GROUPE 4: 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.
GROUPE 4
Largest movements
- Cash +€86,030
up €86,030 (+37.7%), from €227,931 to €313,961
mainly Net result for the year (+€53,137) and Depreciation (+€27,995)
- Tangible fixed assets -€27,995
down €27,995 (-5.8%), from €481,161 to €453,166
of which Land and buildings: -€27,688
- Profit (loss) carried forward +€53,137
up €53,137 (+15.3%), from -€347,656 to -€294,519
- Other debts +€8,467
new in 2025: €8,467
- Gross operating margin +€8,574
up €8,574 (+11.0%), from €77,706 to €86,280
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 | €709,092 | €768,357 | +€59,265 | +8.4% |
| Fixed assets | 21/28 | €481,161 | €453,166 | -€27,995 | -5.8% |
| Tangible fixed assets | 22/27 | €481,161 | €453,166 | -€27,995 | -5.8% |
| Land and buildings | 22 | €479,578 | €451,889 | -€27,688 | -5.8% |
| Other tangible fixed assets | 26 | €1,584 | €1,277 | -€307 | -19.4% |
| Current assets | 29/58 | €227,931 | €315,191 | +€87,260 | +38.3% |
| Cash at bank and in hand | 54/58 | €227,931 | €313,961 | +€86,030 | +37.7% |
| Deferred charges and accrued income | 490/1 | - | €1,230 | +€1,230 | |
| Total equity and liabilities | 10/49 | €709,092 | €768,357 | +€59,265 | +8.4% |
| Equity | 10/15 | €297,344 | €350,481 | +€53,137 | +17.9% |
| Contributions | 10/11 | €645,000 | €645,000 | = | 0.0% |
| Capital | 10 | €645,000 | €645,000 | = | 0.0% |
| Issued capital | 100 | €645,000 | €645,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€347,656 | -€294,519 | +€53,137 | +15.3% |
| Amounts payable | 17/49 | €411,748 | €417,875 | +€6,128 | +1.5% |
| Amounts payable after more than one year | 17 | €407,092 | €407,092 | = | 0.0% |
| Other amounts payable | 178/9 | €407,092 | €407,092 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,656 | €10,784 | +€6,128 | +132% |
| Trade debts | 44 | €4,333 | €1,993 | -€2,340 | -54.0% |
| Suppliers | 440/4 | €4,333 | €1,993 | -€2,340 | -54.0% |
| Advances received on contracts in progress | 46 | €324 | €324 | = | 0.0% |
| Other amounts payable | 47/48 | - | €8,467 | +€8,467 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,995 | €27,995 | = | 0.0% |
| Other operating charges | 640/8 | €4,257 | €4,998 | +€741 | +17.4% |
| Gross operating margin | 9900 | €77,706 | €86,280 | +€8,574 | +11.0% |
| Operating profit (loss) | 9901 | €45,454 | €53,287 | +€7,833 | +17.2% |
| Financial charges | 65/66B | €135 | €150 | +€15 | +11.1% |
| Recurring financial charges | 65 | €135 | €150 | +€15 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €45,319 | €53,137 | +€7,818 | +17.3% |
| Profit (loss) for the period | 9904 | €45,319 | €53,137 | +€7,818 | +17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €45,319 | €53,137 | +€7,818 | +17.3% |
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 25 October 2026 via checked.be.