THE FOUR SHEEP: 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.
THE FOUR SHEEP
Largest movements
- Cash -€3,610
down €3,610 (-11.9%), from €30,425 to €26,815
mainly Other debts (-€8,000) and Trade debts (-€1,905)
- Receivables after one year -€3,019
down €3,019 (-25.7%), from €11,758 to €8,738
- Tangible fixed assets -€1,870
down €1,870 (-20.9%), from €8,941 to €7,071
of which Furniture and vehicles: -€1,663
- Receivables within one year +€1,302
up €1,302 (+11.3%), from €11,495 to €12,797
of which Other amounts receivable: +€890
- Other debts -€8,000
no longer reported in 2025 (was €8,000)
- Tax, wage and social debts +€2,146
up €2,146 (+22.1%), from €9,727 to €11,873
- Trade debts -€1,905
down €1,905 (-43.3%), from €4,404 to €2,499
- Financial income -€17,169
down €17,169 (-98.4%), from €17,451 to €282
of which Non-recurring financial income: -€17,326
- Taxes -€3,881
down €3,881 (-73.5%), from €5,277 to €1,397
- Depreciation +€873
up €873 (+87.6%), from €997 to €1,870
- Provisions -€591
down €591, from €231 to -€359
- Financial charges +€281
up €281 (+8.8%), from €3,207 to €3,488
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 | €70,341 | €63,146 | -€7,195 | -10.2% |
| Fixed assets | 21/28 | €14,941 | €13,071 | -€1,870 | -12.5% |
| Tangible fixed assets | 22/27 | €8,941 | €7,071 | -€1,870 | -20.9% |
| Plant, machinery and equipment | 23 | €676 | €469 | -€207 | -30.6% |
| Furniture and vehicles | 24 | €8,266 | €6,603 | -€1,663 | -20.1% |
| Financial fixed assets | 28 | €6,000 | €6,000 | = | 0.0% |
| Current assets | 29/58 | €55,400 | €50,075 | -€5,325 | -9.6% |
| Amounts receivable after more than one year | 29 | €11,758 | €8,738 | -€3,019 | -25.7% |
| Other amounts receivable | 291 | €11,758 | €8,738 | -€3,019 | -25.7% |
| Amounts receivable within one year | 40/41 | €11,495 | €12,797 | +€1,302 | +11.3% |
| Trade receivables | 40 | €11,495 | €11,906 | +€411 | +3.6% |
| Other amounts receivable | 41 | - | €890 | +€890 | |
| Cash at bank and in hand | 54/58 | €30,425 | €26,815 | -€3,610 | -11.9% |
| Deferred charges and accrued income | 490/1 | €1,722 | €1,724 | +€3 | +0.1% |
| Total equity and liabilities | 10/49 | €70,341 | €63,146 | -€7,195 | -10.2% |
| Equity | 10/15 | €47,801 | €48,153 | +€352 | +0.7% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €3,800 | €3,800 | = | 0.0% |
| Distributable reserves | 133 | €3,800 | €3,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,001 | €29,353 | +€352 | +1.2% |
| Provisions and deferred taxes | 16 | €409 | €49 | -€359 | -88.0% |
| Provisions for liabilities and charges | 160/5 | €409 | €49 | -€359 | -88.0% |
| Other liabilities and charges | 164/5 | €409 | €49 | -€359 | -88.0% |
| Amounts payable | 17/49 | €22,131 | €14,944 | -€7,187 | -32.5% |
| Amounts payable within one year | 42/48 | €22,131 | €14,372 | -€7,759 | -35.1% |
| Trade debts | 44 | €4,404 | €2,499 | -€1,905 | -43.3% |
| Suppliers | 440/4 | €4,404 | €2,499 | -€1,905 | -43.3% |
| Taxes, remuneration and social security | 45 | €9,727 | €11,873 | +€2,146 | +22.1% |
| Taxes | 450/3 | €9,727 | €11,873 | +€2,146 | +22.1% |
| Other amounts payable | 47/48 | €8,000 | - | -€8,000 | |
| Accrued charges and deferred income | 492/3 | - | €572 | +€572 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €997 | €1,870 | +€873 | +87.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €231 | -€359 | -€591 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €6,587 | €6,864 | +€277 | +4.2% |
| Operating profit (loss) | 9901 | €4,971 | €4,954 | -€18 | -0.4% |
| Financial income | 75/76B | €17,451 | €282 | -€17,169 | -98.4% |
| Recurring financial income | 75 | €125 | €282 | +€157 | +126% |
| Non-recurring financial income | 76B | €17,326 | - | -€17,326 | |
| Financial charges | 65/66B | €3,207 | €3,488 | +€281 | +8.8% |
| Recurring financial charges | 65 | €3,207 | €3,488 | +€281 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | €19,215 | €1,748 | -€17,467 | -90.9% |
| Income taxes | 67/77 | €5,277 | €1,397 | -€3,881 | -73.5% |
| Profit (loss) for the period | 9904 | €13,938 | €352 | -€13,586 | -97.5% |
| Profit (loss) for the period to be appropriated | 9905 | €13,938 | €352 | -€13,586 | -97.5% |
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.