NEW 4 AS: 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
NEW 4 AS
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€233,363
2024 · -€142,130-€91,233
Equity
€1.8m
2024 · €2.1m-€233,363
Cash
€264,150
2024 · €869,449-€605,299
Balance sheet total
€3.3m
2024 · €3.5m-€203,171
Largest movements
Assets
- Cash -€605,299
down €605,299 (-69.6%), from €869,449 to €264,150
mainly Investment in fixed assets (net) (-€561,988) and Net result for the year (-€233,363)
- Tangible fixed assets +€427,398
up €427,398 (+22.3%), from €1.9m to €2.3m
of which Plant, machinery and equipment: +€520,114
Equity and liabilities
- Reserves -€233,363
down €233,363 (-11.7%), from €2.0m to €1.8m
of which Non-distributable reserves: -€204,000
- Current portion of long-term debt +€120,434
up €120,434 (+200%), from €60,267 to €180,701
- Debts after one year -€80,701
down €80,701 (-7.3%), from €1.1m to €1.0m
Income statement
- Depreciation +€88,117
up €88,117 (+190%), from €46,473 to €134,589
- Gross operating margin +€84,059
up €84,059 (+61.8%), from -€135,957 to -€51,898
- Write-downs +€37,980
up €37,980, from -€37,980 to €0
- Financial charges +€29,632
up €29,632 (+135%), from €21,871 to €51,503
- Financial income -€27,504
down €27,504 (-88.2%), from €31,193 to €3,689
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
-€142,130
Gross operating margin
+€84,059
Staff costs
+€235
Depreciation
-€88,117
Write-downs
-€37,980
Other operating charges
-€3,957
Financial income
-€27,504
Financial charges
-€29,632
Taxes
-€304
Deferred taxes and other
+€11,966
Result 2025
-€233,363
raises the resultlowers the resultnot broken down further in the accounts
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
-€83,044
Investment
-€561,988
Financing
+€39,733
Cash 2024
€869,449
From operations (derived)
-€83,044
Net result for the year
-€233,363
Depreciation
+€134,589
Receivables within one year
+€28,179
Deferred charges and accrued income
-€2,909
Provisions
-€17,723
Trade debts
+€17,090
Tax, wage and social debts
-€8,847
Accrued charges and deferred income
-€61
Investment (derived)
-€561,988
Investment in fixed assets (net)
-€561,988
Financing
+€39,733
Debts after one year
-€80,701
Current portion of long-term debt
+€120,434
Cash 2025
€264,150
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,504,333 | €3,301,162 | -€203,171 | -5.8% |
| Fixed assets | 21/28 | €2,175,332 | €2,602,731 | +€427,398 | +19.6% |
| Tangible fixed assets | 22/27 | €1,914,975 | €2,342,374 | +€427,398 | +22.3% |
| Land and buildings | 22 | €1,814,689 | €1,745,117 | -€69,572 | -3.8% |
| Plant, machinery and equipment | 23 | €11,746 | €531,860 | +€520,114 | +4,428% |
| Furniture and vehicles | 24 | €88,541 | €65,397 | -€23,144 | -26.1% |
| Financial fixed assets | 28 | €260,357 | €260,357 | = | 0.0% |
| Current assets | 29/58 | €1,329,000 | €698,431 | -€630,569 | -47.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €352,460 | €324,282 | -€28,179 | -8.0% |
| Trade receivables | 40 | €145,429 | €168,518 | +€23,089 | +15.9% |
| Other amounts receivable | 41 | €207,031 | €155,764 | -€51,267 | -24.8% |
| Current investments | 50/53 | €100,000 | €100,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €869,449 | €264,150 | -€605,299 | -69.6% |
| Deferred charges and accrued income | 490/1 | €7,091 | €10,000 | +€2,909 | +41.0% |
| Total equity and liabilities | 10/49 | €3,504,333 | €3,301,162 | -€203,171 | -5.8% |
| Equity | 10/15 | €2,063,488 | €1,830,125 | -€233,363 | -11.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,001,488 | €1,768,125 | -€233,363 | -11.7% |
| Non-distributable reserves | 130/1 | €210,200 | €6,200 | -€204,000 | -97.1% |
| Legal reserve | 130 | €210,200 | €6,200 | -€204,000 | -97.1% |
| Tax-exempt reserves | 132 | €682,614 | €629,446 | -€53,168 | -7.8% |
| Distributable reserves | 133 | €1,108,674 | €1,132,479 | +€23,805 | +2.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €227,538 | €209,815 | -€17,723 | -7.8% |
| Deferred taxes | 168 | €227,538 | €209,815 | -€17,723 | -7.8% |
| Amounts payable | 17/49 | €1,213,307 | €1,261,222 | +€47,915 | +3.9% |
| Amounts payable after more than one year | 17 | €1,108,612 | €1,027,910 | -€80,701 | -7.3% |
| Financial debts | 170/4 | €1,108,612 | €1,027,910 | -€80,701 | -7.3% |
| Amounts payable within one year | 42/48 | €104,634 | €233,312 | +€128,678 | +123% |
| Current portion of amounts payable after more than one year | 42 | €60,267 | €180,701 | +€120,434 | +200% |
| Trade debts | 44 | €35,077 | €52,167 | +€17,090 | +48.7% |
| Suppliers | 440/4 | €35,077 | €52,167 | +€17,090 | +48.7% |
| Taxes, remuneration and social security | 45 | €9,290 | €444 | -€8,847 | -95.2% |
| Taxes | 450/3 | €1,620 | €444 | -€1,177 | -72.6% |
| Remuneration and social security | 454/9 | €7,670 | €0 | -€7,670 | -100% |
| Accrued charges and deferred income | 492/3 | €61 | €0 | -€61 | -100% |
| Non-recurring operating income | 76A | €250 | €0 | -€250 | -100% |
| Remuneration, social security and pensions | 62 | €235 | €0 | -€235 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,473 | €134,589 | +€88,117 | +190% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€37,980 | €0 | +€37,980 | |
| Other operating charges | 640/8 | €11,819 | €15,776 | +€3,957 | +33.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | -€135,957 | -€51,898 | +€84,059 | +61.8% |
| Operating profit (loss) | 9901 | -€156,504 | -€202,263 | -€45,759 | -29.2% |
| Financial income | 75/76B | €31,193 | €3,689 | -€27,504 | -88.2% |
| Recurring financial income | 75 | €31,193 | €3,689 | -€27,504 | -88.2% |
| Financial charges | 65/66B | €21,871 | €51,503 | +€29,632 | +135% |
| Recurring financial charges | 65 | €21,871 | €51,503 | +€29,632 | +135% |
| Profit (loss) for the period before taxes | 9903 | -€147,182 | -€250,077 | -€102,895 | -69.9% |
| Transfer from deferred taxes | 780 | €5,756 | €17,723 | +€11,966 | +208% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €705 | €1,009 | +€304 | +43.1% |
| Profit (loss) for the period | 9904 | -€142,130 | -€233,363 | -€91,233 | -64.2% |
| Transfer from tax-exempt reserves | 789 | €17,269 | €53,168 | +€35,899 | +208% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€124,860 | -€180,195 | -€55,334 | -44.3% |
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 28 October 2026 via checked.be.