Plan IV: 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.
Plan IV
Largest movements
- Receivables within one year +€40,448
up €40,448 (+169%), from €23,971 to €64,419
of which Other amounts receivable: +€28,940
- Tangible fixed assets -€19,742
down €19,742 (-11.1%), from €177,417 to €157,675
- Cash -€8,860
down €8,860 (-44.5%), from €19,899 to €11,039
mainly Receivables within one year (-€40,448) and Other debts (-€4,460)
- Reserves +€15,613
up €15,613 (+8.2%), from €191,264 to €206,876
- Other debts -€4,460
down €4,460 (-100%), from €4,460 to €0
- Depreciation -€3,609
down €3,609 (-15.5%), from €23,351 to €19,742
- Gross operating margin -€1,739
down €1,739 (-3.7%), from €47,103 to €45,364
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 | €221,923 | €233,132 | +€11,210 | +5.1% |
| Fixed assets | 21/28 | €177,417 | €157,675 | -€19,742 | -11.1% |
| Tangible fixed assets | 22/27 | €177,417 | €157,675 | -€19,742 | -11.1% |
| Land and buildings | 22 | €177,417 | €157,675 | -€19,742 | -11.1% |
| Current assets | 29/58 | €44,505 | €75,458 | +€30,952 | +69.5% |
| Amounts receivable within one year | 40/41 | €23,971 | €64,419 | +€40,448 | +169% |
| Trade receivables | 40 | €23,727 | €35,235 | +€11,508 | +48.5% |
| Other amounts receivable | 41 | €244 | €29,184 | +€28,940 | +11,864% |
| Cash at bank and in hand | 54/58 | €19,899 | €11,039 | -€8,860 | -44.5% |
| Deferred charges and accrued income | 490/1 | €635 | €0 | -€635 | -100% |
| Total equity and liabilities | 10/49 | €221,923 | €233,132 | +€11,210 | +5.1% |
| Equity | 10/15 | €216,264 | €231,876 | +€15,613 | +7.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €191,264 | €206,876 | +€15,613 | +8.2% |
| Distributable reserves | 133 | €191,264 | €206,876 | +€15,613 | +8.2% |
| Amounts payable | 17/49 | €5,659 | €1,256 | -€4,403 | -77.8% |
| Amounts payable within one year | 42/48 | €5,659 | €1,256 | -€4,403 | -77.8% |
| Trade debts | 44 | €0 | €58 | +€58 | |
| Suppliers | 440/4 | €0 | €58 | +€58 | |
| Taxes, remuneration and social security | 45 | €1,199 | €1,198 | -€1 | -0.1% |
| Taxes | 450/3 | €1,199 | €1,198 | -€1 | -0.1% |
| Other amounts payable | 47/48 | €4,460 | €0 | -€4,460 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,351 | €19,742 | -€3,609 | -15.5% |
| Other operating charges | 640/8 | €4,550 | €4,614 | +€64 | +1.4% |
| Gross operating margin | 9900 | €47,103 | €45,364 | -€1,739 | -3.7% |
| Operating profit (loss) | 9901 | €19,202 | €21,007 | +€1,806 | +9.4% |
| Financial charges | 65/66B | €178 | €190 | +€13 | +7.2% |
| Recurring financial charges | 65 | €178 | €190 | +€13 | +7.2% |
| Profit (loss) for the period before taxes | 9903 | €19,024 | €20,817 | +€1,793 | +9.4% |
| Income taxes | 67/77 | €4,756 | €5,204 | +€448 | +9.4% |
| Profit (loss) for the period | 9904 | €14,268 | €15,613 | +€1,345 | +9.4% |
| Profit (loss) for the period to be appropriated | 9905 | €14,268 | €15,613 | +€1,345 | +9.4% |
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 20 October 2026 via checked.be.