Number4: 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.
Number4
Largest movements
- Stocks and contracts +€171,752
up €171,752 (+20.1%), from €856,048 to €1.0m
- Receivables within one year +€169,888
up €169,888 (+43.0%), from €394,644 to €564,532
of which Other amounts receivable: +€148,795
- Cash -€110,872
down €110,872 (-15.5%), from €715,897 to €605,025
mainly Stocks and contracts (-€171,752) and Receivables within one year (-€169,888)
- Tangible fixed assets -€34,583
down €34,583 (-23.6%), from €146,593 to €112,010
of which Other tangible fixed assets: -€33,074
- Trade debts +€103,290
up €103,290 (+71.1%), from €145,179 to €248,469
- Profit (loss) carried forward +€56,546
up €56,546 (+24.7%), from €229,206 to €285,752
- Debts after one year +€35,332
new in 2026: €35,332
- Gross operating margin -€386,297
down €386,297 (-30.8%), from €1.3m to €869,789
- Write-downs -€275,023
down €275,023, from €110,382 to -€164,641
- Financial income +€39,839
up €39,839 (+73.0%), from €54,603 to €94,441
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,123,853 | €2,336,306 | +€212,453 | +10.0% |
| Fixed assets | 21/28 | €157,265 | €138,478 | -€18,787 | -11.9% |
| Intangible fixed assets | 21 | €9,793 | €25,589 | +€15,796 | +161.3% |
| Tangible fixed assets | 22/27 | €146,593 | €112,010 | -€34,583 | -23.6% |
| Plant, machinery and equipment | 23 | €3,003 | €2,638 | -€365 | -12.2% |
| Furniture and vehicles | 24 | €1,143 | €0 | -€1,143 | -100.0% |
| Other tangible fixed assets | 26 | €142,446 | €109,372 | -€33,074 | -23.2% |
| Financial fixed assets | 28 | €879 | €879 | = | 0.0% |
| Current assets | 29/58 | €1,966,588 | €2,197,828 | +€231,240 | +11.8% |
| Stocks and contracts in progress | 3 | €856,048 | €1,027,799 | +€171,752 | +20.1% |
| Stocks | 30/36 | €856,048 | €1,027,799 | +€171,752 | +20.1% |
| Amounts receivable within one year | 40/41 | €394,644 | €564,532 | +€169,888 | +43.0% |
| Trade receivables | 40 | €0 | €21,093 | +€21,093 | |
| Other amounts receivable | 41 | €394,644 | €543,439 | +€148,795 | +37.7% |
| Cash at bank and in hand | 54/58 | €715,897 | €605,025 | -€110,872 | -15.5% |
| Deferred charges and accrued income | 490/1 | - | €472 | +€472 | |
| Total equity and liabilities | 10/49 | €2,123,853 | €2,336,306 | +€212,453 | +10.0% |
| Equity | 10/15 | €1,736,303 | €1,792,848 | +€56,546 | +3.3% |
| Contributions | 10/11 | €1,500,670 | €1,500,670 | = | 0.0% |
| Capital | 10 | €1,500,670 | €1,500,670 | = | 0.0% |
| Issued capital | 100 | €1,513,170 | €1,513,170 | = | 0.0% |
| Uncalled capital | 101 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €6,427 | €6,427 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,427 | €6,427 | = | 0.0% |
| Legal reserve | 130 | €6,427 | €6,427 | = | 0.0% |
| Profit (loss) carried forward | 14 | €229,206 | €285,752 | +€56,546 | +24.7% |
| Amounts payable | 17/49 | €387,550 | €543,458 | +€155,908 | +40.2% |
| Amounts payable after more than one year | 17 | - | €35,332 | +€35,332 | |
| Financial debts | 170/4 | - | €35,332 | +€35,332 | |
| Amounts payable within one year | 42/48 | €334,770 | €455,256 | +€120,486 | +36.0% |
| Trade debts | 44 | €145,179 | €248,469 | +€103,290 | +71.1% |
| Suppliers | 440/4 | €145,179 | €248,469 | +€103,290 | +71.1% |
| Advances received on contracts in progress | 46 | €44,469 | €41,435 | -€3,034 | -6.8% |
| Taxes, remuneration and social security | 45 | €145,122 | €165,352 | +€20,230 | +13.9% |
| Taxes | 450/3 | €40,729 | €54,262 | +€13,533 | +33.2% |
| Remuneration and social security | 454/9 | €104,394 | €111,090 | +€6,697 | +6.4% |
| Accrued charges and deferred income | 492/3 | €52,780 | €52,870 | +€90 | +0.2% |
| Remuneration, social security and pensions | 62 | €949,242 | €943,840 | -€5,402 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,008 | €88,967 | +€4,959 | +5.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €110,382 | -€164,641 | -€275,023 | |
| Other operating charges | 640/8 | €8,987 | €7,648 | -€1,339 | -14.9% |
| Non-recurring operating charges | 66A | - | €9,875 | +€9,875 | |
| Gross operating margin | 9900 | €1,256,087 | €869,789 | -€386,297 | -30.8% |
| Operating profit (loss) | 9901 | €103,467 | -€15,901 | -€119,368 | |
| Financial income | 75/76B | €54,603 | €94,441 | +€39,839 | +73.0% |
| Recurring financial income | 75 | €54,603 | €94,441 | +€39,839 | +73.0% |
| Financial charges | 65/66B | €11,279 | €21,642 | +€10,363 | +91.9% |
| Recurring financial charges | 65 | €11,279 | €21,642 | +€10,363 | +91.9% |
| Profit (loss) for the period before taxes | 9903 | €146,791 | €56,899 | -€89,892 | -61.2% |
| Income taxes | 67/77 | €418 | €354 | -€65 | -15.5% |
| Profit (loss) for the period | 9904 | €146,373 | €56,546 | -€89,827 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €146,373 | €56,546 | -€89,827 | -61.4% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.