IBECO BUILD: 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.
IBECO BUILD
Largest movements
- Stocks and contracts -€205,089
down €205,089 (-39.0%), from €526,485 to €321,396
- Receivables within one year +€32,336
up €32,336 (+11.2%), from €290,005 to €322,342
of which Trade receivables: +€206,699
- Cash +€23,974
up €23,974 (+470%), from €5,103 to €29,077
mainly Current portion of long-term debt (+€464,181) and Other debts (+€232,704)
- Debts after one year -€686,530
down €686,530 (-100%), from €686,530 to €0
of which Financial debts: -€686,530
- Current portion of long-term debt +€464,181
new in 2025: €464,181
- Other debts +€232,704
new in 2025: €232,704
- Short-term financial debts -€176,061
down €176,061 (-100%), from €176,061 to €0
- Gross operating margin +€222,133
up €222,133, from -€169,176 to €52,958
- Financial income -€8,425
down €8,425 (-100.0%), from €8,425 to €0
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 | €833,822 | €676,973 | -€156,849 | -18.8% |
| Fixed assets | 21/28 | €3,500 | €3,500 | = | 0.0% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €830,322 | €673,473 | -€156,849 | -18.9% |
| Stocks and contracts in progress | 3 | €526,485 | €321,396 | -€205,089 | -39.0% |
| Contracts in progress | 37 | €526,485 | €321,396 | -€205,089 | -39.0% |
| Amounts receivable within one year | 40/41 | €290,005 | €322,342 | +€32,336 | +11.2% |
| Trade receivables | 40 | €112,637 | €319,337 | +€206,699 | +184% |
| Other amounts receivable | 41 | €177,368 | €3,005 | -€174,363 | -98.3% |
| Cash at bank and in hand | 54/58 | €5,103 | €29,077 | +€23,974 | +470% |
| Deferred charges and accrued income | 490/1 | €8,729 | €659 | -€8,070 | -92.5% |
| Total equity and liabilities | 10/49 | €833,822 | €676,973 | -€156,849 | -18.8% |
| Equity | 10/15 | -€28,793 | -€28,333 | +€460 | +1.6% |
| Contributions | 10/11 | €210,330 | €210,330 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€239,123 | -€238,663 | +€460 | +0.2% |
| Amounts payable | 17/49 | €862,615 | €705,307 | -€157,308 | -18.2% |
| Amounts payable after more than one year | 17 | €686,530 | €0 | -€686,530 | -100% |
| Financial debts | 170/4 | €686,530 | €0 | -€686,530 | -100% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €176,085 | €705,307 | +€529,221 | +301% |
| Current portion of amounts payable after more than one year | 42 | - | €464,181 | +€464,181 | |
| Financial debts | 43 | €176,061 | €0 | -€176,061 | -100% |
| Credit institutions | 430/8 | €176,061 | €0 | -€176,061 | -100% |
| Trade debts | 44 | €0 | €8,324 | +€8,324 | |
| Suppliers | 440/4 | €0 | €8,324 | +€8,324 | |
| Taxes, remuneration and social security | 45 | €24 | €98 | +€74 | +309% |
| Taxes | 450/3 | €24 | €98 | +€74 | +309% |
| Other amounts payable | 47/48 | - | €232,704 | +€232,704 | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | €2,287 | €1,525 | -€762 | -33.3% |
| Gross operating margin | 9900 | -€169,176 | €52,958 | +€222,133 | |
| Operating profit (loss) | 9901 | -€171,463 | €51,433 | +€222,895 | |
| Financial income | 75/76B | €8,425 | €0 | -€8,425 | -100.0% |
| Recurring financial income | 75 | €8,425 | €0 | -€8,425 | -100.0% |
| Financial charges | 65/66B | €49,449 | €50,973 | +€1,525 | +3.1% |
| Recurring financial charges | 65 | €49,449 | €50,973 | +€1,525 | +3.1% |
| Profit (loss) for the period before taxes | 9903 | -€212,486 | €460 | +€212,945 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€212,486 | €460 | +€212,945 | |
| Profit (loss) for the period to be appropriated | 9905 | -€212,486 | €460 | +€212,945 |
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 24 October 2026 via checked.be.