4M 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.
4M Holding
Largest movements
- Current investments -€1.0m
no longer reported in 2025 (was €1.0m)
- Receivables within one year +€115,786
up €115,786 (+66,866%), from €173 to €115,959
of which Trade receivables: +€115,959
- Cash -€98,916
down €98,916 (-29.5%), from €335,089 to €236,173
mainly Debts after one year (-€1.5m) and Current portion of long-term debt (-€431,906)
- Debts after one year -€1.5m
no longer reported in 2025 (was €1.5m)
- Profit (loss) carried forward +€1.1m
up €1.1m (+30.3%), from €3.5m to €4.6m
- Current portion of long-term debt -€431,906
no longer reported in 2025 (was €431,906)
- Other debts -€127,568
down €127,568 (-24.2%), from €527,568 to €400,000
- Gross operating margin +€99,767
up €99,767 (+25.4%), from €392,373 to €492,140
- Financial income -€8,842
down €8,842 (-0.9%), from €1.0m to €1.0m
- Financial charges -€5,832
down €5,832 (-71.4%), from €8,167 to €2,334
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 | €6,808,740 | €5,825,610 | -€983,130 | -14.4% |
| Fixed assets | 21/28 | €5,473,477 | €5,473,477 | = | 0.0% |
| Financial fixed assets | 28 | €5,473,477 | €5,473,477 | = | 0.0% |
| Current assets | 29/58 | €1,335,263 | €352,132 | -€983,130 | -73.6% |
| Amounts receivable within one year | 40/41 | €173 | €115,959 | +€115,786 | +66,866% |
| Trade receivables | 40 | - | €115,959 | +€115,959 | |
| Other amounts receivable | 41 | €173 | - | -€173 | |
| Current investments | 50/53 | €1,000,000 | - | -€1.0m | |
| Cash at bank and in hand | 54/58 | €335,089 | €236,173 | -€98,916 | -29.5% |
| Total equity and liabilities | 10/49 | €6,808,740 | €5,825,610 | -€983,130 | -14.4% |
| Equity | 10/15 | €4,313,709 | €5,388,428 | +€1.1m | +24.9% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €666,904 | €666,904 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €656,904 | €656,904 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,546,804 | €4,621,523 | +€1.1m | +30.3% |
| Amounts payable | 17/49 | €2,495,031 | €437,182 | -€2.1m | -82.5% |
| Amounts payable after more than one year | 17 | €1,500,000 | - | -€1.5m | |
| Other amounts payable | 178/9 | €1,500,000 | - | -€1.5m | |
| Amounts payable within one year | 42/48 | €995,031 | €437,182 | -€557,849 | -56.1% |
| Current portion of amounts payable after more than one year | 42 | €431,906 | - | -€431,906 | |
| Taxes, remuneration and social security | 45 | €35,557 | €37,182 | +€1,624 | +4.6% |
| Taxes | 450/3 | €35,557 | €37,182 | +€1,624 | +4.6% |
| Other amounts payable | 47/48 | €527,568 | €400,000 | -€127,568 | -24.2% |
| Other operating charges | 640/8 | €968 | €998 | +€31 | +3.2% |
| Gross operating margin | 9900 | €392,373 | €492,140 | +€99,767 | +25.4% |
| Operating profit (loss) | 9901 | €391,406 | €491,142 | +€99,736 | +25.5% |
| Financial income | 75/76B | €1,019,657 | €1,010,815 | -€8,842 | -0.9% |
| Recurring financial income | 75 | €1,019,657 | €1,010,815 | -€8,842 | -0.9% |
| Financial charges | 65/66B | €8,167 | €2,334 | -€5,832 | -71.4% |
| Recurring financial charges | 65 | €8,167 | €2,334 | -€5,832 | -71.4% |
| Profit (loss) for the period before taxes | 9903 | €1,402,896 | €1,499,622 | +€96,726 | +6.9% |
| Income taxes | 67/77 | €25,724 | €24,903 | -€821 | -3.2% |
| Profit (loss) for the period | 9904 | €1,377,172 | €1,474,719 | +€97,547 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €1,377,172 | €1,474,719 | +€97,547 | +7.1% |
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 14 October 2026 via checked.be.