FOCUS 4 U: 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.
FOCUS 4 U
Largest movements
- Tangible fixed assets -€62,512
down €62,512 (-19.2%), from €324,891 to €262,379
of which Furniture and vehicles: -€50,718
- Receivables within one year -€33,535
down €33,535 (-54.1%), from €61,941 to €28,406
of which Other amounts receivable: -€26,613
- Cash +€23,697
up €23,697 (+46.7%), from €50,715 to €74,412
mainly Depreciation (+€60,552) and Receivables within one year (+€33,535)
- Debts after one year -€34,264
down €34,264 (-37.0%), from €92,695 to €58,431
- Reserves -€28,441
down €28,441 (-12.6%), from €225,657 to €197,216
- Other debts +€21,323
up €21,323 (+80.4%), from €26,533 to €47,857
- Trade debts -€18,458
down €18,458 (-74.5%), from €24,783 to €6,325
- Tax, wage and social debts -€7,121
down €7,121 (-38.1%), from €18,700 to €11,579
- Gross operating margin -€30,113
down €30,113 (-20.4%), from €147,824 to €117,710
- Taxes -€7,947
down €7,947 (-28.8%), from €27,585 to €19,638
- Depreciation +€5,090
up €5,090 (+9.2%), from €55,462 to €60,552
- Financial charges -€1,704
down €1,704 (-23.0%), from €7,402 to €5,697
- Financial income -€1,647
down €1,647 (-62.4%), from €2,637 to €990
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 | €443,353 | €370,001 | -€73,352 | -16.5% |
| Fixed assets | 21/28 | €324,891 | €262,379 | -€62,512 | -19.2% |
| Tangible fixed assets | 22/27 | €324,891 | €262,379 | -€62,512 | -19.2% |
| Land and buildings | 22 | €143,807 | €133,607 | -€10,200 | -7.1% |
| Plant, machinery and equipment | 23 | €5,909 | €5,254 | -€655 | -11.1% |
| Furniture and vehicles | 24 | €166,819 | €116,101 | -€50,718 | -30.4% |
| Other tangible fixed assets | 26 | €8,356 | €7,417 | -€939 | -11.2% |
| Current assets | 29/58 | €118,462 | €107,622 | -€10,840 | -9.2% |
| Amounts receivable within one year | 40/41 | €61,941 | €28,406 | -€33,535 | -54.1% |
| Trade receivables | 40 | €29,945 | €23,023 | -€6,922 | -23.1% |
| Other amounts receivable | 41 | €31,995 | €5,383 | -€26,613 | -83.2% |
| Cash at bank and in hand | 54/58 | €50,715 | €74,412 | +€23,697 | +46.7% |
| Deferred charges and accrued income | 490/1 | €5,806 | €4,803 | -€1,003 | -17.3% |
| Total equity and liabilities | 10/49 | €443,353 | €370,001 | -€73,352 | -16.5% |
| Equity | 10/15 | €234,157 | €205,716 | -€28,441 | -12.1% |
| Contributions | 10/11 | €8,500 | €8,500 | = | 0.0% |
| Reserves | 13 | €225,657 | €197,216 | -€28,441 | -12.6% |
| Distributable reserves | 133 | €225,657 | €197,216 | -€28,441 | -12.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €209,196 | €164,285 | -€44,911 | -21.5% |
| Amounts payable after more than one year | 17 | €92,695 | €58,431 | -€34,264 | -37.0% |
| Financial debts | 170/4 | €92,695 | €58,431 | -€34,264 | -37.0% |
| Amounts payable within one year | 42/48 | €115,821 | €105,104 | -€10,717 | -9.3% |
| Current portion of amounts payable after more than one year | 42 | €45,804 | €39,343 | -€6,461 | -14.1% |
| Trade debts | 44 | €24,783 | €6,325 | -€18,458 | -74.5% |
| Suppliers | 440/4 | €24,783 | €6,325 | -€18,458 | -74.5% |
| Taxes, remuneration and social security | 45 | €18,700 | €11,579 | -€7,121 | -38.1% |
| Taxes | 450/3 | €18,700 | €11,579 | -€7,121 | -38.1% |
| Other amounts payable | 47/48 | €26,533 | €47,857 | +€21,323 | +80.4% |
| Accrued charges and deferred income | 492/3 | €681 | €750 | +€69 | +10.2% |
| Non-recurring operating income | 76A | €11,833 | €16,859 | +€5,025 | +42.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,462 | €60,552 | +€5,090 | +9.2% |
| Other operating charges | 640/8 | €1,931 | €2,169 | +€238 | +12.3% |
| Gross operating margin | 9900 | €147,824 | €117,710 | -€30,113 | -20.4% |
| Operating profit (loss) | 9901 | €90,431 | €54,989 | -€35,441 | -39.2% |
| Financial income | 75/76B | €2,637 | €990 | -€1,647 | -62.4% |
| Recurring financial income | 75 | €2,637 | €990 | -€1,647 | -62.4% |
| Financial charges | 65/66B | €7,402 | €5,697 | -€1,704 | -23.0% |
| Recurring financial charges | 65 | €7,402 | €5,697 | -€1,704 | -23.0% |
| Profit (loss) for the period before taxes | 9903 | €85,666 | €50,282 | -€35,384 | -41.3% |
| Income taxes | 67/77 | €27,585 | €19,638 | -€7,947 | -28.8% |
| Profit (loss) for the period | 9904 | €58,081 | €30,645 | -€27,437 | -47.2% |
| Profit (loss) for the period to be appropriated | 9905 | €58,081 | €30,645 | -€27,437 | -47.2% |
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 18 October 2026 via checked.be.