S4D: 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.
S4D
Largest movements
- Receivables within one year +€20,596
up €20,596 (+89.6%), from €22,987 to €43,583
of which Trade receivables: +€20,841
- Cash -€8,844
down €8,844 (-83.7%), from €10,563 to €1,719
mainly Receivables within one year (-€20,596) and Debts after one year (-€12,913)
- Trade debts +€16,719
up €16,719 (+165.1%), from €10,128 to €26,847
- Debts after one year -€12,913
down €12,913 (-79.7%), from €16,194 to €3,282
- Reserves +€2,627
new in 2024: €2,627
- Profit (loss) carried forward +€1,925
no longer reported in 2024 (was -€1,925)
- Tax, wage and social debts +€1,646
up €1,646 (+7.8%), from €21,049 to €22,695
of which Remuneration and social security: +€4,973
- Gross operating margin +€21,825
up €21,825, from -€3,771 to €18,054
- Financial charges +€4,349
up €4,349 (+1237.2%), from €352 to €4,701
- Taxes +€2,940
up €2,940 (+66.9%), from €4,393 to €7,334
- Other operating charges -€619
down €619 (-34.9%), from €1,774 to €1,155
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €88,024 | €98,863 | +€10,840 | +12.3% |
| Fixed assets | 21/28 | €3,874 | €3,562 | -€312 | -8.1% |
| Tangible fixed assets | 22/27 | €537 | €225 | -€312 | -58.2% |
| Furniture and vehicles | 24 | €537 | €225 | -€312 | -58.2% |
| Financial fixed assets | 28 | €3,337 | €3,337 | = | 0.0% |
| Current assets | 29/58 | €84,149 | €95,301 | +€11,152 | +13.3% |
| Stocks and contracts in progress | 3 | €50,000 | €50,000 | = | 0.0% |
| Stocks | 30/36 | €50,000 | €50,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €22,987 | €43,583 | +€20,596 | +89.6% |
| Trade receivables | 40 | €22,742 | €43,583 | +€20,841 | +91.6% |
| Other amounts receivable | 41 | €245 | - | -€245 | |
| Cash at bank and in hand | 54/58 | €10,563 | €1,719 | -€8,844 | -83.7% |
| Deferred charges and accrued income | 490/1 | €600 | - | -€600 | |
| Total equity and liabilities | 10/49 | €88,024 | €98,863 | +€10,840 | +12.3% |
| Equity | 10/15 | €28,075 | €32,627 | +€4,552 | +16.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | - | €2,627 | +€2,627 | |
| Distributable reserves | 133 | - | €2,627 | +€2,627 | |
| Profit (loss) carried forward | 14 | -€1,925 | - | +€1,925 | |
| Amounts payable | 17/49 | €59,949 | €66,237 | +€6,288 | +10.5% |
| Amounts payable after more than one year | 17 | €16,194 | €3,282 | -€12,913 | -79.7% |
| Financial debts | 170/4 | €16,194 | €3,282 | -€12,913 | -79.7% |
| Amounts payable within one year | 42/48 | €43,755 | €62,955 | +€19,201 | +43.9% |
| Current portion of amounts payable after more than one year | 42 | €12,577 | €12,913 | +€336 | +2.7% |
| Trade debts | 44 | €10,128 | €26,847 | +€16,719 | +165.1% |
| Suppliers | 440/4 | €10,128 | €26,847 | +€16,719 | +165.1% |
| Taxes, remuneration and social security | 45 | €21,049 | €22,695 | +€1,646 | +7.8% |
| Taxes | 450/3 | €21,049 | €17,722 | -€3,328 | -15.8% |
| Remuneration and social security | 454/9 | - | €4,973 | +€4,973 | |
| Other amounts payable | 47/48 | - | €501 | +€501 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313 | €312 | -€0 | 0.0% |
| Other operating charges | 640/8 | €1,774 | €1,155 | -€619 | -34.9% |
| Gross operating margin | 9900 | -€3,771 | €18,054 | +€21,825 | |
| Operating profit (loss) | 9901 | -€5,858 | €16,586 | +€22,444 | |
| Financial charges | 65/66B | €352 | €4,701 | +€4,349 | +1237.2% |
| Recurring financial charges | 65 | €352 | €4,701 | +€4,349 | +1237.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,209 | €11,885 | +€18,095 | |
| Income taxes | 67/77 | €4,393 | €7,334 | +€2,940 | +66.9% |
| Profit (loss) for the period | 9904 | -€10,603 | €4,552 | +€15,154 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,603 | €4,552 | +€15,154 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.