I-LOGICS: 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-LOGICS
Largest movements
- Receivables within one year -€101,421
down €101,421 (-27.1%), from €374,260 to €272,839
of which Trade receivables: -€181,717
- Tangible fixed assets -€50,240
down €50,240 (-34.9%), from €144,002 to €93,762
of which Furniture and vehicles: -€32,028
- Stocks and contracts -€48,785
down €48,785 (-58.5%), from €83,408 to €34,623
of which Contracts in progress: -€36,583
- Cash +€48,127
up €48,127 (+1888.8%), from €2,548 to €50,675
mainly Receivables within one year (+€101,421) and Stocks and contracts (+€48,785)
- Trade debts -€110,596
down €110,596 (-29.6%), from €374,069 to €263,472
- Debts after one year -€43,577
down €43,577 (-32.2%), from €135,343 to €91,767
- Tax, wage and social debts +€19,356
up €19,356 (+36.0%), from €53,778 to €73,134
of which Remuneration and social security: +€13,635
- Current portion of long-term debt -€7,879
down €7,879 (-95.8%), from €8,223 to €343
- Short-term financial debts -€7,439
down €7,439 (-100.0%), from €7,439 to €0
- Staff costs -€178,709
down €178,709 (-51.2%), from €349,295 to €170,586
- Gross operating margin -€123,445
down €123,445 (-34.3%), from €359,950 to €236,505
- Depreciation +€27,727
up €27,727 (+308.0%), from €9,004 to €36,731
- Taxes +€17,650
up €17,650 (+681.0%), from €2,592 to €20,241
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.
Cash bridge derived
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 | €617,449 | €465,693 | -€151,756 | -24.6% |
| Formation expenses | 20 | €8,956 | €7,165 | -€1,791 | -20.0% |
| Fixed assets | 21/28 | €144,670 | €94,431 | -€50,240 | -34.7% |
| Tangible fixed assets | 22/27 | €144,002 | €93,762 | -€50,240 | -34.9% |
| Plant, machinery and equipment | 23 | €33,235 | €19,724 | -€13,512 | -40.7% |
| Furniture and vehicles | 24 | €85,293 | €53,264 | -€32,028 | -37.6% |
| Other tangible fixed assets | 26 | €25,473 | €20,774 | -€4,700 | -18.4% |
| Financial fixed assets | 28 | €669 | €669 | = | 0.0% |
| Current assets | 29/58 | €463,823 | €364,098 | -€99,725 | -21.5% |
| Stocks and contracts in progress | 3 | €83,408 | €34,623 | -€48,785 | -58.5% |
| Stocks | 30/36 | €46,826 | €34,623 | -€12,203 | -26.1% |
| Contracts in progress | 37 | €36,583 | €0 | -€36,583 | -100.0% |
| Amounts receivable within one year | 40/41 | €374,260 | €272,839 | -€101,421 | -27.1% |
| Trade receivables | 40 | €361,041 | €179,324 | -€181,717 | -50.3% |
| Other amounts receivable | 41 | €13,219 | €93,515 | +€80,296 | +607.4% |
| Cash at bank and in hand | 54/58 | €2,548 | €50,675 | +€48,127 | +1888.8% |
| Deferred charges and accrued income | 490/1 | €3,607 | €5,960 | +€2,353 | +65.2% |
| Total equity and liabilities | 10/49 | €617,449 | €465,693 | -€151,756 | -24.6% |
| Equity | 10/15 | €17,514 | €17,557 | +€42 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €26,860 | €26,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €26,860 | €26,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,946 | -€27,903 | +€42 | +0.2% |
| Amounts payable | 17/49 | €599,935 | €448,136 | -€151,798 | -25.3% |
| Amounts payable after more than one year | 17 | €135,343 | €91,767 | -€43,577 | -32.2% |
| Financial debts | 170/4 | €135,343 | €91,767 | -€43,577 | -32.2% |
| Amounts payable within one year | 42/48 | €462,051 | €353,845 | -€108,206 | -23.4% |
| Current portion of amounts payable after more than one year | 42 | €8,223 | €343 | -€7,879 | -95.8% |
| Financial debts | 43 | €7,439 | €0 | -€7,439 | -100.0% |
| Credit institutions | 430/8 | €7,439 | €0 | -€7,439 | -100.0% |
| Trade debts | 44 | €374,069 | €263,472 | -€110,596 | -29.6% |
| Suppliers | 440/4 | €374,069 | €263,472 | -€110,596 | -29.6% |
| Advances received on contracts in progress | 46 | €2,723 | €0 | -€2,723 | -100.0% |
| Taxes, remuneration and social security | 45 | €53,778 | €73,134 | +€19,356 | +36.0% |
| Taxes | 450/3 | €41,087 | €46,808 | +€5,721 | +13.9% |
| Remuneration and social security | 454/9 | €12,691 | €26,326 | +€13,635 | +107.4% |
| Other amounts payable | 47/48 | €15,821 | €16,896 | +€1,075 | +6.8% |
| Accrued charges and deferred income | 492/3 | €2,540 | €2,524 | -€16 | -0.6% |
| Non-recurring operating income | 76A | €0 | €1,029 | +€1,029 | |
| Remuneration, social security and pensions | 62 | €349,295 | €170,586 | -€178,709 | -51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,004 | €36,731 | +€27,727 | +308.0% |
| Other operating charges | 640/8 | €2,608 | €3,196 | +€589 | +22.6% |
| Operating charges capitalised as restructuring costs | 649 | -€8,956 | €0 | +€8,956 | |
| Gross operating margin | 9900 | €359,950 | €236,505 | -€123,445 | -34.3% |
| Operating profit (loss) | 9901 | €7,999 | €25,992 | +€17,992 | +224.9% |
| Financial income | 75/76B | €2,244 | €1,069 | -€1,175 | -52.4% |
| Recurring financial income | 75 | €2,244 | €1,069 | -€1,175 | -52.4% |
| Financial charges | 65/66B | €6,459 | €6,777 | +€318 | +4.9% |
| Recurring financial charges | 65 | €6,459 | €6,777 | +€318 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €3,784 | €20,284 | +€16,500 | +436.1% |
| Income taxes | 67/77 | €2,592 | €20,241 | +€17,650 | +681.0% |
| Profit (loss) for the period | 9904 | €1,192 | €42 | -€1,150 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €1,192 | €42 | -€1,150 | -96.5% |
Source: filed annual accounts (NBB), financial years ended 1 July 2024 and 1 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.