PHOTO4YOU: 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.
PHOTO4YOU
Largest movements
- Cash +€76,603
up €76,603 (+46.2%), from €165,868 to €242,471
mainly Net result for the year (+€64,642) and Tax, wage and social debts (+€16,685)
- Receivables within one year +€10,305
up €10,305 (+85.6%), from €12,032 to €22,337
of which Trade receivables: +€10,346
- Tangible fixed assets -€7,205
down €7,205 (-5.3%), from €136,384 to €129,179
- Profit (loss) carried forward +€65,989
new in 2025: €65,989
- Tax, wage and social debts +€16,685
up €16,685 (+49.7%), from €33,543 to €50,228
- Trade debts -€9,945
down €9,945 (-60.8%), from €16,356 to €6,411
- Advances received +€8,825
up €8,825 (+72.7%), from €12,132 to €20,957
- Current portion of long-term debt -€5,540
no longer reported in 2025 (was €5,540)
- Gross operating margin +€16,989
up €16,989 (+20.6%), from €82,644 to €99,633
- Depreciation -€3,141
down €3,141 (-23.6%), from €13,313 to €10,172
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 | €314,284 | €393,987 | +€79,703 | +25.4% |
| Fixed assets | 21/28 | €136,384 | €129,179 | -€7,205 | -5.3% |
| Tangible fixed assets | 22/27 | €136,384 | €129,179 | -€7,205 | -5.3% |
| Land and buildings | 22 | €128,311 | €125,042 | -€3,270 | -2.5% |
| Plant, machinery and equipment | 23 | €949 | - | -€949 | |
| Furniture and vehicles | 24 | €7,124 | €4,138 | -€2,987 | -41.9% |
| Current assets | 29/58 | €177,900 | €264,808 | +€86,908 | +48.9% |
| Amounts receivable within one year | 40/41 | €12,032 | €22,337 | +€10,305 | +85.6% |
| Trade receivables | 40 | €11,991 | €22,337 | +€10,346 | +86.3% |
| Other amounts receivable | 41 | €41 | - | -€41 | |
| Current investments | 50/53 | €0 | - | -€0 | |
| Cash at bank and in hand | 54/58 | €165,868 | €242,471 | +€76,603 | +46.2% |
| Total equity and liabilities | 10/49 | €314,284 | €393,987 | +€79,703 | +25.4% |
| Equity | 10/15 | €224,071 | €288,713 | +€64,642 | +28.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €205,471 | €204,124 | -€1,347 | -0.7% |
| Tax-exempt reserves | 132 | €28,867 | €27,520 | -€1,347 | -4.7% |
| Distributable reserves | 133 | €176,604 | €176,604 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €65,989 | +€65,989 | |
| Provisions and deferred taxes | 16 | €9,623 | €9,173 | -€449 | -4.7% |
| Deferred taxes | 168 | €9,623 | €9,173 | -€449 | -4.7% |
| Amounts payable | 17/49 | €80,590 | €96,101 | +€15,510 | +19.2% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €79,607 | €94,985 | +€15,378 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €5,540 | - | -€5,540 | |
| Trade debts | 44 | €16,356 | €6,411 | -€9,945 | -60.8% |
| Suppliers | 440/4 | €16,356 | €6,411 | -€9,945 | -60.8% |
| Advances received on contracts in progress | 46 | €12,132 | €20,957 | +€8,825 | +72.7% |
| Taxes, remuneration and social security | 45 | €33,543 | €50,228 | +€16,685 | +49.7% |
| Taxes | 450/3 | €33,543 | €50,228 | +€16,685 | +49.7% |
| Other amounts payable | 47/48 | €12,036 | €17,388 | +€5,352 | +44.5% |
| Accrued charges and deferred income | 492/3 | €984 | €1,116 | +€133 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,313 | €10,172 | -€3,141 | -23.6% |
| Other operating charges | 640/8 | €1,702 | €1,691 | -€10 | -0.6% |
| Gross operating margin | 9900 | €82,644 | €99,633 | +€16,989 | +20.6% |
| Operating profit (loss) | 9901 | €67,630 | €87,770 | +€20,140 | +29.8% |
| Financial income | 75/76B | €4 | €354 | +€349 | +7,777% |
| Recurring financial income | 75 | €4 | €354 | +€349 | +7,777% |
| Financial charges | 65/66B | €1,301 | €547 | -€754 | -58.0% |
| Recurring financial charges | 65 | €1,301 | €547 | -€754 | -58.0% |
| Profit (loss) for the period before taxes | 9903 | €66,333 | €87,577 | +€21,243 | +32.0% |
| Transfer from deferred taxes | 780 | €449 | €449 | = | 0.0% |
| Income taxes | 67/77 | €22,645 | €23,384 | +€739 | +3.3% |
| Profit (loss) for the period | 9904 | €44,138 | €64,642 | +€20,504 | +46.5% |
| Transfer from tax-exempt reserves | 789 | €1,347 | €1,347 | +€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €45,485 | €65,989 | +€20,504 | +45.1% |
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 24 October 2026 via checked.be.