B4M: 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.
What changed
B4M
NACE 70.200, Business and other management consultancy
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€239,558
2024 · -€87,824+€327,381
Equity
€3.9m
2024 · €3.7m+€239,558
Cash
€146,585
2024 · €114,749+€31,836
Balance sheet total
€5.1m
2024 · €4.9m+€238,474
Largest movements
Assets
- Financial fixed assets +€250,860
up €250,860 (+23.4%), from €1.1m to €1.3m
- Receivables after one year +€103,392
up €103,392, from €0 to €103,392
- Tangible fixed assets -€72,089
down €72,089 (-6.6%), from €1.1m to €1.0m
of which Land and buildings: -€48,063
Equity and liabilities
- Reserves +€239,558
up €239,558 (+13.8%), from €1.7m to €2.0m
- Other debts +€64,479
up €64,479 (+507.1%), from €12,715 to €77,194
Income statement
- Financial income +€332,560
up €332,560 (+203.5%), from €163,423 to €495,982
- Gross operating margin +€53,549
up €53,549 (+38.4%), from -€139,395 to -€85,846
- Other operating charges +€38,024
up €38,024 (+1116.9%), from €3,404 to €41,428
- Taxes +€24,021
up €24,021 (+9212.6%), from €261 to €24,282
- Depreciation -€8,042
down €8,042 (-8.1%), from €99,164 to €91,122
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
-€87,824
Gross operating margin
+€53,549
Depreciation
+€8,042
Other operating charges
-€38,024
Financial income
+€332,560
Financial charges
-€4,724
Taxes
-€24,021
Result 2025
€239,558
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
+€302,127
Investment
-€231,318
Financing
-€38,973
Cash 2024
€114,749
From operations (derived)
+€302,127
Net result for the year
+€239,558
Depreciation
+€91,122
Receivables after one year
-€103,392
Receivables within one year
+€42,593
Deferred charges and accrued income
-€5,643
Trade debts
-€44,703
Tax, wage and social debts
+€14,591
Other debts
+€64,479
Accrued charges and deferred income
+€3,522
Investment (derived)
-€231,318
Investment in fixed assets (net)
-€269,893
Current investments
+€38,575
Financing
-€38,973
Debts after one year
-€24,452
Current portion of long-term debt
-€14,520
Cash 2025
€146,585
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,884,702 | €5,123,176 | +€238,474 | +4.9% |
| Fixed assets | 21/28 | €2,157,172 | €2,335,942 | +€178,771 | +8.3% |
| Tangible fixed assets | 22/27 | €1,087,338 | €1,015,249 | -€72,089 | -6.6% |
| Land and buildings | 22 | €954,748 | €906,685 | -€48,063 | -5.0% |
| Plant, machinery and equipment | 23 | €24,101 | €12,719 | -€11,382 | -47.2% |
| Furniture and vehicles | 24 | €47,983 | €26,263 | -€21,721 | -45.3% |
| Other tangible fixed assets | 26 | €60,505 | €69,582 | +€9,077 | +15.0% |
| Financial fixed assets | 28 | €1,069,834 | €1,320,694 | +€250,860 | +23.4% |
| Current assets | 29/58 | €2,727,531 | €2,787,234 | +€59,703 | +2.2% |
| Amounts receivable after more than one year | 29 | €0 | €103,392 | +€103,392 | |
| Other amounts receivable | 291 | €0 | €103,392 | +€103,392 | |
| Amounts receivable within one year | 40/41 | €235,041 | €192,449 | -€42,593 | -18.1% |
| Trade receivables | 40 | €57,420 | €54,788 | -€2,632 | -4.6% |
| Other amounts receivable | 41 | €177,622 | €137,661 | -€39,960 | -22.5% |
| Current investments | 50/53 | €2,375,514 | €2,336,939 | -€38,575 | -1.6% |
| Cash at bank and in hand | 54/58 | €114,749 | €146,585 | +€31,836 | +27.7% |
| Deferred charges and accrued income | 490/1 | €2,227 | €7,869 | +€5,643 | +253.4% |
| Total equity and liabilities | 10/49 | €4,884,702 | €5,123,176 | +€238,474 | +4.9% |
| Equity | 10/15 | €3,709,572 | €3,949,129 | +€239,558 | +6.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,735,470 | €1,975,028 | +€239,558 | +13.8% |
| Distributable reserves | 133 | €1,735,470 | €1,975,028 | +€239,558 | +13.8% |
| Profit (loss) carried forward | 14 | €1,955,502 | €1,955,502 | = | 0.0% |
| Amounts payable | 17/49 | €1,175,130 | €1,174,047 | -€1,084 | -0.1% |
| Amounts payable after more than one year | 17 | €1,061,024 | €1,036,572 | -€24,452 | -2.3% |
| Financial debts | 170/4 | €211,024 | €186,572 | -€24,452 | -11.6% |
| Other amounts payable | 178/9 | €850,000 | €850,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €112,056 | €131,902 | +€19,847 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €38,973 | €24,452 | -€14,520 | -37.3% |
| Trade debts | 44 | €57,693 | €12,989 | -€44,703 | -77.5% |
| Suppliers | 440/4 | €57,693 | €12,989 | -€44,703 | -77.5% |
| Taxes, remuneration and social security | 45 | €2,676 | €17,267 | +€14,591 | +545.4% |
| Taxes | 450/3 | €276 | €334 | +€58 | +21.1% |
| Remuneration and social security | 454/9 | €2,400 | €16,933 | +€14,533 | +605.5% |
| Other amounts payable | 47/48 | €12,715 | €77,194 | +€64,479 | +507.1% |
| Accrued charges and deferred income | 492/3 | €2,051 | €5,572 | +€3,522 | +171.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,164 | €91,122 | -€8,042 | -8.1% |
| Other operating charges | 640/8 | €3,404 | €41,428 | +€38,024 | +1116.9% |
| Gross operating margin | 9900 | -€139,395 | -€85,846 | +€53,549 | +38.4% |
| Operating profit (loss) | 9901 | -€241,963 | -€218,396 | +€23,567 | +9.7% |
| Financial income | 75/76B | €163,423 | €495,982 | +€332,560 | +203.5% |
| Recurring financial income | 75 | €163,423 | €495,982 | +€332,560 | +203.5% |
| Financial charges | 65/66B | €9,023 | €13,747 | +€4,724 | +52.4% |
| Recurring financial charges | 65 | €9,023 | €13,747 | +€4,724 | +52.4% |
| Profit (loss) for the period before taxes | 9903 | -€87,563 | €263,839 | +€351,402 | |
| Income taxes | 67/77 | €261 | €24,282 | +€24,021 | +9212.6% |
| Profit (loss) for the period | 9904 | -€87,824 | €239,558 | +€327,381 | |
| Profit (loss) for the period to be appropriated | 9905 | -€87,824 | €239,558 | +€327,381 |
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 11 October 2026 via checked.be.