FOCUS 4D: 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 4D
Largest movements
- Cash +€36,717
up €36,717 (+21.6%), from €169,951 to €206,669
mainly Net result for the year (+€29,206) and Other debts (+€16,339)
- Tangible fixed assets -€11,882
down €11,882 (-25.7%), from €46,221 to €34,339
of which Furniture and vehicles: -€11,206
- Deferred charges and accrued income +€4,133
up €4,133 (+31.6%), from €13,086 to €17,218
- Other debts +€16,339
up €16,339 (+58.8%), from €27,793 to €44,131
- Reserves +€11,200
up €11,200 (+9.7%), from €115,660 to €126,860
of which Distributable reserves: +€11,200
- Gross operating margin +€14,523
up €14,523 (+33.5%), from €43,334 to €57,857
- Taxes +€4,103
up €4,103 (+45.3%), from €9,049 to €13,152
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 | €245,805 | €274,557 | +€28,753 | +11.7% |
| Fixed assets | 21/28 | €46,536 | €34,654 | -€11,882 | -25.5% |
| Tangible fixed assets | 22/27 | €46,221 | €34,339 | -€11,882 | -25.7% |
| Plant, machinery and equipment | 23 | €4,403 | €3,805 | -€598 | -13.6% |
| Furniture and vehicles | 24 | €41,290 | €30,084 | -€11,206 | -27.1% |
| Other tangible fixed assets | 26 | €528 | €450 | -€78 | -14.8% |
| Financial fixed assets | 28 | €315 | €315 | = | 0.0% |
| Current assets | 29/58 | €199,269 | €239,903 | +€40,635 | +20.4% |
| Amounts receivable within one year | 40/41 | €16,232 | €16,016 | -€215 | -1.3% |
| Trade receivables | 40 | €14,779 | €16,016 | +€1,237 | +8.4% |
| Other amounts receivable | 41 | €1,453 | €0 | -€1,453 | -100.0% |
| Cash at bank and in hand | 54/58 | €169,951 | €206,669 | +€36,717 | +21.6% |
| Deferred charges and accrued income | 490/1 | €13,086 | €17,218 | +€4,133 | +31.6% |
| Total equity and liabilities | 10/49 | €245,805 | €274,557 | +€28,753 | +11.7% |
| Equity | 10/15 | €206,713 | €217,919 | +€11,206 | +5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €115,660 | €126,860 | +€11,200 | +9.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €113,800 | €125,000 | +€11,200 | +9.8% |
| Profit (loss) carried forward | 14 | €72,453 | €72,459 | +€6 | 0.0% |
| Amounts payable | 17/49 | €39,092 | €56,639 | +€17,547 | +44.9% |
| Amounts payable within one year | 42/48 | €34,360 | €53,106 | +€18,746 | +54.6% |
| Trade debts | 44 | €2,297 | €1,981 | -€315 | -13.7% |
| Suppliers | 440/4 | €2,297 | €1,981 | -€315 | -13.7% |
| Taxes, remuneration and social security | 45 | €4,271 | €6,993 | +€2,722 | +63.7% |
| Taxes | 450/3 | €4,271 | €6,993 | +€2,722 | +63.7% |
| Other amounts payable | 47/48 | €27,793 | €44,131 | +€16,339 | +58.8% |
| Accrued charges and deferred income | 492/3 | €4,732 | €3,533 | -€1,199 | -25.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,231 | €14,294 | +€62 | +0.4% |
| Other operating charges | 640/8 | €1,029 | €1,039 | +€10 | +0.9% |
| Gross operating margin | 9900 | €43,334 | €57,857 | +€14,523 | +33.5% |
| Operating profit (loss) | 9901 | €28,074 | €42,525 | +€14,451 | +51.5% |
| Financial income | 75/76B | €0 | €5 | +€5 | +10640.0% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +10640.0% |
| Financial charges | 65/66B | €165 | €172 | +€7 | +4.2% |
| Recurring financial charges | 65 | €165 | €172 | +€7 | +4.2% |
| Profit (loss) for the period before taxes | 9903 | €27,909 | €42,358 | +€14,449 | +51.8% |
| Income taxes | 67/77 | €9,049 | €13,152 | +€4,103 | +45.3% |
| Profit (loss) for the period | 9904 | €18,860 | €29,206 | +€10,346 | +54.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,860 | €29,206 | +€10,346 | +54.9% |
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.