FOUR C EVENTS: 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.
FOUR C EVENTS
Largest movements
- Cash +€115,279
up €115,279 (+80.1%), from €143,955 to €259,234
mainly Trade debts (+€89,022) and Depreciation (+€27,672)
- Tangible fixed assets -€25,919
down €25,919 (-31.5%), from €82,301 to €56,382
of which Furniture and vehicles: -€18,324
- Receivables within one year -€10,783
down €10,783 (-95.5%), from €11,287 to €505
of which Trade receivables: -€8,922
- Trade debts +€89,022
up €89,022 (+73.2%), from €121,552 to €210,575
- Other debts +€26,076
up €26,076 (+954%), from €2,733 to €28,809
- Profit (loss) carried forward -€19,673
down €19,673 (-65.7%), from -€29,928 to -€49,601
- Debts after one year -€12,053
down €12,053 (-27.3%), from €44,113 to €32,060
- Tax, wage and social debts -€5,580
down €5,580 (-20.6%), from €27,088 to €21,508
of which Taxes: -€5,658
- Financial charges +€9,013
up €9,013 (+23.6%), from €38,143 to €47,156
- Depreciation -€6,703
down €6,703 (-19.5%), from €34,375 to €27,672
- Other operating charges -€4,201
down €4,201 (-64.0%), from €6,562 to €2,361
- Gross operating margin +€3,287
up €3,287 (+6.0%), from €54,446 to €57,733
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 | €245,010 | €320,585 | +€75,575 | +30.8% |
| Fixed assets | 21/28 | €82,338 | €56,419 | -€25,919 | -31.5% |
| Tangible fixed assets | 22/27 | €82,301 | €56,382 | -€25,919 | -31.5% |
| Plant, machinery and equipment | 23 | €1,391 | €1,011 | -€380 | -27.3% |
| Furniture and vehicles | 24 | €69,064 | €50,740 | -€18,324 | -26.5% |
| Other tangible fixed assets | 26 | €11,846 | €4,630 | -€7,215 | -60.9% |
| Financial fixed assets | 28 | €38 | €38 | = | 0.0% |
| Current assets | 29/58 | €162,671 | €264,166 | +€101,495 | +62.4% |
| Amounts receivable within one year | 40/41 | €11,287 | €505 | -€10,783 | -95.5% |
| Trade receivables | 40 | €8,922 | - | -€8,922 | |
| Other amounts receivable | 41 | €2,366 | €505 | -€1,861 | -78.7% |
| Cash at bank and in hand | 54/58 | €143,955 | €259,234 | +€115,279 | +80.1% |
| Deferred charges and accrued income | 490/1 | €7,429 | €4,428 | -€3,002 | -40.4% |
| Total equity and liabilities | 10/49 | €245,010 | €320,585 | +€75,575 | +30.8% |
| Equity | 10/15 | €34,261 | €14,588 | -€19,673 | -57.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,589 | €45,589 | = | 0.0% |
| Distributable reserves | 133 | €45,589 | €45,589 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,928 | -€49,601 | -€19,673 | -65.7% |
| Amounts payable | 17/49 | €210,749 | €305,997 | +€95,248 | +45.2% |
| Amounts payable after more than one year | 17 | €44,113 | €32,060 | -€12,053 | -27.3% |
| Financial debts | 170/4 | €44,113 | €32,060 | -€12,053 | -27.3% |
| Amounts payable within one year | 42/48 | €166,636 | €273,874 | +€107,238 | +64.4% |
| Current portion of amounts payable after more than one year | 42 | €14,805 | €12,053 | -€2,752 | -18.6% |
| Financial debts | 43 | €457 | €929 | +€471 | +103% |
| Credit institutions | 430/8 | €457 | €929 | +€471 | +103% |
| Trade debts | 44 | €121,552 | €210,575 | +€89,022 | +73.2% |
| Suppliers | 440/4 | €121,552 | €210,575 | +€89,022 | +73.2% |
| Taxes, remuneration and social security | 45 | €27,088 | €21,508 | -€5,580 | -20.6% |
| Taxes | 450/3 | €25,027 | €19,369 | -€5,658 | -22.6% |
| Remuneration and social security | 454/9 | €2,061 | €2,139 | +€78 | +3.8% |
| Other amounts payable | 47/48 | €2,733 | €28,809 | +€26,076 | +954% |
| Accrued charges and deferred income | 492/3 | - | €64 | +€64 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,375 | €27,672 | -€6,703 | -19.5% |
| Other operating charges | 640/8 | €6,562 | €2,361 | -€4,201 | -64.0% |
| Gross operating margin | 9900 | €54,446 | €57,733 | +€3,287 | +6.0% |
| Operating profit (loss) | 9901 | €13,509 | €27,700 | +€14,191 | +105% |
| Financial income | 75/76B | €3 | €0 | -€3 | -93.0% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -93.0% |
| Financial charges | 65/66B | €38,143 | €47,156 | +€9,013 | +23.6% |
| Recurring financial charges | 65 | €38,143 | €47,156 | +€9,013 | +23.6% |
| Profit (loss) for the period before taxes | 9903 | -€24,631 | -€19,456 | +€5,175 | +21.0% |
| Income taxes | 67/77 | €227 | €217 | -€10 | -4.4% |
| Profit (loss) for the period | 9904 | -€24,858 | -€19,673 | +€5,185 | +20.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,858 | -€19,673 | +€5,185 | +20.9% |
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 28 October 2026 via checked.be.