GENERATION4: 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.
What changed
GENERATION4
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€88,773
2024 · -€61,756+€150,528
Equity
€72,818
2024 · -€15,954+€88,773
Cash
€40,678
2024 · €32,206+€8,472
Balance sheet total
€678,123
2024 · €665,466+€12,657
Largest movements
Assets
- Receivables within one year +€59,524
up €59,524 (+64.8%), from €91,797 to €151,321
of which Trade receivables: +€73,278
- Tangible fixed assets -€34,984
down €34,984 (-17.5%), from €199,595 to €164,611
- Intangible fixed assets -€16,600
down €16,600 (-85.2%), from €19,490 to €2,890
- Cash +€8,472
up €8,472 (+26.3%), from €32,206 to €40,678
mainly Net result for the year (+€88,773) and Depreciation (+€58,165)
Equity and liabilities
- Profit (loss) carried forward +€88,773
up €88,773 (+21.3%), from -€415,954 to -€327,182
- Debts after one year -€57,651
down €57,651 (-62.4%), from €92,439 to €34,788
- Trade debts -€31,143
down €31,143 (-51.6%), from €60,367 to €29,224
- Tax, wage and social debts +€10,263
up €10,263 (+43.9%), from €23,379 to €33,642
of which Remuneration and social security: +€8,827
Income statement
- Turnover +€662,257
new in 2025: €662,257
- Services and other goods +€346,190
new in 2025: €346,190
- Other operating income +€259,333
new in 2025: €259,333
- Gross operating margin -€181,066
no longer reported in 2025 (was €181,066)
- Goods and materials +€143,114
new in 2025: €143,114
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.
Result 2024
-€61,756
Turnover
+€662,257
Other operating income
+€259,333
Goods and materials
-€143,114
Services and other goods
-€346,190
Staff costs
-€100,005
Depreciation
+€1,530
Other operating charges
-€50
Other operating items
-€182,230
Financial income
+€12
Financial charges
-€623
Taxes
-€391
Result 2025
€88,773
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€66,755
Investment
-€3,049
Financing
-€55,235
Cash 2024
€32,206
From operations (derived)
+€66,755
Net result for the year
+€88,773
Depreciation
+€58,165
Receivables within one year
-€59,524
Deferred charges and accrued income
+€221
Trade debts
-€31,143
Tax, wage and social debts
+€10,263
Investment (derived)
-€3,049
Investment in fixed assets (net)
-€3,049
Financing
-€55,235
Debts after one year
-€57,651
Current portion of long-term debt
+€2,416
Cash 2025
€40,678
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €665,466 | €678,123 | +€12,657 | +1.9% |
| Formation expenses | 20 | €9,736 | €6,203 | -€3,533 | -36.3% |
| Fixed assets | 21/28 | €531,505 | €479,921 | -€51,583 | -9.7% |
| Intangible fixed assets | 21 | €19,490 | €2,890 | -€16,600 | -85.2% |
| Tangible fixed assets | 22/27 | €199,595 | €164,611 | -€34,984 | -17.5% |
| Plant, machinery and equipment | 23 | €11,560 | €3,434 | -€8,126 | -70.3% |
| Furniture and vehicles | 24 | €36,614 | €24,504 | -€12,110 | -33.1% |
| Other tangible fixed assets | 26 | €151,422 | €136,674 | -€14,748 | -9.7% |
| Financial fixed assets | 28 | €312,420 | €312,420 | = | 0.0% |
| Affiliated companies | 280/1 | - | €300,000 | +€300,000 | |
| Participating interests | 280 | - | €300,000 | +€300,000 | |
| Other financial fixed assets | 284/8 | - | €12,420 | +€12,420 | |
| Amounts receivable and cash guarantees | 285/8 | - | €12,420 | +€12,420 | |
