I.DEEDS: 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.DEEDS
Largest movements
- Deferred charges and accrued income -€309,506
down €309,506 (-44.1%), from €702,566 to €393,060
- Receivables within one year -€172,922
down €172,922 (-19.9%), from €869,128 to €696,206
of which Trade receivables: -€172,428
- Receivables after one year -€89,328
no longer reported in 2025 (was €89,328)
- Tangible fixed assets -€27,161
down €27,161 (-30.3%), from €89,584 to €62,423
of which Furniture and vehicles: -€15,930
- Accrued charges and deferred income -€431,505
down €431,505 (-48.9%), from €881,929 to €450,425
- Other debts -€185,852
down €185,852 (-62.0%), from €300,000 to €114,148
- Short-term financial debts +€182,816
up €182,816 (+478.0%), from €38,243 to €221,059
- Trade debts -€122,632
down €122,632 (-38.6%), from €317,588 to €194,956
- Debts after one year -€20,613
no longer reported in 2025 (was €20,613)
- Gross operating margin -€127,042
down €127,042 (-5.9%), from €2.1m to €2.0m
- Depreciation -€94,882
down €94,882 (-71.6%), from €132,546 to €37,663
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 | €2,052,467 | €1,452,628 | -€599,838 | -29.2% |
| Fixed assets | 21/28 | €112,434 | €79,652 | -€32,781 | -29.2% |
| Intangible fixed assets | 21 | €22,849 | €17,229 | -€5,620 | -24.6% |
| Tangible fixed assets | 22/27 | €89,584 | €62,423 | -€27,161 | -30.3% |
| Furniture and vehicles | 24 | €69,736 | €53,806 | -€15,930 | -22.8% |
| Other tangible fixed assets | 26 | €19,848 | €8,617 | -€11,231 | -56.6% |
| Current assets | 29/58 | €1,940,033 | €1,372,976 | -€567,057 | -29.2% |
| Amounts receivable after more than one year | 29 | €89,328 | - | -€89,328 | |
| Trade receivables | 290 | €89,328 | - | -€89,328 | |
| Stocks and contracts in progress | 3 | €1 | - | -€1 | |
| Stocks | 30/36 | €1 | - | -€1 | |
| Amounts receivable within one year | 40/41 | €869,128 | €696,206 | -€172,922 | -19.9% |
| Trade receivables | 40 | €825,515 | €653,087 | -€172,428 | -20.9% |
| Other amounts receivable | 41 | €43,613 | €43,119 | -€494 | -1.1% |
| Cash at bank and in hand | 54/58 | €279,009 | €283,710 | +€4,700 | +1.7% |
| Deferred charges and accrued income | 490/1 | €702,566 | €393,060 | -€309,506 | -44.1% |
| Total equity and liabilities | 10/49 | €2,052,467 | €1,452,628 | -€599,838 | -29.2% |
| Equity | 10/15 | €180,269 | €178,200 | -€2,069 | -1.1% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €16,200 | €16,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,069 | - | -€2,069 | |
| Amounts payable | 17/49 | €1,872,198 | €1,274,428 | -€597,769 | -31.9% |
| Amounts payable after more than one year | 17 | €20,613 | - | -€20,613 | |
| Financial debts | 170/4 | €20,613 | - | -€20,613 | |
| Amounts payable within one year | 42/48 | €969,655 | €824,004 | -€145,651 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €20,302 | €20,613 | +€311 | +1.5% |
| Financial debts | 43 | €38,243 | €221,059 | +€182,816 | +478.0% |
| Credit institutions | 430/8 | €38,243 | €221,059 | +€182,816 | +478.0% |
| Trade debts | 44 | €317,588 | €194,956 | -€122,632 | -38.6% |
| Suppliers | 440/4 | €317,588 | €194,956 | -€122,632 | -38.6% |
| Taxes, remuneration and social security | 45 | €293,521 | €273,227 | -€20,294 | -6.9% |
| Taxes | 450/3 | €87,250 | €83,499 | -€3,751 | -4.3% |
| Remuneration and social security | 454/9 | €206,271 | €189,728 | -€16,543 | -8.0% |
| Other amounts payable | 47/48 | €300,000 | €114,148 | -€185,852 | -62.0% |
| Accrued charges and deferred income | 492/3 | €881,929 | €450,425 | -€431,505 | -48.9% |
| Non-recurring operating income | 76A | €16,490 | - | -€16,490 | |
| Remuneration, social security and pensions | 62 | €1,620,561 | €1,631,913 | +€11,352 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €132,546 | €37,663 | -€94,882 | -71.6% |
| Other operating charges | 640/8 | €10,043 | €12,908 | +€2,864 | +28.5% |
| Non-recurring operating charges | 66A | €173,021 | €466 | -€172,555 | -99.7% |
| Gross operating margin | 9900 | €2,143,587 | €2,016,545 | -€127,042 | -5.9% |
| Operating profit (loss) | 9901 | €207,416 | €333,595 | +€126,179 | +60.8% |
| Financial charges | 65/66B | €11,402 | €6,118 | -€5,284 | -46.3% |
| Recurring financial charges | 65 | €11,402 | €6,118 | -€5,284 | -46.3% |
| Profit (loss) for the period before taxes | 9903 | €196,013 | €327,477 | +€131,464 | +67.1% |
| Income taxes | 67/77 | €51,387 | €65,398 | +€14,011 | +27.3% |
| Profit (loss) for the period | 9904 | €144,626 | €262,079 | +€117,453 | +81.2% |
| Profit (loss) for the period to be appropriated | 9905 | €144,626 | €262,079 | +€117,453 | +81.2% |
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 4 October 2026 via checked.be.