H 4 V: 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.
H 4 V
Largest movements
- Cash +€27,131
up €27,131 (+2,076%), from €1,307 to €28,437
mainly Net result for the year (+€37,328) and Tax, wage and social debts (+€17,806)
- Receivables within one year -€5,279
down €5,279 (-7.2%), from €73,610 to €68,331
of which Other amounts receivable: -€10,686
- Tangible fixed assets -€3,055
down €3,055 (-69.9%), from €4,369 to €1,314
- Deferred charges and accrued income -€1,379
down €1,379 (-81.5%), from €1,693 to €313
- Profit (loss) carried forward +€37,328
up €37,328 (+454%), from €8,225 to €45,553
- Trade debts -€30,620
down €30,620 (-65.4%), from €46,850 to €16,229
- Tax, wage and social debts +€17,806
up €17,806 (+215%), from €8,294 to €26,100
of which Taxes: +€16,068
- Other debts -€7,096
down €7,096 (-74.3%), from €9,549 to €2,453
- Gross operating margin +€55,152
up €55,152 (+388%), from €14,229 to €69,381
- Taxes +€16,712
up €16,712 (+507%), from €3,294 to €20,006
- Staff costs +€2,791
new in 2025: €2,791
- Depreciation -€1,025
down €1,025 (-18.5%), from €5,531 to €4,506
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 | €80,978 | €98,396 | +€17,417 | +21.5% |
| Fixed assets | 21/28 | €4,369 | €1,314 | -€3,055 | -69.9% |
| Tangible fixed assets | 22/27 | €4,369 | €1,314 | -€3,055 | -69.9% |
| Furniture and vehicles | 24 | €4,369 | €1,314 | -€3,055 | -69.9% |
| Current assets | 29/58 | €76,609 | €97,082 | +€20,472 | +26.7% |
| Amounts receivable within one year | 40/41 | €73,610 | €68,331 | -€5,279 | -7.2% |
| Trade receivables | 40 | €62,924 | €68,331 | +€5,407 | +8.6% |
| Other amounts receivable | 41 | €10,686 | €0 | -€10,686 | -100% |
| Cash at bank and in hand | 54/58 | €1,307 | €28,437 | +€27,131 | +2,076% |
| Deferred charges and accrued income | 490/1 | €1,693 | €313 | -€1,379 | -81.5% |
| Total equity and liabilities | 10/49 | €80,978 | €98,396 | +€17,417 | +21.5% |
| Equity | 10/15 | €16,285 | €53,613 | +€37,328 | +229% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,225 | €45,553 | +€37,328 | +454% |
| Amounts payable | 17/49 | €64,693 | €44,783 | -€19,910 | -30.8% |
| Amounts payable within one year | 42/48 | €64,693 | €44,783 | -€19,910 | -30.8% |
| Trade debts | 44 | €46,850 | €16,229 | -€30,620 | -65.4% |
| Suppliers | 440/4 | €46,850 | €16,229 | -€30,620 | -65.4% |
| Taxes, remuneration and social security | 45 | €8,294 | €26,100 | +€17,806 | +215% |
| Taxes | 450/3 | €7,294 | €23,362 | +€16,068 | +220% |
| Remuneration and social security | 454/9 | €1,000 | €2,737 | +€1,737 | +174% |
| Other amounts payable | 47/48 | €9,549 | €2,453 | -€7,096 | -74.3% |
| Remuneration, social security and pensions | 62 | - | €2,791 | +€2,791 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,531 | €4,506 | -€1,025 | -18.5% |
| Other operating charges | 640/8 | €3,535 | €4,203 | +€668 | +18.9% |
| Gross operating margin | 9900 | €14,229 | €69,381 | +€55,152 | +388% |
| Operating profit (loss) | 9901 | €5,163 | €57,880 | +€52,717 | +1,021% |
| Financial income | 75/76B | €202 | €15 | -€187 | -92.6% |
| Recurring financial income | 75 | €202 | €15 | -€187 | -92.6% |
| Financial charges | 65/66B | €717 | €562 | -€155 | -21.6% |
| Recurring financial charges | 65 | €717 | €562 | -€155 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €4,648 | €57,333 | +€52,686 | +1,134% |
| Income taxes | 67/77 | €3,294 | €20,006 | +€16,712 | +507% |
| Profit (loss) for the period | 9904 | €1,354 | €37,328 | +€35,974 | +2,658% |
| Profit (loss) for the period to be appropriated | 9905 | €1,354 | €37,328 | +€35,974 | +2,658% |
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 23 October 2026 via checked.be.