TEAM4: 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.
TEAM4
Largest movements
- Tangible fixed assets +€136,395
up €136,395 (+87.8%), from €155,400 to €291,795
of which Land and buildings: +€146,795
- Financial fixed assets +€34,000
new in 2025: €34,000
- Cash -€17,215
down €17,215 (-66.1%), from €26,026 to €8,812
mainly Investment in fixed assets (net) (-€178,600) and Other debts (-€12,500)
- Receivables within one year -€5,000
down €5,000 (-82.3%), from €6,072 to €1,072
- Debts after one year +€93,854
up €93,854 (+108.5%), from €86,520 to €180,374
of which Financial debts: +€81,986
- Revaluation surpluses +€34,425
up €34,425 (+116.1%), from €29,653 to €64,079
- Profit (loss) carried forward +€34,070
up €34,070 (+94.7%), from €35,980 to €70,049
- Other debts -€12,500
down €12,500 (-68.9%), from €18,133 to €5,633
- Depreciation +€4,248
up €4,248 (+101.2%), from €4,197 to €8,445
- Gross operating margin +€4,105
up €4,105 (+8.8%), from €46,860 to €50,965
- Financial charges +€1,633
up €1,633 (+33.7%), from €4,840 to €6,473
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 | €188,422 | €336,362 | +€147,940 | +78.5% |
| Formation expenses | 20 | €923 | €683 | -€240 | -26.0% |
| Fixed assets | 21/28 | €155,400 | €325,795 | +€170,395 | +109.6% |
| Tangible fixed assets | 22/27 | €155,400 | €291,795 | +€136,395 | +87.8% |
| Land and buildings | 22 | €145,000 | €291,795 | +€146,795 | +101.2% |
| Assets under construction and advance payments | 27 | €10,400 | - | -€10,400 | |
| Financial fixed assets | 28 | - | €34,000 | +€34,000 | |
| Current assets | 29/58 | €32,098 | €9,884 | -€22,215 | -69.2% |
| Amounts receivable within one year | 40/41 | €6,072 | €1,072 | -€5,000 | -82.3% |
| Other amounts receivable | 41 | €6,072 | €1,072 | -€5,000 | -82.3% |
| Cash at bank and in hand | 54/58 | €26,026 | €8,812 | -€17,215 | -66.1% |
| Total equity and liabilities | 10/49 | €188,422 | €336,362 | +€147,940 | +78.5% |
| Equity | 10/15 | €75,633 | €144,128 | +€68,495 | +90.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Revaluation surpluses | 12 | €29,653 | €64,079 | +€34,425 | +116.1% |
| Profit (loss) carried forward | 14 | €35,980 | €70,049 | +€34,070 | +94.7% |
| Amounts payable | 17/49 | €112,789 | €192,234 | +€79,445 | +70.4% |
| Amounts payable after more than one year | 17 | €86,520 | €180,374 | +€93,854 | +108.5% |
| Financial debts | 170/4 | €79,065 | €161,051 | +€81,986 | +103.7% |
| Other amounts payable | 178/9 | €7,455 | €19,323 | +€11,868 | +159.2% |
| Amounts payable within one year | 42/48 | €26,269 | €11,860 | -€14,409 | -54.9% |
| Current portion of amounts payable after more than one year | 42 | €8,136 | €6,227 | -€1,909 | -23.5% |
| Other amounts payable | 47/48 | €18,133 | €5,633 | -€12,500 | -68.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,197 | €8,445 | +€4,248 | +101.2% |
| Other operating charges | 640/8 | €1,844 | €1,977 | +€133 | +7.2% |
| Gross operating margin | 9900 | €46,860 | €50,965 | +€4,105 | +8.8% |
| Operating profit (loss) | 9901 | €40,819 | €40,543 | -€276 | -0.7% |
| Financial charges | 65/66B | €4,840 | €6,473 | +€1,633 | +33.7% |
| Recurring financial charges | 65 | €4,840 | €6,473 | +€1,633 | +33.7% |
| Profit (loss) for the period before taxes | 9903 | €35,980 | €34,070 | -€1,910 | -5.3% |
| Profit (loss) for the period | 9904 | €35,980 | €34,070 | -€1,910 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,980 | €34,070 | -€1,910 | -5.3% |
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 10 October 2026 via checked.be.