4LUNAS: 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
4LUNAS
NACE 46.831, Wholesale of construction materials, general range
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€48,194
2024 · €38,023-€86,217
Equity
€859,930
2024 · €908,124-€48,194
Cash
€118,289
2024 · €176,573-€58,284
Balance sheet total
€17.0m
2024 · €17.1m-€158,837
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
No liability line moved by more than 1% of the balance sheet total.
Income statement
- Gross operating margin +€222,018
up €222,018 (+24.3%), from €914,664 to €1.1m
- Depreciation +€214,632
up €214,632 (+35.9%), from €598,662 to €813,294
- Financial charges +€151,129
up €151,129 (+77.2%), from €195,637 to €346,766
- Financial income +€104,779
up €104,779 (+34,924%), from €300 to €105,079
- Taxes +€28,948
new in 2025: €28,948
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
€38,023
Gross operating margin
+€222,018
Depreciation
-€214,632
Write-downs
+€14,993
Other operating charges
-€9,898
Financial income
+€104,779
Financial charges
-€151,129
Taxes
-€28,948
Deferred taxes and other
-€23,401
Result 2025
-€48,194
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
+€593,013
Investment
-€700,700
Financing
+€49,403
Cash 2024
€176,573
From operations (derived)
+€593,013
Net result for the year
-€48,194
Depreciation
+€813,294
Receivables within one year
-€16,103
Deferred charges and accrued income
+€4,063
Provisions
-€9,608
Trade debts
-€162,463
Tax, wage and social debts
-€5,959
Other debts
+€2,278
Accrued charges and deferred income
+€15,706
Investment (derived)
-€700,700
Investment in fixed assets (net)
-€700,700
Financing
+€49,403
Debts after one year
+€32,523
Current portion of long-term debt
+€16,880
Cash 2025
€118,289
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,142,080 | €16,983,243 | -€158,837 | -0.9% |
| Fixed assets | 21/28 | €16,783,199 | €16,670,605 | -€112,594 | -0.7% |
| Tangible fixed assets | 22/27 | €16,712,699 | €16,670,105 | -€42,594 | -0.3% |
| Land and buildings | 22 | €13,820,576 | €16,541,104 | +€2.7m | +19.7% |
| Plant, machinery and equipment | 23 | €56,882 | €129,001 | +€72,120 | +127% |
| Assets under construction and advance payments | 27 | €2,835,241 | €0 | -€2.8m | -100% |
| Financial fixed assets | 28 | €70,500 | €500 | -€70,000 | -99.3% |
| Current assets | 29/58 | €358,881 | €312,638 | -€46,243 | -12.9% |
| Amounts receivable within one year | 40/41 | €171,953 | €188,056 | +€16,103 | +9.4% |
| Trade receivables | 40 | €131,648 | €182,073 | +€50,425 | +38.3% |
| Other amounts receivable | 41 | €40,305 | €5,984 | -€34,322 | -85.2% |
| Cash at bank and in hand | 54/58 | €176,573 | €118,289 | -€58,284 | -33.0% |
| Deferred charges and accrued income | 490/1 | €10,355 | €6,292 | -€4,063 | -39.2% |
| Total equity and liabilities | 10/49 | €17,142,080 | €16,983,243 | -€158,837 | -0.9% |
| Equity | 10/15 | €908,124 | €859,930 | -€48,194 | -5.3% |
| Contributions | 10/11 | €82,000 | €82,000 | = | 0.0% |
| Capital | 10 | €82,000 | €82,000 | = | 0.0% |
| Issued capital | 100 | €82,000 | €82,000 | = | 0.0% |
| Reserves | 13 | €826,124 | €797,301 | -€28,823 | -3.5% |
| Non-distributable reserves | 130/1 | €8,200 | €8,200 | = | 0.0% |
| Legal reserve | 130 | €8,200 | €8,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €727,778 | €698,955 | -€28,823 | -4.0% |
| Distributable reserves | 133 | €90,145 | €90,145 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€19,371 | -€19,371 | |
| Provisions and deferred taxes | 16 | €242,593 | €232,985 | -€9,608 | -4.0% |
| Deferred taxes | 168 | €242,593 | €232,985 | -€9,608 | -4.0% |
| Amounts payable | 17/49 | €15,991,363 | €15,890,328 | -€101,035 | -0.6% |
| Amounts payable after more than one year | 17 | €14,634,070 | €14,666,593 | +€32,523 | +0.2% |
| Financial debts | 170/4 | €14,134,070 | €13,341,771 | -€792,299 | -5.6% |
| Other amounts payable | 178/9 | €500,000 | €1,324,822 | +€824,822 | +165% |
| Amounts payable within one year | 42/48 | €1,347,294 | €1,198,029 | -€149,265 | -11.1% |
| Current portion of amounts payable after more than one year | 42 | €949,816 | €966,696 | +€16,880 | +1.8% |
| Trade debts | 44 | €244,379 | €81,916 | -€162,463 | -66.5% |
| Suppliers | 440/4 | €244,379 | €81,916 | -€162,463 | -66.5% |
| Taxes, remuneration and social security | 45 | €53,818 | €47,859 | -€5,959 | -11.1% |
| Taxes | 450/3 | €53,818 | €47,859 | -€5,959 | -11.1% |
| Other amounts payable | 47/48 | €99,280 | €101,558 | +€2,278 | +2.3% |
| Accrued charges and deferred income | 492/3 | €10,000 | €25,706 | +€15,706 | +157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €598,662 | €813,294 | +€214,632 | +35.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,993 | €0 | -€14,993 | -100% |
| Other operating charges | 640/8 | €100,657 | €110,555 | +€9,898 | +9.8% |
| Gross operating margin | 9900 | €914,664 | €1,136,682 | +€222,018 | +24.3% |
| Operating profit (loss) | 9901 | €200,352 | €212,833 | +€12,482 | +6.2% |
| Financial income | 75/76B | €300 | €105,079 | +€104,779 | +34,924% |
| Recurring financial income | 75 | €300 | €105,079 | +€104,779 | +34,924% |
| Financial charges | 65/66B | €195,637 | €346,766 | +€151,129 | +77.2% |
| Recurring financial charges | 65 | €195,637 | €346,766 | +€151,129 | +77.2% |
| Profit (loss) for the period before taxes | 9903 | €5,015 | -€28,853 | -€33,868 | |
| Transfer from deferred taxes | 780 | €33,008 | €9,608 | -€23,401 | -70.9% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | - | €28,948 | +€28,948 | |
| Profit (loss) for the period | 9904 | €38,023 | -€48,194 | -€86,217 | |
| Transfer from tax-exempt reserves | 789 | €99,025 | €28,823 | -€70,202 | -70.9% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €137,049 | -€19,371 | -€156,419 |
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.