GO4 Management: 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.
GO4 Management
Largest movements
- Financial fixed assets +€742,000
up €742,000 (+74,200%), from €1,000 to €743,000
- Receivables within one year +€10,052
up €10,052 (+30.7%), from €32,781 to €42,833
of which Trade receivables: +€19,843
- Debts after one year +€629,142
new in 2025: €629,142
- Current portion of long-term debt +€75,884
new in 2025: €75,884
- Other debts +€45,934
up €45,934 (+257%), from €17,839 to €63,773
- Reserves -€17,216
down €17,216 (-71.3%), from €24,159 to €6,943
- Accrued charges and deferred income +€9,000
new in 2025: €9,000
- Financial charges +€9,863
up €9,863 (+4,795%), from €206 to €10,069
- Other operating charges -€7,947
down €7,947 (-84.0%), from €9,463 to €1,516
- Gross operating margin -€2,357
down €2,357 (-93.4%), from -€2,523 to -€4,880
- Depreciation -€376
down €376 (-40.6%), from €926 to €550
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 | €51,479 | €795,479 | +€744,000 | +1,445% |
| Fixed assets | 21/28 | €4,672 | €746,122 | +€741,450 | +15,870% |
| Tangible fixed assets | 22/27 | €3,672 | €3,122 | -€550 | -15.0% |
| Other tangible fixed assets | 26 | €3,672 | €3,122 | -€550 | -15.0% |
| Financial fixed assets | 28 | €1,000 | €743,000 | +€742,000 | +74,200% |
| Current assets | 29/58 | €46,807 | €49,357 | +€2,550 | +5.4% |
| Amounts receivable within one year | 40/41 | €32,781 | €42,833 | +€10,052 | +30.7% |
| Trade receivables | 40 | €22,990 | €42,833 | +€19,843 | +86.3% |
| Other amounts receivable | 41 | €9,791 | €0 | -€9,791 | -100% |
| Cash at bank and in hand | 54/58 | €4,324 | €1,434 | -€2,891 | -66.8% |
| Deferred charges and accrued income | 490/1 | €9,702 | €5,090 | -€4,612 | -47.5% |
| Total equity and liabilities | 10/49 | €51,479 | €795,479 | +€744,000 | +1,445% |
| Equity | 10/15 | €26,159 | €8,943 | -€17,216 | -65.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €24,159 | €6,943 | -€17,216 | -71.3% |
| Distributable reserves | 133 | €24,159 | €6,943 | -€17,216 | -71.3% |
| Amounts payable | 17/49 | €25,320 | €786,536 | +€761,216 | +3,006% |
| Amounts payable after more than one year | 17 | - | €629,142 | +€629,142 | |
| Financial debts | 170/4 | - | €629,142 | +€629,142 | |
| Amounts payable within one year | 42/48 | €25,320 | €148,394 | +€123,074 | +486% |
| Current portion of amounts payable after more than one year | 42 | - | €75,884 | +€75,884 | |
| Trade debts | 44 | €1,433 | €0 | -€1,433 | -100% |
| Suppliers | 440/4 | €1,433 | €0 | -€1,433 | -100% |
| Taxes, remuneration and social security | 45 | €6,048 | €8,736 | +€2,689 | +44.5% |
| Taxes | 450/3 | €6,048 | €6,192 | +€144 | +2.4% |
| Remuneration and social security | 454/9 | - | €2,544 | +€2,544 | |
| Other amounts payable | 47/48 | €17,839 | €63,773 | +€45,934 | +257% |
| Accrued charges and deferred income | 492/3 | - | €9,000 | +€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €926 | €550 | -€376 | -40.6% |
| Other operating charges | 640/8 | €9,463 | €1,516 | -€7,947 | -84.0% |
| Gross operating margin | 9900 | -€2,523 | -€4,880 | -€2,357 | -93.4% |
| Operating profit (loss) | 9901 | -€12,911 | -€6,945 | +€5,966 | +46.2% |
| Financial income | 75/76B | - | €40 | +€40 | |
| Recurring financial income | 75 | - | €40 | +€40 | |
| Financial charges | 65/66B | €206 | €10,069 | +€9,863 | +4,795% |
| Recurring financial charges | 65 | €206 | €10,069 | +€9,863 | +4,795% |
| Profit (loss) for the period before taxes | 9903 | -€13,117 | -€16,974 | -€3,857 | -29.4% |
| Income taxes | 67/77 | €213 | €242 | +€29 | +13.8% |
| Profit (loss) for the period | 9904 | -€13,330 | -€17,216 | -€3,886 | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,330 | -€17,216 | -€3,886 | -29.2% |
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 16 October 2026 via checked.be.