FOURSEC: 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.
FOURSEC
Largest movements
- Cash +€99,624
up €99,624 (+43.1%), from €230,944 to €330,568
mainly Net result for the year (+€114,912) and Depreciation (+€29,640)
- Receivables within one year +€35,917
up €35,917 (+38.6%), from €92,993 to €128,911
of which Other amounts receivable: +€28,355
- Tangible fixed assets -€21,540
down €21,540 (-25.9%), from €83,043 to €61,502
of which Furniture and vehicles: -€20,466
- Profit (loss) carried forward +€114,912
up €114,912 (+34.2%), from €336,291 to €451,202
- Gross operating margin +€22,983
up €22,983 (+14.3%), from €160,498 to €183,480
- Taxes +€7,276
up €7,276 (+22.5%), from €32,289 to €39,565
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 | €406,980 | €520,981 | +€114,001 | +28.0% |
| Fixed assets | 21/28 | €83,043 | €61,502 | -€21,540 | -25.9% |
| Tangible fixed assets | 22/27 | €83,043 | €61,502 | -€21,540 | -25.9% |
| Plant, machinery and equipment | 23 | €2,883 | €1,809 | -€1,074 | -37.3% |
| Furniture and vehicles | 24 | €80,160 | €59,694 | -€20,466 | -25.5% |
| Current assets | 29/58 | €323,937 | €459,478 | +€135,541 | +41.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €92,993 | €128,911 | +€35,917 | +38.6% |
| Trade receivables | 40 | - | €7,563 | +€7,563 | |
| Other amounts receivable | 41 | €92,993 | €121,348 | +€28,355 | +30.5% |
| Cash at bank and in hand | 54/58 | €230,944 | €330,568 | +€99,624 | +43.1% |
| Total equity and liabilities | 10/49 | €406,980 | €520,981 | +€114,001 | +28.0% |
| Equity | 10/15 | €346,291 | €461,202 | +€114,912 | +33.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €336,291 | €451,202 | +€114,912 | +34.2% |
| Amounts payable | 17/49 | €60,689 | €59,778 | -€911 | -1.5% |
| Amounts payable within one year | 42/48 | €60,689 | €59,778 | -€911 | -1.5% |
| Trade debts | 44 | €120 | €129 | +€9 | +7.1% |
| Suppliers | 440/4 | €120 | €129 | +€9 | +7.1% |
| Taxes, remuneration and social security | 45 | €60,569 | €59,650 | -€919 | -1.5% |
| Taxes | 450/3 | €60,569 | €59,650 | -€919 | -1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,774 | €29,640 | -€134 | -0.4% |
| Other operating charges | 640/8 | €4,209 | €4,253 | +€44 | +1.0% |
| Gross operating margin | 9900 | €160,498 | €183,480 | +€22,983 | +14.3% |
| Operating profit (loss) | 9901 | €126,515 | €149,587 | +€23,073 | +18.2% |
| Financial income | 75/76B | €4,133 | €4,995 | +€862 | +20.9% |
| Recurring financial income | 75 | €4,133 | €4,995 | +€862 | +20.9% |
| Financial charges | 65/66B | €104 | €105 | +€2 | +1.4% |
| Recurring financial charges | 65 | €104 | €105 | +€2 | +1.4% |
| Profit (loss) for the period before taxes | 9903 | €130,544 | €154,477 | +€23,933 | +18.3% |
| Income taxes | 67/77 | €32,289 | €39,565 | +€7,276 | +22.5% |
| Profit (loss) for the period | 9904 | €98,255 | €114,912 | +€16,657 | +17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €98,255 | €114,912 | +€16,657 | +17.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.