4MAX: 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.
4MAX
Largest movements
- Tangible fixed assets +€68,026
up €68,026 (+2490.0%), from €2,732 to €70,758
- Cash +€40,091
up €40,091 (+55.6%), from €72,090 to €112,181
mainly Net result for the year (+€107,816) and Tax, wage and social debts (+€26,702)
- Receivables within one year +€31,946
up €31,946 (+158.9%), from €20,102 to €52,048
of which Other amounts receivable: +€37,569
- Profit (loss) carried forward +€107,816
up €107,816 (+131.0%), from €82,275 to €190,091
- Trade debts -€28,124
down €28,124 (-91.9%), from €30,618 to €2,495
- Tax, wage and social debts +€26,702
up €26,702 (+128.5%), from €20,781 to €47,483
- Debts after one year +€25,456
new in 2024: €25,456
- Current portion of long-term debt +€8,212
new in 2024: €8,212
- Gross operating margin +€38,720
up €38,720 (+38.1%), from €101,570 to €140,290
- Taxes +€6,156
up €6,156 (+29.6%), from €20,781 to €26,937
- Depreciation +€5,641
up €5,641 (+1533.0%), from €368 to €6,009
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €135,175 | €275,237 | +€140,062 | +103.6% |
| Fixed assets | 21/28 | €2,732 | €70,758 | +€68,026 | +2490.0% |
| Tangible fixed assets | 22/27 | €2,732 | €70,758 | +€68,026 | +2490.0% |
| Furniture and vehicles | 24 | €2,732 | €70,758 | +€68,026 | +2490.0% |
| Current assets | 29/58 | €132,443 | €204,479 | +€72,037 | +54.4% |
| Amounts receivable after more than one year | 29 | €40,250 | €40,250 | = | 0.0% |
| Other amounts receivable | 291 | €40,250 | €40,250 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €20,102 | €52,048 | +€31,946 | +158.9% |
| Trade receivables | 40 | €19,643 | €14,020 | -€5,623 | -28.6% |
| Other amounts receivable | 41 | €459 | €38,028 | +€37,569 | +8186.8% |
| Cash at bank and in hand | 54/58 | €72,090 | €112,181 | +€40,091 | +55.6% |
| Total equity and liabilities | 10/49 | €135,175 | €275,237 | +€140,062 | +103.6% |
| Equity | 10/15 | €83,775 | €191,591 | +€107,816 | +128.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €82,275 | €190,091 | +€107,816 | +131.0% |
| Amounts payable | 17/49 | €51,399 | €83,646 | +€32,247 | +62.7% |
| Amounts payable after more than one year | 17 | - | €25,456 | +€25,456 | |
| Financial debts | 170/4 | - | €25,456 | +€25,456 | |
| Amounts payable within one year | 42/48 | €51,399 | €58,190 | +€6,791 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | - | €8,212 | +€8,212 | |
| Trade debts | 44 | €30,618 | €2,495 | -€28,124 | -91.9% |
| Suppliers | 440/4 | €30,618 | €2,495 | -€28,124 | -91.9% |
| Taxes, remuneration and social security | 45 | €20,781 | €47,483 | +€26,702 | +128.5% |
| Taxes | 450/3 | €20,781 | €47,483 | +€26,702 | +128.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €368 | €6,009 | +€5,641 | +1533.0% |
| Other operating charges | 640/8 | - | €300 | +€300 | |
| Gross operating margin | 9900 | €101,570 | €140,290 | +€38,720 | +38.1% |
| Operating profit (loss) | 9901 | €101,202 | €133,981 | +€32,779 | +32.4% |
| Financial income | 75/76B | €1,905 | €1,145 | -€759 | -39.9% |
| Recurring financial income | 75 | €1,905 | €1,145 | -€759 | -39.9% |
| Financial charges | 65/66B | €50 | €373 | +€322 | +641.0% |
| Recurring financial charges | 65 | €50 | €373 | +€322 | +641.0% |
| Profit (loss) for the period before taxes | 9903 | €103,056 | €134,753 | +€31,697 | +30.8% |
| Income taxes | 67/77 | €20,781 | €26,937 | +€6,156 | +29.6% |
| Profit (loss) for the period | 9904 | €82,275 | €107,816 | +€25,540 | +31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €82,275 | €107,816 | +€25,540 | +31.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.