I-Label: 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-Label
Largest movements
- Receivables after one year -€300,000
down €300,000 (-100%), from €300,000 to €0
- Tangible fixed assets -€210,868
down €210,868 (-79.6%), from €264,772 to €53,903
of which Other tangible fixed assets: -€207,175
- Current investments -€159,124
down €159,124 (-52.6%), from €302,568 to €143,444
- Cash -€27,950
down €27,950 (-34.5%), from €81,071 to €53,122
mainly Contributions, distributions and other (-€905,490) and Smaller working-capital items (-€2,039)
- Stocks and contracts -€20,089
down €20,089 (-15.0%), from €133,581 to €113,493
- Reserves -€740,628
down €740,628 (-55.0%), from €1.3m to €605,092
- Gross operating margin -€32,611
down €32,611 (-6.9%), from €475,342 to €442,731
- Depreciation -€23,441
down €23,441 (-44.8%), from €52,326 to €28,885
- Taxes -€11,372
down €11,372 (-13.2%), from €85,899 to €74,528
- Staff costs +€10,184
up €10,184 (+6.1%), from €168,010 to €178,194
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 | €1,419,304 | €688,795 | -€730,509 | -51.5% |
| Fixed assets | 21/28 | €277,303 | €72,892 | -€204,411 | -73.7% |
| Intangible fixed assets | 21 | €8,642 | €16,869 | +€8,227 | +95.2% |
| Tangible fixed assets | 22/27 | €264,772 | €53,903 | -€210,868 | -79.6% |
| Plant, machinery and equipment | 23 | €1,864 | €3,120 | +€1,256 | +67.4% |
| Furniture and vehicles | 24 | €49,960 | €45,010 | -€4,949 | -9.9% |
| Other tangible fixed assets | 26 | €212,948 | €5,773 | -€207,175 | -97.3% |
| Financial fixed assets | 28 | €3,889 | €2,120 | -€1,770 | -45.5% |
| Current assets | 29/58 | €1,142,001 | €615,903 | -€526,099 | -46.1% |
| Amounts receivable after more than one year | 29 | €300,000 | €0 | -€300,000 | -100% |
| Other amounts receivable | 291 | €300,000 | €0 | -€300,000 | -100% |
| Stocks and contracts in progress | 3 | €133,581 | €113,493 | -€20,089 | -15.0% |
| Stocks | 30/36 | €133,581 | €113,493 | -€20,089 | -15.0% |
| Amounts receivable within one year | 40/41 | €316,592 | €296,687 | -€19,905 | -6.3% |
| Trade receivables | 40 | €127,493 | €142,359 | +€14,865 | +11.7% |
| Other amounts receivable | 41 | €189,099 | €154,329 | -€34,770 | -18.4% |
| Current investments | 50/53 | €302,568 | €143,444 | -€159,124 | -52.6% |
| Cash at bank and in hand | 54/58 | €81,071 | €53,122 | -€27,950 | -34.5% |
| Deferred charges and accrued income | 490/1 | €8,189 | €9,157 | +€968 | +11.8% |
| Total equity and liabilities | 10/49 | €1,419,304 | €688,795 | -€730,509 | -51.5% |
| Equity | 10/15 | €1,358,120 | €617,492 | -€740,628 | -54.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,345,720 | €605,092 | -€740,628 | -55.0% |
| Distributable reserves | 133 | €1,345,720 | €605,092 | -€740,628 | -55.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €61,184 | €71,303 | +€10,119 | +16.5% |
| Amounts payable within one year | 42/48 | €61,184 | €71,303 | +€10,119 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €842 | €0 | -€842 | -100% |
| Trade debts | 44 | €33,321 | €45,352 | +€12,031 | +36.1% |
| Suppliers | 440/4 | €33,321 | €45,352 | +€12,031 | +36.1% |
| Taxes, remuneration and social security | 45 | €24,172 | €23,295 | -€878 | -3.6% |
| Taxes | 450/3 | €3,641 | €2,064 | -€1,577 | -43.3% |
| Remuneration and social security | 454/9 | €20,531 | €21,231 | +€699 | +3.4% |
| Other amounts payable | 47/48 | €2,849 | €2,656 | -€193 | -6.8% |
| Remuneration, social security and pensions | 62 | €168,010 | €178,194 | +€10,184 | +6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,326 | €28,885 | -€23,441 | -44.8% |
| Other operating charges | 640/8 | €4,563 | €8,910 | +€4,347 | +95.3% |
| Gross operating margin | 9900 | €475,342 | €442,731 | -€32,611 | -6.9% |
| Operating profit (loss) | 9901 | €250,444 | €226,742 | -€23,702 | -9.5% |
| Financial income | 75/76B | €18,280 | €16,965 | -€1,315 | -7.2% |
| Recurring financial income | 75 | €18,280 | €16,965 | -€1,315 | -7.2% |
| Financial charges | 65/66B | €226 | €4,318 | +€4,092 | +1,811% |
| Recurring financial charges | 65 | €226 | €4,318 | +€4,092 | +1,811% |
| Profit (loss) for the period before taxes | 9903 | €268,499 | €239,390 | -€29,109 | -10.8% |
| Income taxes | 67/77 | €85,899 | €74,528 | -€11,372 | -13.2% |
| Profit (loss) for the period | 9904 | €182,599 | €164,862 | -€17,737 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €182,599 | €164,862 | -€17,737 | -9.7% |
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 16 October 2026 via checked.be.