K4: 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.
What changed
K4
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,043
2024 · €31,569-€27,525
Equity
€742,238
2024 · €738,195+€4,043
Cash
€9,571
2024 · €7,659+€1,912
Balance sheet total
€1.1m
2024 · €1.1m-€42,226
Largest movements
Assets
- Receivables within one year -€50,372
down €50,372 (-26.0%), from €193,744 to €143,372
of which Other amounts receivable: -€39,991
Equity and liabilities
- Current portion of long-term debt -€39,470
down €39,470 (-75.0%), from €52,628 to €13,158
Income statement
- Gross operating margin -€31,176
down €31,176 (-58.4%), from €53,355 to €22,179
- Taxes -€5,064
down €5,064 (-55.2%), from €9,175 to €4,111
- Financial income -€1,256
down €1,256 (-100.0%), from €1,257 to €0
- Depreciation +€634
new in 2025: €634
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.
Result 2024
€31,569
Gross operating margin
-€31,176
Depreciation
-€634
Other operating charges
-€42
Financial income
-€1,256
Financial charges
+€520
Taxes
+€5,064
Result 2025
€4,043
raises the resultlowers the result
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.
From operations
+€53,362
Investment
-€6,612
Financing
-€44,837
Cash 2024
€7,659
From operations (derived)
+€53,362
Net result for the year
+€4,043
Depreciation
+€634
Receivables within one year
+€50,372
Deferred charges and accrued income
-€255
Trade debts
-€18
Tax, wage and social debts
+€2,980
Other debts
-€4,394
Investment (derived)
-€6,612
Investment in fixed assets (net)
-€6,612
Financing
-€44,837
Debts after one year
-€5,367
Current portion of long-term debt
-€39,470
Cash 2025
€9,571
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,105,624 | €1,063,398 | -€42,226 | -3.8% |
| Fixed assets | 21/28 | €888,806 | €894,784 | +€5,978 | +0.7% |
| Tangible fixed assets | 22/27 | - | €5,978 | +€5,978 | |
| Furniture and vehicles | 24 | - | €5,978 | +€5,978 | |
| Financial fixed assets | 28 | €888,806 | €888,806 | = | 0.0% |
| Current assets | 29/58 | €216,818 | €168,613 | -€48,205 | -22.2% |
| Stocks and contracts in progress | 3 | €8,476 | €8,476 | = | 0.0% |
| Stocks | 30/36 | €8,476 | €8,476 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €193,744 | €143,372 | -€50,372 | -26.0% |
| Trade receivables | 40 | €27,730 | €17,349 | -€10,381 | -37.4% |
| Other amounts receivable | 41 | €166,014 | €126,023 | -€39,991 | -24.1% |
| Cash at bank and in hand | 54/58 | €7,659 | €9,571 | +€1,912 | +25.0% |
| Deferred charges and accrued income | 490/1 | €6,940 | €7,195 | +€255 | +3.7% |
| Total equity and liabilities | 10/49 | €1,105,624 | €1,063,398 | -€42,226 | -3.8% |
| Equity | 10/15 | €738,195 | €742,238 | +€4,043 | +0.5% |
| Contributions | 10/11 | €153,850 | €153,850 | = | 0.0% |
| Profit (loss) carried forward | 14 | €584,345 | €588,388 | +€4,043 | +0.7% |
| Amounts payable | 17/49 | €367,429 | €321,159 | -€46,270 | -12.6% |
| Amounts payable after more than one year | 17 | €287,835 | €282,467 | -€5,367 | -1.9% |
| Financial debts | 170/4 | €13,158 | - | -€13,158 | |
| Other amounts payable | 178/9 | €274,677 | €282,467 | +€7,791 | +2.8% |
| Amounts payable within one year | 42/48 | €77,595 | €36,692 | -€40,902 | -52.7% |
| Current portion of amounts payable after more than one year | 42 | €52,628 | €13,158 | -€39,470 | -75.0% |
| Trade debts | 44 | €1,408 | €1,389 | -€18 | -1.3% |
| Suppliers | 440/4 | €1,408 | €1,389 | -€18 | -1.3% |
| Taxes, remuneration and social security | 45 | €7,937 | €10,917 | +€2,980 | +37.5% |
| Taxes | 450/3 | €7,937 | €8,017 | +€80 | +1.0% |
| Remuneration and social security | 454/9 | - | €2,900 | +€2,900 | |
| Other amounts payable | 47/48 | €15,622 | €11,228 | -€4,394 | -28.1% |
| Accrued charges and deferred income | 492/3 | €2,000 | €2,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €634 | +€634 | |
| Other operating charges | 640/8 | €1,761 | €1,803 | +€42 | +2.4% |
| Gross operating margin | 9900 | €53,355 | €22,179 | -€31,176 | -58.4% |
| Operating profit (loss) | 9901 | €51,595 | €19,742 | -€31,853 | -61.7% |
| Financial income | 75/76B | €1,257 | €0 | -€1,256 | -100.0% |
| Recurring financial income | 75 | €1,257 | €0 | -€1,256 | -100.0% |
| Financial charges | 65/66B | €12,108 | €11,588 | -€520 | -4.3% |
| Recurring financial charges | 65 | €12,108 | €11,588 | -€520 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €40,744 | €8,155 | -€32,589 | -80.0% |
| Income taxes | 67/77 | €9,175 | €4,111 | -€5,064 | -55.2% |
| Profit (loss) for the period | 9904 | €31,569 | €4,043 | -€27,525 | -87.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,569 | €4,043 | -€27,525 | -87.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.