IBF: 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.
IBF
Largest movements
- Tangible fixed assets -€265,748
down €265,748 (-3.6%), from €7.4m to €7.1m
- Cash +€233,252
up €233,252 (+143.3%), from €162,734 to €395,986
mainly Net result for the year (+€573,269) and Depreciation (+€265,748)
- Revaluation surpluses -€258,923
down €258,923 (-2.9%), from €9.0m to €8.7m
- Reserves +€258,923
up €258,923 (+10.7%), from €2.4m to €2.7m
of which Distributable reserves: +€258,923
- Depreciation -€15,217
down €15,217 (-5.4%), from €280,965 to €265,748
- Gross operating margin +€9,648
up €9,648 (+2.9%), from €331,830 to €341,478
- Taxes +€5,975
up €5,975 (+8.4%), from €71,260 to €77,236
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 | €12,273,687 | €12,300,969 | +€27,282 | +0.2% |
| Fixed assets | 21/28 | €11,673,777 | €11,408,028 | -€265,748 | -2.3% |
| Tangible fixed assets | 22/27 | €7,375,774 | €7,110,026 | -€265,748 | -3.6% |
| Land and buildings | 22 | €7,375,774 | €7,110,026 | -€265,748 | -3.6% |
| Financial fixed assets | 28 | €4,298,002 | €4,298,002 | = | 0.0% |
| Current assets | 29/58 | €599,910 | €892,941 | +€293,031 | +48.8% |
| Amounts receivable after more than one year | 29 | €430,000 | €490,000 | +€60,000 | +14.0% |
| Trade receivables | 290 | €430,000 | €490,000 | +€60,000 | +14.0% |
| Cash at bank and in hand | 54/58 | €162,734 | €395,986 | +€233,252 | +143.3% |
| Deferred charges and accrued income | 490/1 | €7,176 | €6,955 | -€221 | -3.1% |
| Total equity and liabilities | 10/49 | €12,273,687 | €12,300,969 | +€27,282 | +0.2% |
| Equity | 10/15 | €11,698,011 | €11,694,080 | -€3,931 | 0.0% |
| Contributions | 10/11 | €292,600 | €292,600 | = | 0.0% |
| Capital | 10 | €292,600 | €292,600 | = | 0.0% |
| Issued capital | 100 | €292,600 | €292,600 | = | 0.0% |
| Revaluation surpluses | 12 | €8,982,054 | €8,723,131 | -€258,923 | -2.9% |
| Reserves | 13 | €2,417,376 | €2,676,299 | +€258,923 | +10.7% |
| Non-distributable reserves | 130/1 | €29,260 | €29,260 | = | 0.0% |
| Legal reserve | 130 | €29,260 | €29,260 | = | 0.0% |
| Distributable reserves | 133 | €2,388,116 | €2,647,039 | +€258,923 | +10.8% |
| Profit (loss) carried forward | 14 | €5,981 | €2,049 | -€3,931 | -65.7% |
| Amounts payable | 17/49 | €575,676 | €606,889 | +€31,214 | +5.4% |
| Amounts payable within one year | 42/48 | €575,676 | €606,889 | +€31,214 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €4,435 | - | -€4,435 | |
| Trade debts | 44 | €47 | €1,658 | +€1,611 | +3442.5% |
| Suppliers | 440/4 | €47 | €1,658 | +€1,611 | +3442.5% |
| Taxes, remuneration and social security | 45 | €19,994 | €28,031 | +€8,038 | +40.2% |
| Taxes | 450/3 | €19,994 | €28,031 | +€8,038 | +40.2% |
| Other amounts payable | 47/48 | €551,200 | €577,200 | +€26,000 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €280,965 | €265,748 | -€15,217 | -5.4% |
| Other operating charges | 640/8 | €38,167 | €39,363 | +€1,196 | +3.1% |
| Gross operating margin | 9900 | €331,830 | €341,478 | +€9,648 | +2.9% |
| Operating profit (loss) | 9901 | €12,698 | €36,367 | +€23,668 | +186.4% |
| Financial income | 75/76B | €611,311 | €614,330 | +€3,019 | +0.5% |
| Recurring financial income | 75 | €611,311 | €614,330 | +€3,019 | +0.5% |
| Financial charges | 65/66B | €487 | €192 | -€295 | -60.6% |
| Recurring financial charges | 65 | €487 | €192 | -€295 | -60.6% |
| Profit (loss) for the period before taxes | 9903 | €623,522 | €650,504 | +€26,982 | +4.3% |
| Income taxes | 67/77 | €71,260 | €77,236 | +€5,975 | +8.4% |
| Profit (loss) for the period | 9904 | €552,262 | €573,269 | +€21,007 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €552,262 | €573,269 | +€21,007 | +3.8% |
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 10 October 2026 via checked.be.