IBG: 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.
IBG
Largest movements
- Tangible fixed assets +€1.3m
up €1.3m (+21,620%), from €6,140 to €1.3m
of which Land and buildings: +€1.3m
- Receivables within one year -€563,884
down €563,884 (-91.2%), from €618,486 to €54,603
of which Other amounts receivable: -€609,884
- Stocks and contracts +€85,022
up €85,022 (+3.8%), from €2.2m to €2.3m
- Debts after one year +€547,677
up €547,677 (+150%), from €365,000 to €912,677
- Other debts +€333,020
up €333,020 (+1,009%), from €33,000 to €366,020
- Profit (loss) carried forward -€82,530
down €82,530 (-24.6%), from -€335,344 to -€417,874
- Gross operating margin -€34,238
down €34,238, from €21,871 to -€12,367
- Financial income -€18,657
down €18,657 (-98.3%), from €18,977 to €320
- Financial charges -€9,256
down €9,256 (-12.9%), from €71,493 to €62,237
- Depreciation +€6,962
up €6,962 (+18,644%), from €37 to €6,999
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 | €2,887,971 | €3,715,438 | +€827,467 | +28.7% |
| Fixed assets | 21/28 | €6,264 | €1,333,666 | +€1.3m | +21,192% |
| Tangible fixed assets | 22/27 | €6,140 | €1,333,542 | +€1.3m | +21,620% |
| Land and buildings | 22 | €6,140 | €1,327,134 | +€1.3m | +21,516% |
| Plant, machinery and equipment | 23 | - | €6,407 | +€6,407 | |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €2,881,708 | €2,381,773 | -€499,935 | -17.3% |
| Stocks and contracts in progress | 3 | €2,239,499 | €2,324,522 | +€85,022 | +3.8% |
| Stocks | 30/36 | €2,239,499 | €2,324,522 | +€85,022 | +3.8% |
| Amounts receivable within one year | 40/41 | €618,486 | €54,603 | -€563,884 | -91.2% |
| Trade receivables | 40 | - | €46,000 | +€46,000 | |
| Other amounts receivable | 41 | €618,486 | €8,603 | -€609,884 | -98.6% |
| Cash at bank and in hand | 54/58 | €4,745 | €2,648 | -€2,097 | -44.2% |
| Deferred charges and accrued income | 490/1 | €18,977 | €0 | -€18,977 | -100% |
| Total equity and liabilities | 10/49 | €2,887,971 | €3,715,438 | +€827,467 | +28.7% |
| Equity | 10/15 | €1,232,046 | €1,149,516 | -€82,530 | -6.7% |
| Contributions | 10/11 | €1,498,842 | €1,498,842 | = | 0.0% |
| Reserves | 13 | €68,548 | €68,548 | = | 0.0% |
| Distributable reserves | 133 | €68,548 | €68,548 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€335,344 | -€417,874 | -€82,530 | -24.6% |
| Amounts payable | 17/49 | €1,655,925 | €2,565,922 | +€909,997 | +55.0% |
| Amounts payable after more than one year | 17 | €365,000 | €912,677 | +€547,677 | +150% |
| Financial debts | 170/4 | €365,000 | €912,677 | +€547,677 | +150% |
| Amounts payable within one year | 42/48 | €1,290,925 | €1,644,339 | +€353,413 | +27.4% |
| Current portion of amounts payable after more than one year | 42 | - | €21,123 | +€21,123 | |
| Financial debts | 43 | €1,250,000 | €1,250,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,250,000 | €1,250,000 | = | 0.0% |
| Trade debts | 44 | €7,925 | €7,196 | -€729 | -9.2% |
| Suppliers | 440/4 | €7,925 | €7,196 | -€729 | -9.2% |
| Other amounts payable | 47/48 | €33,000 | €366,020 | +€333,020 | +1,009% |
| Accrued charges and deferred income | 492/3 | - | €8,907 | +€8,907 | |
| Non-recurring operating income | 76A | €35,138 | €0 | -€35,138 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37 | €6,999 | +€6,962 | +18,644% |
| Other operating charges | 640/8 | €1,262 | €1,247 | -€15 | -1.2% |
| Gross operating margin | 9900 | €21,871 | -€12,367 | -€34,238 | |
| Operating profit (loss) | 9901 | €20,571 | -€20,613 | -€41,184 | |
| Financial income | 75/76B | €18,977 | €320 | -€18,657 | -98.3% |
| Recurring financial income | 75 | €18,977 | €320 | -€18,657 | -98.3% |
| Financial charges | 65/66B | €71,493 | €62,237 | -€9,256 | -12.9% |
| Recurring financial charges | 65 | €71,493 | €62,237 | -€9,256 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€31,945 | -€82,530 | -€50,585 | -158% |
| Profit (loss) for the period | 9904 | -€31,945 | -€82,530 | -€50,585 | -158% |
| Profit (loss) for the period to be appropriated | 9905 | -€31,945 | -€82,530 | -€50,585 | -158% |
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.