I.B.W.: 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.B.W.
Largest movements
- Cash -€140,435
down €140,435 (-88.9%), from €157,963 to €17,528
mainly Contributions, distributions and other (-€244,060) and Current investments (-€90,000)
- Current investments +€90,000
up €90,000, from €0 to €90,000
- Reserves -€139,883
down €139,883 (-100%), from €139,883 to €0
- Other debts +€105,689
up €105,689 (+20,130%), from €525 to €106,214
- Tax, wage and social debts -€17,071
down €17,071 (-52.4%), from €32,579 to €15,509
of which Taxes: -€19,071
- Gross operating margin +€73,821
up €73,821 (+119%), from €61,836 to €135,656
- Taxes +€16,489
up €16,489 (+118%), from €13,984 to €30,472
- Financial income -€1,610
down €1,610 (-65.6%), from €2,453 to €844
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 | €180,002 | €128,513 | -€51,489 | -28.6% |
| Fixed assets | 21/28 | €3,198 | €2,117 | -€1,081 | -33.8% |
| Tangible fixed assets | 22/27 | €3,198 | €2,117 | -€1,081 | -33.8% |
| Furniture and vehicles | 24 | €3,198 | €2,117 | -€1,081 | -33.8% |
| Current assets | 29/58 | €176,804 | €126,396 | -€50,409 | -28.5% |
| Amounts receivable within one year | 40/41 | €18,842 | €18,868 | +€26 | +0.1% |
| Trade receivables | 40 | €17,912 | €18,540 | +€628 | +3.5% |
| Other amounts receivable | 41 | €930 | €328 | -€602 | -64.7% |
| Current investments | 50/53 | €0 | €90,000 | +€90,000 | |
| Cash at bank and in hand | 54/58 | €157,963 | €17,528 | -€140,435 | -88.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €180,002 | €128,513 | -€51,489 | -28.6% |
| Equity | 10/15 | €142,883 | €3,000 | -€139,883 | -97.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €139,883 | €0 | -€139,883 | -100% |
| Distributable reserves | 133 | €139,883 | €0 | -€139,883 | -100% |
| Amounts payable | 17/49 | €37,119 | €125,513 | +€88,393 | +238% |
| Amounts payable within one year | 42/48 | €37,119 | €125,513 | +€88,393 | +238% |
| Trade debts | 44 | €4,015 | €3,790 | -€225 | -5.6% |
| Suppliers | 440/4 | €4,015 | €3,790 | -€225 | -5.6% |
| Taxes, remuneration and social security | 45 | €32,579 | €15,509 | -€17,071 | -52.4% |
| Taxes | 450/3 | €32,579 | €13,509 | -€19,071 | -58.5% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | €525 | €106,214 | +€105,689 | +20,130% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,081 | €1,081 | = | 0.0% |
| Other operating charges | 640/8 | €448 | €462 | +€14 | +3.1% |
| Gross operating margin | 9900 | €61,836 | €135,656 | +€73,821 | +119% |
| Operating profit (loss) | 9901 | €60,307 | €134,114 | +€73,807 | +122% |
| Financial income | 75/76B | €2,453 | €844 | -€1,610 | -65.6% |
| Recurring financial income | 75 | €2,453 | €844 | -€1,610 | -65.6% |
| Financial charges | 65/66B | €256 | €308 | +€53 | +20.6% |
| Recurring financial charges | 65 | €256 | €308 | +€53 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €62,505 | €134,649 | +€72,144 | +115% |
| Income taxes | 67/77 | €13,984 | €30,472 | +€16,489 | +118% |
| Profit (loss) for the period | 9904 | €48,521 | €104,177 | +€55,656 | +115% |
| Profit (loss) for the period to be appropriated | 9905 | €48,521 | €104,177 | +€55,656 | +115% |
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.