I.A.D.: 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.
I.A.D.
Largest movements
- Receivables within one year -€84,876
down €84,876 (-59.7%), from €142,149 to €57,273
of which Other amounts receivable: -€75,289
- Cash +€16,515
up €16,515 (+566%), from €2,917 to €19,432
mainly Receivables within one year (+€84,876) and Current portion of long-term debt (+€14,900)
- Other debts -€49,000
no longer reported in 2025 (was €49,000)
- Tax, wage and social debts -€22,500
down €22,500 (-75.0%), from €30,000 to €7,500
- Current portion of long-term debt +€14,900
new in 2025: €14,900
- Trade debts -€11,714
down €11,714 (-70.7%), from €16,562 to €4,848
- Reserves -€1,855
down €1,855 (-6.2%), from €29,855 to €28,000
- Other operating charges +€25,179
up €25,179 (+1,258%), from €2,001 to €27,180
- Taxes -€8,967
down €8,967 (-82.1%), from €10,927 to €1,960
- Gross operating margin -€8,580
down €8,580 (-19.9%), from €43,051 to €34,472
- Depreciation -€2,749
down €2,749 (-60.0%), from €4,584 to €1,835
- Financial charges +€882
up €882 (+24.2%), from €3,640 to €4,522
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 | €156,042 | €86,675 | -€69,367 | -44.5% |
| Fixed assets | 21/28 | €2,041 | €1,706 | -€335 | -16.4% |
| Tangible fixed assets | 22/27 | €2,041 | €1,706 | -€335 | -16.4% |
| Plant, machinery and equipment | 23 | €474 | €259 | -€215 | -45.3% |
| Furniture and vehicles | 24 | €1,567 | €1,447 | -€120 | -7.6% |
| Current assets | 29/58 | €154,001 | €84,969 | -€69,032 | -44.8% |
| Amounts receivable within one year | 40/41 | €142,149 | €57,273 | -€84,876 | -59.7% |
| Trade receivables | 40 | €26,373 | €16,786 | -€9,587 | -36.4% |
| Other amounts receivable | 41 | €115,776 | €40,487 | -€75,289 | -65.0% |
| Cash at bank and in hand | 54/58 | €2,917 | €19,432 | +€16,515 | +566% |
| Deferred charges and accrued income | 490/1 | €8,936 | €8,264 | -€671 | -7.5% |
| Total equity and liabilities | 10/49 | €156,042 | €86,675 | -€69,367 | -44.5% |
| Equity | 10/15 | €42,804 | €41,810 | -€994 | -2.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €29,855 | €28,000 | -€1,855 | -6.2% |
| Distributable reserves | 133 | €29,855 | €28,000 | -€1,855 | -6.2% |
| Profit (loss) carried forward | 14 | €549 | €1,410 | +€861 | +157% |
| Amounts payable | 17/49 | €113,239 | €44,866 | -€68,373 | -60.4% |
| Amounts payable within one year | 42/48 | €113,239 | €44,866 | -€68,373 | -60.4% |
| Current portion of amounts payable after more than one year | 42 | - | €14,900 | +€14,900 | |
| Financial debts | 43 | €17,676 | €17,618 | -€58 | -0.3% |
| Credit institutions | 430/8 | €17,676 | €17,618 | -€58 | -0.3% |
| Trade debts | 44 | €16,562 | €4,848 | -€11,714 | -70.7% |
| Suppliers | 440/4 | €16,562 | €4,848 | -€11,714 | -70.7% |
| Taxes, remuneration and social security | 45 | €30,000 | €7,500 | -€22,500 | -75.0% |
| Taxes | 450/3 | €30,000 | €7,500 | -€22,500 | -75.0% |
| Other amounts payable | 47/48 | €49,000 | - | -€49,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,584 | €1,835 | -€2,749 | -60.0% |
| Other operating charges | 640/8 | €2,001 | €27,180 | +€25,179 | +1,258% |
| Gross operating margin | 9900 | €43,051 | €34,472 | -€8,580 | -19.9% |
| Operating profit (loss) | 9901 | €36,466 | €5,457 | -€31,009 | -85.0% |
| Financial income | 75/76B | €1 | €32 | +€31 | +3,050% |
| Recurring financial income | 75 | €1 | €32 | +€31 | +3,050% |
| Financial charges | 65/66B | €3,640 | €4,522 | +€882 | +24.2% |
| Recurring financial charges | 65 | €3,640 | €4,522 | +€882 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €32,827 | €967 | -€31,861 | -97.1% |
| Income taxes | 67/77 | €10,927 | €1,960 | -€8,967 | -82.1% |
| Profit (loss) for the period | 9904 | €21,900 | -€994 | -€22,894 | |
| Profit (loss) for the period to be appropriated | 9905 | €21,900 | -€994 | -€22,894 |
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 21 October 2026 via checked.be.