T4U2: 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.
T4U2
Largest movements
- Cash -€27,583
down €27,583 (-42.3%), from €65,190 to €37,608
mainly Other debts (-€24,114) and Net result for the year (-€16,124)
- Tangible fixed assets -€11,601
down €11,601 (-2.2%), from €527,796 to €516,196
of which Land and buildings: -€6,021
- Receivables within one year -€7,159
down €7,159 (-68.4%), from €10,466 to €3,307
of which Other amounts receivable: -€7,159
- Other debts -€24,114
down €24,114 (-81.4%), from €29,622 to €5,508
- Reserves -€16,124
down €16,124 (-3.0%), from €546,045 to €529,920
- Financial income -€113,183
down €113,183 (-99.3%), from €114,018 to €835
- Depreciation -€41,812
down €41,812 (-75.2%), from €55,631 to €13,818
- Gross operating margin +€17,061
up €17,061 (+98.9%), from -€17,249 to -€188
- Taxes -€1,777
down €1,777 (-93.9%), from €1,893 to €116
- Financial charges -€639
down €639 (-76.9%), from €830 to €192
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 | €603,593 | €557,110 | -€46,483 | -7.7% |
| Fixed assets | 21/28 | €527,796 | €516,196 | -€11,601 | -2.2% |
| Tangible fixed assets | 22/27 | €527,796 | €516,196 | -€11,601 | -2.2% |
| Land and buildings | 22 | €510,905 | €504,884 | -€6,021 | -1.2% |
| Plant, machinery and equipment | 23 | €126 | €0 | -€126 | -100.0% |
| Furniture and vehicles | 24 | €16,766 | €11,312 | -€5,454 | -32.5% |
| Current assets | 29/58 | €75,797 | €40,915 | -€34,882 | -46.0% |
| Amounts receivable within one year | 40/41 | €10,466 | €3,307 | -€7,159 | -68.4% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €10,466 | €3,307 | -€7,159 | -68.4% |
| Cash at bank and in hand | 54/58 | €65,190 | €37,608 | -€27,583 | -42.3% |
| Deferred charges and accrued income | 490/1 | €140 | €0 | -€140 | -100.0% |
| Total equity and liabilities | 10/49 | €603,593 | €557,110 | -€46,483 | -7.7% |
| Equity | 10/15 | €564,595 | €548,470 | -€16,124 | -2.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €546,045 | €529,920 | -€16,124 | -3.0% |
| Distributable reserves | 133 | €546,045 | €529,920 | -€16,124 | -3.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,999 | €8,640 | -€30,359 | -77.8% |
| Amounts payable after more than one year | 17 | €1,667 | €0 | -€1,667 | -100.0% |
| Financial debts | 170/4 | €1,667 | €0 | -€1,667 | -100.0% |
| Amounts payable within one year | 42/48 | €37,332 | €8,640 | -€28,692 | -76.9% |
| Current portion of amounts payable after more than one year | 42 | €4,969 | €1,667 | -€3,302 | -66.5% |
| Trade debts | 44 | €892 | €1,349 | +€457 | +51.3% |
| Suppliers | 440/4 | €892 | €1,349 | +€457 | +51.3% |
| Taxes, remuneration and social security | 45 | €1,849 | €116 | -€1,732 | -93.7% |
| Taxes | 450/3 | €1,849 | €116 | -€1,732 | -93.7% |
| Other amounts payable | 47/48 | €29,622 | €5,508 | -€24,114 | -81.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,631 | €13,818 | -€41,812 | -75.2% |
| Other operating charges | 640/8 | €599 | €617 | +€18 | +3.0% |
| Non-recurring operating charges | 66A | - | €2,027 | +€2,027 | |
| Gross operating margin | 9900 | -€17,249 | -€188 | +€17,061 | +98.9% |
| Operating profit (loss) | 9901 | -€73,479 | -€16,651 | +€56,827 | +77.3% |
| Financial income | 75/76B | €114,018 | €835 | -€113,183 | -99.3% |
| Recurring financial income | 75 | €114,018 | €835 | -€113,183 | -99.3% |
| Financial charges | 65/66B | €830 | €192 | -€639 | -76.9% |
| Recurring financial charges | 65 | €830 | €192 | -€639 | -76.9% |
| Profit (loss) for the period before taxes | 9903 | €39,709 | -€16,008 | -€55,717 | |
| Income taxes | 67/77 | €1,893 | €116 | -€1,777 | -93.9% |
| Profit (loss) for the period | 9904 | €37,815 | -€16,124 | -€53,940 | |
| Profit (loss) for the period to be appropriated | 9905 | €37,815 | -€16,124 | -€53,940 |
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 3 October 2026 via checked.be.