I-COATS: 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-COATS
Largest movements
- Cash +€638,198
up €638,198 (+113%), from €567,281 to €1.2m
mainly Net result for the year (+€1.3m) and Other debts (+€494,304)
- Receivables within one year -€42,986
down €42,986 (-5.8%), from €747,437 to €704,452
of which Trade receivables: -€54,400
- Other debts +€494,304
up €494,304 (+63.7%), from €775,451 to €1.3m
- Trade debts +€102,669
up €102,669 (+31.9%), from €321,701 to €424,370
- Gross operating margin +€461,850
up €461,850 (+50.6%), from €913,054 to €1.4m
- Staff costs +€42,842
up €42,842 (+23.0%), from €186,046 to €228,888
- Financial income +€36,791
up €36,791 (+36.9%), from €99,681 to €136,472
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 | €2,326,985 | €2,946,487 | +€619,503 | +26.6% |
| Fixed assets | 21/28 | €18,858 | €52,570 | +€33,712 | +179% |
| Intangible fixed assets | 21 | - | €7,834 | +€7,834 | |
| Tangible fixed assets | 22/27 | €18,858 | €44,736 | +€25,878 | +137% |
| Land and buildings | 22 | €15,320 | €12,617 | -€2,703 | -17.6% |
| Plant, machinery and equipment | 23 | €1,237 | €0 | -€1,237 | -100% |
| Furniture and vehicles | 24 | €2,301 | €32,119 | +€29,818 | +1,296% |
| Current assets | 29/58 | €2,308,126 | €2,893,917 | +€585,791 | +25.4% |
| Amounts receivable within one year | 40/41 | €747,437 | €704,452 | -€42,986 | -5.8% |
| Trade receivables | 40 | €596,873 | €542,472 | -€54,400 | -9.1% |
| Other amounts receivable | 41 | €150,564 | €161,979 | +€11,415 | +7.6% |
| Current investments | 50/53 | €990,270 | €983,987 | -€6,283 | -0.6% |
| Cash at bank and in hand | 54/58 | €567,281 | €1,205,478 | +€638,198 | +113% |
| Deferred charges and accrued income | 490/1 | €3,138 | €0 | -€3,138 | -100% |
| Total equity and liabilities | 10/49 | €2,326,985 | €2,946,487 | +€619,503 | +26.6% |
| Equity | 10/15 | €1,181,142 | €1,186,847 | +€5,704 | +0.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,080,000 | €1,080,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €1,070,000 | €1,070,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,142 | €6,847 | +€5,704 | +499% |
| Amounts payable | 17/49 | €1,145,842 | €1,759,641 | +€613,798 | +53.6% |
| Amounts payable within one year | 42/48 | €1,142,350 | €1,751,942 | +€609,593 | +53.4% |
| Trade debts | 44 | €321,701 | €424,370 | +€102,669 | +31.9% |
| Suppliers | 440/4 | €321,701 | €424,370 | +€102,669 | +31.9% |
| Taxes, remuneration and social security | 45 | €45,198 | €57,817 | +€12,619 | +27.9% |
| Taxes | 450/3 | €3,683 | €6,792 | +€3,109 | +84.4% |
| Remuneration and social security | 454/9 | €41,515 | €51,025 | +€9,510 | +22.9% |
| Other amounts payable | 47/48 | €775,451 | €1,269,755 | +€494,304 | +63.7% |
| Accrued charges and deferred income | 492/3 | €3,492 | €7,698 | +€4,206 | +120% |
| Remuneration, social security and pensions | 62 | €186,046 | €228,888 | +€42,842 | +23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,509 | €8,045 | +€3,536 | +78.4% |
| Other operating charges | 640/8 | €1,214 | €1,714 | +€500 | +41.2% |
| Gross operating margin | 9900 | €913,054 | €1,374,904 | +€461,850 | +50.6% |
| Operating profit (loss) | 9901 | €721,285 | €1,136,257 | +€414,972 | +57.5% |
| Financial income | 75/76B | €99,681 | €136,472 | +€36,791 | +36.9% |
| Recurring financial income | 75 | €99,681 | €136,472 | +€36,791 | +36.9% |
| Financial charges | 65/66B | €9,263 | €10,745 | +€1,483 | +16.0% |
| Recurring financial charges | 65 | €9,263 | €10,745 | +€1,483 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €811,703 | €1,261,983 | +€450,280 | +55.5% |
| Income taxes | 67/77 | €14,830 | €1,938 | -€12,892 | -86.9% |
| Profit (loss) for the period | 9904 | €796,872 | €1,260,044 | +€463,172 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | €796,872 | €1,260,044 | +€463,172 | +58.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.