4M-Fire: what changed
What changed
4M-Fire
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
filed annual accounts (NBB)
Net result for the year
€97,160
2024 · €92,430+€4,730
Equity
€890,044
2024 · €792,885+€97,160
Cash
€177,326
2024 · €378,968-€201,642
Balance sheet total
€2.5m
2024 · €1.1m+€1.4m
Largest movements
Assets
- Financial fixed assets +€1.6m
up €1.6m (+19,735%), from €8,000 to €1.6m
- Cash -€201,642
down €201,642 (-53.2%), from €378,968 to €177,326
mainly Investment in fixed assets (net) (-€1.6m) and Stocks and contracts (-€42,225)
- Tangible fixed assets -€44,770
down €44,770 (-23.3%), from €192,397 to €147,627
of which Furniture and vehicles: -€30,419
- Stocks and contracts +€42,225
up €42,225 (+8.9%), from €474,101 to €516,326
Equity and liabilities
- Current portion of long-term debt +€1.3m
up €1.3m (+2,165%), from €58,580 to €1.3m
- Reserves +€97,000
up €97,000 (+12.4%), from €779,855 to €876,855
of which Distributable reserves: +€97,000
- Accrued charges and deferred income +€50,900
up €50,900 (+145%), from €35,000 to €85,900
- Debts after one year -€42,025
down €42,025 (-49.8%), from €84,401 to €42,376
Income statement
- Gross operating margin +€24,641
up €24,641 (+3.8%), from €651,300 to €675,940
- Staff costs +€23,420
up €23,420 (+5.3%), from €443,632 to €467,052
- Other operating charges -€17,815
down €17,815 (-89.1%), from €20,003 to €2,188
- Provisions +€13,141
up €13,141, from -€11,410 to €1,731
- Taxes +€8,967
up €8,967 (+34.6%), from €25,934 to €34,901
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
€92,430
Gross operating margin
+€24,641
Staff costs
-€23,420
Depreciation
+€3,843
Provisions
-€13,141
Other operating charges
+€17,815
Financial income
+€609
Financial charges
+€3,350
Taxes
-€8,967
Result 2025
€97,160
raises the resultlowers the result
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
+€177,886
Investment
-€1.6m
Financing
+€1.2m
Cash 2024
€378,968
From operations (derived)
+€177,886
Net result for the year
+€97,160
Depreciation
+€71,439
Stocks and contracts
-€42,225
Receivables within one year
+€17,322
Smaller working-capital items
+€1,039
Trade debts
-€17,121
Tax, wage and social debts
+€7,749
Other debts
-€8,377
Accrued charges and deferred income
+€50,900
Investment (derived)
-€1.6m
Investment in fixed assets (net)
-€1.6m
Financing
+€1.2m
Debts after one year
-€42,025
Current portion of long-term debt
+€1.3m
Short-term financial debts
-€542
Cash 2025
€177,326
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,120,698 | €2,478,712 | +€1.4m | +121% |
| Fixed assets | 21/28 | €200,397 | €1,734,458 | +€1.5m | +766% |
| Tangible fixed assets | 22/27 | €192,397 | €147,627 | -€44,770 | -23.3% |
| Plant, machinery and equipment | 23 | €26,203 | €18,181 | -€8,022 | -30.6% |
| Furniture and vehicles | 24 | €152,122 | €121,703 | -€30,419 | -20.0% |
| Other tangible fixed assets | 26 | €14,072 | €7,744 | -€6,328 | -45.0% |
| Financial fixed assets | 28 | €8,000 | €1,586,831 | +€1.6m | +19,735% |
| Current assets | 29/58 | €920,301 | €744,254 | -€176,047 | -19.1% |
| Stocks and contracts in progress | 3 | €474,101 | €516,326 | +€42,225 | +8.9% |
| Stocks | 30/36 | €474,101 | €516,326 | +€42,225 | +8.9% |
| Amounts receivable within one year | 40/41 | €33,899 | €16,578 | -€17,322 | -51.1% |
| Trade receivables | 40 | €22,754 | €14,396 | -€8,358 | -36.7% |
| Other amounts receivable | 41 | €11,146 | €2,182 | -€8,963 | -80.4% |
| Cash at bank and in hand | 54/58 | €378,968 | €177,326 | -€201,642 | -53.2% |
| Deferred charges and accrued income | 490/1 | €33,333 | €34,024 | +€692 | +2.1% |
| Total equity and liabilities | 10/49 | €1,120,698 | €2,478,712 | +€1.4m | +121% |
| Equity | 10/15 | €792,885 | €890,044 | +€97,160 | +12.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €779,855 | €876,855 | +€97,000 | +12.4% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €778,000 | €875,000 | +€97,000 | +12.5% |
| Profit (loss) carried forward | 14 | €630 | €789 | +€160 | +25.4% |
| Provisions and deferred taxes | 16 | €22,336 | €24,067 | +€1,731 | +7.7% |
| Provisions for liabilities and charges | 160/5 | €22,336 | €24,067 | +€1,731 | +7.7% |
| Other liabilities and charges | 164/5 | €22,336 | €24,067 | +€1,731 | +7.7% |
| Amounts payable | 17/49 | €305,477 | €1,564,601 | +€1.3m | +412% |
| Amounts payable after more than one year | 17 | €84,401 | €42,376 | -€42,025 | -49.8% |
| Financial debts | 170/4 | €84,401 | €42,376 | -€42,025 | -49.8% |
| Amounts payable within one year | 42/48 | €186,076 | €1,436,325 | +€1.3m | +672% |
| Current portion of amounts payable after more than one year | 42 | €58,580 | €1,327,120 | +€1.3m | +2,165% |
| Financial debts | 43 | €894 | €352 | -€542 | -60.6% |
| Credit institutions | 430/8 | €894 | €352 | -€542 | -60.6% |
| Trade debts | 44 | €88,032 | €70,911 | -€17,121 | -19.4% |
| Suppliers | 440/4 | €88,032 | €70,911 | -€17,121 | -19.4% |
| Taxes, remuneration and social security | 45 | €29,977 | €37,726 | +€7,749 | +25.9% |
| Taxes | 450/3 | €0 | €4,271 | +€4,271 | |
| Remuneration and social security | 454/9 | €29,977 | €33,455 | +€3,478 | +11.6% |
| Other amounts payable | 47/48 | €8,593 | €217 | -€8,377 | -97.5% |
| Accrued charges and deferred income | 492/3 | €35,000 | €85,900 | +€50,900 | +145% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €443,632 | €467,052 | +€23,420 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,282 | €71,439 | -€3,843 | -5.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€11,410 | €1,731 | +€13,141 | |
| Other operating charges | 640/8 | €20,003 | €2,188 | -€17,815 | -89.1% |
| Gross operating margin | 9900 | €651,300 | €675,940 | +€24,641 | +3.8% |
| Operating profit (loss) | 9901 | €123,793 | €133,531 | +€9,738 | +7.9% |
| Financial income | 75/76B | €5,964 | €6,573 | +€609 | +10.2% |
| Recurring financial income | 75 | €5,964 | €6,573 | +€609 | +10.2% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €11,393 | €8,043 | -€3,350 | -29.4% |
| Recurring financial charges | 65 | €11,393 | €8,043 | -€3,350 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €118,364 | €132,061 | +€13,697 | +11.6% |
| Income taxes | 67/77 | €25,934 | €34,901 | +€8,967 | +34.6% |
| Profit (loss) for the period | 9904 | €92,430 | €97,160 | +€4,730 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €92,430 | €97,160 | +€4,730 | +5.1% |
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 2 November 2026 via checked.be.