IBEKLEVIC: 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.
IBEKLEVIC
Largest movements
- Receivables after one year +€260,623
new in 2025: €260,623
- Cash -€165,122
down €165,122 (-47.9%), from €345,058 to €179,935
mainly Receivables after one year (-€260,623) and Other debts (-€55,000)
- Receivables within one year +€45,625
up €45,625 (+32.7%), from €139,559 to €185,184
of which Trade receivables: +€59,845
- Current investments +€27,593
new in 2025: €27,593
- Reserves +€237,750
up €237,750 (+66.9%), from €355,250 to €593,000
- Other debts -€55,000
no longer reported in 2025 (was €55,000)
- Tax, wage and social debts -€14,897
down €14,897 (-32.3%), from €46,118 to €31,221
of which Taxes: -€15,066
- Gross operating margin +€58,262
up €58,262 (+18.1%), from €322,625 to €380,887
- Taxes +€21,645
up €21,645 (+22.5%), from €96,299 to €117,944
- Depreciation -€5,475
down €5,475 (-58.2%), from €9,407 to €3,931
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 | €491,664 | €659,167 | +€167,503 | +34.1% |
| Fixed assets | 21/28 | €4,734 | €4,251 | -€483 | -10.2% |
| Tangible fixed assets | 22/27 | €4,734 | €4,251 | -€483 | -10.2% |
| Plant, machinery and equipment | 23 | €2,410 | €4,251 | +€1,841 | +76.4% |
| Furniture and vehicles | 24 | €1,362 | - | -€1,362 | |
| Other tangible fixed assets | 26 | €962 | - | -€962 | |
| Current assets | 29/58 | €486,930 | €654,916 | +€167,986 | +34.5% |
| Amounts receivable after more than one year | 29 | - | €260,623 | +€260,623 | |
| Other amounts receivable | 291 | - | €260,623 | +€260,623 | |
| Amounts receivable within one year | 40/41 | €139,559 | €185,184 | +€45,625 | +32.7% |
| Trade receivables | 40 | €113,180 | €173,024 | +€59,845 | +52.9% |
| Other amounts receivable | 41 | €26,379 | €12,159 | -€14,220 | -53.9% |
| Current investments | 50/53 | - | €27,593 | +€27,593 | |
| Cash at bank and in hand | 54/58 | €345,058 | €179,935 | -€165,122 | -47.9% |
| Deferred charges and accrued income | 490/1 | €2,313 | €1,581 | -€733 | -31.7% |
| Total equity and liabilities | 10/49 | €491,664 | €659,167 | +€167,503 | +34.1% |
| Equity | 10/15 | €382,901 | €621,831 | +€238,931 | +62.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €355,250 | €593,000 | +€237,750 | +66.9% |
| Distributable reserves | 133 | €355,250 | €593,000 | +€237,750 | +66.9% |
| Profit (loss) carried forward | 14 | €15,251 | €16,431 | +€1,181 | +7.7% |
| Amounts payable | 17/49 | €108,763 | €37,336 | -€71,427 | -65.7% |
| Amounts payable within one year | 42/48 | €108,763 | €35,836 | -€72,927 | -67.1% |
| Financial debts | 43 | €1,000 | - | -€1,000 | |
| Credit institutions | 430/8 | €1,000 | - | -€1,000 | |
| Trade debts | 44 | €6,645 | €4,615 | -€2,030 | -30.6% |
| Suppliers | 440/4 | €6,645 | €4,615 | -€2,030 | -30.6% |
| Taxes, remuneration and social security | 45 | €46,118 | €31,221 | -€14,897 | -32.3% |
| Taxes | 450/3 | €39,224 | €24,158 | -€15,066 | -38.4% |
| Remuneration and social security | 454/9 | €6,894 | €7,063 | +€168 | +2.4% |
| Other amounts payable | 47/48 | €55,000 | - | -€55,000 | |
| Accrued charges and deferred income | 492/3 | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €22,488 | €22,076 | -€412 | -1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,407 | €3,931 | -€5,475 | -58.2% |
| Other operating charges | 640/8 | €98 | €101 | +€3 | +3.4% |
| Gross operating margin | 9900 | €322,625 | €380,887 | +€58,262 | +18.1% |
| Operating profit (loss) | 9901 | €290,633 | €354,779 | +€64,146 | +22.1% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €136 | €654 | +€518 | +381.3% |
| Recurring financial charges | 65 | €136 | €654 | +€518 | +381.3% |
| Profit (loss) for the period before taxes | 9903 | €290,498 | €354,125 | +€63,627 | +21.9% |
| Income taxes | 67/77 | €96,299 | €117,944 | +€21,645 | +22.5% |
| Profit (loss) for the period | 9904 | €194,199 | €236,181 | +€41,982 | +21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €194,199 | €236,181 | +€41,982 | +21.6% |
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 2 October 2026 via checked.be.