EQ4K: 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.
What changed
EQ4K
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.4m-€131,582
Equity
€13.4m
2024 · €12.2m+€1.2m
Cash
€160,441
2024 · €176,319-€15,878
Balance sheet total
€18.5m
2024 · €20.4m-€1.9m
Largest movements
Assets
- Financial fixed assets -€2.0m
down €2.0m (-9.7%), from €20.1m to €18.1m
Equity and liabilities
- Short-term financial debts -€2.3m
down €2.3m (-37.4%), from €6.1m to €3.8m
- Reserves +€1.2m
up €1.2m (+96.4%), from €1.3m to €2.5m
- Debts after one year -€526,560
down €526,560 (-33.5%), from €1.6m to €1.0m
- Other debts -€351,942
down €351,942 (-98.8%), from €356,391 to €4,449
Income statement
- Financial income -€157,127
down €157,127 (-13.1%), from €1.2m to €1.0m
- Other operating charges -€51,370
down €51,370 (-94.2%), from €54,528 to €3,158
- Services and other goods +€41,767
up €41,767 (+31.4%), from €132,860 to €174,627
- Financial charges -€23,411
down €23,411 (-8.2%), from €283,963 to €260,552
- Taxes +€20,838
up €20,838 (+32.0%), from €65,074 to €85,912
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.
Result 2024
€1.4m
Turnover
+€12,000
Other operating income
+€2,262
Goods and materials
-€8,004
Services and other goods
-€41,767
Staff costs
+€19,789
Depreciation
-€12,678
Other operating charges
+€51,370
Financial income
-€157,127
Financial charges
+€23,411
Taxes
-€20,838
Result 2025
€1.2m
raises the resultlowers the result
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.
From operations
+€893,123
Investment
+€1.9m
Financing
-€2.8m
Cash 2024
€176,319
From operations (derived)
+€893,123
Net result for the year
+€1.2m
Depreciation
+€13,862
Stocks and contracts
+€8,004
Receivables within one year
-€7,278
Smaller working-capital items
-€5,108
Tax, wage and social debts
-€68,995
Other debts
-€351,942
Accrued charges and deferred income
+€80,683
Investment (derived)
+€1.9m
Investment in fixed assets (net)
+€1.9m
Financing
-€2.8m
Debts after one year
-€526,560
Short-term financial debts
-€2.3m
Cash 2025
€160,441
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,375,056 | €18,453,216 | -€1.9m | -9.4% |
| Fixed assets | 21/28 | €20,071,566 | €18,166,332 | -€1.9m | -9.5% |
| Tangible fixed assets | 22/27 | €1,927 | €53,130 | +€51,203 | +2,657% |
| Plant, machinery and equipment | 23 | - | €1,667 | +€1,667 | |
| Furniture and vehicles | 24 | €1,927 | €51,464 | +€49,536 | +2,570% |
| Financial fixed assets | 28 | €20,069,639 | €18,113,201 | -€2.0m | -9.7% |
| Affiliated companies | 280/1 | €20,069,639 | €18,113,201 | -€2.0m | -9.7% |
| Participating interests | 280 | €17,543,949 | €17,543,949 | = | 0.0% |
| Amounts receivable | 281 | €2,525,690 | €569,252 | -€2.0m | -77.5% |
| Current assets | 29/58 | €303,490 | €286,884 | -€16,605 | -5.5% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €8,004 | €0 | -€8,004 | -100% |
| Stocks | 30/36 | €8,004 | €0 | -€8,004 | -100% |
| Goods purchased for resale | 34 | €8,004 | €0 | -€8,004 | -100% |
| Amounts receivable within one year | 40/41 | €109,165 | €116,443 | +€7,278 | +6.7% |
| Trade receivables | 40 | €93,275 | €87,120 | -€6,156 | -6.6% |
| Other amounts receivable | 41 | €15,890 | €29,324 | +€13,434 | +84.5% |
| Cash at bank and in hand | 54/58 | €176,319 | €160,441 | -€15,878 | -9.0% |
| Deferred charges and accrued income | 490/1 | €2 | €0 | -€2 | -100% |
| Total equity and liabilities | 10/49 | €20,375,056 | €18,453,216 | -€1.9m | -9.4% |
