IBFM 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.
IBFM GROUP
Largest movements
- Receivables within one year +€49,420
up €49,420 (+86.1%), from €57,418 to €106,838
of which Trade receivables: +€47,899
- Cash -€26,690
down €26,690 (-30.6%), from €87,192 to €60,502
mainly Receivables within one year (-€49,420) and Tax, wage and social debts (-€4,923)
- Stocks and contracts -€10,914
down €10,914 (-64.8%), from €16,831 to €5,917
- Tangible fixed assets -€3,333
down €3,333 (-36.4%), from €9,148 to €5,815
- Profit (loss) carried forward +€8,321
up €8,321 (+25.8%), from €32,220 to €40,541
- Trade debts +€6,804
up €6,804 (+24.9%), from €27,294 to €34,098
- Tax, wage and social debts -€4,923
down €4,923 (-7.2%), from €68,418 to €63,495
of which Remuneration and social security: -€5,409
- Gross operating margin -€13,634
down €13,634 (-7.4%), from €183,625 to €169,991
- Taxes -€9,002
no longer reported in 2025 (was €9,002)
- Staff costs -€4,212
down €4,212 (-2.6%), from €161,585 to €157,373
- Depreciation -€2,788
down €2,788 (-45.5%), from €6,122 to €3,334
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 | €179,706 | €189,909 | +€10,203 | +5.7% |
| Fixed assets | 21/28 | €17,606 | €14,273 | -€3,333 | -18.9% |
| Tangible fixed assets | 22/27 | €9,148 | €5,815 | -€3,333 | -36.4% |
| Plant, machinery and equipment | 23 | €933 | €98 | -€835 | -89.5% |
| Furniture and vehicles | 24 | €1,609 | €211 | -€1,398 | -86.9% |
| Other tangible fixed assets | 26 | €6,606 | €5,506 | -€1,100 | -16.7% |
| Financial fixed assets | 28 | €8,458 | €8,458 | = | 0.0% |
| Current assets | 29/58 | €162,100 | €175,636 | +€13,536 | +8.4% |
| Stocks and contracts in progress | 3 | €16,831 | €5,917 | -€10,914 | -64.8% |
| Stocks | 30/36 | €16,831 | €5,917 | -€10,914 | -64.8% |
| Amounts receivable within one year | 40/41 | €57,418 | €106,838 | +€49,420 | +86.1% |
| Trade receivables | 40 | €50,472 | €98,371 | +€47,899 | +94.9% |
| Other amounts receivable | 41 | €6,946 | €8,467 | +€1,521 | +21.9% |
| Cash at bank and in hand | 54/58 | €87,192 | €60,502 | -€26,690 | -30.6% |
| Deferred charges and accrued income | 490/1 | €659 | €2,379 | +€1,720 | +261% |
| Total equity and liabilities | 10/49 | €179,706 | €189,909 | +€10,203 | +5.7% |
| Equity | 10/15 | €82,220 | €90,541 | +€8,321 | +10.1% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €32,220 | €40,541 | +€8,321 | +25.8% |
| Amounts payable | 17/49 | €97,486 | €99,368 | +€1,882 | +1.9% |
| Amounts payable within one year | 42/48 | €97,486 | €99,368 | +€1,882 | +1.9% |
| Trade debts | 44 | €27,294 | €34,098 | +€6,804 | +24.9% |
| Suppliers | 440/4 | €27,294 | €34,098 | +€6,804 | +24.9% |
| Taxes, remuneration and social security | 45 | €68,418 | €63,495 | -€4,923 | -7.2% |
| Taxes | 450/3 | €8,164 | €8,650 | +€486 | +6.0% |
| Remuneration and social security | 454/9 | €60,254 | €54,845 | -€5,409 | -9.0% |
| Other amounts payable | 47/48 | €1,774 | €1,775 | +€1 | +0.1% |
| Remuneration, social security and pensions | 62 | €161,585 | €157,373 | -€4,212 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,122 | €3,334 | -€2,788 | -45.5% |
| Other operating charges | 640/8 | €63 | - | -€63 | |
| Gross operating margin | 9900 | €183,625 | €169,991 | -€13,634 | -7.4% |
| Operating profit (loss) | 9901 | €15,855 | €9,284 | -€6,571 | -41.4% |
| Financial charges | 65/66B | €1,216 | €963 | -€253 | -20.8% |
| Recurring financial charges | 65 | €1,216 | €963 | -€253 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €14,639 | €8,321 | -€6,318 | -43.2% |
| Income taxes | 67/77 | €9,002 | - | -€9,002 | |
| Profit (loss) for the period | 9904 | €5,637 | €8,321 | +€2,684 | +47.6% |
| Profit (loss) for the period to be appropriated | 9905 | €5,637 | €8,321 | +€2,684 | +47.6% |
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 19 October 2026 via checked.be.