IBELCOM: 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.
IBELCOM
Largest movements
- Receivables within one year -€43,633
down €43,633 (-11.3%), from €386,090 to €342,456
of which Other amounts receivable: -€36,373
- Profit (loss) carried forward -€229,611
no longer reported in 2025 (was €229,611)
- Other debts +€205,811
up €205,811 (+686.0%), from €30,000 to €235,811
- Trade debts -€21,808
down €21,808 (-98.3%), from €22,188 to €380
- Reserves +€8,059
up €8,059 (+12129.1%), from €66 to €8,125
- Tax, wage and social debts -€5,149
down €5,149 (-21.8%), from €23,673 to €18,524
- Taxes -€83,101
down €83,101 (-99.7%), from €83,313 to €212
- Gross operating margin +€31,524
up €31,524, from -€17,224 to €14,299
- Financial income +€1,200
new in 2025: €1,200
- Other operating charges +€764
new in 2025: €764
- Depreciation -€650
down €650 (-74.5%), from €872 to €222
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 | €386,788 | €344,090 | -€42,698 | -11.0% |
| Fixed assets | 21/28 | €222 | - | -€222 | |
| Tangible fixed assets | 22/27 | €222 | - | -€222 | |
| Plant, machinery and equipment | 23 | €222 | - | -€222 | |
| Current assets | 29/58 | €386,566 | €344,090 | -€42,476 | -11.0% |
| Amounts receivable within one year | 40/41 | €386,090 | €342,456 | -€43,633 | -11.3% |
| Trade receivables | 40 | €7,260 | - | -€7,260 | |
| Other amounts receivable | 41 | €378,830 | €342,456 | -€36,373 | -9.6% |
| Cash at bank and in hand | 54/58 | €476 | €1,634 | +€1,158 | +243.1% |
| Total equity and liabilities | 10/49 | €386,788 | €344,090 | -€42,698 | -11.0% |
| Equity | 10/15 | €310,927 | €89,375 | -€221,552 | -71.3% |
| Contributions | 10/11 | €81,250 | €81,250 | = | 0.0% |
| Capital | 10 | €81,250 | €81,250 | = | 0.0% |
| Issued capital | 100 | €81,250 | €81,250 | = | 0.0% |
| Reserves | 13 | €66 | €8,125 | +€8,059 | +12129.1% |
| Non-distributable reserves | 130/1 | €66 | €8,125 | +€8,059 | +12129.1% |
| Legal reserve | 130 | €66 | €8,125 | +€8,059 | +12129.1% |
| Profit (loss) carried forward | 14 | €229,611 | - | -€229,611 | |
| Amounts payable | 17/49 | €75,861 | €254,715 | +€178,855 | +235.8% |
| Amounts payable within one year | 42/48 | €75,861 | €254,715 | +€178,855 | +235.8% |
| Trade debts | 44 | €22,188 | €380 | -€21,808 | -98.3% |
| Suppliers | 440/4 | €22,188 | €380 | -€21,808 | -98.3% |
| Taxes, remuneration and social security | 45 | €23,673 | €18,524 | -€5,149 | -21.8% |
| Taxes | 450/3 | €23,673 | €18,524 | -€5,149 | -21.8% |
| Other amounts payable | 47/48 | €30,000 | €235,811 | +€205,811 | +686.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €872 | €222 | -€650 | -74.5% |
| Other operating charges | 640/8 | - | €764 | +€764 | |
| Gross operating margin | 9900 | -€17,224 | €14,299 | +€31,524 | |
| Operating profit (loss) | 9901 | -€18,096 | €13,313 | +€31,409 | |
| Financial income | 75/76B | - | €1,200 | +€1,200 | |
| Recurring financial income | 75 | - | €1,200 | +€1,200 | |
| Financial charges | 65/66B | €92 | €42 | -€49 | -53.6% |
| Recurring financial charges | 65 | €92 | €42 | -€49 | -53.6% |
| Profit (loss) for the period before taxes | 9903 | -€18,187 | €14,470 | +€32,658 | |
| Transfer from deferred taxes | 780 | €113,033 | - | -€113,033 | |
| Income taxes | 67/77 | €83,313 | €212 | -€83,101 | -99.7% |
| Profit (loss) for the period | 9904 | €11,533 | €14,259 | +€2,726 | +23.6% |
| Transfer from tax-exempt reserves | 789 | €276,736 | - | -€276,736 | |
| Profit (loss) for the period to be appropriated | 9905 | €288,270 | €14,259 | -€274,011 | -95.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.