I-KEI: 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-KEI
Largest movements
- Receivables after one year +€12,974
up €12,974 (+11.4%), from €113,515 to €126,488
of which Trade receivables: +€14,299
- Tangible fixed assets -€10,132
down €10,132 (-21.8%), from €46,377 to €36,245
of which Plant, machinery and equipment: -€6,729
- Deferred charges and accrued income +€8,163
up €8,163 (+258,325%), from €3 to €8,166
- Receivables within one year +€3,450
up €3,450 (+15.6%), from €22,118 to €25,568
of which Other amounts receivable: +€3,450
- Reserves +€16,500
up €16,500 (+19.7%), from €83,797 to €100,297
- Tax, wage and social debts -€2,453
down €2,453 (-29.0%), from €8,471 to €6,018
of which Taxes: -€2,758
- Gross operating margin -€8,342
down €8,342 (-18.0%), from €46,253 to €37,911
- Depreciation -€6,723
down €6,723 (-34.7%), from €19,384 to €12,661
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 | €204,162 | €218,349 | +€14,188 | +6.9% |
| Fixed assets | 21/28 | €46,377 | €36,245 | -€10,132 | -21.8% |
| Tangible fixed assets | 22/27 | €46,377 | €36,245 | -€10,132 | -21.8% |
| Land and buildings | 22 | €34,432 | €30,245 | -€4,187 | -12.2% |
| Plant, machinery and equipment | 23 | €7,420 | €691 | -€6,729 | -90.7% |
| Furniture and vehicles | 24 | €4,525 | €5,309 | +€784 | +17.3% |
| Current assets | 29/58 | €157,785 | €182,105 | +€24,320 | +15.4% |
| Amounts receivable after more than one year | 29 | €113,515 | €126,488 | +€12,974 | +11.4% |
| Trade receivables | 290 | €102,988 | €117,287 | +€14,299 | +13.9% |
| Other amounts receivable | 291 | €10,527 | €9,201 | -€1,325 | -12.6% |
| Amounts receivable within one year | 40/41 | €22,118 | €25,568 | +€3,450 | +15.6% |
| Trade receivables | 40 | €16,880 | €16,880 | = | 0.0% |
| Other amounts receivable | 41 | €5,238 | €8,688 | +€3,450 | +65.9% |
| Cash at bank and in hand | 54/58 | €22,149 | €21,883 | -€266 | -1.2% |
| Deferred charges and accrued income | 490/1 | €3 | €8,166 | +€8,163 | +258,325% |
| Total equity and liabilities | 10/49 | €204,162 | €218,349 | +€14,188 | +6.9% |
| Equity | 10/15 | €174,800 | €191,441 | +€16,641 | +9.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €83,797 | €100,297 | +€16,500 | +19.7% |
| Distributable reserves | 133 | €83,797 | €100,297 | +€16,500 | +19.7% |
| Profit (loss) carried forward | 14 | €84,802 | €84,943 | +€141 | +0.2% |
| Provisions and deferred taxes | 16 | €20,000 | €20,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €20,000 | €20,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable | 17/49 | €9,362 | €6,909 | -€2,453 | -26.2% |
| Amounts payable within one year | 42/48 | €9,362 | €6,909 | -€2,453 | -26.2% |
| Current portion of amounts payable after more than one year | 42 | - | €891 | +€891 | |
| Financial debts | 43 | €891 | - | -€891 | |
| Credit institutions | 430/8 | €891 | - | -€891 | |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €8,471 | €6,018 | -€2,453 | -29.0% |
| Taxes | 450/3 | €8,471 | €5,713 | -€2,758 | -32.6% |
| Remuneration and social security | 454/9 | - | €305 | +€305 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,384 | €12,661 | -€6,723 | -34.7% |
| Other operating charges | 640/8 | €387 | €458 | +€70 | +18.2% |
| Gross operating margin | 9900 | €46,253 | €37,911 | -€8,342 | -18.0% |
| Operating profit (loss) | 9901 | €26,482 | €24,792 | -€1,690 | -6.4% |
| Financial income | 75/76B | €34 | €236 | +€202 | +597% |
| Recurring financial income | 75 | €34 | €236 | +€202 | +597% |
| Financial charges | 65/66B | €278 | €299 | +€21 | +7.7% |
| Recurring financial charges | 65 | €278 | €299 | +€21 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €26,238 | €24,729 | -€1,509 | -5.8% |
| Income taxes | 67/77 | €8,188 | €8,088 | -€100 | -1.2% |
| Profit (loss) for the period | 9904 | €18,050 | €16,641 | -€1,409 | -7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €18,050 | €16,641 | -€1,409 | -7.8% |
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 17 October 2026 via checked.be.