I.B. Projects: what changed
Two fiscal 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.B. Projects
Largest movements
- Cash +€554,552
up €554,552 (+1039.2%), from €53,361 to €607,913
mainly Trade debts (+€271,510) and Receivables within one year (+€162,722)
- Receivables within one year -€162,722
down €162,722 (-12.9%), from €1.3m to €1.1m
of which Trade receivables: -€186,653
- Tangible fixed assets -€81,614
down €81,614 (-9.0%), from €904,829 to €823,215
- Trade debts +€271,510
up €271,510 (+46.4%), from €585,085 to €856,595
- Reserves +€154,649
up €154,649 (+26.9%), from €575,336 to €729,985
- Other debts -€100,392
down €100,392 (-50.1%), from €200,392 to €100,000
- Debts after one year -€62,646
down €62,646 (-15.1%), from €415,443 to €352,797
- Tax, wage and social debts +€40,026
up €40,026 (+79.6%), from €50,263 to €90,289
of which Taxes: +€39,350
- Gross operating margin +€267,673
up €267,673 (+20.4%), from €1.3m to €1.6m
- Staff costs +€252,248
up €252,248 (+25.9%), from €974,705 to €1.2m
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,237,594 | €2,545,675 | +€308,082 | +13.8% |
| Fixed assets | 21/28 | €904,829 | €823,215 | -€81,614 | -9.0% |
| Tangible fixed assets | 22/27 | €904,829 | €823,215 | -€81,614 | -9.0% |
| Land and buildings | 22 | €608,842 | €575,325 | -€33,518 | -5.5% |
| Plant, machinery and equipment | 23 | €218,036 | €190,632 | -€27,405 | -12.6% |
| Furniture and vehicles | 24 | €18,951 | €18,348 | -€604 | -3.2% |
| Leasing and similar rights | 25 | €58,999 | €38,911 | -€20,088 | -34.0% |
| Current assets | 29/58 | €1,332,765 | €1,722,460 | +€389,696 | +29.2% |
| Amounts receivable within one year | 40/41 | €1,258,258 | €1,095,536 | -€162,722 | -12.9% |
| Trade receivables | 40 | €1,219,332 | €1,032,679 | -€186,653 | -15.3% |
| Other amounts receivable | 41 | €38,926 | €62,857 | +€23,931 | +61.5% |
| Cash at bank and in hand | 54/58 | €53,361 | €607,913 | +€554,552 | +1039.2% |
| Deferred charges and accrued income | 490/1 | €21,145 | €19,011 | -€2,134 | -10.1% |
| Total equity and liabilities | 10/49 | €2,237,594 | €2,545,675 | +€308,082 | +13.8% |
| Equity | 10/15 | €888,336 | €1,042,985 | +€154,649 | +17.4% |
| Contributions | 10/11 | €313,000 | €313,000 | = | 0.0% |
| Reserves | 13 | €575,336 | €729,985 | +€154,649 | +26.9% |
| Distributable reserves | 133 | €575,336 | €729,985 | +€154,649 | +26.9% |
| Amounts payable | 17/49 | €1,349,258 | €1,502,690 | +€153,432 | +11.4% |
| Amounts payable after more than one year | 17 | €415,443 | €352,797 | -€62,646 | -15.1% |
| Financial debts | 170/4 | €415,443 | €352,797 | -€62,646 | -15.1% |
| Amounts payable within one year | 42/48 | €925,815 | €1,129,703 | +€203,887 | +22.0% |
| Current portion of amounts payable after more than one year | 42 | €65,605 | €62,646 | -€2,959 | -4.5% |
| Financial debts | 43 | €24,471 | €20,173 | -€4,298 | -17.6% |
| Credit institutions | 430/8 | €24,471 | €20,173 | -€4,298 | -17.6% |
| Trade debts | 44 | €585,085 | €856,595 | +€271,510 | +46.4% |
| Suppliers | 440/4 | €585,085 | €856,595 | +€271,510 | +46.4% |
| Taxes, remuneration and social security | 45 | €50,263 | €90,289 | +€40,026 | +79.6% |
| Taxes | 450/3 | €6,476 | €45,826 | +€39,350 | +607.6% |
| Remuneration and social security | 454/9 | €43,786 | €44,462 | +€676 | +1.5% |
| Other amounts payable | 47/48 | €200,392 | €100,000 | -€100,392 | -50.1% |
| Accrued charges and deferred income | 492/3 | €8,000 | €20,191 | +€12,191 | +152.4% |
| Non-recurring operating income | 76A | €1,674 | €0 | -€1,674 | -100.0% |
| Remuneration, social security and pensions | 62 | €974,705 | €1,226,953 | +€252,248 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €103,294 | €110,904 | +€7,610 | +7.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,819 | €6,317 | +€498 | +8.6% |
| Non-recurring operating charges | 66A | €265 | €0 | -€265 | -100.0% |
| Gross operating margin | 9900 | €1,314,507 | €1,582,180 | +€267,673 | +20.4% |
| Operating profit (loss) | 9901 | €230,423 | €238,005 | +€7,582 | +3.3% |
| Financial income | 75/76B | €8,284 | €9,862 | +€1,578 | +19.0% |
| Recurring financial income | 75 | €8,284 | €9,862 | +€1,578 | +19.0% |
| Financial charges | 65/66B | €39,306 | €37,378 | -€1,928 | -4.9% |
| Recurring financial charges | 65 | €39,306 | €37,378 | -€1,928 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €199,401 | €210,489 | +€11,088 | +5.6% |
| Income taxes | 67/77 | €51,765 | €55,840 | +€4,075 | +7.9% |
| Profit (loss) for the period | 9904 | €147,637 | €154,649 | +€7,012 | +4.7% |
| Profit (loss) for the period to be appropriated | 9905 | €147,637 | €154,649 | +€7,012 | +4.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.