I.G.I.: 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.I.
Largest movements
- Stocks and contracts -€6,029
down €6,029 (-10.7%), from €56,598 to €50,569
- Receivables within one year +€4,787
up €4,787 (+2.5%), from €189,810 to €194,597
of which Other amounts receivable: +€2,829
- Short-term financial debts -€39,319
down €39,319 (-33.7%), from €116,602 to €77,283
- Profit (loss) carried forward +€29,878
up €29,878 (+67.3%), from -€44,414 to -€14,536
- Trade debts +€8,711
up €8,711 (+324%), from €2,690 to €11,401
- Gross operating margin +€32,214
up €32,214 (+65.6%), from €49,135 to €81,350
- Financial charges -€6,324
down €6,324 (-24.5%), from €25,848 to €19,524
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
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 | €249,755 | €248,513 | -€1,242 | -0.5% |
| Fixed assets | 21/28 | €3,347 | €3,347 | = | 0.0% |
| Financial fixed assets | 28 | €3,347 | €3,347 | = | 0.0% |
| Current assets | 29/58 | €246,408 | €245,166 | -€1,242 | -0.5% |
| Stocks and contracts in progress | 3 | €56,598 | €50,569 | -€6,029 | -10.7% |
| Stocks | 30/36 | €56,598 | €50,569 | -€6,029 | -10.7% |
| Amounts receivable within one year | 40/41 | €189,810 | €194,597 | +€4,787 | +2.5% |
| Trade receivables | 40 | €189,080 | €191,038 | +€1,958 | +1.0% |
| Other amounts receivable | 41 | €730 | €3,559 | +€2,829 | +388% |
| Total equity and liabilities | 10/49 | €249,755 | €248,513 | -€1,242 | -0.5% |
| Equity | 10/15 | €23,786 | €53,664 | +€29,878 | +126% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Contributions outside capital | 11 | €62,000 | - | -€62,000 | |
| Other | 1109/19 | €62,000 | - | -€62,000 | |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Legal reserve | 130 | €0 | - | = | |
| Distributable reserves | 133 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,414 | -€14,536 | +€29,878 | +67.3% |
| Amounts payable | 17/49 | €225,969 | €194,849 | -€31,120 | -13.8% |
| Amounts payable within one year | 42/48 | €223,026 | €192,216 | -€30,810 | -13.8% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 43 | €116,602 | €77,283 | -€39,319 | -33.7% |
| Credit institutions | 430/8 | €116,602 | €77,283 | -€39,319 | -33.7% |
| Trade debts | 44 | €2,690 | €11,401 | +€8,711 | +324% |
| Suppliers | 440/4 | €2,690 | €11,401 | +€8,711 | +324% |
| Taxes, remuneration and social security | 45 | €50 | €0 | -€50 | -100% |
| Taxes | 450/3 | €50 | €0 | -€50 | -100% |
| Other amounts payable | 47/48 | €3,685 | €3,533 | -€152 | -4.1% |
| Accrued charges and deferred income | 492/3 | €2,943 | €2,633 | -€310 | -10.5% |
| Other operating charges | 640/8 | €31,892 | €31,964 | +€72 | +0.2% |
| Gross operating margin | 9900 | €49,135 | €81,350 | +€32,214 | +65.6% |
| Operating profit (loss) | 9901 | €17,243 | €49,386 | +€32,142 | +186% |
| Financial income | 75/76B | €88 | €16 | -€72 | -81.9% |
| Recurring financial income | 75 | €88 | €16 | -€72 | -81.9% |
| Financial charges | 65/66B | €25,848 | €19,524 | -€6,324 | -24.5% |
| Recurring financial charges | 65 | €25,848 | €19,524 | -€6,324 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | -€8,517 | €29,878 | +€38,395 | |
| Profit (loss) for the period | 9904 | -€8,517 | €29,878 | +€38,395 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,517 | €29,878 | +€38,395 |
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 19 October 2026 via checked.be.