FORTYFOUR: 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.
FORTYFOUR
Largest movements
- Receivables within one year +€9,070
up €9,070 (+117%), from €7,776 to €16,846
of which Trade receivables: +€9,536
- Cash +€7,999
up €7,999 (+55.5%), from €14,410 to €22,409
mainly Tax, wage and social debts (+€9,014) and Net result for the year (+€7,590)
- Tangible fixed assets +€2,336
up €2,336 (+194%), from €1,205 to €3,541
of which Furniture and vehicles: +€2,600
- Deferred charges and accrued income +€1,352
new in 2025: €1,352
- Tax, wage and social debts +€9,014
up €9,014 (+208%), from €4,329 to €13,343
of which Taxes: +€6,464
- Profit (loss) carried forward +€7,590
up €7,590 (+132%), from €5,770 to €13,360
- Trade debts +€5,334
up €5,334 (+449%), from €1,189 to €6,523
- Other debts -€1,181
down €1,181 (-10.6%), from €11,102 to €9,921
- Gross operating margin +€18,274
up €18,274 (+232%), from €7,885 to €26,160
- Staff costs +€14,260
new in 2025: €14,260
- Taxes +€1,959
up €1,959 (+123%), from €1,587 to €3,545
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 | €23,390 | €44,147 | +€20,757 | +88.7% |
| Fixed assets | 21/28 | €1,205 | €3,541 | +€2,336 | +194% |
| Tangible fixed assets | 22/27 | €1,205 | €3,541 | +€2,336 | +194% |
| Plant, machinery and equipment | 23 | €1,205 | €941 | -€264 | -21.9% |
| Furniture and vehicles | 24 | - | €2,600 | +€2,600 | |
| Current assets | 29/58 | €22,185 | €40,606 | +€18,421 | +83.0% |
| Amounts receivable within one year | 40/41 | €7,776 | €16,846 | +€9,070 | +117% |
| Trade receivables | 40 | €7,140 | €16,677 | +€9,536 | +134% |
| Other amounts receivable | 41 | €635 | €169 | -€466 | -73.4% |
| Cash at bank and in hand | 54/58 | €14,410 | €22,409 | +€7,999 | +55.5% |
| Deferred charges and accrued income | 490/1 | - | €1,352 | +€1,352 | |
| Total equity and liabilities | 10/49 | €23,390 | €44,147 | +€20,757 | +88.7% |
| Equity | 10/15 | €6,770 | €14,360 | +€7,590 | +112% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Contributions outside capital | 11 | €1,000 | €1,000 | = | 0.0% |
| Share premium | 1100/10 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,770 | €13,360 | +€7,590 | +132% |
| Amounts payable | 17/49 | €16,620 | €29,787 | +€13,167 | +79.2% |
| Amounts payable within one year | 42/48 | €16,620 | €29,787 | +€13,167 | +79.2% |
| Trade debts | 44 | €1,189 | €6,523 | +€5,334 | +449% |
| Suppliers | 440/4 | €1,189 | €6,523 | +€5,334 | +449% |
| Taxes, remuneration and social security | 45 | €4,329 | €13,343 | +€9,014 | +208% |
| Taxes | 450/3 | €4,329 | €10,792 | +€6,464 | +149% |
| Remuneration and social security | 454/9 | - | €2,551 | +€2,551 | |
| Other amounts payable | 47/48 | €11,102 | €9,921 | -€1,181 | -10.6% |
| Remuneration, social security and pensions | 62 | - | €14,260 | +€14,260 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117 | €264 | +€148 | +127% |
| Other operating charges | 640/8 | €387 | €446 | +€58 | +15.1% |
| Gross operating margin | 9900 | €7,885 | €26,160 | +€18,274 | +232% |
| Operating profit (loss) | 9901 | €7,381 | €11,189 | +€3,808 | +51.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €25 | €55 | +€31 | +125% |
| Recurring financial charges | 65 | €25 | €55 | +€31 | +125% |
| Profit (loss) for the period before taxes | 9903 | €7,357 | €11,135 | +€3,778 | +51.4% |
| Income taxes | 67/77 | €1,587 | €3,545 | +€1,959 | +123% |
| Profit (loss) for the period | 9904 | €5,770 | €7,590 | +€1,820 | +31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €5,770 | €7,590 | +€1,820 | +31.5% |
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 14 October 2026 via checked.be.