I-PHANET: what changed
Two fiscal 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-PHANET
Largest movements
- Receivables within one year +€52,208
up €52,208 (+9.4%), from €556,700 to €608,908
of which Other amounts receivable: +€37,212
- Cash +€23,187
up €23,187 (+21.9%), from €106,001 to €129,188
mainly Net result for the year (+€72,945) and Stocks and contracts (+€15,563)
- Stocks and contracts -€15,563
down €15,563 (-12.1%), from €128,594 to €113,032
- Reserves +€73,000
up €73,000 (+11.6%), from €627,489 to €700,489
of which Distributable reserves: +€73,000
- Trade debts -€13,587
down €13,587 (-16.3%), from €83,288 to €69,701
- Gross operating margin +€38,786
up €38,786 (+20.3%), from €190,751 to €229,537
- Staff costs +€10,654
up €10,654 (+9.3%), from €115,028 to €125,681
- Taxes +€7,669
up €7,669 (+41.6%), from €18,450 to €26,119
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 | €795,285 | €854,717 | +€59,432 | +7.5% |
| Fixed assets | 21/28 | €3,230 | €2,917 | -€313 | -9.7% |
| Intangible fixed assets | 21 | - | €1,259 | +€1,259 | |
| Tangible fixed assets | 22/27 | €2,858 | €1,286 | -€1,572 | -55.0% |
| Plant, machinery and equipment | 23 | €1,787 | €1,179 | -€608 | -34.0% |
| Furniture and vehicles | 24 | €1,071 | €106 | -€965 | -90.1% |
| Financial fixed assets | 28 | €372 | €372 | = | 0.0% |
| Current assets | 29/58 | €792,055 | €851,800 | +€59,745 | +7.5% |
| Stocks and contracts in progress | 3 | €128,594 | €113,032 | -€15,563 | -12.1% |
| Stocks | 30/36 | €128,594 | €113,032 | -€15,563 | -12.1% |
| Amounts receivable within one year | 40/41 | €556,700 | €608,908 | +€52,208 | +9.4% |
| Trade receivables | 40 | €137,199 | €152,195 | +€14,996 | +10.9% |
| Other amounts receivable | 41 | €419,501 | €456,713 | +€37,212 | +8.9% |
| Cash at bank and in hand | 54/58 | €106,001 | €129,188 | +€23,187 | +21.9% |
| Deferred charges and accrued income | 490/1 | €759 | €672 | -€87 | -11.4% |
| Total equity and liabilities | 10/49 | €795,285 | €854,717 | +€59,432 | +7.5% |
| Equity | 10/15 | €689,802 | €762,748 | +€72,945 | +10.6% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €627,489 | €700,489 | +€73,000 | +11.6% |
| Non-distributable reserves | 130/1 | €5,489 | €5,489 | = | 0.0% |
| Legal reserve | 130 | €5,489 | €5,489 | = | 0.0% |
| Distributable reserves | 133 | €622,000 | €695,000 | +€73,000 | +11.7% |
| Profit (loss) carried forward | 14 | €313 | €258 | -€55 | -17.4% |
| Amounts payable | 17/49 | €105,483 | €91,969 | -€13,513 | -12.8% |
| Amounts payable after more than one year | 17 | €3,071 | €3,071 | = | 0.0% |
| Financial debts | 170/4 | €3,071 | €3,071 | = | 0.0% |
| Amounts payable within one year | 42/48 | €102,411 | €88,898 | -€13,513 | -13.2% |
| Trade debts | 44 | €83,288 | €69,701 | -€13,587 | -16.3% |
| Suppliers | 440/4 | €83,288 | €69,701 | -€13,587 | -16.3% |
| Taxes, remuneration and social security | 45 | €19,110 | €19,183 | +€73 | +0.4% |
| Taxes | 450/3 | €2,838 | €3,104 | +€266 | +9.4% |
| Remuneration and social security | 454/9 | €16,272 | €16,079 | -€193 | -1.2% |
| Other amounts payable | 47/48 | €14 | €14 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €115,028 | €125,681 | +€10,654 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,993 | €1,688 | -€305 | -15.3% |
| Other operating charges | 640/8 | €437 | €326 | -€111 | -25.5% |
| Gross operating margin | 9900 | €190,751 | €229,537 | +€38,786 | +20.3% |
| Operating profit (loss) | 9901 | €73,293 | €101,842 | +€28,549 | +39.0% |
| Financial income | 75/76B | €284 | €550 | +€266 | +93.8% |
| Recurring financial income | 75 | €284 | €550 | +€266 | +93.8% |
| Financial charges | 65/66B | €2,383 | €3,328 | +€945 | +39.6% |
| Recurring financial charges | 65 | €2,383 | €3,328 | +€945 | +39.6% |
| Profit (loss) for the period before taxes | 9903 | €71,194 | €99,064 | +€27,870 | +39.1% |
| Income taxes | 67/77 | €18,450 | €26,119 | +€7,669 | +41.6% |
| Profit (loss) for the period | 9904 | €52,744 | €72,945 | +€20,202 | +38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €52,744 | €72,945 | +€20,202 | +38.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.