Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 32 % of short-term debt in 2025; threshold 65 %.
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Shrinking team NBB
FTE fell two years in a row, from 10.1 to 7.4.
Financials
Financial year 2025
4 Makers from Ieper, company number BE0687850160, closed financial year 2025 with a result of € -63,491 after tax. For that financial year 4 Makers recorded a gross margin of € 649,522 and equity of € 411,637. Compared with financial year 2024, the result moved from € 45,567 to € -63,491. The company made a loss. The company holds a healthy buffer. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 13, 2026.
€ 411,637
▼ 13% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -63,491
▼ still € 45,567 profit in 2024
Profit after tax over the fiscal year.
€ 133,803
▼ 2% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 11,637.
People and assets in 2025
7.4
▼ 1.9 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 531,316
▼ 8% vs 2024
€ 71,800 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 9,292
▼ 71% vs 2024
Of which on lease € 7,141.
Debts at end 2025
€ 469,418
▼ 38% vs 2024
€ 139,168 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 149,194
▼ 46% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 253,383
▲ 10% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 598,405 | € 854,600 | € 900,193 | € 649,522 | ▼ 28% |
| Profit after taxes | € -197,675 | € -2,061 | € 45,567 | € -63,491 | ▼ € 109,058 |
| Equity | € 431,622 | € 429,560 | € 475,127 | € 411,637 | ▼ 13% |
| Total debts | € 2,233,810 | € 1,796,092 | € 1,454,547 | € 1,085,711 | ▼ 25% |
| Cash | € 166,295 | € 63,045 | € 136,093 | € 133,803 | ▼ 2% |
| Land & buildings | € 1,446,644 | € 1,339,475 | € 1,035,947 | € 786,556 | ▼ 24% |
| Retained profit | € 31,622 | € 29,560 | € 75,127 | € 11,637 | ▼ 85% |
| Bank debt | € 1,677,263 | € 1,293,331 | € 754,036 | € 469,418 | ▼ 38% |
| Balance sheet total | € 2,691,980 | € 2,249,243 | € 1,950,321 | € 1,515,048 | ▼ 22% |
| Employees (FTE) | 11.8 | 10.1 | 9.3 | 7.4 | ▼ 1.9 |
Key figures of 4 Makers, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to 4 Makers?
What happened at 4 Makers in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 63,491 (▼ € 109,058 vs 2024). Source: NBB ↗
- Ing. Koen Mulier BV became a director. NBB
- Stella BV became a director. NBB
- New establishment in Ieper. KBO
- New establishment in Kortrijk. KBO
- Start of the company according to the CBE. KBO
In short
From € 197,675 loss in 2022 to € 63,491 loss in 2025.
Paid € 232,856 in corporate taxes since 2022.
Best year ever: 2024, with € 45,567 profit.
On average € 87,800 of value added per employee in 2025.
Management
The stake of Ing. KOEN MULIER comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
4 MakersBehind 4 Makers are Ing. Koen Mulier BV and Stella BV. The shares are held by Ing. KOEN MULIER (50%).
Directors
According to the 2025 annual accounts
Director · represented by Koen Mulier
since 2019
Director · represented by Peter Caset
Also active at: GHENT DREDGING, V.B.I., Theo Coertjens International, ANNA PAULOWNA, Robur Capital, STACHEL, Steenoven Development Fund, Oengerengoeste +16 more
since 2019
Shareholders
50%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Zonnebeekseweg 2
8900 Ieper
Pottelberg(Kor) 114
8500 Kortrijk
Active since 11 January 2018
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0687.850.160
- VAT number
- BE 0687.850.160
- Registered office
- Zonnebeekseweg 2, 8900 Ieper
- Names & denominations
- 4 Makers
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 11 January 2018
- Peppol
- Active · Active since 21 Oct 2026
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