4SPROJECT: what changed
4SPROJECT
Largest movements
- Cash +€28,709
up €28,709 (+513%), from €5,598 to €34,307
mainly Trade debts (+€29,130) and Net result for the year (+€8,237)
- Receivables within one year +€11,609
up €11,609 (+31.8%), from €36,505 to €48,114
of which Trade receivables: +€11,672
- Tangible fixed assets -€2,292
down €2,292 (-33.7%), from €6,809 to €4,517
- Deferred charges and accrued income -€1,428
no longer reported in 2025 (was €1,428)
- Trade debts +€29,130
up €29,130 (+345%), from €8,446 to €37,576
- Profit (loss) carried forward +€8,237
up €8,237 (+43.3%), from -€19,013 to -€10,776
- Other debts -€2,952
down €2,952 (-15.6%), from €18,869 to €15,916
- Tax, wage and social debts +€2,183
up €2,183 (+6.9%), from €31,518 to €33,701
of which Taxes: +€3,021
- Gross operating margin +€5,597
up €5,597 (+27.7%), from €20,206 to €25,803
- Other operating charges -€2,379
down €2,379 (-68.8%), from €3,458 to €1,079
- Taxes +€1,720
up €1,720 (+70.5%), from €2,441 to €4,160
- Write-downs -€1,385
no longer reported in 2025 (was €1,385)
- Staff costs +€936
up €936 (+11.9%), from €7,870 to €8,806
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 | €53,069 | €89,667 | +€36,598 | +69.0% |
| Fixed assets | 21/28 | €9,539 | €7,247 | -€2,292 | -24.0% |
| Tangible fixed assets | 22/27 | €6,809 | €4,517 | -€2,292 | -33.7% |
| Furniture and vehicles | 24 | €6,809 | €4,517 | -€2,292 | -33.7% |
| Financial fixed assets | 28 | €2,730 | €2,730 | = | 0.0% |
| Current assets | 29/58 | €43,530 | €82,420 | +€38,890 | +89.3% |
| Amounts receivable within one year | 40/41 | €36,505 | €48,114 | +€11,609 | +31.8% |
| Trade receivables | 40 | €36,434 | €48,106 | +€11,672 | +32.0% |
| Other amounts receivable | 41 | €71 | €8 | -€63 | -89.2% |
| Cash at bank and in hand | 54/58 | €5,598 | €34,307 | +€28,709 | +513% |
| Deferred charges and accrued income | 490/1 | €1,428 | - | -€1,428 | |
| Total equity and liabilities | 10/49 | €53,069 | €89,667 | +€36,598 | +69.0% |
| Equity | 10/15 | -€5,763 | €2,474 | +€8,237 | |
| Contributions | 10/11 | €13,250 | €13,250 | = | 0.0% |
| Contributions outside capital | 11 | €13,250 | €13,250 | = | 0.0% |
| Share premium | 1100/10 | €12,250 | €12,250 | = | 0.0% |
| Other | 1109/19 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,013 | -€10,776 | +€8,237 | +43.3% |
| Amounts payable | 17/49 | €58,833 | €87,194 | +€28,361 | +48.2% |
| Amounts payable within one year | 42/48 | €58,833 | €87,194 | +€28,361 | +48.2% |
| Trade debts | 44 | €8,446 | €37,576 | +€29,130 | +345% |
| Suppliers | 440/4 | €8,446 | €37,576 | +€29,130 | +345% |
| Taxes, remuneration and social security | 45 | €31,518 | €33,701 | +€2,183 | +6.9% |
| Taxes | 450/3 | €19,518 | €22,539 | +€3,021 | +15.5% |
| Remuneration and social security | 454/9 | €12,000 | €11,162 | -€838 | -7.0% |
| Other amounts payable | 47/48 | €18,869 | €15,916 | -€2,952 | -15.6% |
| Remuneration, social security and pensions | 62 | €7,870 | €8,806 | +€936 | +11.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,776 | €2,892 | -€885 | -23.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,385 | - | -€1,385 | |
| Other operating charges | 640/8 | €3,458 | €1,079 | -€2,379 | -68.8% |
| Gross operating margin | 9900 | €20,206 | €25,803 | +€5,597 | +27.7% |
| Operating profit (loss) | 9901 | €3,716 | €13,027 | +€9,311 | +251% |
| Financial income | 75/76B | - | €355 | +€355 | |
| Recurring financial income | 75 | - | €355 | +€355 | |
| Financial charges | 65/66B | €590 | €984 | +€394 | +66.8% |
| Recurring financial charges | 65 | €590 | €984 | +€394 | +66.8% |
| Profit (loss) for the period before taxes | 9903 | €3,126 | €12,397 | +€9,271 | +297% |
| Income taxes | 67/77 | €2,441 | €4,160 | +€1,720 | +70.5% |
| Profit (loss) for the period | 9904 | €686 | €8,237 | +€7,551 | +1,101% |
| Profit (loss) for the period to be appropriated | 9905 | €686 | €8,237 | +€7,551 | +1,101% |
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.