I2R Capital: 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.
What changed
I2R Capital
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €1.7m-€523,969
Equity
€66.3m
2024 · €65.1m+€1.2m
Cash
€1.6m
2024 · €1.3m+€324,673
Balance sheet total
€78.5m
2024 · €75.8m+€2.7m
Largest movements
Assets
- Receivables after one year +€2.0m
up €2.0m (+193.3%), from €1.0m to €3.1m
Equity and liabilities
- Accrued charges and deferred income +€1.3m
up €1.3m (+336.1%), from €384,718 to €1.7m
- Profit (loss) carried forward +€1.2m
up €1.2m (+1.9%), from €64.2m to €65.4m
Income statement
No income-statement line moved by more than 1% of the activity.
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.
Result 2024
€1.7m
Staff costs
-€307
Depreciation
+€1,849
Provisions
-€780,048
Other operating charges
-€582
Other operating items
-€47,639
Financial income
-€155,260
Financial charges
+€69,718
Taxes
+€388,299
Result 2025
€1.2m
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.
From operations
+€1.5m
Investment
-€698,835
Financing
-€505,000
Cash 2024
€1.3m
From operations (derived)
+€1.5m
Net result for the year
+€1.2m
Depreciation
+€11,728
Receivables after one year
-€2.0m
Receivables within one year
+€132,011
Deferred charges and accrued income
+€193,316
Provisions
+€668,272
Trade debts
+€25,217
Tax, wage and social debts
-€4,952
Other debts
+€5,093
Accrued charges and deferred income
+€1.3m
Investment (derived)
-€698,835
Current investments
-€698,835
Financing
-€505,000
Debts after one year
-€505,000
Cash 2025
€1.6m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,771,212 | €78,474,753 | +€2.7m | +3.6% |
| Fixed assets | 21/28 | €4,131,931 | €4,120,203 | -€11,728 | -0.3% |
| Tangible fixed assets | 22/27 | €210,324 | €198,595 | -€11,728 | -5.6% |
| Land and buildings | 22 | €208,481 | €198,595 | -€9,886 | -4.7% |
| Plant, machinery and equipment | 23 | €1,842 | - | -€1,842 | |
| Financial fixed assets | 28 | €3,921,608 | €3,921,608 | = | 0.0% |
| Affiliated companies | 280/1 | €3,921,608 | €3,921,608 | = | 0.0% |
| Participating interests | 280 | €3,921,608 | €3,921,608 | = | 0.0% |
| Current assets | 29/58 | €71,639,281 | €74,354,550 | +€2.7m | +3.8% |
| Amounts receivable after more than one year | 29 | €1,043,367 | €3,060,456 | +€2.0m | +193.3% |
| Other amounts receivable | 291 | €1,043,367 | €3,060,456 | +€2.0m | +193.3% |
| Amounts receivable within one year | 40/41 | €550,759 | €418,747 | -€132,011 | -24.0% |
| Trade receivables | 40 | €112,627 | €91,792 | -€20,835 | -18.5% |
| Other amounts receivable | 41 | €438,131 | €326,955 | -€111,177 | -25.4% |
| Current investments | 50/53 | €68,567,785 | €69,266,620 | +€698,835 | +1.0% |
| Other investments | 51/53 | €68,567,785 | €69,266,620 | +€698,835 | +1.0% |
| Cash at bank and in hand | 54/58 | €1,281,847 | €1,606,520 | +€324,673 | +25.3% |
| Deferred charges and accrued income | 490/1 | €195,523 | €2,207 | -€193,316 | -98.9% |
| Total equity and liabilities | 10/49 | €75,771,212 | €78,474,753 | +€2.7m | +3.6% |
| Equity | 10/15 | €65,063,948 | €66,285,992 | +€1.2m | +1.9% |
| Contributions | 10/11 | €779,782 | €779,782 | = | 0.0% |
| Capital | 10 | €779,782 | €779,782 | = | 0.0% |
| Issued capital | 100 | €779,782 | €779,782 | = | 0.0% |
| Reserves | 13 | €78,164 | €78,164 | = | 0.0% |
