4FINANCE: what changed
4FINANCE
Largest movements
- Receivables after one year -€266,182
no longer reported in 2025 (was €266,182)
- Receivables within one year +€195,216
up €195,216 (+91.3%), from €213,785 to €409,001
of which Trade receivables: +€195,255
- Tangible fixed assets -€33,730
down €33,730 (-72.1%), from €46,764 to €13,034
of which Furniture and vehicles: -€26,755
- Cash +€12,636
up €12,636 (+48.7%), from €25,965 to €38,601
mainly Other debts (+€390,185) and Receivables after one year (+€266,182)
- Trade debts -€395,189
down €395,189 (-87.9%), from €449,634 to €54,445
- Other debts +€390,185
up €390,185 (+2,233%), from €17,471 to €407,656
- Tax, wage and social debts -€48,354
down €48,354 (-76.8%), from €62,926 to €14,572
of which Remuneration and social security: -€28,374
- Profit (loss) carried forward -€33,486
down €33,486 (-78.2%), from €42,798 to €9,312
- Contributions -€10,393
down €10,393 (-72.9%), from €14,260 to €3,867
- Gross operating margin -€104,631
down €104,631 (-28.4%), from €368,023 to €263,392
- Staff costs -€101,702
down €101,702 (-33.9%), from €300,357 to €198,655
- Other operating charges -€22,200
down €22,200 (-76.3%), from €29,091 to €6,891
- Depreciation -€12,941
down €12,941 (-52.6%), from €24,619 to €11,678
- Taxes -€6,796
down €6,796 (-54.9%), from €12,370 to €5,573
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €589,789 | €489,851 | -€99,937 | -16.9% |
| Fixed assets | 21/28 | €77,894 | €41,164 | -€36,730 | -47.2% |
| Intangible fixed assets | 21 | €12,000 | €9,000 | -€3,000 | -25.0% |
| Tangible fixed assets | 22/27 | €46,764 | €13,034 | -€33,730 | -72.1% |
| Furniture and vehicles | 24 | €39,789 | €13,034 | -€26,755 | -67.2% |
| Other tangible fixed assets | 26 | €6,975 | - | -€6,975 | |
| Financial fixed assets | 28 | €19,130 | €19,130 | = | 0.0% |
| Current assets | 29/58 | €511,895 | €448,687 | -€63,208 | -12.3% |
| Amounts receivable after more than one year | 29 | €266,182 | - | -€266,182 | |
| Other amounts receivable | 291 | €266,182 | - | -€266,182 | |
| Amounts receivable within one year | 40/41 | €213,785 | €409,001 | +€195,216 | +91.3% |
| Trade receivables | 40 | €208,349 | €403,603 | +€195,255 | +93.7% |
| Other amounts receivable | 41 | €5,436 | €5,398 | -€39 | -0.7% |
| Cash at bank and in hand | 54/58 | €25,965 | €38,601 | +€12,636 | +48.7% |
| Deferred charges and accrued income | 490/1 | €5,963 | €1,085 | -€4,878 | -81.8% |
| Total equity and liabilities | 10/49 | €589,789 | €489,851 | -€99,937 | -16.9% |
| Equity | 10/15 | €57,058 | €13,179 | -€43,880 | -76.9% |
| Contributions | 10/11 | €14,260 | €3,867 | -€10,393 | -72.9% |
| Contributions outside capital | 11 | €14,260 | - | -€14,260 | |
| Other | 1109/19 | €14,260 | - | -€14,260 | |
| Profit (loss) carried forward | 14 | €42,798 | €9,312 | -€33,486 | -78.2% |
| Amounts payable | 17/49 | €532,731 | €476,673 | -€56,058 | -10.5% |
| Amounts payable after more than one year | 17 | €2,700 | - | -€2,700 | |
| Other amounts payable | 178/9 | €2,700 | - | -€2,700 | |
| Amounts payable within one year | 42/48 | €530,031 | €476,673 | -€53,358 | -10.1% |
| Trade debts | 44 | €449,634 | €54,445 | -€395,189 | -87.9% |
| Suppliers | 440/4 | €449,634 | €54,445 | -€395,189 | -87.9% |
| Taxes, remuneration and social security | 45 | €62,926 | €14,572 | -€48,354 | -76.8% |
| Taxes | 450/3 | €22,957 | €2,977 | -€19,980 | -87.0% |
| Remuneration and social security | 454/9 | €39,969 | €11,595 | -€28,374 | -71.0% |
| Other amounts payable | 47/48 | €17,471 | €407,656 | +€390,185 | +2,233% |
| Remuneration, social security and pensions | 62 | €300,357 | €198,655 | -€101,702 | -33.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,619 | €11,678 | -€12,941 | -52.6% |
| Other operating charges | 640/8 | €29,091 | €6,891 | -€22,200 | -76.3% |
| Gross operating margin | 9900 | €368,023 | €263,392 | -€104,631 | -28.4% |
| Operating profit (loss) | 9901 | €13,956 | €46,169 | +€32,212 | +231% |
| Financial income | 75/76B | €8,273 | €4,488 | -€3,785 | -45.8% |
| Recurring financial income | 75 | €8,273 | €4,488 | -€3,785 | -45.8% |
| Financial charges | 65/66B | €725 | €818 | +€93 | +12.8% |
| Recurring financial charges | 65 | €725 | €818 | +€93 | +12.8% |
| Profit (loss) for the period before taxes | 9903 | €21,505 | €49,839 | +€28,334 | +132% |
| Income taxes | 67/77 | €12,370 | €5,573 | -€6,796 | -54.9% |
| Profit (loss) for the period | 9904 | €9,135 | €44,266 | +€35,131 | +385% |
| Profit (loss) for the period to be appropriated | 9905 | €9,135 | €44,266 | +€35,131 | +385% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.