I.K.P.: 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.K.P.
Largest movements
- Tangible fixed assets +€2.2m
up €2.2m (+850%), from €259,333 to €2.5m
- Stocks and contracts -€1.6m
down €1.6m (-66.3%), from €2.4m to €798,024
- Debts after one year +€2.1m
new in 2025: €2.1m
of which Financial debts: +€1.5m
- Short-term financial debts -€1.1m
down €1.1m (-55.3%), from €2.0m to €875,500
- Other debts -€305,341
down €305,341 (-100%), from €305,341 to €0
- Profit (loss) carried forward -€109,131
down €109,131 (-1,491%), from -€7,319 to -€116,450
- Current portion of long-term debt +€51,396
new in 2025: €51,396
- Depreciation +€148,167
up €148,167 (+31,128%), from €476 to €148,643
- Gross operating margin +€104,064
up €104,064 (+372%), from €27,948 to €132,012
- Financial charges -€17,997
down €17,997 (-18.5%), from €97,395 to €79,397
- Other operating charges +€4,719
up €4,719 (+56.0%), from €8,431 to €13,150
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 | €2,635,406 | €3,307,909 | +€672,503 | +25.5% |
| Fixed assets | 21/28 | €259,333 | €2,463,644 | +€2.2m | +850% |
| Tangible fixed assets | 22/27 | €259,333 | €2,463,644 | +€2.2m | +850% |
| Land and buildings | 22 | €259,333 | €2,463,644 | +€2.2m | +850% |
| Current assets | 29/58 | €2,376,073 | €844,265 | -€1.5m | -64.5% |
| Stocks and contracts in progress | 3 | €2,368,790 | €798,024 | -€1.6m | -66.3% |
| Stocks | 30/36 | €2,368,790 | €798,024 | -€1.6m | -66.3% |
| Amounts receivable within one year | 40/41 | €2,828 | €14,232 | +€11,403 | +403% |
| Trade receivables | 40 | €2,828 | €14,232 | +€11,403 | +403% |
| Cash at bank and in hand | 54/58 | €609 | €14,835 | +€14,226 | +2,337% |
| Deferred charges and accrued income | 490/1 | €3,846 | €17,175 | +€13,329 | +347% |
| Total equity and liabilities | 10/49 | €2,635,406 | €3,307,909 | +€672,503 | +25.5% |
| Equity | 10/15 | €347,662 | €238,531 | -€109,131 | -31.4% |
| Contributions | 10/11 | €118,032 | €118,032 | = | 0.0% |
| Revaluation surpluses | 12 | €236,949 | €236,949 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,319 | -€116,450 | -€109,131 | -1,491% |
| Amounts payable | 17/49 | €2,287,744 | €3,069,378 | +€781,634 | +34.2% |
| Amounts payable after more than one year | 17 | - | €2,098,074 | +€2.1m | |
| Financial debts | 170/4 | - | €1,463,233 | +€1.5m | |
| Other amounts payable | 178/9 | - | €634,841 | +€634,841 | |
| Amounts payable within one year | 42/48 | €2,264,824 | €942,515 | -€1.3m | -58.4% |
| Current portion of amounts payable after more than one year | 42 | - | €51,396 | +€51,396 | |
| Financial debts | 43 | €1,957,381 | €875,500 | -€1.1m | -55.3% |
| Credit institutions | 430/8 | €1,957,381 | €875,500 | -€1.1m | -55.3% |
| Trade debts | 44 | €110 | €13,650 | +€13,540 | +12,280% |
| Suppliers | 440/4 | €110 | €13,650 | +€13,540 | +12,280% |
| Taxes, remuneration and social security | 45 | €1,992 | €1,969 | -€23 | -1.1% |
| Taxes | 450/3 | €1,992 | €1,969 | -€23 | -1.1% |
| Other amounts payable | 47/48 | €305,341 | €0 | -€305,341 | -100% |
| Accrued charges and deferred income | 492/3 | €22,921 | €28,788 | +€5,868 | +25.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €476 | €148,643 | +€148,167 | +31,128% |
| Other operating charges | 640/8 | €8,431 | €13,150 | +€4,719 | +56.0% |
| Gross operating margin | 9900 | €27,948 | €132,012 | +€104,064 | +372% |
| Operating profit (loss) | 9901 | €19,041 | -€29,781 | -€48,822 | |
| Financial income | 75/76B | €584 | €47 | -€537 | -91.9% |
| Recurring financial income | 75 | €584 | €47 | -€537 | -91.9% |
| Financial charges | 65/66B | €97,395 | €79,397 | -€17,997 | -18.5% |
| Recurring financial charges | 65 | €97,395 | €79,397 | -€17,997 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | -€77,770 | -€109,131 | -€31,361 | -40.3% |
| Profit (loss) for the period | 9904 | -€77,770 | -€109,131 | -€31,361 | -40.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,770 | -€109,131 | -€31,361 | -40.3% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.