| Non-distributable reserves | 130/1 | €78,010 | €78,010 | = | 0.0% |
| Legal reserve | 130 | €77,978 | €77,978 | = | 0.0% |
| Reserves not available under the articles | 1311 | €32 | €32 | = | 0.0% |
| Tax-exempt reserves | 132 | €68 | €68 | = | 0.0% |
| Distributable reserves | 133 | €85 | €85 | = | 0.0% |
| Profit (loss) carried forward | 14 | €64,206,003 | €65,428,047 | +€1.2m | +1.9% |
| Provisions and deferred taxes | 16 | €820,833 | €1,489,105 | +€668,272 | +81.4% |
| Provisions for liabilities and charges | 160/5 | €820,833 | €1,489,105 | +€668,272 | +81.4% |
| Other liabilities and charges | 164/5 | €820,833 | €1,489,105 | +€668,272 | +81.4% |
| Amounts payable | 17/49 | €9,886,431 | €10,699,656 | +€813,225 | +8.2% |
| Amounts payable after more than one year | 17 | €9,457,100 | €8,952,100 | -€505,000 | -5.3% |
| Other amounts payable | 178/9 | €9,457,100 | €8,952,100 | -€505,000 | -5.3% |
| Amounts payable within one year | 42/48 | €44,614 | €69,972 | +€25,358 | +56.8% |
| Trade debts | 44 | €14,385 | €39,602 | +€25,217 | +175.3% |
| Suppliers | 440/4 | €14,385 | €39,602 | +€25,217 | +175.3% |
| Taxes, remuneration and social security | 45 | €30,189 | €25,238 | -€4,952 | -16.4% |
| Taxes | 450/3 | €28,945 | €24,161 | -€4,784 | -16.5% |
| Remuneration and social security | 454/9 | €1,244 | €1,076 | -€168 | -13.5% |
| Other amounts payable | 47/48 | €39 | €5,132 | +€5,093 | +12906.4% |
| Accrued charges and deferred income | 492/3 | €384,718 | €1,677,584 | +€1.3m | +336.1% |
| Operating income | 70/76A | €352,600 | €316,555 | -€36,044 | -10.2% |
| Other operating income | 74 | €352,600 | €316,555 | -€36,044 | -10.2% |
| Operating charges | 60/66A | €94,884 | €885,566 | +€790,682 | +833.3% |
| Services and other goods | 61 | €44,565 | €56,159 | +€11,594 | +26.0% |
| Remuneration, social security and pensions | 62 | €7,622 | €7,928 | +€307 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,578 | €11,728 | -€1,849 | -13.6% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €780,048 | +€780,048 | |
| Other operating charges | 640/8 | €29,120 | €29,702 | +€582 | +2.0% |
| Operating profit (loss) | 9901 | €257,716 | -€569,011 | -€826,726 | |
| Financial income | 75/76B | €2,861,168 | €2,705,908 | -€155,260 | -5.4% |
| Recurring financial income | 75 | €2,861,168 | €2,705,908 | -€155,260 | -5.4% |
| Income from current assets | 751 | €2,117,191 | €1,741,694 | -€375,496 | -17.7% |
| Other financial income | 752/9 | €743,977 | €964,213 | +€220,236 | +29.6% |
| Financial charges | 65/66B | €824,482 | €754,764 | -€69,718 | -8.5% |
| Recurring financial charges | 65 | €824,482 | €754,764 | -€69,718 | -8.5% |
| Debt charges | 650 | €628,890 | €608,618 | -€20,271 | -3.2% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€423,763 | -€474,162 | -€50,399 | -11.9% |
| Other financial charges | 652/9 | €619,355 | €620,308 | +€952 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €2,294,402 | €1,382,133 | -€912,269 | -39.8% |
| Income taxes | 67/77 | €548,388 | €160,089 | -€388,299 | -70.8% |
| Taxes | 670/3 | €548,388 | €160,089 | -€388,299 | -70.8% |
| Profit (loss) for the period | 9904 | €1,746,013 | €1,222,044 | -€523,969 | -30.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,746,013 | €1,222,044 | -€523,969 | -30.0% |
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 1 October 2026 via checked.be.