IBG RENOV: what changed
IBG RENOV
Largest movements
- Receivables within one year +€60,795
up €60,795 (+216%), from €28,131 to €88,926
of which Trade receivables: +€58,858
- Tangible fixed assets -€10,097
down €10,097 (-32.9%), from €30,653 to €20,555
of which Furniture and vehicles: -€10,435
- Cash -€4,617
down €4,617 (-20.0%), from €23,047 to €18,430
mainly Receivables within one year (-€60,795) and Investment in fixed assets (net) (-€3,850)
- Trade debts +€25,306
up €25,306 (+566%), from €4,468 to €29,774
- Reserves +€20,842
up €20,842 (+29.3%), from €71,095 to €91,937
- Gross operating margin +€43,544
up €43,544, from -€7,696 to €35,848
- Depreciation -€2,339
down €2,339 (-14.4%), from €16,286 to €13,947
- Staff costs -€1,353
no longer reported in 2025 (was €1,353)
- Financial income -€400
down €400 (-85.0%), from €471 to €71
of which Financial income: -€400
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €81,831 | €127,911 | +€46,080 | +56.3% |
| Fixed assets | 21/28 | €30,653 | €20,555 | -€10,097 | -32.9% |
| Tangible fixed assets | 22/27 | €30,653 | €20,555 | -€10,097 | -32.9% |
| Plant, machinery and equipment | 23 | €4,876 | €5,214 | +€338 | +6.9% |
| Furniture and vehicles | 24 | €25,777 | €15,342 | -€10,435 | -40.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €51,178 | €107,356 | +€56,178 | +110% |
| Amounts receivable within one year | 40/41 | €28,131 | €88,926 | +€60,795 | +216% |
| Trade receivables | 40 | €25,214 | €84,072 | +€58,858 | +233% |
| Other amounts receivable | 41 | €2,917 | €4,855 | +€1,937 | +66.4% |
| Cash at bank and in hand | 54/58 | €23,047 | €18,430 | -€4,617 | -20.0% |
| Total equity and liabilities | 10/49 | €81,831 | €127,911 | +€46,080 | +56.3% |
| Equity | 10/15 | €77,295 | €98,137 | +€20,842 | +27.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €71,095 | €91,937 | +€20,842 | +29.3% |
| Distributable reserves | 133 | €71,095 | €91,937 | +€20,842 | +29.3% |
| Amounts payable | 17/49 | €4,536 | €29,774 | +€25,238 | +556% |
| Amounts payable within one year | 42/48 | €4,536 | €29,774 | +€25,238 | +556% |
| Trade debts | 44 | €4,468 | €29,774 | +€25,306 | +566% |
| Suppliers | 440/4 | €4,468 | €29,774 | +€25,306 | +566% |
| Other amounts payable | 47/48 | €68 | - | -€68 | |
| Remuneration, social security and pensions | 62 | €1,353 | - | -€1,353 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,286 | €13,947 | -€2,339 | -14.4% |
| Other operating charges | 640/8 | €693 | €400 | -€293 | -42.3% |
| Gross operating margin | 9900 | -€7,696 | €35,848 | +€43,544 | |
| Operating profit (loss) | 9901 | -€26,028 | €21,501 | +€47,529 | |
| Financial income | 75/76B | €471 | €71 | -€400 | -85.0% |
| Recurring financial income | 75 | €471 | €71 | -€400 | -85.0% |
| Non-recurring financial income | 76B | €471 | €71 | -€400 | -85.0% |
| Financial charges | 65/66B | €1,041 | €729 | -€311 | -29.9% |
| Recurring financial charges | 65 | €1,041 | €729 | -€311 | -29.9% |
| Profit (loss) for the period before taxes | 9903 | -€26,598 | €20,842 | +€47,440 | |
| Profit (loss) for the period | 9904 | -€26,598 | €20,842 | +€47,440 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,598 | €20,842 | +€47,440 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.