Q4I: 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.
Q4I
Largest movements
- Cash -€10,846
down €10,846 (-52.2%), from €20,769 to €9,923
mainly Debts after one year (-€62,500) and Tax, wage and social debts (-€8,018)
- Receivables within one year +€7,727
up €7,727 (+81.5%), from €9,476 to €17,203
of which Trade receivables: +€8,282
- Tangible fixed assets -€2,627
down €2,627 (-3.5%), from €74,589 to €71,961
of which Land and buildings: -€2,218
- Debts after one year -€62,500
no longer reported in 2025 (was €62,500)
- Current portion of long-term debt +€62,500
new in 2025: €62,500
- Tax, wage and social debts -€8,018
down €8,018 (-50.8%), from €15,773 to €7,755
of which Taxes: -€5,349
- Trade debts +€1,277
up €1,277 (+921%), from €139 to €1,416
- Gross operating margin -€10,980
down €10,980 (-47.2%), from €23,266 to €12,287
- Financial charges +€3,536
up €3,536 (+302%), from €1,169 to €4,705
- Taxes -€2,885
down €2,885 (-66.6%), from €4,330 to €1,445
- Other operating charges +€2,424
up €2,424 (+819%), from €296 to €2,720
- Depreciation +€2,062
up €2,062 (+365%), from €565 to €2,627
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 | €105,303 | €99,537 | -€5,766 | -5.5% |
| Fixed assets | 21/28 | €74,589 | €71,961 | -€2,627 | -3.5% |
| Tangible fixed assets | 22/27 | €74,589 | €71,961 | -€2,627 | -3.5% |
| Land and buildings | 22 | €73,724 | €71,507 | -€2,218 | -3.0% |
| Furniture and vehicles | 24 | €864 | €455 | -€410 | -47.4% |
| Current assets | 29/58 | €30,714 | €27,576 | -€3,138 | -10.2% |
| Amounts receivable within one year | 40/41 | €9,476 | €17,203 | +€7,727 | +81.5% |
| Trade receivables | 40 | €8,921 | €17,203 | +€8,282 | +92.8% |
| Other amounts receivable | 41 | €555 | - | -€555 | |
| Cash at bank and in hand | 54/58 | €20,769 | €9,923 | -€10,846 | -52.2% |
| Deferred charges and accrued income | 490/1 | €469 | €450 | -€19 | -4.1% |
| Total equity and liabilities | 10/49 | €105,303 | €99,537 | -€5,766 | -5.5% |
| Equity | 10/15 | €18,830 | €19,619 | +€790 | +4.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,830 | €16,619 | +€790 | +5.0% |
| Amounts payable | 17/49 | €86,473 | €79,918 | -€6,555 | -7.6% |
| Amounts payable after more than one year | 17 | €62,500 | - | -€62,500 | |
| Financial debts | 170/4 | €62,500 | - | -€62,500 | |
| Amounts payable within one year | 42/48 | €23,973 | €79,918 | +€55,945 | +233% |
| Current portion of amounts payable after more than one year | 42 | - | €62,500 | +€62,500 | |
| Trade debts | 44 | €139 | €1,416 | +€1,277 | +921% |
| Suppliers | 440/4 | €139 | €1,416 | +€1,277 | +921% |
| Taxes, remuneration and social security | 45 | €15,773 | €7,755 | -€8,018 | -50.8% |
| Taxes | 450/3 | €13,104 | €7,755 | -€5,349 | -40.8% |
| Remuneration and social security | 454/9 | €2,669 | - | -€2,669 | |
| Other amounts payable | 47/48 | €8,061 | €8,247 | +€186 | +2.3% |
| Remuneration, social security and pensions | 62 | €1,076 | - | -€1,076 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €565 | €2,627 | +€2,062 | +365% |
| Other operating charges | 640/8 | €296 | €2,720 | +€2,424 | +819% |
| Gross operating margin | 9900 | €23,266 | €12,287 | -€10,980 | -47.2% |
| Operating profit (loss) | 9901 | €21,329 | €6,939 | -€14,389 | -67.5% |
| Financial charges | 65/66B | €1,169 | €4,705 | +€3,536 | +302% |
| Recurring financial charges | 65 | €1,169 | €4,705 | +€3,536 | +302% |
| Profit (loss) for the period before taxes | 9903 | €20,160 | €2,234 | -€17,925 | -88.9% |
| Income taxes | 67/77 | €4,330 | €1,445 | -€2,885 | -66.6% |
| Profit (loss) for the period | 9904 | €15,830 | €790 | -€15,040 | -95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,830 | €790 | -€15,040 | -95.0% |
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.