IBANFIRST: 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
IBANFIRST
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
-€1.1m
2024 · €29,774-€1.1m
Equity
€18.5m
2024 · €16.6m+€1.9m
Cash
€466.2m
2024 · €417.5m+€48.8m
Balance sheet total
€689.2m
2024 · €512.8m+€176.5m
Largest movements
Assets
- Current investments +€120.4m
up €120.4m (+203.4%), from €59.2m to €179.6m
- Cash +€48.8m
up €48.8m (+11.7%), from €417.5m to €466.2m
mainly Other debts (+€167.3m) and Trade debts (+€7.5m)
Equity and liabilities
- Other debts +€167.3m
up €167.3m (+34.7%), from €482.3m to €649.7m
- Trade debts +€7.5m
up €7.5m (+103.0%), from €7.2m to €14.7m
Income statement
- Turnover +€6.3m
up €6.3m (+15.3%), from €41.6m to €47.9m
- Financial income -€2.6m
down €2.6m (-14.4%), from €18.1m to €15.5m
- Services and other goods +€2.5m
up €2.5m (+8.2%), from €30.4m to €32.9m
- Financial charges +€1.3m
up €1.3m (+35.0%), from €3.6m to €4.9m
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
€29,774
Turnover
+€6.3m
Other operating income
-€369,929
Services and other goods
-€2.5m
Staff costs
+€56,090
Depreciation
-€8,789
Write-downs
-€430,403
Other operating charges
-€14,982
Other operating items
-€386,544
Financial income
-€2.6m
Financial charges
-€1.3m
Taxes
+€31,185
Result 2025
-€1.1m
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
+€172.9m
Investment
-€127.2m
Financing
+€3.0m
Cash 2024
€417.5m
From operations (derived)
+€172.9m
Net result for the year
-€1.1m
Depreciation
+€646,755
Receivables within one year
+€1.5m
Deferred charges and accrued income
-€2.7m
Trade debts
+€7.5m
Tax, wage and social debts
-€1.5m
Other debts
+€167.3m
Accrued charges and deferred income
+€1.3m
Investment (derived)
-€127.2m
Investment in fixed assets (net)
-€6.7m
Current investments
-€120.4m
Financing
+€3.0m
Contributions, distributions and other
+€3.0m
Cash 2025
€466.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €512,787,687 | €689,239,624 | +€176.5m | +34.4% |
| Formation expenses | 20 | €77,616 | €55,749 | -€21,867 | -28.2% |
| Fixed assets | 21/28 | €17,001,566 | €23,122,142 | +€6.1m | +36.0% |
| Intangible fixed assets | 21 | €1,902,867 | €1,551,061 | -€351,806 | -18.5% |
| Tangible fixed assets | 22/27 | €803,835 | €1,034,043 | +€230,209 | +28.6% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €9,313 | €7,638 | -€1,675 | -18.0% |
| Furniture and vehicles | 24 | €292,452 | €500,815 | +€208,363 | +71.2% |
| Other tangible fixed assets | 26 | €502,069 | €525,590 | +€23,521 | +4.7% |
| Financial fixed assets | 28 | €14,294,865 | €20,537,038 | +€6.2m | +43.7% |
| Affiliated companies | 280/1 | €1,675,245 | €1,666,914 | -€8,331 | -0.5% |
| Participating interests | 280 | €1,675,245 | €1,666,914 | -€8,331 | -0.5% |
| Other financial fixed assets | 284/8 | €12,619,619 | €18,870,124 | +€6.3m | +49.5% |
| Amounts receivable and cash guarantees | 285/8 | €12,619,619 | €18,870,124 | +€6.3m | +49.5% |
| Current assets | 29/58 | €495,708,505 | €666,061,733 | +€170.4m | +34.4% |
| Amounts receivable within one year | 40/41 | €10,136,101 | €8,626,966 | -€1.5m | -14.9% |
| Trade receivables | 40 | €2,205,028 | €1,052,708 | -€1.2m | -52.3% |
| Other amounts receivable | 41 | €7,931,073 | €7,574,258 | -€356,815 | -4.5% |
| Current investments | 50/53 | €59,185,388 | €179,592,219 | +€120.4m | +203.4% |
| Other investments | 51/53 | €59,185,388 | €179,592,219 | +€120.4m | +203.4% |
| Cash at bank and in hand | 54/58 | €417,460,254 | €466,232,598 | +€48.8m | +11.7% |
| Deferred charges and accrued income | 490/1 | €8,926,762 | €11,609,950 | +€2.7m | +30.1% |
