IBES GROUP: 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.
IBES GROUP
Largest movements
- Cash -€20,117
down €20,117 (-52.3%), from €38,430 to €18,313
mainly Net result for the year (-€35,221) and Receivables within one year (-€17,543)
- Receivables within one year +€17,543
up €17,543 (+55.0%), from €31,896 to €49,439
of which Trade receivables: +€20,951
- Tangible fixed assets -€13,776
down €13,776 (-25.7%), from €53,599 to €39,823
of which Furniture and vehicles: -€12,198
- Deferred charges and accrued income +€1,826
up €1,826 (+109%), from €1,673 to €3,499
- Profit (loss) carried forward -€35,221
new in 2025: -€35,221
- Short-term financial debts +€30,000
new in 2025: €30,000
- Debts after one year -€13,594
down €13,594 (-62.3%), from €21,830 to €8,236
- Trade debts +€11,104
up €11,104 (+164%), from €6,780 to €17,885
- Tax, wage and social debts -€8,449
down €8,449 (-44.9%), from €18,828 to €10,379
- Turnover +€271,351
new in 2025: €271,351
- Purchases and services +€253,196
new in 2025: €253,196
- Other operating charges +€39,189
up €39,189 (+898%), from €4,363 to €43,552
- Gross operating margin -€10,367
down €10,367 (-28.0%), from €37,030 to €26,663
- Taxes -€7,327
down €7,327 (-94.2%), from €7,778 to €451
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 | €128,216 | €112,692 | -€15,523 | -12.1% |
| Fixed assets | 21/28 | €56,216 | €41,440 | -€14,776 | -26.3% |
| Intangible fixed assets | 21 | €1,417 | €417 | -€1,000 | -70.6% |
| Tangible fixed assets | 22/27 | €53,599 | €39,823 | -€13,776 | -25.7% |
| Plant, machinery and equipment | 23 | €2,775 | €1,198 | -€1,577 | -56.8% |
| Furniture and vehicles | 24 | €50,824 | €38,625 | -€12,198 | -24.0% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €72,000 | €71,252 | -€748 | -1.0% |
| Amounts receivable within one year | 40/41 | €31,896 | €49,439 | +€17,543 | +55.0% |
| Trade receivables | 40 | €28,488 | €49,439 | +€20,951 | +73.5% |
| Other amounts receivable | 41 | €3,408 | €0 | -€3,408 | -100% |
| Cash at bank and in hand | 54/58 | €38,430 | €18,313 | -€20,117 | -52.3% |
| Deferred charges and accrued income | 490/1 | €1,673 | €3,499 | +€1,826 | +109% |
| Total equity and liabilities | 10/49 | €128,216 | €112,692 | -€15,523 | -12.1% |
| Equity | 10/15 | €67,820 | €32,599 | -€35,221 | -51.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €64,820 | €64,820 | = | 0.0% |
| Distributable reserves | 133 | €64,820 | €64,820 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€35,221 | -€35,221 | |
| Amounts payable | 17/49 | €60,395 | €80,093 | +€19,698 | +32.6% |
| Amounts payable after more than one year | 17 | €21,830 | €8,236 | -€13,594 | -62.3% |
| Financial debts | 170/4 | €21,830 | €8,236 | -€13,594 | -62.3% |
| Amounts payable within one year | 42/48 | €38,565 | €71,857 | +€33,292 | +86.3% |
| Current portion of amounts payable after more than one year | 42 | €12,957 | €13,594 | +€637 | +4.9% |
| Financial debts | 43 | - | €30,000 | +€30,000 | |
| Credit institutions | 430/8 | - | €30,000 | +€30,000 | |
| Trade debts | 44 | €6,780 | €17,885 | +€11,104 | +164% |
| Suppliers | 440/4 | €6,780 | €17,885 | +€11,104 | +164% |
| Taxes, remuneration and social security | 45 | €18,828 | €10,379 | -€8,449 | -44.9% |
| Taxes | 450/3 | €18,828 | €10,379 | -€8,449 | -44.9% |
| Turnover | 70 | - | €271,351 | +€271,351 | |
| Non-recurring operating income | 76A | - | €2,876 | +€2,876 | |
| Goods, raw materials, services and sundry goods | 60/61 | - | €253,196 | +€253,196 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,322 | €13,984 | +€4,662 | +50.0% |
| Other operating charges | 640/8 | €4,363 | €43,552 | +€39,189 | +898% |
| Non-recurring operating charges | 66A | €2,602 | €37 | -€2,564 | -98.6% |
| Gross operating margin | 9900 | €37,030 | €26,663 | -€10,367 | -28.0% |
| Operating profit (loss) | 9901 | €20,743 | -€30,911 | -€51,653 | |
| Financial income | 75/76B | €56 | €16 | -€40 | -71.6% |
| Recurring financial income | 75 | €56 | €16 | -€40 | -71.6% |
| Financial charges | 65/66B | €1,251 | €3,875 | +€2,624 | +210% |
| Recurring financial charges | 65 | €1,251 | €2,079 | +€828 | +66.2% |
| Non-recurring financial charges | 66B | - | €1,796 | +€1,796 | |
| Profit (loss) for the period before taxes | 9903 | €19,547 | -€34,770 | -€54,317 | |
| Income taxes | 67/77 | €7,778 | €451 | -€7,327 | -94.2% |
| Profit (loss) for the period | 9904 | €11,769 | -€35,221 | -€46,990 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,769 | -€35,221 | -€46,990 |
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 14 October 2026 via checked.be.