Set4Life: 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.
Set4Life
Largest movements
- Receivables within one year +€435,065
up €435,065 (+462.2%), from €94,128 to €529,193
of which Trade receivables: +€469,914
- Stocks and contracts +€103,163
up €103,163 (+96.9%), from €106,488 to €209,651
- Intangible fixed assets +€45,108
up €45,108 (+65.2%), from €69,215 to €114,323
- Cash +€23,364
up €23,364 (+55.3%), from €42,223 to €65,587
mainly Debts after one year (+€312,000) and Accrued charges and deferred income (+€271,073)
- Tangible fixed assets +€16,653
up €16,653 (+94.8%), from €17,571 to €34,224
of which Plant, machinery and equipment: +€8,587
- Debts after one year +€312,000
new in 2025: €312,000
- Accrued charges and deferred income +€271,073
up €271,073 (+863.6%), from €31,388 to €302,462
- Trade debts +€174,334
up €174,334 (+153.9%), from €113,313 to €287,647
- Current portion of long-term debt -€145,000
no longer reported in 2025 (was €145,000)
- Short-term financial debts +€100,000
up €100,000 (+100.0%), from €100,000 to €200,000
of which Other loans: +€200,000
- Gross operating margin +€155,682
up €155,682 (+74.8%), from -€208,065 to -€52,383
- Other operating charges -€15,113
down €15,113 (-98.7%), from €15,314 to €200
- Financial charges +€14,771
up €14,771 (+230.3%), from €6,415 to €21,185
- Depreciation +€10,742
up €10,742 (+440.7%), from €2,437 to €13,179
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 | €330,342 | €968,141 | +€637,799 | +193.1% |
| Fixed assets | 21/28 | €86,786 | €161,091 | +€74,305 | +85.6% |
| Intangible fixed assets | 21 | €69,215 | €114,323 | +€45,108 | +65.2% |
| Tangible fixed assets | 22/27 | €17,571 | €34,224 | +€16,653 | +94.8% |
| Plant, machinery and equipment | 23 | - | €8,587 | +€8,587 | |
| Furniture and vehicles | 24 | €17,571 | €25,638 | +€8,067 | +45.9% |
| Financial fixed assets | 28 | - | €12,544 | +€12,544 | |
| Current assets | 29/58 | €243,556 | €807,050 | +€563,494 | +231.4% |
| Stocks and contracts in progress | 3 | €106,488 | €209,651 | +€103,163 | +96.9% |
| Stocks | 30/36 | €106,488 | €209,651 | +€103,163 | +96.9% |
| Amounts receivable within one year | 40/41 | €94,128 | €529,193 | +€435,065 | +462.2% |
| Trade receivables | 40 | €42,139 | €512,053 | +€469,914 | +1115.1% |
| Other amounts receivable | 41 | €51,989 | €17,140 | -€34,849 | -67.0% |
| Cash at bank and in hand | 54/58 | €42,223 | €65,587 | +€23,364 | +55.3% |
| Deferred charges and accrued income | 490/1 | €717 | €2,619 | +€1,901 | +265.0% |
| Total equity and liabilities | 10/49 | €330,342 | €968,141 | +€637,799 | +193.1% |
| Equity | 10/15 | -€201,054 | -€286,864 | -€85,810 | -42.7% |
| Contributions | 10/11 | €30,596 | €30,596 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€231,650 | -€317,460 | -€85,810 | -37.0% |
| Amounts payable | 17/49 | €531,396 | €1,255,005 | +€723,609 | +136.2% |
| Amounts payable after more than one year | 17 | - | €312,000 | +€312,000 | |
| Financial debts | 170/4 | - | €312,000 | +€312,000 | |
| Amounts payable within one year | 42/48 | €500,008 | €640,544 | +€140,536 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | €145,000 | - | -€145,000 | |
| Financial debts | 43 | €100,000 | €200,000 | +€100,000 | +100.0% |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Other loans | 439 | - | €200,000 | +€200,000 | |
| Trade debts | 44 | €113,313 | €287,647 | +€174,334 | +153.9% |
| Suppliers | 440/4 | €113,313 | €287,647 | +€174,334 | +153.9% |
| Taxes, remuneration and social security | 45 | €11,885 | €50,633 | +€38,748 | +326.0% |
| Taxes | 450/3 | €11,885 | €50,633 | +€38,748 | +326.0% |
| Other amounts payable | 47/48 | €129,810 | €102,263 | -€27,546 | -21.2% |
| Accrued charges and deferred income | 492/3 | €31,388 | €302,462 | +€271,073 | +863.6% |
| Remuneration, social security and pensions | 62 | - | €9 | +€9 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,437 | €13,179 | +€10,742 | +440.7% |
| Other operating charges | 640/8 | €15,314 | €200 | -€15,113 | -98.7% |
| Gross operating margin | 9900 | -€208,065 | -€52,383 | +€155,682 | +74.8% |
| Operating profit (loss) | 9901 | -€225,816 | -€65,771 | +€160,045 | +70.9% |
| Financial income | 75/76B | €580 | €1,146 | +€566 | +97.5% |
| Recurring financial income | 75 | €580 | €1,146 | +€566 | +97.5% |
| Financial charges | 65/66B | €6,415 | €21,185 | +€14,771 | +230.3% |
| Recurring financial charges | 65 | €6,415 | €21,185 | +€14,771 | +230.3% |
| Profit (loss) for the period before taxes | 9903 | -€231,650 | -€85,810 | +€145,840 | +63.0% |
| Profit (loss) for the period | 9904 | -€231,650 | -€85,810 | +€145,840 | +63.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€231,650 | -€85,810 | +€145,840 | +63.0% |
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.