4D Real Estate: what changed
What changed
4D Real Estate
NACE 52.100, Warehousing and storage
filed annual accounts (NBB)
Net result for the year
€45,644
2024 · -€101,196+€146,840
Equity
€133,348
2024 · €87,704+€45,644
Cash
€8,237
2024 · €2,739+€5,498
Balance sheet total
€599,840
2024 · €380,984+€218,856
Largest movements
Assets
- Tangible fixed assets +€250,551
up €250,551 (+82.0%), from €305,509 to €556,060
of which Land and buildings: +€197,328
- Current investments -€50,000
down €50,000 (-100%), from €50,000 to €0
- Receivables within one year +€8,287
up €8,287 (+36.4%), from €22,736 to €31,023
of which Trade receivables: +€8,287
Equity and liabilities
- Debts after one year +€99,223
up €99,223 (+38.0%), from €261,078 to €360,301
- Other debts +€48,982
up €48,982 (+4,352%), from €1,125 to €50,107
- Profit (loss) carried forward +€45,644
up €45,644 (+44.6%), from -€102,296 to -€56,652
- Trade debts +€12,362
up €12,362 (+219%), from €5,634 to €17,996
- Current portion of long-term debt +€11,523
up €11,523 (+82.8%), from €13,922 to €25,445
Income statement
- Financial charges -€30,121
down €30,121 (-66.1%), from €45,543 to €15,422
of which Financial charges: -€25,121
- Depreciation -€23,468
down €23,468 (-57.2%), from €41,062 to €17,594
- Gross operating margin -€8,109
down €8,109 (-8.9%), from €90,651 to €82,542
- Other operating charges +€2,385
up €2,385 (+191%), from €1,252 to €3,637
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.
Result 2024
-€101,196
Gross operating margin
-€8,109
Depreciation
+€23,468
Other operating charges
-€2,385
Other operating items
+€103,892
Financial income
-€55
Financial charges
+€30,121
Taxes
-€92
Result 2025
€45,644
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€112,898
Investment
-€218,146
Financing
+€110,746
Cash 2024
€2,739
From operations (derived)
+€112,898
Net result for the year
+€45,644
Depreciation
+€17,594
Receivables within one year
-€8,287
Deferred charges and accrued income
-€4,519
Trade debts
+€12,362
Tax, wage and social debts
+€1,073
Other debts
+€48,982
Accrued charges and deferred income
+€49
Investment (derived)
-€218,146
Investment in fixed assets (net)
-€268,146
Current investments
+€50,000
Financing
+€110,746
Debts after one year
+€99,223
Current portion of long-term debt
+€11,523
Cash 2025
€8,237
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €380,984 | €599,840 | +€218,856 | +57.4% |
| Fixed assets | 21/28 | €305,509 | €556,060 | +€250,551 | +82.0% |
| Tangible fixed assets | 22/27 | €305,509 | €556,060 | +€250,551 | +82.0% |
| Land and buildings | 22 | €304,452 | €501,780 | +€197,328 | +64.8% |
| Plant, machinery and equipment | 23 | €1,057 | €11,544 | +€10,486 | +992% |
| Furniture and vehicles | 24 | - | €29,900 | +€29,900 | |
| Other tangible fixed assets | 26 | - | €12,837 | +€12,837 | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €75,475 | €43,780 | -€31,695 | -42.0% |
| Amounts receivable within one year | 40/41 | €22,736 | €31,023 | +€8,287 | +36.4% |
| Trade receivables | 40 | €22,736 | €31,023 | +€8,287 | +36.4% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100% |
| Cash at bank and in hand | 54/58 | €2,739 | €8,237 | +€5,498 | +201% |
| Deferred charges and accrued income | 490/1 | €0 | €4,519 | +€4,519 | |
| Total equity and liabilities | 10/49 | €380,984 | €599,840 | +€218,856 | +57.4% |
| Equity | 10/15 | €87,704 | €133,348 | +€45,644 | +52.0% |
| Contributions | 10/11 | €190,000 | €190,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,296 | -€56,652 | +€45,644 | +44.6% |
| Amounts payable | 17/49 | €293,280 | €466,492 | +€173,212 | +59.1% |
| Amounts payable after more than one year | 17 | €261,078 | €360,301 | +€99,223 | +38.0% |
| Financial debts | 170/4 | €261,078 | €360,301 | +€99,223 | +38.0% |
| Amounts payable within one year | 42/48 | €31,747 | €105,687 | +€73,940 | +233% |
| Current portion of amounts payable after more than one year | 42 | €13,922 | €25,445 | +€11,523 | +82.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,634 | €17,996 | +€12,362 | +219% |
| Suppliers | 440/4 | €5,634 | €17,996 | +€12,362 | +219% |
| Taxes, remuneration and social security | 45 | €11,065 | €12,139 | +€1,073 | +9.7% |
| Taxes | 450/3 | €11,065 | €12,139 | +€1,073 | +9.7% |
| Other amounts payable | 47/48 | €1,125 | €50,107 | +€48,982 | +4,352% |
| Accrued charges and deferred income | 492/3 | €455 | €504 | +€49 | +10.7% |
| Non-recurring operating income | 76A | €702 | €0 | -€702 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,062 | €17,594 | -€23,468 | -57.2% |
| Other operating charges | 640/8 | €1,252 | €3,637 | +€2,385 | +191% |
| Non-recurring operating charges | 66A | €103,892 | €0 | -€103,892 | -100% |
| Gross operating margin | 9900 | €90,651 | €82,542 | -€8,109 | -8.9% |
| Operating profit (loss) | 9901 | -€55,555 | €61,311 | +€116,866 | |
| Financial income | 75/76B | €80 | €25 | -€55 | -69.2% |
| Recurring financial income | 75 | €80 | €25 | -€55 | -69.2% |
| Financial charges | 65/66B | €45,543 | €15,422 | -€30,121 | -66.1% |
| Recurring financial charges | 65 | €40,543 | €15,422 | -€25,121 | -62.0% |
| Non-recurring financial charges | 66B | €5,000 | €0 | -€5,000 | -100% |
| Profit (loss) for the period before taxes | 9903 | -€101,019 | €45,913 | +€146,932 | |
| Income taxes | 67/77 | €177 | €269 | +€92 | +52.3% |
| Profit (loss) for the period | 9904 | -€101,196 | €45,644 | +€146,840 | |
| Profit (loss) for the period to be appropriated | 9905 | -€101,196 | €45,644 | +€146,840 |
Next steps
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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 3 November 2026 via checked.be.