4L HOLDING: 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.
4L HOLDING
Largest movements
- Cash +€488,124
up €488,124 (+131%), from €373,168 to €861,292
mainly Net result for the year (+€636,003) and Tax, wage and social debts (+€255,186)
- Receivables within one year +€267,474
up €267,474 (+1,340%), from €19,967 to €287,441
of which Other amounts receivable: +€283,083
- Tangible fixed assets +€82,000
new in 2025: €82,000
- Reserves +€636,003
up €636,003 (+112%), from €566,371 to €1.2m
- Tax, wage and social debts +€255,186
up €255,186 (+464%), from €54,977 to €310,163
of which Taxes: +€255,186
- Current portion of long-term debt +€75,435
up €75,435 (+104%), from €72,517 to €147,952
- Debts after one year -€74,708
down €74,708 (-25.6%), from €292,003 to €217,295
- Short-term financial debts -€46,957
no longer reported in 2025 (was €46,957)
- Gross operating margin +€608,115
up €608,115 (+164%), from €371,813 to €979,929
- Taxes +€190,759
up €190,759 (+170%), from €111,942 to €302,701
- Financial charges +€30,180
up €30,180 (+219%), from €13,787 to €43,967
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 | €1,043,572 | €1,880,783 | +€837,211 | +80.2% |
| Fixed assets | 21/28 | €650,050 | €732,050 | +€82,000 | +12.6% |
| Tangible fixed assets | 22/27 | - | €82,000 | +€82,000 | |
| Other tangible fixed assets | 26 | - | €82,000 | +€82,000 | |
| Financial fixed assets | 28 | €650,050 | €650,050 | = | 0.0% |
| Current assets | 29/58 | €393,522 | €1,148,733 | +€755,211 | +192% |
| Amounts receivable within one year | 40/41 | €19,967 | €287,441 | +€267,474 | +1,340% |
| Trade receivables | 40 | €19,967 | €4,358 | -€15,609 | -78.2% |
| Other amounts receivable | 41 | - | €283,083 | +€283,083 | |
| Cash at bank and in hand | 54/58 | €373,168 | €861,292 | +€488,124 | +131% |
| Deferred charges and accrued income | 490/1 | €387 | - | -€387 | |
| Total equity and liabilities | 10/49 | €1,043,572 | €1,880,783 | +€837,211 | +80.2% |
| Equity | 10/15 | €569,371 | €1,205,374 | +€636,003 | +112% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Contributions outside capital | 11 | - | €3,000 | +€3,000 | |
| Share premium | 1100/10 | - | €3,000 | +€3,000 | |
| Reserves | 13 | €566,371 | €1,202,374 | +€636,003 | +112% |
| Distributable reserves | 133 | €566,371 | €1,202,374 | +€636,003 | +112% |
| Amounts payable | 17/49 | €474,201 | €675,409 | +€201,208 | +42.4% |
| Amounts payable after more than one year | 17 | €292,003 | €217,295 | -€74,708 | -25.6% |
| Financial debts | 170/4 | €292,003 | €217,295 | -€74,708 | -25.6% |
| Amounts payable within one year | 42/48 | €182,198 | €458,115 | +€275,916 | +151% |
| Current portion of amounts payable after more than one year | 42 | €72,517 | €147,952 | +€75,435 | +104% |
| Financial debts | 43 | €46,957 | - | -€46,957 | |
| Other loans | 439 | €46,957 | - | -€46,957 | |
| Taxes, remuneration and social security | 45 | €54,977 | €310,163 | +€255,186 | +464% |
| Taxes | 450/3 | €52,227 | €307,413 | +€255,186 | +489% |
| Remuneration and social security | 454/9 | €2,750 | €2,750 | = | 0.0% |
| Other amounts payable | 47/48 | €7,748 | €0 | -€7,748 | -100% |
| Other operating charges | 640/8 | - | €622 | +€622 | |
| Gross operating margin | 9900 | €371,813 | €979,929 | +€608,115 | +164% |
| Operating profit (loss) | 9901 | €371,813 | €979,307 | +€607,494 | +163% |
| Financial income | 75/76B | €3,604 | €3,364 | -€241 | -6.7% |
| Recurring financial income | 75 | €3,604 | €3,364 | -€241 | -6.7% |
| Financial charges | 65/66B | €13,787 | €43,967 | +€30,180 | +219% |
| Recurring financial charges | 65 | €13,787 | €43,967 | +€30,180 | +219% |
| Profit (loss) for the period before taxes | 9903 | €361,631 | €938,704 | +€577,073 | +160% |
| Income taxes | 67/77 | €111,942 | €302,701 | +€190,759 | +170% |
| Profit (loss) for the period | 9904 | €249,689 | €636,003 | +€386,313 | +155% |
| Transfer to tax-exempt reserves | 689 | - | €0 | = | |
| Profit (loss) for the period to be appropriated | 9905 | €249,689 | €636,003 | +€386,313 | +155% |
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 16 October 2026 via checked.be.