DE IJSVOGEL: 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.
DE IJSVOGEL
Largest movements
- Tangible fixed assets +€1.1m
up €1.1m (+44.0%), from €2.6m to €3.7m
of which Leasing and similar rights: +€1.1m
- Cash +€370,334
up €370,334 (+1,023%), from €36,199 to €406,533
mainly Current portion of long-term debt (+€775,720) and Debts after one year (+€590,470)
- Current portion of long-term debt +€775,720
up €775,720 (+84.3%), from €919,908 to €1.7m
- Debts after one year +€590,470
up €590,470 (+48.2%), from €1.2m to €1.8m
- Other debts +€301,900
up €301,900 (+719%), from €42,000 to €343,900
- Trade debts -€180,173
down €180,173 (-65.3%), from €275,982 to €95,809
- Profit (loss) carried forward +€50,896
up €50,896 (+13.6%), from €374,205 to €425,101
- Depreciation +€155,871
up €155,871 (+38.4%), from €405,708 to €561,579
- Gross operating margin +€93,412
up €93,412 (+12.0%), from €777,471 to €870,883
- Financial charges +€49,896
up €49,896 (+38.8%), from €128,444 to €178,340
- Taxes -€30,744
down €30,744 (-64.0%), from €48,047 to €17,304
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 | €2,924,941 | €4,471,073 | +€1.5m | +52.9% |
| Fixed assets | 21/28 | €2,593,832 | €3,735,452 | +€1.1m | +44.0% |
| Tangible fixed assets | 22/27 | €2,593,832 | €3,735,452 | +€1.1m | +44.0% |
| Plant, machinery and equipment | 23 | €9,490 | €21,182 | +€11,693 | +123% |
| Furniture and vehicles | 24 | €17,626 | €3,505 | -€14,121 | -80.1% |
| Leasing and similar rights | 25 | €2,566,716 | €3,710,765 | +€1.1m | +44.6% |
| Current assets | 29/58 | €331,109 | €735,621 | +€404,512 | +122% |
| Amounts receivable within one year | 40/41 | €288,958 | €324,044 | +€35,086 | +12.1% |
| Trade receivables | 40 | €185,472 | €233,544 | +€48,073 | +25.9% |
| Other amounts receivable | 41 | €103,486 | €90,499 | -€12,987 | -12.5% |
| Cash at bank and in hand | 54/58 | €36,199 | €406,533 | +€370,334 | +1,023% |
| Deferred charges and accrued income | 490/1 | €5,952 | €5,045 | -€908 | -15.3% |
| Total equity and liabilities | 10/49 | €2,924,941 | €4,471,073 | +€1.5m | +52.9% |
| Equity | 10/15 | €442,405 | €493,301 | +€50,896 | +11.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €374,205 | €425,101 | +€50,896 | +13.6% |
| Amounts payable | 17/49 | €2,482,536 | €3,977,772 | +€1.5m | +60.2% |
| Amounts payable after more than one year | 17 | €1,224,593 | €1,815,063 | +€590,470 | +48.2% |
| Financial debts | 170/4 | €1,224,593 | €1,815,063 | +€590,470 | +48.2% |
| Amounts payable within one year | 42/48 | €1,257,943 | €2,162,708 | +€904,766 | +71.9% |
| Current portion of amounts payable after more than one year | 42 | €919,908 | €1,695,629 | +€775,720 | +84.3% |
| Financial debts | 43 | €0 | €3 | +€3 | |
| Credit institutions | 430/8 | €0 | €3 | +€3 | |
| Trade debts | 44 | €275,982 | €95,809 | -€180,173 | -65.3% |
| Suppliers | 440/4 | €275,982 | €95,809 | -€180,173 | -65.3% |
| Taxes, remuneration and social security | 45 | €20,052 | €27,368 | +€7,316 | +36.5% |
| Taxes | 450/3 | €20,052 | €27,368 | +€7,316 | +36.5% |
| Other amounts payable | 47/48 | €42,000 | €343,900 | +€301,900 | +719% |
| Non-recurring operating income | 76A | €183,395 | €121,331 | -€62,064 | -33.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €405,708 | €561,579 | +€155,871 | +38.4% |
| Other operating charges | 640/8 | €2,301 | €2,039 | -€262 | -11.4% |
| Non-recurring operating charges | 66A | €64,454 | €60,986 | -€3,468 | -5.4% |
| Gross operating margin | 9900 | €777,471 | €870,883 | +€93,412 | +12.0% |
| Operating profit (loss) | 9901 | €305,008 | €246,280 | -€58,729 | -19.3% |
| Financial income | 75/76B | - | €260 | +€260 | |
| Recurring financial income | 75 | - | €260 | +€260 | |
| Financial charges | 65/66B | €128,444 | €178,340 | +€49,896 | +38.8% |
| Recurring financial charges | 65 | €128,444 | €178,340 | +€49,896 | +38.8% |
| Profit (loss) for the period before taxes | 9903 | €176,565 | €68,200 | -€108,365 | -61.4% |
| Income taxes | 67/77 | €48,047 | €17,304 | -€30,744 | -64.0% |
| Profit (loss) for the period | 9904 | €128,518 | €50,896 | -€77,621 | -60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €128,518 | €50,896 | -€77,621 | -60.4% |
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.