4MACS: 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.
4MACS
Largest movements
- Cash +€39,985
up €39,985 (+213.2%), from €18,756 to €58,740
mainly Net result for the year (+€42,525) and Current investments (+€25,000)
- Current investments -€25,000
down €25,000 (-100.0%), from €25,000 to €0
- Receivables within one year +€15,070
up €15,070 (+305.8%), from €4,928 to €19,998
of which Trade receivables: +€15,020
- Tangible fixed assets -€1,145
down €1,145 (-10.6%), from €10,818 to €9,672
- Reserves +€42,525
up €42,525 (+76.5%), from €55,609 to €98,134
- Current portion of long-term debt -€12,916
down €12,916 (-77.2%), from €16,720 to €3,804
- Tax, wage and social debts +€8,634
up €8,634 (+181.1%), from €4,768 to €13,403
of which Taxes: +€8,229
- Other debts -€6,738
down €6,738 (-17.8%), from €37,791 to €31,053
- Trade debts -€2,531
down €2,531 (-98.1%), from €2,579 to €49
No income-statement line moved by more than 1% of the activity.
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,647 | €88,578 | +€28,931 | +48.5% |
| Fixed assets | 21/28 | €10,818 | €9,672 | -€1,145 | -10.6% |
| Tangible fixed assets | 22/27 | €10,818 | €9,672 | -€1,145 | -10.6% |
| Furniture and vehicles | 24 | €10,818 | €9,672 | -€1,145 | -10.6% |
| Current assets | 29/58 | €48,830 | €78,906 | +€30,076 | +61.6% |
| Amounts receivable within one year | 40/41 | €4,928 | €19,998 | +€15,070 | +305.8% |
| Trade receivables | 40 | €0 | €15,020 | +€15,020 | |
| Other amounts receivable | 41 | €4,928 | €4,978 | +€50 | +1.0% |
| Current investments | 50/53 | €25,000 | €0 | -€25,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €18,756 | €58,740 | +€39,985 | +213.2% |
| Deferred charges and accrued income | 490/1 | €146 | €168 | +€22 | +15.2% |
| Total equity and liabilities | 10/49 | €59,647 | €88,578 | +€28,931 | +48.5% |
| Equity | 10/15 | -€2,255 | €40,270 | +€42,525 | |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €55,609 | €98,134 | +€42,525 | +76.5% |
| Distributable reserves | 133 | €55,609 | €98,134 | +€42,525 | +76.5% |
| Profit (loss) carried forward | 14 | -€82,653 | -€82,653 | = | 0.0% |
| Amounts payable | 17/49 | €61,902 | €48,309 | -€13,594 | -22.0% |
| Amounts payable within one year | 42/48 | €61,859 | €48,309 | -€13,550 | -21.9% |
| Current portion of amounts payable after more than one year | 42 | €16,720 | €3,804 | -€12,916 | -77.2% |
| Trade debts | 44 | €2,579 | €49 | -€2,531 | -98.1% |
| Suppliers | 440/4 | €2,579 | €49 | -€2,531 | -98.1% |
| Taxes, remuneration and social security | 45 | €4,768 | €13,403 | +€8,634 | +181.1% |
| Taxes | 450/3 | €3,282 | €11,511 | +€8,229 | +250.7% |
| Remuneration and social security | 454/9 | €1,486 | €1,892 | +€405 | +27.3% |
| Other amounts payable | 47/48 | €37,791 | €31,053 | -€6,738 | -17.8% |
| Accrued charges and deferred income | 492/3 | €44 | €0 | -€44 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €635 | €1,145 | +€510 | +80.3% |
| Other operating charges | 640/8 | €592 | €736 | +€145 | +24.5% |
| Gross operating margin | 9900 | €68,538 | €68,645 | +€107 | +0.2% |
| Operating profit (loss) | 9901 | €67,311 | €66,763 | -€548 | -0.8% |
| Financial income | 75/76B | €146 | €554 | +€408 | +280.0% |
| Recurring financial income | 75 | €146 | €554 | +€408 | +280.0% |
| Financial charges | 65/66B | €4,064 | €4,361 | +€297 | +7.3% |
| Recurring financial charges | 65 | €4,064 | €4,361 | +€297 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | €63,394 | €62,957 | -€437 | -0.7% |
| Income taxes | 67/77 | €20,265 | €20,432 | +€167 | +0.8% |
| Profit (loss) for the period | 9904 | €43,129 | €42,525 | -€604 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,129 | €42,525 | -€604 | -1.4% |
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 10 October 2026 via checked.be.