So4Grow consult: 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.
So4Grow consult
Largest movements
- Receivables within one year -€20,479
down €20,479 (-34.5%), from €59,304 to €38,825
of which Trade receivables: -€14,180
- Cash +€12,847
up €12,847 (+611%), from €2,103 to €14,950
mainly Net result for the year (+€48,152) and Receivables within one year (+€20,479)
- Current investments -€12,000
down €12,000 (-37.5%), from €32,000 to €20,000
- Tangible fixed assets -€3,377
down €3,377 (-6.9%), from €49,100 to €45,723
of which Land and buildings: -€4,094
- Deferred charges and accrued income -€2,617
down €2,617 (-38.1%), from €6,870 to €4,253
- Current portion of long-term debt -€10,856
down €10,856 (-65.2%), from €16,639 to €5,783
- Debts after one year -€10,302
no longer reported in 2025 (was €10,302)
- Depreciation -€6,891
down €6,891 (-52.3%), from €13,175 to €6,284
- Gross operating margin +€2,267
up €2,267 (+3.2%), from €71,892 to €74,159
- Taxes +€1,834
up €1,834 (+12.4%), from €14,807 to €16,641
- Financial charges +€1,344
up €1,344 (+72.1%), from €1,864 to €3,208
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 | €249,377 | €223,750 | -€25,626 | -10.3% |
| Fixed assets | 21/28 | €49,100 | €45,723 | -€3,377 | -6.9% |
| Tangible fixed assets | 22/27 | €49,100 | €45,723 | -€3,377 | -6.9% |
| Land and buildings | 22 | €28,648 | €24,554 | -€4,094 | -14.3% |
| Plant, machinery and equipment | 23 | €806 | €567 | -€239 | -29.7% |
| Furniture and vehicles | 24 | €19,646 | €20,602 | +€956 | +4.9% |
| Current assets | 29/58 | €200,277 | €178,028 | -€22,249 | -11.1% |
| Amounts receivable after more than one year | 29 | €100,000 | €100,000 | = | 0.0% |
| Other amounts receivable | 291 | €100,000 | €100,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €59,304 | €38,825 | -€20,479 | -34.5% |
| Trade receivables | 40 | €27,181 | €13,001 | -€14,180 | -52.2% |
| Other amounts receivable | 41 | €32,123 | €25,824 | -€6,299 | -19.6% |
| Current investments | 50/53 | €32,000 | €20,000 | -€12,000 | -37.5% |
| Cash at bank and in hand | 54/58 | €2,103 | €14,950 | +€12,847 | +611% |
| Deferred charges and accrued income | 490/1 | €6,870 | €4,253 | -€2,617 | -38.1% |
| Total equity and liabilities | 10/49 | €249,377 | €223,750 | -€25,626 | -10.3% |
| Equity | 10/15 | €212,368 | €210,520 | -€1,848 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €191,908 | €190,060 | -€1,848 | -1.0% |
| Amounts payable | 17/49 | €37,009 | €13,230 | -€23,779 | -64.3% |
| Amounts payable after more than one year | 17 | €10,302 | - | -€10,302 | |
| Financial debts | 170/4 | €10,302 | - | -€10,302 | |
| Amounts payable within one year | 42/48 | €26,707 | €13,230 | -€13,477 | -50.5% |
| Current portion of amounts payable after more than one year | 42 | €16,639 | €5,783 | -€10,856 | -65.2% |
| Trade debts | 44 | €580 | €297 | -€284 | -48.9% |
| Suppliers | 440/4 | €580 | €297 | -€284 | -48.9% |
| Taxes, remuneration and social security | 45 | €9,488 | €7,150 | -€2,337 | -24.6% |
| Taxes | 450/3 | €9,488 | €7,150 | -€2,337 | -24.6% |
| Non-recurring operating income | 76A | - | €7,254 | +€7,254 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,175 | €6,284 | -€6,891 | -52.3% |
| Other operating charges | 640/8 | €277 | €225 | -€52 | -18.7% |
| Gross operating margin | 9900 | €71,892 | €74,159 | +€2,267 | +3.2% |
| Operating profit (loss) | 9901 | €58,440 | €67,650 | +€9,210 | +15.8% |
| Financial income | 75/76B | €530 | €351 | -€179 | -33.8% |
| Recurring financial income | 75 | €530 | €351 | -€179 | -33.8% |
| Financial charges | 65/66B | €1,864 | €3,208 | +€1,344 | +72.1% |
| Recurring financial charges | 65 | €1,864 | €3,208 | +€1,344 | +72.1% |
| Profit (loss) for the period before taxes | 9903 | €57,106 | €64,793 | +€7,687 | +13.5% |
| Income taxes | 67/77 | €14,807 | €16,641 | +€1,834 | +12.4% |
| Profit (loss) for the period | 9904 | €42,299 | €48,152 | +€5,853 | +13.8% |
| Profit (loss) for the period to be appropriated | 9905 | €42,299 | €48,152 | +€5,853 | +13.8% |
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 21 October 2026 via checked.be.