Power4se: what changed
Two fiscal 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.
Power4se
Largest movements
- Receivables within one year +€306,656
up €306,656 (+104.7%), from €292,927 to €599,583
of which Trade receivables: +€157,216
- Cash -€110,316
down €110,316 (-71.2%), from €154,895 to €44,579
mainly Receivables within one year (-€306,656) and Debts after one year (-€220,137)
- Reserves +€460,168
up €460,168 (+45.1%), from €1.0m to €1.5m
of which Distributable reserves: +€333,868
- Debts after one year -€220,137
down €220,137 (-37.7%), from €583,389 to €363,252
of which Other amounts payable: -€117,459
- Tax, wage and social debts -€72,398
down €72,398 (-34.5%), from €210,040 to €137,642
- Gross operating margin -€315,921
down €315,921 (-33.2%), from €950,897 to €634,977
- Taxes -€82,583
down €82,583 (-35.3%), from €234,176 to €151,593
- Financial charges +€14,411
up €14,411 (+182.7%), from €7,886 to €22,297
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.
Cash bridge derived
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 | €2,193,433 | €2,397,498 | +€204,065 | +9.3% |
| Fixed assets | 21/28 | €1,745,611 | €1,753,336 | +€7,725 | +0.4% |
| Tangible fixed assets | 22/27 | €112,277 | €116,052 | +€3,775 | +3.4% |
| Land and buildings | 22 | €112,277 | €116,052 | +€3,775 | +3.4% |
| Financial fixed assets | 28 | €1,633,333 | €1,637,283 | +€3,950 | +0.2% |
| Current assets | 29/58 | €447,822 | €644,162 | +€196,340 | +43.8% |
| Amounts receivable within one year | 40/41 | €292,927 | €599,583 | +€306,656 | +104.7% |
| Trade receivables | 40 | €29,414 | €186,630 | +€157,216 | +534.5% |
| Other amounts receivable | 41 | €263,514 | €412,953 | +€149,439 | +56.7% |
| Cash at bank and in hand | 54/58 | €154,895 | €44,579 | -€110,316 | -71.2% |
| Total equity and liabilities | 10/49 | €2,193,433 | €2,397,498 | +€204,065 | +9.3% |
| Equity | 10/15 | €1,296,732 | €1,756,899 | +€460,168 | +35.5% |
| Contributions | 10/11 | €276,769 | €276,769 | = | 0.0% |
| Reserves | 13 | €1,019,963 | €1,480,130 | +€460,168 | +45.1% |
| Non-distributable reserves | 130/1 | €670 | €670 | = | 0.0% |
| Reserves not available under the articles | 1311 | €670 | €670 | = | 0.0% |
| Tax-exempt reserves | 132 | €172,908 | €299,208 | +€126,300 | +73.0% |
| Distributable reserves | 133 | €846,385 | €1,180,252 | +€333,868 | +39.4% |
| Amounts payable | 17/49 | €896,702 | €640,599 | -€256,103 | -28.6% |
| Amounts payable after more than one year | 17 | €583,389 | €363,252 | -€220,137 | -37.7% |
| Financial debts | 170/4 | €102,678 | €0 | -€102,678 | -100.0% |
| Other amounts payable | 178/9 | €480,712 | €363,252 | -€117,459 | -24.4% |
| Amounts payable within one year | 42/48 | €311,812 | €256,964 | -€54,848 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €101,772 | €102,678 | +€906 | +0.9% |
| Trade debts | 44 | - | €16,644 | +€16,644 | |
| Suppliers | 440/4 | - | €16,644 | +€16,644 | |
| Taxes, remuneration and social security | 45 | €210,040 | €137,642 | -€72,398 | -34.5% |
| Taxes | 450/3 | €210,040 | €137,642 | -€72,398 | -34.5% |
| Accrued charges and deferred income | 492/3 | €1,500 | €20,383 | +€18,883 | +1258.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,139 | €6,864 | -€3,276 | -32.3% |
| Other operating charges | 640/8 | €13,413 | €9,383 | -€4,030 | -30.0% |
| Gross operating margin | 9900 | €950,897 | €634,977 | -€315,921 | -33.2% |
| Operating profit (loss) | 9901 | €927,345 | €618,729 | -€308,615 | -33.3% |
| Financial income | 75/76B | €13,242 | €15,329 | +€2,087 | +15.8% |
| Recurring financial income | 75 | €13,242 | €15,329 | +€2,087 | +15.8% |
| Financial charges | 65/66B | €7,886 | €22,297 | +€14,411 | +182.7% |
| Recurring financial charges | 65 | €7,886 | €22,297 | +€14,411 | +182.7% |
| Profit (loss) for the period before taxes | 9903 | €932,700 | €611,761 | -€320,939 | -34.4% |
| Income taxes | 67/77 | €234,176 | €151,593 | -€82,583 | -35.3% |
| Profit (loss) for the period | 9904 | €698,524 | €460,168 | -€238,356 | -34.1% |
| Transfer to tax-exempt reserves | 689 | €126,300 | €126,300 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €572,224 | €333,868 | -€238,356 | -41.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.