Ibicore: 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.
Ibicore
Largest movements
- Receivables within one year +€21,008
up €21,008 (+35.4%), from €59,388 to €80,396
of which Other amounts receivable: +€21,502
- Cash -€5,880
down €5,880 (-48.2%), from €12,188 to €6,308
mainly Receivables within one year (-€21,008) and Tax, wage and social debts (-€8,422)
- Tangible fixed assets +€2,176
up €2,176 (+92.9%), from €2,343 to €4,519
of which Plant, machinery and equipment: +€3,242
- Reserves +€20,821
up €20,821 (+71.5%), from €29,107 to €49,927
- Tax, wage and social debts -€8,422
down €8,422 (-47.9%), from €17,568 to €9,146
of which Taxes: -€7,100
- Trade debts +€2,999
up €2,999 (+15.9%), from €18,857 to €21,855
- Short-term financial debts +€2,204
up €2,204 (+65.9%), from €3,343 to €5,547
of which Other loans: +€2,187
- Gross operating margin -€10,073
down €10,073 (-24.2%), from €41,683 to €31,609
- Taxes -€1,827
down €1,827 (-25.0%), from €7,300 to €5,473
- Other operating charges +€1,177
up €1,177 (+262.0%), from €449 to €1,627
- Write-downs -€1,035
down €1,035 (-42.6%), from €2,430 to €1,395
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 | €73,982 | €91,475 | +€17,493 | +23.6% |
| Fixed assets | 21/28 | €2,406 | €4,644 | +€2,238 | +93.0% |
| Tangible fixed assets | 22/27 | €2,343 | €4,519 | +€2,176 | +92.9% |
| Plant, machinery and equipment | 23 | - | €3,242 | +€3,242 | |
| Furniture and vehicles | 24 | €2,343 | €1,276 | -€1,067 | -45.5% |
| Financial fixed assets | 28 | €63 | €125 | +€63 | +100.0% |
| Current assets | 29/58 | €71,576 | €86,831 | +€15,255 | +21.3% |
| Amounts receivable within one year | 40/41 | €59,388 | €80,396 | +€21,008 | +35.4% |
| Trade receivables | 40 | €37,830 | €37,336 | -€494 | -1.3% |
| Other amounts receivable | 41 | €21,558 | €43,060 | +€21,502 | +99.7% |
| Cash at bank and in hand | 54/58 | €12,188 | €6,308 | -€5,880 | -48.2% |
| Deferred charges and accrued income | 490/1 | - | €127 | +€127 | |
| Total equity and liabilities | 10/49 | €73,982 | €91,475 | +€17,493 | +23.6% |
| Equity | 10/15 | €34,107 | €54,927 | +€20,821 | +61.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €29,107 | €49,927 | +€20,821 | +71.5% |
| Distributable reserves | 133 | €29,107 | €49,927 | +€20,821 | +71.5% |
| Amounts payable | 17/49 | €39,875 | €36,548 | -€3,327 | -8.3% |
| Amounts payable within one year | 42/48 | €39,875 | €36,548 | -€3,327 | -8.3% |
| Financial debts | 43 | €3,343 | €5,547 | +€2,204 | +65.9% |
| Credit institutions | 430/8 | €3,343 | €3,359 | +€16 | +0.5% |
| Other loans | 439 | - | €2,187 | +€2,187 | |
| Trade debts | 44 | €18,857 | €21,855 | +€2,999 | +15.9% |
| Suppliers | 440/4 | €18,857 | €21,855 | +€2,999 | +15.9% |
| Taxes, remuneration and social security | 45 | €17,568 | €9,146 | -€8,422 | -47.9% |
| Taxes | 450/3 | €16,246 | €9,146 | -€7,100 | -43.7% |
| Remuneration and social security | 454/9 | €1,323 | - | -€1,323 | |
| Other amounts payable | 47/48 | €107 | - | -€107 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,236 | €1,877 | -€359 | -16.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,430 | €1,395 | -€1,035 | -42.6% |
| Other operating charges | 640/8 | €449 | €1,627 | +€1,177 | +262.0% |
| Gross operating margin | 9900 | €41,683 | €31,609 | -€10,073 | -24.2% |
| Operating profit (loss) | 9901 | €36,567 | €26,710 | -€9,858 | -27.0% |
| Financial income | 75/76B | €1 | €6 | +€5 | +546.0% |
| Recurring financial income | 75 | €1 | €6 | +€5 | +546.0% |
| Financial charges | 65/66B | €162 | €423 | +€261 | +161.4% |
| Recurring financial charges | 65 | €162 | €423 | +€261 | +161.4% |
| Profit (loss) for the period before taxes | 9903 | €36,407 | €26,293 | -€10,113 | -27.8% |
| Income taxes | 67/77 | €7,300 | €5,473 | -€1,827 | -25.0% |
| Profit (loss) for the period | 9904 | €29,107 | €20,821 | -€8,286 | -28.5% |
| Profit (loss) for the period to be appropriated | 9905 | €29,107 | €20,821 | -€8,286 | -28.5% |
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 12 October 2026 via checked.be.