I.E.C.A.O.: 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.E.C.A.O.
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Trade debts +€4,949
up €4,949 (+107.7%), from €4,595 to €9,544
- Profit (loss) carried forward -€4,948
down €4,948 (-4.6%), from -€108,086 to -€113,034
- Taxes -€21,805
no longer reported in 2025 (was €21,805)
- Gross operating margin -€3,848
down €3,848 (-350.0%), from -€1,100 to -€4,948
- Other operating charges -€250
no longer reported in 2025 (was €250)
- Financial charges -€61
no longer reported in 2025 (was €61)
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €252,527 | €252,527 | +€0 | 0.0% |
| Fixed assets | 21/28 | €250,000 | €250,000 | = | 0.0% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €2,527 | €2,527 | +€0 | 0.0% |
| Amounts receivable within one year | 40/41 | €2,527 | €2,527 | +€0 | 0.0% |
| Other amounts receivable | 41 | €2,527 | €2,527 | +€0 | 0.0% |
| Total equity and liabilities | 10/49 | €252,527 | €252,527 | +€0 | 0.0% |
| Equity | 10/15 | €115,018 | €110,070 | -€4,948 | -4.3% |
| Contributions | 10/11 | €223,104 | €223,104 | -€0 | 0.0% |
| Capital | 10 | €223,104 | €223,104 | -€0 | 0.0% |
| Issued capital | 100 | €272,683 | €223,104 | -€49,579 | -18.2% |
| Uncalled capital | 101 | €49,579 | - | -€49,579 | |
| Profit (loss) carried forward | 14 | -€108,086 | -€113,034 | -€4,948 | -4.6% |
| Amounts payable | 17/49 | €137,509 | €142,457 | +€4,948 | +3.6% |
| Amounts payable within one year | 42/48 | €137,509 | €142,457 | +€4,948 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | - | €942 | +€942 | |
| Financial debts | 43 | €117 | €117 | +€0 | 0.0% |
| Credit institutions | 430/8 | €117 | €117 | +€0 | 0.0% |
| Trade debts | 44 | €4,595 | €9,544 | +€4,949 | +107.7% |
| Suppliers | 440/4 | €4,595 | €9,544 | +€4,949 | +107.7% |
| Taxes, remuneration and social security | 45 | €38,217 | €38,217 | +€0 | 0.0% |
| Taxes | 450/3 | €38,217 | €38,217 | +€0 | 0.0% |
| Other amounts payable | 47/48 | €94,580 | €93,637 | -€943 | -1.0% |
| Other operating charges | 640/8 | €250 | - | -€250 | |
| Gross operating margin | 9900 | -€1,100 | -€4,948 | -€3,848 | -350.0% |
| Operating profit (loss) | 9901 | -€1,350 | -€4,948 | -€3,598 | -266.6% |
| Financial charges | 65/66B | €61 | - | -€61 | |
| Recurring financial charges | 65 | €61 | - | -€61 | |
| Profit (loss) for the period before taxes | 9903 | -€1,411 | -€4,948 | -€3,537 | -250.8% |
| Income taxes | 67/77 | €21,805 | - | -€21,805 | |
| Profit (loss) for the period | 9904 | -€23,216 | -€4,948 | +€18,268 | +78.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,216 | -€4,948 | +€18,268 | +78.7% |
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 8 October 2026 via checked.be.