Secteur 4: 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.
Secteur 4
Largest movements
- Current investments +€297,464
new in 2025: €297,464
- Cash -€289,292
down €289,292 (-88.4%), from €327,139 to €37,847
mainly Current investments (-€297,464) and Other debts (-€31,809)
- Tangible fixed assets -€34,419
down €34,419 (-44.8%), from €76,781 to €42,362
of which Furniture and vehicles: -€26,070
- Receivables within one year -€27,901
down €27,901 (-96.6%), from €28,897 to €996
of which Trade receivables: -€24,369
- Other debts -€31,809
down €31,809 (-63.4%), from €50,205 to €18,396
- Profit (loss) carried forward -€16,177
down €16,177 (-4.7%), from €345,710 to €329,534
- Current portion of long-term debt -€15,565
down €15,565 (-100.0%), from €15,565 to €0
- Gross operating margin +€33,908
up €33,908, from -€16,040 to €17,868
- Other operating charges -€673
down €673 (-42.5%), from €1,584 to €911
- Depreciation -€418
down €418 (-1.2%), from €34,768 to €34,350
- Financial charges -€324
down €324 (-66.3%), from €489 to €165
- Financial income -€200
down €200 (-12.7%), from €1,581 to €1,381
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 | €440,082 | €381,739 | -€58,342 | -13.3% |
| Fixed assets | 21/28 | €76,781 | €42,362 | -€34,419 | -44.8% |
| Tangible fixed assets | 22/27 | €76,781 | €42,362 | -€34,419 | -44.8% |
| Plant, machinery and equipment | 23 | €27,957 | €19,607 | -€8,350 | -29.9% |
| Furniture and vehicles | 24 | €48,824 | €22,755 | -€26,070 | -53.4% |
| Current assets | 29/58 | €363,301 | €339,377 | -€23,923 | -6.6% |
| Stocks and contracts in progress | 3 | €4,325 | €0 | -€4,325 | -100.0% |
| Stocks | 30/36 | €4,325 | €0 | -€4,325 | -100.0% |
| Amounts receivable within one year | 40/41 | €28,897 | €996 | -€27,901 | -96.6% |
| Trade receivables | 40 | €24,479 | €110 | -€24,369 | -99.6% |
| Other amounts receivable | 41 | €4,418 | €886 | -€3,532 | -79.9% |
| Current investments | 50/53 | - | €297,464 | +€297,464 | |
| Cash at bank and in hand | 54/58 | €327,139 | €37,847 | -€289,292 | -88.4% |
| Deferred charges and accrued income | 490/1 | €2,939 | €3,069 | +€131 | +4.4% |
| Total equity and liabilities | 10/49 | €440,082 | €381,739 | -€58,342 | -13.3% |
| Equity | 10/15 | €366,170 | €349,994 | -€16,177 | -4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €345,710 | €329,534 | -€16,177 | -4.7% |
| Amounts payable | 17/49 | €73,911 | €31,745 | -€42,166 | -57.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €73,911 | €31,745 | -€42,166 | -57.0% |
| Current portion of amounts payable after more than one year | 42 | €15,565 | €0 | -€15,565 | -100.0% |
| Financial debts | 43 | €3,215 | €4,225 | +€1,010 | +31.4% |
| Credit institutions | 430/8 | €3,215 | €0 | -€3,215 | -100.0% |
| Other loans | 439 | - | €4,225 | +€4,225 | |
| Trade debts | 44 | €818 | €1,135 | +€318 | +38.8% |
| Suppliers | 440/4 | €818 | €1,135 | +€318 | +38.8% |
| Taxes, remuneration and social security | 45 | €4,109 | €7,989 | +€3,880 | +94.4% |
| Taxes | 450/3 | €4,109 | €7,989 | +€3,880 | +94.4% |
| Other amounts payable | 47/48 | €50,205 | €18,396 | -€31,809 | -63.4% |
| Non-recurring operating income | 76A | - | €1,930 | +€1,930 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,768 | €34,350 | -€418 | -1.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,584 | €911 | -€673 | -42.5% |
| Gross operating margin | 9900 | -€16,040 | €17,868 | +€33,908 | |
| Operating profit (loss) | 9901 | -€52,391 | -€17,392 | +€34,999 | +66.8% |
| Financial income | 75/76B | €1,581 | €1,381 | -€200 | -12.7% |
| Recurring financial income | 75 | €1,581 | €1,381 | -€200 | -12.7% |
| Financial charges | 65/66B | €489 | €165 | -€324 | -66.3% |
| Recurring financial charges | 65 | €489 | €165 | -€324 | -66.3% |
| Profit (loss) for the period before taxes | 9903 | -€51,300 | -€16,177 | +€35,123 | +68.5% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€51,300 | -€16,177 | +€35,123 | +68.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€51,300 | -€16,177 | +€35,123 | +68.5% |
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 8 October 2026 via checked.be.