Passion4Growth: 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.
Passion4Growth
Largest movements
- Cash -€7,606
down €7,606 (-8.8%), from €86,722 to €79,116
mainly Net result for the year (-€11,811) and Receivables within one year (-€3,997)
- Receivables within one year +€3,997
up €3,997 (+25.6%), from €15,609 to €19,606
- Tangible fixed assets -€2,840
down €2,840 (-51.1%), from €5,557 to €2,717
of which Plant, machinery and equipment: -€1,440
- Reserves -€11,811
down €11,811 (-14.2%), from €83,377 to €71,566
- Tax, wage and social debts +€6,579
up €6,579 (+88.8%), from €7,409 to €13,988
- Gross operating margin -€109,785
down €109,785, from €108,215 to -€1,570
- Taxes -€21,099
down €21,099 (-98.1%), from €21,501 to €403
- Other operating charges -€1,199
down €1,199 (-69.9%), from €1,717 to €517
- Financial charges -€1,111
down €1,111 (-14.6%), from €7,592 to €6,481
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 | €129,743 | €123,682 | -€6,060 | -4.7% |
| Fixed assets | 21/28 | €25,557 | €22,717 | -€2,840 | -11.1% |
| Tangible fixed assets | 22/27 | €5,557 | €2,717 | -€2,840 | -51.1% |
| Plant, machinery and equipment | 23 | €1,848 | €408 | -€1,440 | -77.9% |
| Furniture and vehicles | 24 | €3,709 | €2,309 | -€1,400 | -37.7% |
| Financial fixed assets | 28 | €20,000 | €20,000 | = | 0.0% |
| Current assets | 29/58 | €104,186 | €100,965 | -€3,221 | -3.1% |
| Amounts receivable within one year | 40/41 | €15,609 | €19,606 | +€3,997 | +25.6% |
| Trade receivables | 40 | €15,609 | €19,606 | +€3,997 | +25.6% |
| Cash at bank and in hand | 54/58 | €86,722 | €79,116 | -€7,606 | -8.8% |
| Deferred charges and accrued income | 490/1 | €1,854 | €2,243 | +€388 | +20.9% |
| Total equity and liabilities | 10/49 | €129,743 | €123,682 | -€6,060 | -4.7% |
| Equity | 10/15 | €88,377 | €76,566 | -€11,811 | -13.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €83,377 | €71,566 | -€11,811 | -14.2% |
| Distributable reserves | 133 | €83,377 | €71,566 | -€11,811 | -14.2% |
| Amounts payable | 17/49 | €41,366 | €47,117 | +€5,751 | +13.9% |
| Amounts payable within one year | 42/48 | €41,366 | €47,117 | +€5,751 | +13.9% |
| Trade debts | 44 | €644 | €9 | -€635 | -98.6% |
| Suppliers | 440/4 | €644 | €9 | -€635 | -98.6% |
| Taxes, remuneration and social security | 45 | €7,409 | €13,988 | +€6,579 | +88.8% |
| Taxes | 450/3 | €7,409 | €13,988 | +€6,579 | +88.8% |
| Other amounts payable | 47/48 | €33,313 | €33,120 | -€193 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,521 | €2,840 | -€682 | -19.4% |
| Other operating charges | 640/8 | €1,717 | €517 | -€1,199 | -69.9% |
| Gross operating margin | 9900 | €108,215 | -€1,570 | -€109,785 | |
| Operating profit (loss) | 9901 | €102,977 | -€4,927 | -€107,904 | |
| Financial charges | 65/66B | €7,592 | €6,481 | -€1,111 | -14.6% |
| Recurring financial charges | 65 | €7,592 | €6,481 | -€1,111 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €95,385 | -€11,409 | -€106,793 | |
| Income taxes | 67/77 | €21,501 | €403 | -€21,099 | -98.1% |
| Profit (loss) for the period | 9904 | €73,884 | -€11,811 | -€85,695 | |
| Profit (loss) for the period to be appropriated | 9905 | €73,884 | -€11,811 | -€85,695 |
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.