K4: 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.
K4
Largest movements
- Cash +€43,083
up €43,083 (+124.3%), from €34,648 to €77,731
mainly Other debts (+€37,540) and Depreciation (+€19,815)
- Tangible fixed assets -€18,902
down €18,902 (-9.2%), from €205,871 to €186,968
of which Land and buildings: -€18,002
- Other debts +€37,540
up €37,540 (+47.8%), from €78,495 to €116,035
- Contributions -€19,000
down €19,000 (-95.0%), from €20,000 to €1,000
- Reserves +€4,197
up €4,197 (+3.4%), from €123,570 to €127,767
of which Distributable reserves: +€13,862
- Provisions -€3,222
down €3,222 (-14.3%), from €22,553 to €19,331
- Gross operating margin -€2,807
down €2,807 (-8.6%), from €32,703 to €29,896
- Other operating charges +€1,805
up €1,805, from €0 to €1,805
- Depreciation -€1,282
down €1,282 (-6.1%), from €21,096 to €19,815
- Taxes +€1,255
up €1,255 (+21.3%), from €5,904 to €7,158
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €246,278 | €268,128 | +€21,850 | +8.9% |
| Fixed assets | 21/28 | €205,871 | €186,968 | -€18,902 | -9.2% |
| Tangible fixed assets | 22/27 | €205,871 | €186,968 | -€18,902 | -9.2% |
| Land and buildings | 22 | €201,913 | €183,911 | -€18,002 | -8.9% |
| Plant, machinery and equipment | 23 | €2,652 | €2,430 | -€222 | -8.4% |
| Furniture and vehicles | 24 | €1,306 | €627 | -€678 | -52.0% |
| Current assets | 29/58 | €40,407 | €81,160 | +€40,753 | +100.9% |
| Amounts receivable within one year | 40/41 | €5,483 | €3,020 | -€2,463 | -44.9% |
| Trade receivables | 40 | €375 | €944 | +€569 | +151.6% |
| Other amounts receivable | 41 | €5,108 | €2,076 | -€3,032 | -59.4% |
| Cash at bank and in hand | 54/58 | €34,648 | €77,731 | +€43,083 | +124.3% |
| Deferred charges and accrued income | 490/1 | €276 | €409 | +€132 | +47.9% |
| Total equity and liabilities | 10/49 | €246,278 | €268,128 | +€21,850 | +8.9% |
| Equity | 10/15 | €143,570 | €128,767 | -€14,803 | -10.3% |
| Contributions | 10/11 | €20,000 | €1,000 | -€19,000 | -95.0% |
| Reserves | 13 | €123,570 | €127,767 | +€4,197 | +3.4% |
| Tax-exempt reserves | 132 | €67,659 | €57,993 | -€9,666 | -14.3% |
| Distributable reserves | 133 | €55,911 | €69,773 | +€13,862 | +24.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | -€0 | -100.0% |
| Provisions and deferred taxes | 16 | €22,553 | €19,331 | -€3,222 | -14.3% |
| Deferred taxes | 168 | €22,553 | €19,331 | -€3,222 | -14.3% |
| Amounts payable | 17/49 | €80,155 | €120,030 | +€39,876 | +49.7% |
| Amounts payable after more than one year | 17 | €335 | €130 | -€205 | -61.2% |
| Other amounts payable | 178/9 | €335 | €130 | -€205 | -61.2% |
| Amounts payable within one year | 42/48 | €79,820 | €119,900 | +€40,081 | +50.2% |
| Trade debts | 44 | €1,027 | €2,603 | +€1,577 | +153.6% |
| Suppliers | 440/4 | €1,027 | €2,603 | +€1,577 | +153.6% |
| Taxes, remuneration and social security | 45 | €299 | €1,262 | +€964 | +322.7% |
| Taxes | 450/3 | €299 | €1,262 | +€964 | +322.7% |
| Other amounts payable | 47/48 | €78,495 | €116,035 | +€37,540 | +47.8% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,096 | €19,815 | -€1,282 | -6.1% |
| Other operating charges | 640/8 | €0 | €1,805 | +€1,805 | |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €32,703 | €29,896 | -€2,807 | -8.6% |
| Operating profit (loss) | 9901 | €11,606 | €8,275 | -€3,331 | -28.7% |
| Financial income | 75/76B | €18 | €6 | -€12 | -68.4% |
| Recurring financial income | 75 | €18 | €6 | -€12 | -68.4% |
| Financial charges | 65/66B | €122 | €147 | +€25 | +20.7% |
| Recurring financial charges | 65 | €122 | €147 | +€25 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | €11,502 | €8,133 | -€3,368 | -29.3% |
| Transfer from deferred taxes | 780 | €3,222 | €3,222 | = | 0.0% |
| Income taxes | 67/77 | €5,904 | €7,158 | +€1,255 | +21.3% |
| Profit (loss) for the period | 9904 | €8,820 | €4,197 | -€4,623 | -52.4% |
| Transfer from tax-exempt reserves | 789 | €9,666 | €9,666 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | €0 | -€0 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,485 | €13,862 | -€4,623 | -25.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.