R4P: what changed
R4P
Largest movements
- Stocks and contracts +€29,676
new in 2025: €29,676
- Tangible fixed assets +€13,617
new in 2025: €13,617
- Cash +€10,754
up €10,754 (+239%), from €4,508 to €15,262
- Intangible fixed assets +€5,367
new in 2025: €5,367
- Financial fixed assets +€2,631
new in 2025: €2,631
- Other debts +€79,166
up €79,166 (+318%), from €24,919 to €104,085
- Profit (loss) carried forward -€71,501
down €71,501 (-163%), from -€43,917 to -€115,418
- Trade debts +€46,628
up €46,628 (+398%), from €11,719 to €58,347
- Tax, wage and social debts +€9,923
up €9,923 (+1,581%), from €628 to €10,551
of which Taxes: +€8,851
- Accrued charges and deferred income -€1,436
down €1,436 (-30.8%), from €4,656 to €3,220
- Taxes +€11,810
up €11,810, from -€11,810 to €0
- Gross operating margin +€8,204
up €8,204 (+72.5%), from -€11,310 to -€3,106
- Depreciation +€5,310
new in 2025: €5,310
- Financial charges +€5,031
up €5,031 (+388%), from €1,298 to €6,329
- Staff costs +€2,843
new in 2025: €2,843
Change in the result, 2023 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,405 | €73,185 | +€62,780 | +603% |
| Fixed assets | 21/28 | - | €21,614 | +€21,614 | |
| Intangible fixed assets | 21 | - | €5,367 | +€5,367 | |
| Tangible fixed assets | 22/27 | - | €13,617 | +€13,617 | |
| Plant, machinery and equipment | 23 | - | €6,399 | +€6,399 | |
| Furniture and vehicles | 24 | - | €3,385 | +€3,385 | |
| Other tangible fixed assets | 26 | - | €3,833 | +€3,833 | |
| Financial fixed assets | 28 | - | €2,631 | +€2,631 | |
| Current assets | 29/58 | €10,405 | €51,571 | +€41,166 | +396% |
| Stocks and contracts in progress | 3 | - | €29,676 | +€29,676 | |
| Stocks | 30/36 | - | €29,676 | +€29,676 | |
| Amounts receivable within one year | 40/41 | €5,896 | €5,392 | -€504 | -8.6% |
| Trade receivables | 40 | €5,239 | €3,456 | -€1,784 | -34.0% |
| Other amounts receivable | 41 | €657 | €1,936 | +€1,279 | +195% |
| Cash at bank and in hand | 54/58 | €4,508 | €15,262 | +€10,754 | +239% |
| Deferred charges and accrued income | 490/1 | - | €1,240 | +€1,240 | |
| Total equity and liabilities | 10/49 | €10,405 | €73,185 | +€62,780 | +603% |
| Equity | 10/15 | -€31,517 | -€103,018 | -€71,501 | -227% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | - | -€12,400 | |
| Share premium | 1100/10 | €12,400 | - | -€12,400 | |
| Profit (loss) carried forward | 14 | -€43,917 | -€115,418 | -€71,501 | -163% |
| Amounts payable | 17/49 | €41,922 | €176,203 | +€134,282 | +320% |
| Amounts payable within one year | 42/48 | €37,266 | €172,983 | +€135,718 | +364% |
| Trade debts | 44 | €11,719 | €58,347 | +€46,628 | +398% |
| Suppliers | 440/4 | €11,719 | €58,347 | +€46,628 | +398% |
| Taxes, remuneration and social security | 45 | €628 | €10,551 | +€9,923 | +1,581% |
| Taxes | 450/3 | €628 | €9,479 | +€8,851 | +1,410% |
| Remuneration and social security | 454/9 | - | €1,072 | +€1,072 | |
| Other amounts payable | 47/48 | €24,919 | €104,085 | +€79,166 | +318% |
| Accrued charges and deferred income | 492/3 | €4,656 | €3,220 | -€1,436 | -30.8% |
| Remuneration, social security and pensions | 62 | - | €2,843 | +€2,843 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €5,310 | +€5,310 | |
| Other operating charges | 640/8 | €1,165 | €1,294 | +€129 | +11.1% |
| Non-recurring operating charges | 66A | - | €173 | +€173 | |
| Gross operating margin | 9900 | -€11,310 | -€3,106 | +€8,204 | +72.5% |
| Operating profit (loss) | 9901 | -€12,475 | -€12,726 | -€252 | -2.0% |
| Financial income | 75/76B | - | €127 | +€127 | |
| Recurring financial income | 75 | - | €127 | +€127 | |
| Financial charges | 65/66B | €1,298 | €6,329 | +€5,031 | +388% |
| Recurring financial charges | 65 | €1,298 | €6,329 | +€5,031 | +388% |
| Profit (loss) for the period before taxes | 9903 | -€13,773 | -€18,929 | -€5,156 | -37.4% |
| Income taxes | 67/77 | -€11,810 | €0 | +€11,810 | |
| Profit (loss) for the period | 9904 | -€1,963 | -€18,929 | -€16,966 | -864% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,963 | -€18,929 | -€16,966 | -864% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.