IB PROJECTS: 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.
IB PROJECTS
Largest movements
- Receivables within one year +€69,458
up €69,458 (+18.6%), from €372,908 to €442,366
of which Other amounts receivable: +€55,326
- Tangible fixed assets +€63,713
up €63,713 (+43.7%), from €145,662 to €209,375
of which Plant, machinery and equipment: +€44,779
- Cash +€32,098
up €32,098 (+79.4%), from €40,425 to €72,523
mainly Net result for the year (+€170,540) and Depreciation (+€18,678)
- Reserves +€170,540
up €170,540 (+40.6%), from €420,187 to €590,727
of which Distributable reserves: +€170,540
- Gross operating margin +€234,199
up €234,199 (+574%), from €40,836 to €275,035
- Taxes +€42,362
up €42,362 (+269%), from €15,767 to €58,129
- Staff costs +€17,262
up €17,262 (+79.8%), from €21,622 to €38,884
- Depreciation +€4,359
up €4,359 (+30.4%), from €14,319 to €18,678
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.
Derived cash bridge
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 | €567,216 | €737,681 | +€170,464 | +30.1% |
| Fixed assets | 21/28 | €152,053 | €221,001 | +€68,948 | +45.3% |
| Intangible fixed assets | 21 | €4,440 | €9,006 | +€4,566 | +103% |
| Tangible fixed assets | 22/27 | €145,662 | €209,375 | +€63,713 | +43.7% |
| Land and buildings | 22 | €125,544 | €145,504 | +€19,961 | +15.9% |
| Plant, machinery and equipment | 23 | €18,760 | €63,539 | +€44,779 | +239% |
| Furniture and vehicles | 24 | €1,359 | €331 | -€1,027 | -75.6% |
| Financial fixed assets | 28 | €1,950 | €2,620 | +€670 | +34.4% |
| Current assets | 29/58 | €415,164 | €516,680 | +€101,516 | +24.5% |
| Amounts receivable within one year | 40/41 | €372,908 | €442,366 | +€69,458 | +18.6% |
| Trade receivables | 40 | €1,481 | €15,613 | +€14,132 | +954% |
| Other amounts receivable | 41 | €371,427 | €426,753 | +€55,326 | +14.9% |
| Cash at bank and in hand | 54/58 | €40,425 | €72,523 | +€32,098 | +79.4% |
| Deferred charges and accrued income | 490/1 | €1,831 | €1,791 | -€40 | -2.2% |
| Total equity and liabilities | 10/49 | €567,216 | €737,681 | +€170,464 | +30.1% |
| Equity | 10/15 | €438,787 | €609,327 | +€170,540 | +38.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €420,187 | €590,727 | +€170,540 | +40.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €418,327 | €588,867 | +€170,540 | +40.8% |
| Amounts payable | 17/49 | €128,429 | €128,354 | -€75 | -0.1% |
| Amounts payable after more than one year | 17 | €65,363 | €61,853 | -€3,510 | -5.4% |
| Financial debts | 170/4 | €65,363 | €61,853 | -€3,510 | -5.4% |
| Amounts payable within one year | 42/48 | €63,066 | €66,501 | +€3,435 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €3,363 | €3,510 | +€147 | +4.4% |
| Trade debts | 44 | €19,314 | €15,552 | -€3,762 | -19.5% |
| Suppliers | 440/4 | €19,314 | €15,552 | -€3,762 | -19.5% |
| Taxes, remuneration and social security | 45 | €40,390 | €47,439 | +€7,049 | +17.5% |
| Taxes | 450/3 | €32,048 | €36,740 | +€4,692 | +14.6% |
| Remuneration and social security | 454/9 | €8,342 | €10,699 | +€2,357 | +28.3% |
| Remuneration, social security and pensions | 62 | €21,622 | €38,884 | +€17,262 | +79.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,319 | €18,678 | +€4,359 | +30.4% |
| Other operating charges | 640/8 | €4,211 | €5,093 | +€883 | +21.0% |
| Gross operating margin | 9900 | €40,836 | €275,035 | +€234,199 | +574% |
| Operating profit (loss) | 9901 | €685 | €212,380 | +€211,695 | +30,910% |
| Financial income | 75/76B | €19,313 | €21,657 | +€2,344 | +12.1% |
| Recurring financial income | 75 | €19,313 | €21,657 | +€2,344 | +12.1% |
| Financial charges | 65/66B | €7,157 | €5,368 | -€1,789 | -25.0% |
| Recurring financial charges | 65 | €7,157 | €5,368 | -€1,789 | -25.0% |
| Profit (loss) for the period before taxes | 9903 | €12,841 | €228,669 | +€215,828 | +1,681% |
| Income taxes | 67/77 | €15,767 | €58,129 | +€42,362 | +269% |
| Profit (loss) for the period | 9904 | -€2,926 | €170,540 | +€173,466 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,926 | €170,540 | +€173,466 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.