| Total equity and liabilities | 10/49 | €512,787,687 | €689,239,624 | +€176.5m | +34.4% |
| Equity | 10/15 | €16,641,942 | €18,528,832 | +€1.9m | +11.3% |
| Contributions | 10/11 | €85,309,971 | €88,309,971 | +€3.0m | +3.5% |
| Capital | 10 | €33,362,943 | €36,362,943 | +€3.0m | +9.0% |
| Issued capital | 100 | €33,374,943 | €36,374,943 | +€3.0m | +9.0% |
| Uncalled capital | 101 | €12,000 | €12,000 | = | 0.0% |
| Outside capital | 11 | €51,947,028 | €51,947,028 | = | 0.0% |
| Share premium | 1100/10 | €51,947,028 | €51,947,028 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€68,668,029 | -€69,781,138 | -€1.1m | -1.6% |
| Provisions and deferred taxes | 16 | €64,500 | €64,500 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €64,500 | €64,500 | = | 0.0% |
| Other liabilities and charges | 164/5 | €64,500 | €64,500 | = | 0.0% |
| Amounts payable | 17/49 | €496,081,245 | €670,646,291 | +€174.6m | +35.2% |
| Amounts payable within one year | 42/48 | €495,081,726 | €668,352,156 | +€173.3m | +35.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €7,237,622 | €14,694,131 | +€7.5m | +103.0% |
| Suppliers | 440/4 | €7,237,622 | €14,694,131 | +€7.5m | +103.0% |
| Taxes, remuneration and social security | 45 | €5,510,380 | €3,978,299 | -€1.5m | -27.8% |
| Taxes | 450/3 | €601,274 | €389,268 | -€212,006 | -35.3% |
| Remuneration and social security | 454/9 | €4,909,106 | €3,589,031 | -€1.3m | -26.9% |
| Other amounts payable | 47/48 | €482,333,724 | €649,679,726 | +€167.3m | +34.7% |
| Accrued charges and deferred income | 492/3 | €999,519 | €2,294,135 | +€1.3m | +129.5% |
| Operating income | 70/76A | €42,413,822 | €48,474,258 | +€6.1m | +14.3% |
| Turnover | 70 | €41,578,990 | €47,927,515 | +€6.3m | +15.3% |
| Other operating income | 74 | €812,400 | €442,471 | -€369,929 | -45.5% |
| Non-recurring operating income | 76A | €22,432 | €104,272 | +€81,840 | +364.8% |
| Operating charges | 60/66A | €56,455,215 | €59,802,606 | +€3.3m | +5.9% |
| Services and other goods | 61 | €30,425,481 | €32,906,404 | +€2.5m | +8.2% |
| Remuneration, social security and pensions | 62 | €24,755,907 | €24,699,817 | -€56,090 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €637,966 | €646,755 | +€8,789 | +1.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €138,297 | €568,700 | +€430,403 | +311.2% |
| Other operating charges | 640/8 | €191,013 | €205,995 | +€14,982 | +7.8% |
| Non-recurring operating charges | 66A | €306,551 | €774,935 | +€468,384 | +152.8% |
| Operating profit (loss) | 9901 | -€14,041,394 | -€11,328,349 | +€2.7m | +19.3% |
| Financial income | 75/76B | €18,136,214 | €15,518,946 | -€2.6m | -14.4% |
| Recurring financial income | 75 | €18,136,214 | €15,518,946 | -€2.6m | -14.4% |
| Income from financial fixed assets | 750 | - | €23,748 | +€23,748 | |
| Other financial income | 752/9 | €18,136,214 | €15,495,198 | -€2.6m | -14.6% |
| Financial charges | 65/66B | €3,632,268 | €4,902,113 | +€1.3m | +35.0% |
| Recurring financial charges | 65 | €3,632,268 | €4,902,113 | +€1.3m | +35.0% |
| Debt charges | 650 | €75,136 | €0 | -€75,136 | -100.0% |
| Other financial charges | 652/9 | €3,557,132 | €4,902,113 | +€1.3m | +37.8% |
| Profit (loss) for the period before taxes | 9903 | €462,552 | -€711,516 | -€1.2m | |
| Income taxes | 67/77 | €432,778 | €401,594 | -€31,185 | -7.2% |
| Taxes | 670/3 | €432,778 | €401,594 | -€31,185 | -7.2% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | €29,774 | -€1,113,110 | -€1.1m | |
| Profit (loss) for the period to be appropriated | 9905 | €29,774 | -€1,113,110 | -€1.1m |
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 6 October 2026 via checked.be.