I&E PROJECTS: what changed
I&E PROJECTS
Largest movements
- Receivables within one year +€53,402
up €53,402 (+184%), from €29,072 to €82,475
of which Trade receivables: +€42,280
- Tangible fixed assets +€45,514
up €45,514 (+3,111%), from €1,463 to €46,977
of which Furniture and vehicles: +€43,173
- Cash +€1,683
up €1,683 (+531%), from €317 to €2,000
mainly Debts after one year (+€32,402) and Trade debts (+€28,799)
- Debts after one year +€32,402
new in 2025: €32,402
- Trade debts +€28,799
up €28,799 (+149%), from €19,299 to €48,098
- Reserves +€20,114
new in 2025: €20,114
- Current portion of long-term debt +€11,112
new in 2025: €11,112
- Tax, wage and social debts +€8,811
up €8,811 (+422%), from €2,087 to €10,897
- Gross operating margin +€20,095
up €20,095 (+60.2%), from €33,360 to €53,455
- Write-downs -€8,500
down €8,500 (-45.9%), from €18,500 to €10,000
- Taxes +€6,724
up €6,724 (+322%), from €2,087 to €8,811
- Financial charges +€3,994
up €3,994 (+88.2%), from €4,526 to €8,521
- Depreciation +€3,229
up €3,229 (+211%), from €1,527 to €4,756
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,852 | €131,452 | +€100,599 | +326% |
| Fixed assets | 21/28 | €1,463 | €46,977 | +€45,514 | +3,111% |
| Tangible fixed assets | 22/27 | €1,463 | €46,977 | +€45,514 | +3,111% |
| Plant, machinery and equipment | 23 | €1,463 | €3,804 | +€2,341 | +160% |
| Furniture and vehicles | 24 | - | €43,173 | +€43,173 | |
| Current assets | 29/58 | €29,389 | €84,475 | +€55,086 | +187% |
| Amounts receivable within one year | 40/41 | €29,072 | €82,475 | +€53,402 | +184% |
| Trade receivables | 40 | €24,292 | €66,573 | +€42,280 | +174% |
| Other amounts receivable | 41 | €4,780 | €15,902 | +€11,122 | +233% |
| Cash at bank and in hand | 54/58 | €317 | €2,000 | +€1,683 | +531% |
| Total equity and liabilities | 10/49 | €30,852 | €131,452 | +€100,599 | +326% |
| Equity | 10/15 | €8,827 | €28,942 | +€20,114 | +228% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Contributions outside capital | 11 | €3,000 | €3,000 | = | 0.0% |
| Other | 1109/19 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | - | €20,114 | +€20,114 | |
| Distributable reserves | 133 | - | €20,114 | +€20,114 | |
| Profit (loss) carried forward | 14 | €5,827 | €5,827 | = | 0.0% |
| Amounts payable | 17/49 | €22,025 | €102,510 | +€80,485 | +365% |
| Amounts payable after more than one year | 17 | - | €32,402 | +€32,402 | |
| Financial debts | 170/4 | - | €32,402 | +€32,402 | |
| Amounts payable within one year | 42/48 | €21,386 | €70,108 | +€48,722 | +228% |
| Current portion of amounts payable after more than one year | 42 | - | €11,112 | +€11,112 | |
| Trade debts | 44 | €19,299 | €48,098 | +€28,799 | +149% |
| Suppliers | 440/4 | €19,299 | €48,098 | +€28,799 | +149% |
| Taxes, remuneration and social security | 45 | €2,087 | €10,897 | +€8,811 | +422% |
| Taxes | 450/3 | €2,087 | €10,897 | +€8,811 | +422% |
| Accrued charges and deferred income | 492/3 | €639 | - | -€639 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,527 | €4,756 | +€3,229 | +211% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,500 | €10,000 | -€8,500 | -45.9% |
| Other operating charges | 640/8 | €902 | €1,259 | +€357 | +39.5% |
| Gross operating margin | 9900 | €33,360 | €53,455 | +€20,095 | +60.2% |
| Operating profit (loss) | 9901 | €12,431 | €37,440 | +€25,010 | +201% |
| Financial income | 75/76B | €10 | €5 | -€4 | -46.1% |
| Recurring financial income | 75 | €10 | €5 | -€4 | -46.1% |
| Financial charges | 65/66B | €4,526 | €8,521 | +€3,994 | +88.2% |
| Recurring financial charges | 65 | €4,526 | €8,521 | +€3,994 | +88.2% |
| Profit (loss) for the period before taxes | 9903 | €7,914 | €28,925 | +€21,011 | +265% |
| Income taxes | 67/77 | €2,087 | €8,811 | +€6,724 | +322% |
| Profit (loss) for the period | 9904 | €5,827 | €20,114 | +€14,287 | +245% |
| Profit (loss) for the period to be appropriated | 9905 | €5,827 | €20,114 | +€14,287 | +245% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.