V4 CAPITAL: 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.
V4 CAPITAL
Largest movements
- Current investments +€60,000
new in 2025: €60,000
- Cash -€12,859
down €12,859 (-44.1%), from €29,141 to €16,282
mainly Current investments (-€60,000) and Tax, wage and social debts (-€8,733)
- Receivables within one year -€11,061
down €11,061 (-4.3%), from €254,440 to €243,379
of which Other amounts receivable: -€10,539
- Other debts +€22,985
up €22,985 (+6.3%), from €366,057 to €389,042
- Reserves +€22,015
up €22,015 (+187.8%), from €11,723 to €33,739
of which Distributable reserves: +€22,015
- Tax, wage and social debts -€8,733
down €8,733 (-55.2%), from €15,819 to €7,086
of which Remuneration and social security: -€9,104
- Gross operating margin +€27,433
up €27,433 (+1218.1%), from €2,252 to €29,685
- Taxes +€8,721
up €8,721 (+435.4%), from €2,003 to €10,724
- Financial income +€1,291
up €1,291 (+66.1%), from €1,953 to €3,243
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 | €403,192 | €439,405 | +€36,214 | +9.0% |
| Fixed assets | 21/28 | €119,611 | €119,611 | = | 0.0% |
| Financial fixed assets | 28 | €119,611 | €119,611 | = | 0.0% |
| Current assets | 29/58 | €283,581 | €319,794 | +€36,214 | +12.8% |
| Amounts receivable within one year | 40/41 | €254,440 | €243,379 | -€11,061 | -4.3% |
| Trade receivables | 40 | €3,289 | €2,766 | -€522 | -15.9% |
| Other amounts receivable | 41 | €251,151 | €240,613 | -€10,539 | -4.2% |
| Current investments | 50/53 | - | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €29,141 | €16,282 | -€12,859 | -44.1% |
| Deferred charges and accrued income | 490/1 | - | €134 | +€134 | |
| Total equity and liabilities | 10/49 | €403,192 | €439,405 | +€36,214 | +9.0% |
| Equity | 10/15 | €21,023 | €43,039 | +€22,015 | +104.7% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €11,723 | €33,739 | +€22,015 | +187.8% |
| Non-distributable reserves | 130/1 | €15 | €15 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15 | €15 | = | 0.0% |
| Distributable reserves | 133 | €11,708 | €33,724 | +€22,015 | +188.0% |
| Amounts payable | 17/49 | €382,168 | €396,366 | +€14,198 | +3.7% |
| Amounts payable within one year | 42/48 | €382,168 | €396,366 | +€14,198 | +3.7% |
| Trade debts | 44 | €293 | €239 | -€54 | -18.5% |
| Suppliers | 440/4 | €293 | €239 | -€54 | -18.5% |
| Taxes, remuneration and social security | 45 | €15,819 | €7,086 | -€8,733 | -55.2% |
| Taxes | 450/3 | €4,894 | €5,265 | +€371 | +7.6% |
| Remuneration and social security | 454/9 | €10,925 | €1,821 | -€9,104 | -83.3% |
| Other amounts payable | 47/48 | €366,057 | €389,042 | +€22,985 | +6.3% |
| Non-recurring operating income | 76A | €54 | - | -€54 | |
| Other operating charges | 640/8 | €183 | €120 | -€63 | -34.3% |
| Gross operating margin | 9900 | €2,252 | €29,685 | +€27,433 | +1218.1% |
| Operating profit (loss) | 9901 | €2,070 | €29,565 | +€27,495 | +1328.5% |
| Financial income | 75/76B | €1,953 | €3,243 | +€1,291 | +66.1% |
| Recurring financial income | 75 | €1,953 | €3,243 | +€1,291 | +66.1% |
| Financial charges | 65/66B | €69 | €69 | +€0 | +0.1% |
| Recurring financial charges | 65 | €69 | €69 | +€0 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €3,953 | €32,739 | +€28,786 | +728.2% |
| Income taxes | 67/77 | €2,003 | €10,724 | +€8,721 | +435.4% |
| Profit (loss) for the period | 9904 | €1,950 | €22,015 | +€20,065 | +1028.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,950 | €22,015 | +€20,065 | +1028.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.