Iron M4D: 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.
Iron M4D
Largest movements
- Cash -€49,362
down €49,362 (-57.1%), from €86,424 to €37,061
mainly Contributions, distributions and other (-€53,586) and Tax, wage and social debts (-€39,432)
- Tangible fixed assets +€14,130
up €14,130 (+44.5%), from €31,779 to €45,909
of which Plant, machinery and equipment: +€13,612
- Receivables within one year +€8,240
up €8,240 (+42.0%), from €19,632 to €27,872
of which Other amounts receivable: +€7,637
- Tax, wage and social debts -€39,432
down €39,432 (-100.0%), from €39,435 to €3
of which Taxes: -€39,252
- Other debts +€7,454
up €7,454 (+8.4%), from €88,397 to €95,851
- Trade debts +€4,931
up €4,931 (+123%), from €4,014 to €8,945
- Gross operating margin -€37,153
down €37,153 (-32.2%), from €115,454 to €78,301
- Taxes -€9,026
down €9,026 (-39.9%), from €22,598 to €13,572
- Depreciation +€3,664
up €3,664 (+57.2%), from €6,407 to €10,070
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 | €140,550 | €113,280 | -€27,269 | -19.4% |
| Fixed assets | 21/28 | €31,779 | €45,909 | +€14,130 | +44.5% |
| Tangible fixed assets | 22/27 | €31,779 | €45,909 | +€14,130 | +44.5% |
| Plant, machinery and equipment | 23 | €2,073 | €15,684 | +€13,612 | +657% |
| Furniture and vehicles | 24 | €29,707 | €30,225 | +€518 | +1.7% |
| Current assets | 29/58 | €108,770 | €67,371 | -€41,399 | -38.1% |
| Amounts receivable within one year | 40/41 | €19,632 | €27,872 | +€8,240 | +42.0% |
| Trade receivables | 40 | €10,500 | €11,103 | +€603 | +5.7% |
| Other amounts receivable | 41 | €9,132 | €16,769 | +€7,637 | +83.6% |
| Cash at bank and in hand | 54/58 | €86,424 | €37,061 | -€49,362 | -57.1% |
| Deferred charges and accrued income | 490/1 | €2,715 | €2,438 | -€276 | -10.2% |
| Total equity and liabilities | 10/49 | €140,550 | €113,280 | -€27,269 | -19.4% |
| Equity | 10/15 | €8,482 | €8,482 | = | 0.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €6,482 | €6,482 | = | 0.0% |
| Distributable reserves | 133 | €6,482 | €6,482 | = | 0.0% |
| Amounts payable | 17/49 | €132,068 | €104,799 | -€27,269 | -20.6% |
| Amounts payable within one year | 42/48 | €131,845 | €104,799 | -€27,046 | -20.5% |
| Trade debts | 44 | €4,014 | €8,945 | +€4,931 | +123% |
| Suppliers | 440/4 | €4,014 | €8,945 | +€4,931 | +123% |
| Taxes, remuneration and social security | 45 | €39,435 | €3 | -€39,432 | -100.0% |
| Taxes | 450/3 | €39,255 | €3 | -€39,252 | -100.0% |
| Remuneration and social security | 454/9 | €180 | - | -€180 | |
| Other amounts payable | 47/48 | €88,397 | €95,851 | +€7,454 | +8.4% |
| Accrued charges and deferred income | 492/3 | €223 | - | -€223 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,407 | €10,070 | +€3,664 | +57.2% |
| Other operating charges | 640/8 | €1,464 | €693 | -€771 | -52.7% |
| Gross operating margin | 9900 | €115,454 | €78,301 | -€37,153 | -32.2% |
| Operating profit (loss) | 9901 | €107,584 | €67,537 | -€40,046 | -37.2% |
| Financial income | 75/76B | €1 | €94 | +€93 | +16,057% |
| Recurring financial income | 75 | €1 | €94 | +€93 | +16,057% |
| Financial charges | 65/66B | €721 | €474 | -€247 | -34.3% |
| Recurring financial charges | 65 | €721 | €474 | -€247 | -34.3% |
| Profit (loss) for the period before taxes | 9903 | €106,863 | €67,157 | -€39,706 | -37.2% |
| Income taxes | 67/77 | €22,598 | €13,572 | -€9,026 | -39.9% |
| Profit (loss) for the period | 9904 | €84,265 | €53,586 | -€30,680 | -36.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,265 | €53,586 | -€30,680 | -36.4% |
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 24 October 2026 via checked.be.