I.G.E. - SYNDIC: 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.G.E. - SYNDIC
Largest movements
- Cash +€202,571
up €202,571 (+46.6%), from €434,589 to €637,161
mainly Receivables within one year (+€145,780) and Net result for the year (+€131,530)
- Receivables within one year -€145,780
down €145,780 (-20.7%), from €702,870 to €557,090
of which Other amounts receivable: -€118,500
- Receivables after one year -€16,000
down €16,000 (-54.5%), from €29,368 to €13,368
- Short-term financial debts -€64,263
down €64,263 (-73.3%), from €87,728 to €23,465
- Other debts +€43,225
up €43,225 (+15.4%), from €281,023 to €324,249
- Tax, wage and social debts +€33,375
up €33,375 (+10.9%), from €305,277 to €338,652
of which Taxes: +€52,729
- Profit (loss) carried forward +€31,530
up €31,530 (+21.3%), from €148,212 to €179,742
- Gross operating margin +€97,007
up €97,007 (+12.2%), from €794,593 to €891,600
- Other operating charges +€37,411
up €37,411 (+48.2%), from €77,672 to €115,083
- Taxes +€23,889
up €23,889 (+86.0%), from €27,789 to €51,679
- Staff costs -€22,798
down €22,798 (-3.7%), from €611,990 to €589,192
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 | €1,227,117 | €1,267,629 | +€40,512 | +3.3% |
| Fixed assets | 21/28 | €293 | €76 | -€217 | -73.9% |
| Tangible fixed assets | 22/27 | €241 | €24 | -€217 | -89.8% |
| Furniture and vehicles | 24 | €241 | €24 | -€217 | -89.8% |
| Financial fixed assets | 28 | €52 | €52 | = | 0.0% |
| Current assets | 29/58 | €1,226,824 | €1,267,553 | +€40,728 | +3.3% |
| Amounts receivable after more than one year | 29 | €29,368 | €13,368 | -€16,000 | -54.5% |
| Trade receivables | 290 | €29,368 | €13,368 | -€16,000 | -54.5% |
| Amounts receivable within one year | 40/41 | €702,870 | €557,090 | -€145,780 | -20.7% |
| Trade receivables | 40 | €433,163 | €405,883 | -€27,280 | -6.3% |
| Other amounts receivable | 41 | €269,707 | €151,207 | -€118,500 | -43.9% |
| Cash at bank and in hand | 54/58 | €434,589 | €637,161 | +€202,571 | +46.6% |
| Deferred charges and accrued income | 490/1 | €59,996 | €59,934 | -€63 | -0.1% |
| Total equity and liabilities | 10/49 | €1,227,117 | €1,267,629 | +€40,512 | +3.3% |
| Equity | 10/15 | €168,672 | €200,202 | +€31,530 | +18.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €148,212 | €179,742 | +€31,530 | +21.3% |
| Amounts payable | 17/49 | €1,058,446 | €1,067,427 | +€8,982 | +0.8% |
| Amounts payable within one year | 42/48 | €982,785 | €983,388 | +€603 | +0.1% |
| Financial debts | 43 | €87,728 | €23,465 | -€64,263 | -73.3% |
| Credit institutions | 430/8 | €87,728 | €23,465 | -€64,263 | -73.3% |
| Trade debts | 44 | €308,757 | €297,022 | -€11,734 | -3.8% |
| Suppliers | 440/4 | €308,757 | €297,022 | -€11,734 | -3.8% |
| Taxes, remuneration and social security | 45 | €305,277 | €338,652 | +€33,375 | +10.9% |
| Taxes | 450/3 | €25,808 | €78,538 | +€52,729 | +204% |
| Remuneration and social security | 454/9 | €279,469 | €260,114 | -€19,355 | -6.9% |
| Other amounts payable | 47/48 | €281,023 | €324,249 | +€43,225 | +15.4% |
| Accrued charges and deferred income | 492/3 | €75,660 | €84,039 | +€8,378 | +11.1% |
| Remuneration, social security and pensions | 62 | €611,990 | €589,192 | -€22,798 | -3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €433 | €217 | -€217 | -50.0% |
| Other operating charges | 640/8 | €77,672 | €115,083 | +€37,411 | +48.2% |
| Gross operating margin | 9900 | €794,593 | €891,600 | +€97,007 | +12.2% |
| Operating profit (loss) | 9901 | €104,497 | €187,108 | +€82,611 | +79.1% |
| Financial income | 75/76B | €3,075 | €4,031 | +€956 | +31.1% |
| Recurring financial income | 75 | €3,075 | €4,031 | +€956 | +31.1% |
| Financial charges | 65/66B | €4,505 | €7,930 | +€3,425 | +76.0% |
| Recurring financial charges | 65 | €4,505 | €7,930 | +€3,425 | +76.0% |
| Profit (loss) for the period before taxes | 9903 | €103,067 | €183,209 | +€80,142 | +77.8% |
| Income taxes | 67/77 | €27,789 | €51,679 | +€23,889 | +86.0% |
| Profit (loss) for the period | 9904 | €75,278 | €131,530 | +€56,252 | +74.7% |
| Profit (loss) for the period to be appropriated | 9905 | €75,278 | €131,530 | +€56,252 | +74.7% |
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 15 October 2026 via checked.be.