4pablo: 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.
4pablo
Largest movements
- Receivables within one year +€35,633
up €35,633 (+44.3%), from €80,443 to €116,077
of which Trade receivables: +€40,876
- Tangible fixed assets -€13,518
down €13,518 (-4.8%), from €279,146 to €265,628
of which Leasing and similar rights: -€8,508
- Financial fixed assets -€9,800
down €9,800 (-1.8%), from €550,800 to €541,000
- Current portion of long-term debt -€27,071
down €27,071 (-44.9%), from €60,240 to €33,169
- Profit (loss) carried forward +€25,498
new in 2025: €25,498
- Tax, wage and social debts +€13,539
up €13,539 (+122%), from €11,055 to €24,594
- Accrued charges and deferred income +€11,926
up €11,926 (+152%), from €7,831 to €19,757
- Debts after one year -€9,974
down €9,974 (-2.4%), from €421,639 to €411,666
- Gross operating margin -€41,997
down €41,997 (-37.2%), from €112,778 to €70,780
- Taxes -€13,108
down €13,108 (-53.0%), from €24,726 to €11,618
- Other operating charges +€1,766
up €1,766 (+70.6%), from €2,501 to €4,267
- Depreciation -€1,358
down €1,358 (-7.5%), from €18,117 to €16,759
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 | €915,207 | €932,074 | +€16,867 | +1.8% |
| Fixed assets | 21/28 | €829,946 | €806,628 | -€23,318 | -2.8% |
| Tangible fixed assets | 22/27 | €279,146 | €265,628 | -€13,518 | -4.8% |
| Land and buildings | 22 | €270,638 | €262,942 | -€7,696 | -2.8% |
| Furniture and vehicles | 24 | - | €2,686 | +€2,686 | |
| Leasing and similar rights | 25 | €8,508 | - | -€8,508 | |
| Financial fixed assets | 28 | €550,800 | €541,000 | -€9,800 | -1.8% |
| Current assets | 29/58 | €85,261 | €125,446 | +€40,185 | +47.1% |
| Amounts receivable within one year | 40/41 | €80,443 | €116,077 | +€35,633 | +44.3% |
| Trade receivables | 40 | €20,954 | €61,830 | +€40,876 | +195% |
| Other amounts receivable | 41 | €59,489 | €54,247 | -€5,242 | -8.8% |
| Cash at bank and in hand | 54/58 | €4,220 | €8,903 | +€4,683 | +111% |
| Deferred charges and accrued income | 490/1 | €597 | €466 | -€131 | -21.9% |
| Total equity and liabilities | 10/49 | €915,207 | €932,074 | +€16,867 | +1.8% |
| Equity | 10/15 | €410,766 | €436,264 | +€25,498 | +6.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Contributions outside capital | 11 | €100,000 | €100,000 | = | 0.0% |
| Other | 1109/19 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €310,766 | €310,766 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,867 | €1,867 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,867 | €1,867 | = | 0.0% |
| Distributable reserves | 133 | €308,899 | €308,899 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €25,498 | +€25,498 | |
| Amounts payable | 17/49 | €504,441 | €495,810 | -€8,631 | -1.7% |
| Amounts payable after more than one year | 17 | €421,639 | €411,666 | -€9,974 | -2.4% |
| Financial debts | 170/4 | €421,639 | €411,666 | -€9,974 | -2.4% |
| Amounts payable within one year | 42/48 | €74,971 | €64,387 | -€10,584 | -14.1% |
| Current portion of amounts payable after more than one year | 42 | €60,240 | €33,169 | -€27,071 | -44.9% |
| Financial debts | 43 | €722 | €1,522 | +€801 | +111% |
| Credit institutions | 430/8 | €722 | €1,522 | +€801 | +111% |
| Trade debts | 44 | €1,564 | €5,102 | +€3,538 | +226% |
| Suppliers | 440/4 | €1,564 | €5,102 | +€3,538 | +226% |
| Taxes, remuneration and social security | 45 | €11,055 | €24,594 | +€13,539 | +122% |
| Taxes | 450/3 | €11,055 | €24,594 | +€13,539 | +122% |
| Other amounts payable | 47/48 | €1,390 | - | -€1,390 | |
| Accrued charges and deferred income | 492/3 | €7,831 | €19,757 | +€11,926 | +152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,117 | €16,759 | -€1,358 | -7.5% |
| Other operating charges | 640/8 | €2,501 | €4,267 | +€1,766 | +70.6% |
| Non-recurring operating charges | 66A | €1,548 | - | -€1,548 | |
| Gross operating margin | 9900 | €112,778 | €70,780 | -€41,997 | -37.2% |
| Operating profit (loss) | 9901 | €90,612 | €49,754 | -€40,858 | -45.1% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €12,873 | €12,643 | -€230 | -1.8% |
| Recurring financial charges | 65 | €12,873 | €12,643 | -€230 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €77,738 | €37,116 | -€40,622 | -52.3% |
| Income taxes | 67/77 | €24,726 | €11,618 | -€13,108 | -53.0% |
| Profit (loss) for the period | 9904 | €53,012 | €25,498 | -€27,514 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,012 | €25,498 | -€27,514 | -51.9% |
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 28 October 2026 via checked.be.