IBEAUTHERM: 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.
IBEAUTHERM
Largest movements
- Receivables within one year +€8,092
up €8,092 (+8.5%), from €95,722 to €103,814
of which Trade receivables: +€14,640
- Cash -€3,930
down €3,930 (-49.3%), from €7,979 to €4,049
mainly Investment in fixed assets (net) (-€16,125) and Trade debts (-€10,729)
- Tangible fixed assets +€3,328
up €3,328 (+18.3%), from €18,176 to €21,503
of which Furniture and vehicles: +€4,951
- Reserves +€12,000
up €12,000 (+28.6%), from €42,000 to €54,000
- Trade debts -€10,729
no longer reported in 2025 (was €10,729)
- Other debts +€4,772
up €4,772 (+8.9%), from €53,873 to €58,645
- Staff costs -€37,544
down €37,544 (-84.9%), from €44,196 to €6,652
- Gross operating margin -€36,567
down €36,567 (-47.6%), from €76,829 to €40,262
- Depreciation +€2,752
up €2,752 (+27.4%), from €10,045 to €12,797
- Write-downs -€2,604
new in 2025: -€2,604
- Taxes +€1,260
up €1,260 (+17.9%), from €7,031 to €8,291
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 | €121,987 | €129,477 | +€7,489 | +6.1% |
| Fixed assets | 21/28 | €18,286 | €21,613 | +€3,328 | +18.2% |
| Tangible fixed assets | 22/27 | €18,176 | €21,503 | +€3,328 | +18.3% |
| Plant, machinery and equipment | 23 | €8,453 | €6,830 | -€1,623 | -19.2% |
| Furniture and vehicles | 24 | €9,723 | €14,673 | +€4,951 | +50.9% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €103,701 | €107,863 | +€4,162 | +4.0% |
| Amounts receivable within one year | 40/41 | €95,722 | €103,814 | +€8,092 | +8.5% |
| Trade receivables | 40 | €88,460 | €103,100 | +€14,640 | +16.6% |
| Other amounts receivable | 41 | €7,262 | €714 | -€6,548 | -90.2% |
| Cash at bank and in hand | 54/58 | €7,979 | €4,049 | -€3,930 | -49.3% |
| Total equity and liabilities | 10/49 | €121,987 | €129,477 | +€7,489 | +6.1% |
| Equity | 10/15 | €46,206 | €59,045 | +€12,839 | +27.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €42,000 | €54,000 | +€12,000 | +28.6% |
| Distributable reserves | 133 | €42,000 | €54,000 | +€12,000 | +28.6% |
| Profit (loss) carried forward | 14 | €2,206 | €3,045 | +€839 | +38.0% |
| Amounts payable | 17/49 | €75,781 | €70,432 | -€5,349 | -7.1% |
| Amounts payable within one year | 42/48 | €75,781 | €70,432 | -€5,349 | -7.1% |
| Trade debts | 44 | €10,729 | - | -€10,729 | |
| Suppliers | 440/4 | €10,729 | - | -€10,729 | |
| Taxes, remuneration and social security | 45 | €11,179 | €11,787 | +€608 | +5.4% |
| Taxes | 450/3 | €7,089 | €11,787 | +€4,697 | +66.3% |
| Remuneration and social security | 454/9 | €4,089 | - | -€4,089 | |
| Other amounts payable | 47/48 | €53,873 | €58,645 | +€4,772 | +8.9% |
| Remuneration, social security and pensions | 62 | €44,196 | €6,652 | -€37,544 | -84.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,045 | €12,797 | +€2,752 | +27.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€2,604 | -€2,604 | |
| Other operating charges | 640/8 | €713 | €1,582 | +€869 | +122% |
| Gross operating margin | 9900 | €76,829 | €40,262 | -€36,567 | -47.6% |
| Operating profit (loss) | 9901 | €21,875 | €21,835 | -€40 | -0.2% |
| Financial income | 75/76B | €12 | €3 | -€9 | -74.5% |
| Recurring financial income | 75 | €12 | €3 | -€9 | -74.5% |
| Financial charges | 65/66B | €1,259 | €709 | -€550 | -43.7% |
| Recurring financial charges | 65 | €1,259 | €709 | -€550 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | €20,628 | €21,130 | +€501 | +2.4% |
| Income taxes | 67/77 | €7,031 | €8,291 | +€1,260 | +17.9% |
| Profit (loss) for the period | 9904 | €13,597 | €12,839 | -€758 | -5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €13,597 | €12,839 | -€758 | -5.6% |
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 27 October 2026 via checked.be.