| Current assets | 29/58 | €124,224 | €191,998 | +€67,774 | +54.6% |
| Amounts receivable within one year | 40/41 | €91,797 | €151,321 | +€59,524 | +64.8% |
| Trade receivables | 40 | €67,606 | €140,885 | +€73,278 | +108% |
| Other amounts receivable | 41 | €24,191 | €10,436 | -€13,755 | -56.9% |
| Cash at bank and in hand | 54/58 | €32,206 | €40,678 | +€8,472 | +26.3% |
| Deferred charges and accrued income | 490/1 | €221 | - | -€221 | |
| Total equity and liabilities | 10/49 | €665,466 | €678,123 | +€12,657 | +1.9% |
| Equity | 10/15 | -€15,954 | €72,818 | +€88,773 | |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€415,954 | -€327,182 | +€88,773 | +21.3% |
| Amounts payable | 17/49 | €681,420 | €605,305 | -€76,115 | -11.2% |
| Amounts payable after more than one year | 17 | €92,439 | €34,788 | -€57,651 | -62.4% |
| Financial debts | 170/4 | €92,439 | €34,788 | -€57,651 | -62.4% |
| Credit institutions | 173 | - | €34,788 | +€34,788 | |
| Amounts payable within one year | 42/48 | €588,981 | €570,517 | -€18,464 | -3.1% |
| Current portion of amounts payable after more than one year | 42 | €55,235 | €57,651 | +€2,416 | +4.4% |
| Financial debts | 43 | €450,000 | €450,000 | = | 0.0% |
| Other loans | 439 | €450,000 | €450,000 | = | 0.0% |
| Trade debts | 44 | €60,367 | €29,224 | -€31,143 | -51.6% |
| Suppliers | 440/4 | €60,367 | €29,224 | -€31,143 | -51.6% |
| Taxes, remuneration and social security | 45 | €23,379 | €33,642 | +€10,263 | +43.9% |
| Taxes | 450/3 | €4,826 | €6,261 | +€1,436 | +29.7% |
| Remuneration and social security | 454/9 | €18,553 | €27,381 | +€8,827 | +47.6% |
| Operating income | 70/76A | - | €921,590 | +€921,590 | |
| Turnover | 70 | - | €662,257 | +€662,257 | |
| Other operating income | 74 | - | €259,333 | +€259,333 | |
| Operating charges | 60/66A | - | €797,221 | +€797,221 | |
| Goods for resale, raw materials and consumables | 60 | - | €143,114 | +€143,114 | |
| Purchases | 600/8 | - | €143,114 | +€143,114 | |
| Services and other goods | 61 | - | €346,190 | +€346,190 | |
| Remuneration, social security and pensions | 62 | €147,779 | €247,785 | +€100,005 | +67.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,695 | €58,165 | -€1,530 | -2.6% |
| Other operating charges | 640/8 | €753 | €804 | +€50 | +6.7% |
| Non-recurring operating charges | 66A | - | €1,164 | +€1,164 | |
| Gross operating margin | 9900 | €181,066 | - | -€181,066 | |
| Operating profit (loss) | 9901 | -€27,162 | €124,369 | +€151,530 | |
| Financial income | 75/76B | - | €12 | +€12 | |
| Recurring financial income | 75 | - | €12 | +€12 | |
| Other financial income | 752/9 | - | €12 | +€12 | |
| Financial charges | 65/66B | €33,922 | €34,545 | +€623 | +1.8% |
| Recurring financial charges | 65 | €33,922 | €34,545 | +€623 | +1.8% |
| Debt charges | 650 | - | €33,427 | +€33,427 | |
| Other financial charges | 652/9 | - | €1,118 | +€1,118 | |
| Profit (loss) for the period before taxes | 9903 | -€61,084 | €89,835 | +€150,919 | |
| Income taxes | 67/77 | €672 | €1,063 | +€391 | +58.1% |
| Taxes | 670/3 | - | €1,063 | +€1,063 | |
| Profit (loss) for the period | 9904 | -€61,756 | €88,773 | +€150,528 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,756 | €88,773 | +€150,528 |
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 15 October 2026 via checked.be.