E4V: 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.
E4V
Largest movements
- Cash +€36,063
up €36,063 (+33.3%), from €108,166 to €144,229
mainly Net result for the year (+€57,664) and Depreciation (+€11,452)
- Tangible fixed assets -€6,961
down €6,961 (-17.0%), from €40,940 to €33,979
of which Leasing and similar rights: -€9,897
- Reserves +€40,764
up €40,764 (+52.2%), from €78,127 to €118,891
- Debts after one year -€12,723
down €12,723 (-53.5%), from €23,761 to €11,038
- Tax, wage and social debts -€3,577
down €3,577 (-16.3%), from €22,013 to €18,436
of which Taxes: -€4,577
- Other debts +€2,885
up €2,885 (+17.2%), from €16,797 to €19,683
- Gross operating margin -€8,563
down €8,563 (-8.3%), from €102,894 to €94,331
- Taxes -€1,626
down €1,626 (-6.9%), from €23,593 to €21,967
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 | €167,308 | €196,826 | +€29,518 | +17.6% |
| Fixed assets | 21/28 | €40,940 | €33,979 | -€6,961 | -17.0% |
| Tangible fixed assets | 22/27 | €40,940 | €33,979 | -€6,961 | -17.0% |
| Furniture and vehicles | 24 | €2,628 | €5,563 | +€2,935 | +112% |
| Leasing and similar rights | 25 | €38,313 | €28,416 | -€9,897 | -25.8% |
| Current assets | 29/58 | €126,368 | €162,847 | +€36,479 | +28.9% |
| Amounts receivable within one year | 40/41 | €15,628 | €16,779 | +€1,151 | +7.4% |
| Trade receivables | 40 | €15,628 | €16,326 | +€698 | +4.5% |
| Other amounts receivable | 41 | €0 | €453 | +€453 | |
| Cash at bank and in hand | 54/58 | €108,166 | €144,229 | +€36,063 | +33.3% |
| Deferred charges and accrued income | 490/1 | €2,574 | €1,839 | -€735 | -28.6% |
| Total equity and liabilities | 10/49 | €167,308 | €196,826 | +€29,518 | +17.6% |
| Equity | 10/15 | €90,527 | €131,291 | +€40,764 | +45.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €78,127 | €118,891 | +€40,764 | +52.2% |
| Distributable reserves | 133 | €78,127 | €118,891 | +€40,764 | +52.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €76,781 | €65,535 | -€11,246 | -14.6% |
| Amounts payable after more than one year | 17 | €23,761 | €11,038 | -€12,723 | -53.5% |
| Financial debts | 170/4 | €23,761 | €11,038 | -€12,723 | -53.5% |
| Amounts payable within one year | 42/48 | €52,925 | €54,405 | +€1,479 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €12,176 | €12,723 | +€547 | +4.5% |
| Trade debts | 44 | €1,939 | €3,563 | +€1,625 | +83.8% |
| Suppliers | 440/4 | €1,939 | €3,563 | +€1,625 | +83.8% |
| Taxes, remuneration and social security | 45 | €22,013 | €18,436 | -€3,577 | -16.3% |
| Taxes | 450/3 | €22,013 | €17,436 | -€4,577 | -20.8% |
| Remuneration and social security | 454/9 | - | €1,000 | +€1,000 | |
| Other amounts payable | 47/48 | €16,797 | €19,683 | +€2,885 | +17.2% |
| Accrued charges and deferred income | 492/3 | €95 | €92 | -€3 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,599 | €11,452 | +€853 | +8.0% |
| Other operating charges | 640/8 | €2,019 | €2,113 | +€94 | +4.7% |
| Gross operating margin | 9900 | €102,894 | €94,331 | -€8,563 | -8.3% |
| Operating profit (loss) | 9901 | €90,276 | €80,766 | -€9,510 | -10.5% |
| Financial income | 75/76B | €134 | €499 | +€365 | +272% |
| Recurring financial income | 75 | €134 | €499 | +€365 | +272% |
| Financial charges | 65/66B | €2,240 | €1,634 | -€606 | -27.0% |
| Recurring financial charges | 65 | €2,240 | €1,634 | -€606 | -27.0% |
| Profit (loss) for the period before taxes | 9903 | €88,171 | €79,631 | -€8,540 | -9.7% |
| Income taxes | 67/77 | €23,593 | €21,967 | -€1,626 | -6.9% |
| Profit (loss) for the period | 9904 | €64,578 | €57,664 | -€6,914 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €64,578 | €57,664 | -€6,914 | -10.7% |
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 24 October 2026 via checked.be.