | +€170,887 | +1,851% |
| Financial charges | 65/66B | €145 | €293 | +€148 | +102% |
| Recurring financial charges | 65 | €145 | €293 | +€148 | +102% |
| Profit (loss) for the period before taxes | 9903 | €9,088 | €179,827 | +€170,739 | +1,879% |
| Income taxes | 67/77 | €2,477 | €363 | -€2,113 | -85.3% |
| Profit (loss) for the period | 9904 | €6,612 | €179,464 | +€172,853 | +2,614% |
| Profit (loss) for the period to be appropriated | 9905 | €6,612 | €179,464 | +€172,853 | +2,614% |
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 21 October 2026 via checked.be.