I.G.M.S: 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.M.S
Largest movements
- Receivables within one year +€36,594
up €36,594 (+33,921%), from €108 to €36,702
of which Trade receivables: +€35,998
- Cash -€17,156
down €17,156 (-50.7%), from €33,832 to €16,675
mainly Receivables within one year (-€36,594) and Contributions, distributions and other (-€7,500)
- Tangible fixed assets -€8,309
no longer reported in 2025 (was €8,309)
- Tax, wage and social debts +€6,000
up €6,000 (+44.2%), from €13,563 to €19,563
- Other debts +€3,889
up €3,889 (+190%), from €2,046 to €5,935
- Trade debts +€3,383
up €3,383 (+2,222%), from €152 to €3,535
- Reserves -€2,143
down €2,143 (-8.5%), from €25,088 to €22,946
of which Distributable reserves: -€2,143
- Gross operating margin -€4,324
down €4,324 (-21.0%), from €20,560 to €16,236
- Purchases and services +€4,324
up €4,324 (+14.2%), from €30,440 to €34,764
- Taxes -€2,500
down €2,500 (-71.4%), from €3,500 to €1,000
- Other operating charges +€982
up €982 (+191%), from €515 to €1,497
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 | €42,836 | €53,965 | +€11,129 | +26.0% |
| Fixed assets | 21/28 | €8,897 | €587 | -€8,309 | -93.4% |
| Tangible fixed assets | 22/27 | €8,309 | - | -€8,309 | |
| Furniture and vehicles | 24 | €8,309 | - | -€8,309 | |
| Financial fixed assets | 28 | €587 | €587 | = | 0.0% |
| Current assets | 29/58 | €33,939 | €53,377 | +€19,438 | +57.3% |
| Amounts receivable within one year | 40/41 | €108 | €36,702 | +€36,594 | +33,921% |
| Trade receivables | 40 | - | €35,998 | +€35,998 | |
| Other amounts receivable | 41 | €108 | €704 | +€597 | +553% |
| Cash at bank and in hand | 54/58 | €33,832 | €16,675 | -€17,156 | -50.7% |
| Total equity and liabilities | 10/49 | €42,836 | €53,965 | +€11,129 | +26.0% |
| Equity | 10/15 | €27,075 | €24,932 | -€2,143 | -7.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €25,088 | €22,946 | -€2,143 | -8.5% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €23,188 | €21,046 | -€2,143 | -9.2% |
| Profit (loss) carried forward | 14 | €987 | €987 | = | 0.0% |
| Amounts payable | 17/49 | €15,761 | €29,033 | +€13,272 | +84.2% |
| Amounts payable within one year | 42/48 | €15,761 | €29,033 | +€13,272 | +84.2% |
| Trade debts | 44 | €152 | €3,535 | +€3,383 | +2,222% |
| Suppliers | 440/4 | €152 | €3,535 | +€3,383 | +2,222% |
| Taxes, remuneration and social security | 45 | €13,563 | €19,563 | +€6,000 | +44.2% |
| Remuneration and social security | 454/9 | €13,563 | €19,563 | +€6,000 | +44.2% |
| Other amounts payable | 47/48 | €2,046 | €5,935 | +€3,889 | +190% |
| Turnover | 70 | €51,000 | €51,000 | = | 0.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €30,440 | €34,764 | +€4,324 | +14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,309 | €8,309 | = | 0.0% |
| Other operating charges | 640/8 | €515 | €1,497 | +€982 | +191% |
| Non-recurring operating charges | 66A | €102 | - | -€102 | |
| Gross operating margin | 9900 | €20,560 | €16,236 | -€4,324 | -21.0% |
| Operating profit (loss) | 9901 | €11,634 | €6,429 | -€5,204 | -44.7% |
| Financial charges | 65/66B | €106 | €72 | -€34 | -32.0% |
| Recurring financial charges | 65 | €106 | €72 | -€34 | -32.0% |
| Profit (loss) for the period before taxes | 9903 | €11,527 | €6,357 | -€5,170 | -44.9% |
| Income taxes | 67/77 | €3,500 | €1,000 | -€2,500 | -71.4% |
| Profit (loss) for the period | 9904 | €8,027 | €5,357 | -€2,670 | -33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €8,027 | €5,357 | -€2,670 | -33.3% |
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 27 October 2026 via checked.be.