Focus4Growth: what changed
Two fiscal 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.
Focus4Growth
Largest movements
- Current investments +€1.0m
up €1.0m (+45.6%), from €2.2m to €3.2m
- Cash -€218,412
down €218,412 (-17.6%), from €1.2m to €1.0m
mainly Current investments (-€1.0m) and Investment in fixed assets (net) (-€7,129)
- Receivables within one year -€191,789
down €191,789 (-98.0%), from €195,657 to €3,868
of which Trade receivables: -€135,271
- Reserves +€551,390
new in 2025: €551,390
- Gross operating margin -€226,505
down €226,505 (-20.7%), from €1.1m to €867,401
- Financial income +€30,640
up €30,640 (+153.5%), from €19,957 to €50,598
- Financial charges +€26,670
up €26,670 (+44.8%), from €59,568 to €86,238
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 | €3,723,906 | €4,292,450 | +€568,544 | +15.3% |
| Fixed assets | 21/28 | €60,684 | €43,514 | -€17,170 | -28.3% |
| Tangible fixed assets | 22/27 | €60,684 | €43,514 | -€17,170 | -28.3% |
| Plant, machinery and equipment | 23 | €1,131 | €602 | -€529 | -46.8% |
| Furniture and vehicles | 24 | €28,622 | €28,603 | -€19 | -0.1% |
| Other tangible fixed assets | 26 | €30,931 | €14,309 | -€16,622 | -53.7% |
| Current assets | 29/58 | €3,663,222 | €4,248,936 | +€585,714 | +16.0% |
| Amounts receivable within one year | 40/41 | €195,657 | €3,868 | -€191,789 | -98.0% |
| Trade receivables | 40 | €136,797 | €1,526 | -€135,271 | -98.9% |
| Other amounts receivable | 41 | €58,861 | €2,343 | -€56,518 | -96.0% |
| Current investments | 50/53 | €2,204,405 | €3,210,594 | +€1.0m | +45.6% |
| Cash at bank and in hand | 54/58 | €1,243,518 | €1,025,106 | -€218,412 | -17.6% |
| Deferred charges and accrued income | 490/1 | €19,642 | €9,368 | -€10,274 | -52.3% |
| Total equity and liabilities | 10/49 | €3,723,906 | €4,292,450 | +€568,544 | +15.3% |
| Equity | 10/15 | €3,684,424 | €4,235,814 | +€551,390 | +15.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | - | €551,390 | +€551,390 | |
| Distributable reserves | 133 | - | €551,390 | +€551,390 | |
| Profit (loss) carried forward | 14 | €3,674,424 | €3,674,424 | +€0 | 0.0% |
| Amounts payable | 17/49 | €39,482 | €56,636 | +€17,155 | +43.4% |
| Amounts payable within one year | 42/48 | €39,482 | €56,636 | +€17,155 | +43.4% |
| Trade debts | 44 | €4,705 | €1,878 | -€2,827 | -60.1% |
| Suppliers | 440/4 | €4,705 | €1,878 | -€2,827 | -60.1% |
| Taxes, remuneration and social security | 45 | €69 | €24,405 | +€24,336 | +35177.3% |
| Taxes | 450/3 | €69 | €24,405 | +€24,336 | +35177.3% |
| Other amounts payable | 47/48 | €34,708 | €30,354 | -€4,355 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,602 | €24,299 | -€1,303 | -5.1% |
| Other operating charges | 640/8 | €116 | €536 | +€420 | +361.9% |
| Non-recurring operating charges | 66A | - | €7,016 | +€7,016 | |
| Gross operating margin | 9900 | €1,093,907 | €867,401 | -€226,505 | -20.7% |
| Operating profit (loss) | 9901 | €1,068,188 | €835,551 | -€232,637 | -21.8% |
| Financial income | 75/76B | €19,957 | €50,598 | +€30,640 | +153.5% |
| Recurring financial income | 75 | €19,957 | €50,598 | +€30,640 | +153.5% |
| Financial charges | 65/66B | €59,568 | €86,238 | +€26,670 | +44.8% |
| Recurring financial charges | 65 | €59,568 | €86,238 | +€26,670 | +44.8% |
| Profit (loss) for the period before taxes | 9903 | €1,028,578 | €799,910 | -€228,667 | -22.2% |
| Income taxes | 67/77 | €254,720 | €248,520 | -€6,199 | -2.4% |
| Profit (loss) for the period | 9904 | €773,858 | €551,390 | -€222,468 | -28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €773,858 | €551,390 | -€222,468 | -28.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.