IBAL: 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.
IBAL
Largest movements
- Receivables within one year -€67,018
down €67,018 (-43.5%), from €153,941 to €86,923
of which Other amounts receivable: -€74,756
- Tangible fixed assets +€22,154
up €22,154 (+163.9%), from €13,520 to €35,674
of which Other tangible fixed assets: +€25,365
- Cash +€15,516
up €15,516 (+49.8%), from €31,175 to €46,691
mainly Net result for the year (+€125,605) and Receivables within one year (+€67,018)
- Other debts -€20,755
down €20,755 (-16.3%), from €127,519 to €106,764
- Tax, wage and social debts -€12,968
down €12,968 (-26.7%), from €48,589 to €35,621
- Short-term financial debts +€3,686
up €3,686 (+43.4%), from €8,496 to €12,181
- Gross operating margin -€25,644
down €25,644 (-14.7%), from €174,641 to €148,998
- Taxes -€13,270
down €13,270 (-28.4%), from €46,745 to €33,475
- Financial income -€9,349
down €9,349 (-34.8%), from €26,855 to €17,506
- Depreciation +€2,263
up €2,263 (+93.4%), from €2,423 to €4,687
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 | €205,741 | €176,118 | -€29,623 | -14.4% |
| Fixed assets | 21/28 | €20,220 | €42,374 | +€22,154 | +109.6% |
| Tangible fixed assets | 22/27 | €13,520 | €35,674 | +€22,154 | +163.9% |
| Furniture and vehicles | 24 | €13,520 | €10,309 | -€3,211 | -23.8% |
| Other tangible fixed assets | 26 | - | €25,365 | +€25,365 | |
| Financial fixed assets | 28 | €6,700 | €6,700 | = | 0.0% |
| Current assets | 29/58 | €185,521 | €133,745 | -€51,777 | -27.9% |
| Amounts receivable within one year | 40/41 | €153,941 | €86,923 | -€67,018 | -43.5% |
| Trade receivables | 40 | €32,738 | €40,477 | +€7,738 | +23.6% |
| Other amounts receivable | 41 | €121,202 | €46,446 | -€74,756 | -61.7% |
| Cash at bank and in hand | 54/58 | €31,175 | €46,691 | +€15,516 | +49.8% |
| Deferred charges and accrued income | 490/1 | €405 | €131 | -€274 | -67.7% |
| Total equity and liabilities | 10/49 | €205,741 | €176,118 | -€29,623 | -14.4% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €185,281 | €155,658 | -€29,623 | -16.0% |
| Amounts payable within one year | 42/48 | €185,281 | €155,658 | -€29,623 | -16.0% |
| Financial debts | 43 | €8,496 | €12,181 | +€3,686 | +43.4% |
| Credit institutions | 430/8 | €8,496 | €12,181 | +€3,686 | +43.4% |
| Trade debts | 44 | €678 | €1,092 | +€414 | +61.1% |
| Suppliers | 440/4 | €678 | €1,092 | +€414 | +61.1% |
| Taxes, remuneration and social security | 45 | €48,589 | €35,621 | -€12,968 | -26.7% |
| Taxes | 450/3 | €48,589 | €35,621 | -€12,968 | -26.7% |
| Other amounts payable | 47/48 | €127,519 | €106,764 | -€20,755 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,423 | €4,687 | +€2,263 | +93.4% |
| Other operating charges | 640/8 | €1,195 | €1,742 | +€547 | +45.8% |
| Gross operating margin | 9900 | €174,641 | €148,998 | -€25,644 | -14.7% |
| Operating profit (loss) | 9901 | €171,024 | €142,570 | -€28,454 | -16.6% |
| Financial income | 75/76B | €26,855 | €17,506 | -€9,349 | -34.8% |
| Recurring financial income | 75 | €26,855 | €17,506 | -€9,349 | -34.8% |
| Financial charges | 65/66B | €1,112 | €996 | -€116 | -10.5% |
| Recurring financial charges | 65 | €1,112 | €996 | -€116 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €196,767 | €159,080 | -€37,687 | -19.2% |
| Income taxes | 67/77 | €46,745 | €33,475 | -€13,270 | -28.4% |
| Profit (loss) for the period | 9904 | €150,022 | €125,605 | -€24,417 | -16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €150,022 | €125,605 | -€24,417 | -16.3% |
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 29 September 2026 via checked.be.