I4X: 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.
I4X
Largest movements
- Cash -€22,112
down €22,112 (-17.4%), from €127,354 to €105,242
mainly Contributions, distributions and other (-€40,730) and Receivables within one year (-€21,321)
- Receivables within one year +€21,321
up €21,321 (+94.4%), from €22,574 to €43,895
of which Other amounts receivable: +€23,311
- Reserves -€28,124
down €28,124 (-22.8%), from €123,565 to €95,441
- Other debts +€24,105
up €24,105 (+145.0%), from €16,625 to €40,730
- Tax, wage and social debts +€1,936
up €1,936 (+16.0%), from €12,126 to €14,062
- Gross operating margin -€5,206
down €5,206 (-13.3%), from €39,057 to €33,851
- Financial charges -€1,602
down €1,602 (-23.4%), from €6,839 to €5,237
of which Financial charges: -€839
- Taxes -€949
down €949 (-10.7%), from €8,859 to €7,910
- Depreciation -€900
down €900 (-11.6%), from €7,785 to €6,886
- Financial income +€662
new in 2025: €662
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 | €163,772 | €161,915 | -€1,857 | -1.1% |
| Fixed assets | 21/28 | €9,920 | €8,568 | -€1,352 | -13.6% |
| Tangible fixed assets | 22/27 | €9,920 | €8,568 | -€1,352 | -13.6% |
| Plant, machinery and equipment | 23 | €1,573 | €1,635 | +€62 | +4.0% |
| Furniture and vehicles | 24 | €7,268 | €2,830 | -€4,438 | -61.1% |
| Other tangible fixed assets | 26 | €1,079 | €4,103 | +€3,024 | +280.3% |
| Current assets | 29/58 | €153,852 | €153,347 | -€505 | -0.3% |
| Amounts receivable within one year | 40/41 | €22,574 | €43,895 | +€21,321 | +94.4% |
| Trade receivables | 40 | €19,433 | €17,443 | -€1,990 | -10.2% |
| Other amounts receivable | 41 | €3,141 | €26,452 | +€23,311 | +742.1% |
| Cash at bank and in hand | 54/58 | €127,354 | €105,242 | -€22,112 | -17.4% |
| Deferred charges and accrued income | 490/1 | €3,924 | €4,210 | +€286 | +7.3% |
| Total equity and liabilities | 10/49 | €163,772 | €161,915 | -€1,857 | -1.1% |
| Equity | 10/15 | €131,465 | €103,341 | -€28,124 | -21.4% |
| Contributions | 10/11 | €7,900 | €7,900 | = | 0.0% |
| Reserves | 13 | €123,565 | €95,441 | -€28,124 | -22.8% |
| Distributable reserves | 133 | €123,565 | €95,441 | -€28,124 | -22.8% |
| Amounts payable | 17/49 | €32,307 | €58,574 | +€26,267 | +81.3% |
| Amounts payable within one year | 42/48 | €32,307 | €58,574 | +€26,267 | +81.3% |
| Trade debts | 44 | €3,556 | €3,782 | +€226 | +6.3% |
| Suppliers | 440/4 | €3,556 | €3,782 | +€226 | +6.3% |
| Taxes, remuneration and social security | 45 | €12,126 | €14,062 | +€1,936 | +16.0% |
| Taxes | 450/3 | €12,126 | €14,062 | +€1,936 | +16.0% |
| Other amounts payable | 47/48 | €16,625 | €40,730 | +€24,105 | +145.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,785 | €6,886 | -€900 | -11.6% |
| Other operating charges | 640/8 | €2,187 | €1,874 | -€313 | -14.3% |
| Gross operating margin | 9900 | €39,057 | €33,851 | -€5,206 | -13.3% |
| Operating profit (loss) | 9901 | €29,085 | €25,092 | -€3,993 | -13.7% |
| Financial income | 75/76B | - | €662 | +€662 | |
| Recurring financial income | 75 | - | €662 | +€662 | |
| Financial charges | 65/66B | €6,839 | €5,237 | -€1,602 | -23.4% |
| Recurring financial charges | 65 | €6,077 | €5,237 | -€839 | -13.8% |
| Non-recurring financial charges | 66B | €763 | - | -€763 | |
| Profit (loss) for the period before taxes | 9903 | €22,245 | €20,516 | -€1,729 | -7.8% |
| Income taxes | 67/77 | €8,859 | €7,910 | -€949 | -10.7% |
| Profit (loss) for the period | 9904 | €13,387 | €12,606 | -€781 | -5.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,387 | €12,606 | -€781 | -5.8% |
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 5 October 2026 via checked.be.