I.B.V.: what changed
I.B.V.
Largest movements
- Receivables within one year +€29,199
up €29,199 (+63.3%), from €46,137 to €75,336
of which Trade receivables: +€26,885
- Stocks and contracts +€4,549
up €4,549 (+19.4%), from €23,501 to €28,050
- Tangible fixed assets -€4,153
down €4,153 (-28.7%), from €14,464 to €10,311
of which Furniture and vehicles: -€3,822
- Cash -€3,305
no longer reported in 2025 (was €3,305)
mainly Receivables within one year (-€29,199) and Stocks and contracts (-€4,549)
- Deferred charges and accrued income +€1,462
new in 2025: €1,462
- Profit (loss) carried forward +€21,756
up €21,756 (+152%), from €14,326 to €36,082
- Tax, wage and social debts +€4,540
up €4,540 (+70.6%), from €6,429 to €10,969
of which Taxes: +€4,759
- Other debts -€3,775
down €3,775 (-20.0%), from €18,877 to €15,102
- Trade debts +€3,584
up €3,584 (+16.1%), from €22,283 to €25,867
- Accrued charges and deferred income +€3,558
up €3,558 (+171%), from €2,077 to €5,634
- Gross operating margin +€18,529
up €18,529 (+20.0%), from €92,424 to €110,954
- Staff costs -€9,186
down €9,186 (-10.9%), from €84,559 to €75,372
- Taxes +€7,057
up €7,057 (+697%), from €1,012 to €8,068
- Depreciation +€2,543
up €2,543 (+158%), from €1,610 to €4,153
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €87,406 | €115,158 | +€27,753 | +31.8% |
| Fixed assets | 21/28 | €14,464 | €10,311 | -€4,153 | -28.7% |
| Tangible fixed assets | 22/27 | €14,464 | €10,311 | -€4,153 | -28.7% |
| Plant, machinery and equipment | 23 | €449 | €118 | -€331 | -73.8% |
| Furniture and vehicles | 24 | €14,015 | €10,193 | -€3,822 | -27.3% |
| Current assets | 29/58 | €72,942 | €104,848 | +€31,906 | +43.7% |
| Stocks and contracts in progress | 3 | €23,501 | €28,050 | +€4,549 | +19.4% |
| Stocks | 30/36 | €23,501 | €28,050 | +€4,549 | +19.4% |
| Amounts receivable within one year | 40/41 | €46,137 | €75,336 | +€29,199 | +63.3% |
| Trade receivables | 40 | €22,093 | €48,978 | +€26,885 | +122% |
| Other amounts receivable | 41 | €24,044 | €26,358 | +€2,314 | +9.6% |
| Cash at bank and in hand | 54/58 | €3,305 | - | -€3,305 | |
| Deferred charges and accrued income | 490/1 | - | €1,462 | +€1,462 | |
| Total equity and liabilities | 10/49 | €87,406 | €115,158 | +€27,753 | +31.8% |
| Equity | 10/15 | €34,786 | €56,542 | +€21,756 | +62.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,326 | €36,082 | +€21,756 | +152% |
| Amounts payable | 17/49 | €52,620 | €58,616 | +€5,996 | +11.4% |
| Amounts payable after more than one year | 17 | €1,044 | - | -€1,044 | |
| Financial debts | 170/4 | €1,044 | - | -€1,044 | |
| Amounts payable within one year | 42/48 | €49,499 | €52,982 | +€3,483 | +7.0% |
| Financial debts | 43 | €1,910 | €1,044 | -€866 | -45.3% |
| Other loans | 439 | €1,910 | €1,044 | -€866 | -45.3% |
| Trade debts | 44 | €22,283 | €25,867 | +€3,584 | +16.1% |
| Suppliers | 440/4 | €22,283 | €25,867 | +€3,584 | +16.1% |
| Taxes, remuneration and social security | 45 | €6,429 | €10,969 | +€4,540 | +70.6% |
| Taxes | 450/3 | €4,321 | €9,080 | +€4,759 | +110% |
| Remuneration and social security | 454/9 | €2,108 | €1,889 | -€219 | -10.4% |
| Other amounts payable | 47/48 | €18,877 | €15,102 | -€3,775 | -20.0% |
| Accrued charges and deferred income | 492/3 | €2,077 | €5,634 | +€3,558 | +171% |
| Non-recurring operating income | 76A | €165 | - | -€165 | |
| Remuneration, social security and pensions | 62 | €84,559 | €75,372 | -€9,186 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,610 | €4,153 | +€2,543 | +158% |
| Other operating charges | 640/8 | €1,531 | €1,349 | -€182 | -11.9% |
| Gross operating margin | 9900 | €92,424 | €110,954 | +€18,529 | +20.0% |
| Operating profit (loss) | 9901 | €4,725 | €30,079 | +€25,354 | +537% |
| Financial income | 75/76B | €10 | €33 | +€23 | +243% |
| Recurring financial income | 75 | €10 | €33 | +€23 | +243% |
| Financial charges | 65/66B | €102 | €287 | +€185 | +181% |
| Recurring financial charges | 65 | €102 | €287 | +€185 | +181% |
| Profit (loss) for the period before taxes | 9903 | €4,632 | €29,825 | +€25,192 | +544% |
| Income taxes | 67/77 | €1,012 | €8,068 | +€7,057 | +697% |
| Profit (loss) for the period | 9904 | €3,620 | €21,756 | +€18,136 | +501% |
| Profit (loss) for the period to be appropriated | 9905 | €3,620 | €21,756 | +€18,136 | +501% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.