4M ENGINEERING: what changed
Two fiscal 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
4M ENGINEERING
NACE 42.990, Civil engineering
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€833,807
2024 · €630,557+€203,250
Equity
€1.7m
2024 · €1.6m+€31,826
Cash
€1.0m
2024 · €497,858+€504,521
Balance sheet total
€3.9m
2024 · €3.9m-€13,293
Largest movements
Assets
- Receivables within one year -€539,529
down €539,529 (-23.7%), from €2.3m to €1.7m
of which Trade receivables: -€553,217
- Cash +€504,521
up €504,521 (+101.3%), from €497,858 to €1.0m
mainly Net result for the year (+€833,807) and Receivables within one year (+€539,529)
Equity and liabilities
- Trade debts -€206,133
down €206,133 (-30.0%), from €687,312 to €481,179
- Other debts +€200,030
up €200,030 (+15.9%), from €1.3m to €1.5m
- Current portion of long-term debt -€54,212
down €54,212 (-57.8%), from €93,829 to €39,617
Income statement
- Purchases and services +€3.5m
new in 2025: €3.5m
- Gross operating margin +€406,578
up €406,578 (+18.4%), from €2.2m to €2.6m
- Taxes +€72,136
up €72,136 (+32.0%), from €225,293 to €297,429
- Staff costs +€69,190
up €69,190 (+5.5%), from €1.2m to €1.3m
- Other operating charges +€60,634
up €60,634 (+462.0%), from €13,125 to €73,759
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
€630,557
Gross operating margin
+€406,578
Staff costs
-€69,190
Depreciation
+€11,511
Other operating charges
-€60,634
Financial income
-€7,242
Financial charges
-€5,636
Taxes
-€72,136
Result 2025
€833,807
Cash bridge derived
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
+€1.5m
Investment
-€103,899
Financing
-€844,054
Cash 2024
€497,858
From operations (derived)
+€1.5m
Net result for the year
+€833,807
Depreciation
+€87,378
Stocks and contracts
-€6,892
Receivables within one year
+€539,529
Deferred charges and accrued income
+€1,698
Trade debts
-€206,133
Tax, wage and social debts
+€16,234
Other debts
+€200,030
Accrued charges and deferred income
-€13,178
Investment (derived)
-€103,899
Investment in fixed assets (net)
-€103,899
Financing
-€844,054
Debts after one year
+€12,303
Current portion of long-term debt
-€54,212
Short-term financial debts
-€164
Contributions, distributions and other
-€801,981
Cash 2025
€1.0m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,880,597 | €3,867,304 | -€13,293 | -0.3% |
| Fixed assets | 21/28 | €793,991 | €810,512 | +€16,521 | +2.1% |
| Tangible fixed assets | 22/27 | €714,976 | €731,497 | +€16,521 | +2.3% |
| Land and buildings | 22 | €523,610 | €505,373 | -€18,237 | -3.5% |
| Plant, machinery and equipment | 23 | €19,273 | €16,224 | -€3,049 | -15.8% |
| Furniture and vehicles | 24 | €172,093 | €209,900 | +€37,807 | +22.0% |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Financial fixed assets | 28 | €79,015 | €79,015 | = | 0.0% |
| Current assets | 29/58 | €3,086,606 | €3,056,792 | -€29,814 | -1.0% |
| Stocks and contracts in progress | 3 | €275,427 | €282,319 | +€6,892 | +2.5% |
| Stocks | 30/36 | €275,427 | €282,319 | +€6,892 | +2.5% |
| Amounts receivable within one year | 40/41 | €2,272,298 | €1,732,769 | -€539,529 | -23.7% |
| Trade receivables | 40 | €2,181,286 | €1,628,069 | -€553,217 | -25.4% |
| Other amounts receivable | 41 | €91,012 | €104,700 | +€13,688 | +15.0% |
| Cash at bank and in hand | 54/58 | €497,858 | €1,002,379 | +€504,521 | +101.3% |
| Deferred charges and accrued income | 490/1 | €41,023 | €39,325 | -€1,698 | -4.1% |
| Total equity and liabilities | 10/49 | €3,880,597 | €3,867,304 | -€13,293 | -0.3% |
| Equity | 10/15 | €1,630,764 | €1,662,590 | +€31,826 | +2.0% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | €1,500,000 | €1,500,000 | = | 0.0% |
| Distributable reserves | 133 | €1,500,000 | €1,500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €44,606 | €78,413 | +€33,807 | +75.8% |
| Investment grants | 15 | €46,158 | €44,177 | -€1,981 | -4.3% |
| Amounts payable | 17/49 | €2,249,833 | €2,204,714 | -€45,119 | -2.0% |
| Amounts payable after more than one year | 17 | €35,505 | €47,808 | +€12,303 | +34.7% |
| Financial debts | 170/4 | €35,505 | €47,808 | +€12,303 | +34.7% |
| Amounts payable within one year | 42/48 | €2,195,535 | €2,151,290 | -€44,245 | -2.0% |
| Current portion of amounts payable after more than one year | 42 | €93,829 | €39,617 | -€54,212 | -57.8% |
| Financial debts | 43 | €51,062 | €50,898 | -€164 | -0.3% |
| Credit institutions | 430/8 | €51,062 | €50,898 | -€164 | -0.3% |
| Trade debts | 44 | €687,312 | €481,179 | -€206,133 | -30.0% |
| Suppliers | 440/4 | €687,312 | €481,179 | -€206,133 | -30.0% |
| Taxes, remuneration and social security | 45 | €104,286 | €120,520 | +€16,234 | +15.6% |
| Taxes | 450/3 | €35,621 | €78,722 | +€43,101 | +121.0% |
| Remuneration and social security | 454/9 | €68,665 | €41,798 | -€26,867 | -39.1% |
| Other amounts payable | 47/48 | €1,259,046 | €1,459,076 | +€200,030 | +15.9% |
| Accrued charges and deferred income | 492/3 | €18,793 | €5,615 | -€13,178 | -70.1% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €3,491,993 | +€3.5m | |
| Remuneration, social security and pensions | 62 | €1,248,453 | €1,317,643 | +€69,190 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,889 | €87,378 | -€11,511 | -11.6% |
| Other operating charges | 640/8 | €13,125 | €73,759 | +€60,634 | +462.0% |
| Gross operating margin | 9900 | €2,205,694 | €2,612,272 | +€406,578 | +18.4% |
| Operating profit (loss) | 9901 | €845,227 | €1,133,491 | +€288,264 | +34.1% |
| Financial income | 75/76B | €19,728 | €12,486 | -€7,242 | -36.7% |
| Recurring financial income | 75 | €19,728 | €12,486 | -€7,242 | -36.7% |
| Financial charges | 65/66B | €9,105 | €14,741 | +€5,636 | +61.9% |
| Recurring financial charges | 65 | €9,105 | €14,741 | +€5,636 | +61.9% |
| Profit (loss) for the period before taxes | 9903 | €855,850 | €1,131,236 | +€275,386 | +32.2% |
| Income taxes | 67/77 | €225,293 | €297,429 | +€72,136 | +32.0% |
| Profit (loss) for the period | 9904 | €630,557 | €833,807 | +€203,250 | +32.2% |
| Profit (loss) for the period to be appropriated | 9905 | €630,557 | €833,807 | +€203,250 | +32.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.