I.E.B.: 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.E.B.
Largest movements
- Receivables within one year -€54,076
down €54,076 (-82.7%), from €65,384 to €11,307
- Cash -€34,221
down €34,221 (-35.3%), from €96,953 to €62,732
mainly Contributions, distributions and other (-€53,000) and Current investments (-€23,900)
- Current investments +€23,900
up €23,900 (+7.8%), from €305,428 to €329,327
- Tangible fixed assets -€7,182
down €7,182 (-23.1%), from €31,059 to €23,877
of which Furniture and vehicles: -€6,976
- Reserves -€53,000
down €53,000 (-12.5%), from €423,760 to €370,760
- Profit (loss) carried forward -€13,855
down €13,855 (-37.2%), from €37,243 to €23,388
- Trade debts -€5,586
down €5,586 (-33.2%), from €16,808 to €11,222
- Gross operating margin -€13,895
down €13,895 (-41.6%), from €33,442 to €19,547
- Financial charges +€9,933
up €9,933, from -€7,658 to €2,275
- Financial income +€1,535
up €1,535 (+40.0%), from €3,841 to €5,377
- Taxes -€1,207
no longer reported in 2025 (was €1,207)
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 | €504,996 | €433,353 | -€71,644 | -14.2% |
| Fixed assets | 21/28 | €31,459 | €24,277 | -€7,182 | -22.8% |
| Tangible fixed assets | 22/27 | €31,059 | €23,877 | -€7,182 | -23.1% |
| Plant, machinery and equipment | 23 | €14,993 | €14,993 | = | 0.0% |
| Furniture and vehicles | 24 | €14,060 | €7,084 | -€6,976 | -49.6% |
| Other tangible fixed assets | 26 | €2,006 | €1,800 | -€206 | -10.3% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €473,537 | €409,076 | -€64,461 | -13.6% |
| Amounts receivable within one year | 40/41 | €65,384 | €11,307 | -€54,076 | -82.7% |
| Other amounts receivable | 41 | €65,384 | €11,307 | -€54,076 | -82.7% |
| Current investments | 50/53 | €305,428 | €329,327 | +€23,900 | +7.8% |
| Cash at bank and in hand | 54/58 | €96,953 | €62,732 | -€34,221 | -35.3% |
| Deferred charges and accrued income | 490/1 | €5,772 | €5,709 | -€63 | -1.1% |
| Total equity and liabilities | 10/49 | €504,996 | €433,353 | -€71,644 | -14.2% |
| Equity | 10/15 | €479,603 | €412,748 | -€66,855 | -13.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €423,760 | €370,760 | -€53,000 | -12.5% |
| Distributable reserves | 133 | €423,760 | €370,760 | -€53,000 | -12.5% |
| Profit (loss) carried forward | 14 | €37,243 | €23,388 | -€13,855 | -37.2% |
| Amounts payable | 17/49 | €25,394 | €20,605 | -€4,788 | -18.9% |
| Amounts payable within one year | 42/48 | €24,758 | €20,304 | -€4,453 | -18.0% |
| Trade debts | 44 | €16,808 | €11,222 | -€5,586 | -33.2% |
| Suppliers | 440/4 | €16,808 | €11,222 | -€5,586 | -33.2% |
| Taxes, remuneration and social security | 45 | €7,950 | €6,868 | -€1,082 | -13.6% |
| Taxes | 450/3 | €977 | €287 | -€690 | -70.6% |
| Remuneration and social security | 454/9 | €6,973 | €6,581 | -€392 | -5.6% |
| Other amounts payable | 47/48 | - | €2,214 | +€2,214 | |
| Accrued charges and deferred income | 492/3 | €636 | €301 | -€335 | -52.7% |
| Remuneration, social security and pensions | 62 | €28,647 | €28,706 | +€59 | +0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,316 | €7,182 | -€134 | -1.8% |
| Other operating charges | 640/8 | €839 | €615 | -€224 | -26.7% |
| Gross operating margin | 9900 | €33,442 | €19,547 | -€13,895 | -41.6% |
| Operating profit (loss) | 9901 | -€3,360 | -€16,957 | -€13,596 | -404.6% |
| Financial income | 75/76B | €3,841 | €5,377 | +€1,535 | +40.0% |
| Recurring financial income | 75 | €3,841 | €5,377 | +€1,535 | +40.0% |
| Financial charges | 65/66B | -€7,658 | €2,275 | +€9,933 | |
| Recurring financial charges | 65 | -€7,658 | €2,275 | +€9,933 | |
| Profit (loss) for the period before taxes | 9903 | €8,139 | -€13,855 | -€21,995 | |
| Income taxes | 67/77 | €1,207 | - | -€1,207 | |
| Profit (loss) for the period | 9904 | €6,933 | -€13,855 | -€20,788 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,933 | -€13,855 | -€20,788 |
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 9 October 2026 via checked.be.