IAGO: 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.
IAGO
Largest movements
- Receivables within one year -€20,165
down €20,165 (-64.3%), from €31,379 to €11,214
of which Trade receivables: -€21,920
- Cash +€9,044
up €9,044 (+150.6%), from €6,007 to €15,051
mainly Net result for the year (+€22,153) and Receivables within one year (+€20,165)
- Trade debts -€29,091
down €29,091 (-100.0%), from €29,091 to €0
- Profit (loss) carried forward +€22,153
up €22,153 (+38.3%), from -€57,862 to -€35,708
- Tax, wage and social debts -€3,063
down €3,063 (-100.0%), from €3,063 to €0
- Other debts -€1,121
down €1,121 (-100.0%), from €1,121 to €0
- Other operating charges -€20,000
down €20,000 (-98.9%), from €20,220 to €220
- Financial income +€20,000
new in 2025: €20,000
of which Financial income: +€20,000
- Gross operating margin -€19,773
down €19,773 (-89.0%), from €22,219 to €2,446
- Write-downs -€15,254
no longer reported in 2025 (was €15,254)
- Financial charges -€3,316
down €3,316 (-97.9%), from €3,388 to €72
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 | €37,386 | €26,265 | -€11,121 | -29.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €0 | €0 | = | |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €37,386 | €26,265 | -€11,121 | -29.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €31,379 | €11,214 | -€20,165 | -64.3% |
| Trade receivables | 40 | €31,379 | €9,459 | -€21,920 | -69.9% |
| Other amounts receivable | 41 | €0 | €1,755 | +€1,755 | |
| Cash at bank and in hand | 54/58 | €6,007 | €15,051 | +€9,044 | +150.6% |
| Total equity and liabilities | 10/49 | €37,386 | €26,265 | -€11,121 | -29.7% |
| Equity | 10/15 | €4,112 | €26,265 | +€22,153 | +538.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,862 | -€35,708 | +€22,153 | +38.3% |
| Amounts payable | 17/49 | €33,275 | €0 | -€33,275 | -100.0% |
| Amounts payable within one year | 42/48 | €33,275 | €0 | -€33,275 | -100.0% |
| Trade debts | 44 | €29,091 | €0 | -€29,091 | -100.0% |
| Suppliers | 440/4 | €29,091 | €0 | -€29,091 | -100.0% |
| Taxes, remuneration and social security | 45 | €3,063 | €0 | -€3,063 | -100.0% |
| Taxes | 450/3 | €3,063 | €0 | -€3,063 | -100.0% |
| Other amounts payable | 47/48 | €1,121 | €0 | -€1,121 | -100.0% |
| Turnover | 70 | €16,235 | €17,672 | +€1,437 | +8.9% |
| Goods, raw materials, services and sundry goods | 60/61 | €14,016 | €15,226 | +€1,210 | +8.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €15,254 | - | -€15,254 | |
| Other operating charges | 640/8 | €20,220 | €220 | -€20,000 | -98.9% |
| Gross operating margin | 9900 | €22,219 | €2,446 | -€19,773 | -89.0% |
| Operating profit (loss) | 9901 | -€13,255 | €2,226 | +€15,481 | |
| Financial income | 75/76B | - | €20,000 | +€20,000 | |
| Recurring financial income | 75 | - | €20,000 | +€20,000 | |
| Non-recurring financial income | 76B | - | €20,000 | +€20,000 | |
| Financial charges | 65/66B | €3,388 | €72 | -€3,316 | -97.9% |
| Recurring financial charges | 65 | €3,388 | €72 | -€3,316 | -97.9% |
| Profit (loss) for the period before taxes | 9903 | -€16,644 | €22,153 | +€38,797 | |
| Profit (loss) for the period | 9904 | -€16,644 | €22,153 | +€38,797 | |
| Profit (loss) for the period to be appropriated | 9905 | -€16,644 | €22,153 | +€38,797 |
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.