| Equity | 10/15 | €12,193,954 | €13,417,850 | +€1.2m | +10.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Revaluation surpluses | 12 | €10,919,272 | €10,919,272 | = | 0.0% |
| Reserves | 13 | €1,269,682 | €2,493,578 | +€1.2m | +96.4% |
| Distributable reserves | 133 | €1,269,682 | €2,493,578 | +€1.2m | +96.4% |
| Amounts payable | 17/49 | €8,181,102 | €5,035,366 | -€3.1m | -38.5% |
| Amounts payable after more than one year | 17 | €1,571,961 | €1,045,402 | -€526,560 | -33.5% |
| Financial debts | 170/4 | €1,571,961 | €1,045,402 | -€526,560 | -33.5% |
| Other loans | 174 | €1,571,961 | €1,045,402 | -€526,560 | -33.5% |
| Amounts payable within one year | 42/48 | €6,609,140 | €3,909,281 | -€2.7m | -40.9% |
| Financial debts | 43 | €6,075,000 | €3,801,186 | -€2.3m | -37.4% |
| Credit institutions | 430/8 | €6,075,000 | €3,801,186 | -€2.3m | -37.4% |
| Trade debts | 44 | €25,539 | €20,429 | -€5,109 | -20.0% |
| Suppliers | 440/4 | €25,539 | €20,429 | -€5,109 | -20.0% |
| Taxes, remuneration and social security | 45 | €152,211 | €83,216 | -€68,995 | -45.3% |
| Taxes | 450/3 | €126,016 | €59,191 | -€66,825 | -53.0% |
| Remuneration and social security | 454/9 | €26,195 | €24,026 | -€2,169 | -8.3% |
| Other amounts payable | 47/48 | €356,391 | €4,449 | -€351,942 | -98.8% |
| Accrued charges and deferred income | 492/3 | - | €80,683 | +€80,683 | |
| Operating income | 70/76A | €943,059 | €957,321 | +€14,262 | +1.5% |
| Turnover | 70 | €924,000 | €936,000 | +€12,000 | +1.3% |
| Other operating income | 74 | €19,059 | €21,321 | +€2,262 | +11.9% |
| Operating charges | 60/66A | €439,234 | €430,523 | -€8,710 | -2.0% |
| Goods for resale, raw materials and consumables | 60 | - | €8,004 | +€8,004 | |
| Purchases | 600/8 | €8,004 | €0 | -€8,004 | -100% |
| Change in stocks: decrease (increase) | 609 | -€8,004 | €8,004 | +€16,008 | |
| Services and other goods | 61 | €132,860 | €174,627 | +€41,767 | +31.4% |
| Remuneration, social security and pensions | 62 | €250,661 | €230,872 | -€19,789 | -7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,184 | €13,862 | +€12,678 | +1,070% |
| Other operating charges | 640/8 | €54,528 | €3,158 | -€51,370 | -94.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Operating profit (loss) | 9901 | €503,825 | €526,797 | +€22,972 | +4.6% |
| Financial income | 75/76B | €1,200,690 | €1,043,563 | -€157,127 | -13.1% |
| Recurring financial income | 75 | €1,200,690 | €1,043,563 | -€157,127 | -13.1% |
| Income from financial fixed assets | 750 | €1,200,000 | €1,000,000 | -€200,000 | -16.7% |
| Income from current assets | 751 | €690 | €43,563 | +€42,873 | +6,214% |
| Other financial income | 752/9 | €0 | - | = | |
| Financial charges | 65/66B | €283,963 | €260,552 | -€23,411 | -8.2% |
| Recurring financial charges | 65 | €283,963 | €260,552 | -€23,411 | -8.2% |
| Debt charges | 650 | €283,189 | €258,841 | -€24,347 | -8.6% |
| Other financial charges | 652/9 | €775 | €1,711 | +€936 | +121% |
| Profit (loss) for the period before taxes | 9903 | €1,420,552 | €1,309,808 | -€110,744 | -7.8% |
| Income taxes | 67/77 | €65,074 | €85,912 | +€20,838 | +32.0% |
| Taxes | 670/3 | €65,074 | €85,912 | +€20,838 | +32.0% |
| Profit (loss) for the period | 9904 | €1,355,478 | €1,223,896 | -€131,582 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,355,478 | €1,223,896 | -€131,582 | -9.7% |
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 28 October 2026 via checked.be.