IBKEM: 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.
IBKEM
Largest movements
- Tangible fixed assets +€119,418
up €119,418 (+5.3%), from €2.3m to €2.4m
of which Land and buildings: +€119,418
- Receivables within one year -€93,140
down €93,140 (-25.5%), from €364,908 to €271,768
of which Other amounts receivable: -€93,443
- Profit (loss) carried forward -€79,513
down €79,513 (-21.3%), from -€372,835 to -€452,347
- Trade debts +€78,024
up €78,024 (+789%), from €9,884 to €87,908
- Gross operating margin -€101,214
down €101,214, from €70,823 to -€30,391
- Other operating charges -€9,476
down €9,476 (-70.2%), from €13,495 to €4,019
- Depreciation +€8,612
up €8,612 (+1,120%), from €769 to €9,381
- Taxes -€5,520
no longer reported in 2025 (was €5,520)
- Financial charges -€985
down €985 (-2.6%), from €38,123 to €37,138
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 | €2,649,159 | €2,654,976 | +€5,817 | +0.2% |
| Fixed assets | 21/28 | €2,254,556 | €2,373,974 | +€119,418 | +5.3% |
| Tangible fixed assets | 22/27 | €2,254,556 | €2,373,974 | +€119,418 | +5.3% |
| Land and buildings | 22 | €2,186,041 | €2,305,459 | +€119,418 | +5.5% |
| Furniture and vehicles | 24 | €68,515 | €68,515 | = | 0.0% |
| Current assets | 29/58 | €394,603 | €281,002 | -€113,601 | -28.8% |
| Amounts receivable within one year | 40/41 | €364,908 | €271,768 | -€93,140 | -25.5% |
| Trade receivables | 40 | - | €303 | +€303 | |
| Other amounts receivable | 41 | €364,908 | €271,465 | -€93,443 | -25.6% |
| Cash at bank and in hand | 54/58 | €29,695 | €9,234 | -€20,461 | -68.9% |
| Total equity and liabilities | 10/49 | €2,649,159 | €2,654,976 | +€5,817 | +0.2% |
| Equity | 10/15 | €309,291 | €229,778 | -€79,513 | -25.7% |
| Contributions | 10/11 | €625,931 | €625,931 | = | 0.0% |
| Capital | 10 | €625,931 | €625,931 | = | 0.0% |
| Issued capital | 100 | €625,931 | €625,931 | = | 0.0% |
| Reserves | 13 | €56,194 | €56,194 | = | 0.0% |
| Non-distributable reserves | 130/1 | €56,194 | €56,194 | = | 0.0% |
| Legal reserve | 130 | €56,194 | €56,194 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€372,835 | -€452,347 | -€79,513 | -21.3% |
| Amounts payable | 17/49 | €2,339,869 | €2,425,199 | +€85,330 | +3.6% |
| Amounts payable after more than one year | 17 | €1,487 | €1,487 | = | 0.0% |
| Other amounts payable | 178/9 | €1,487 | €1,487 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,338,381 | €2,423,711 | +€85,330 | +3.6% |
| Financial debts | 43 | €565,000 | €565,000 | = | 0.0% |
| Credit institutions | 430/8 | €565,000 | €565,000 | = | 0.0% |
| Trade debts | 44 | €9,884 | €87,908 | +€78,024 | +789% |
| Suppliers | 440/4 | €9,884 | €87,908 | +€78,024 | +789% |
| Taxes, remuneration and social security | 45 | €5,534 | €14,431 | +€8,897 | +161% |
| Taxes | 450/3 | €5,534 | €14,431 | +€8,897 | +161% |
| Other amounts payable | 47/48 | €1,757,963 | €1,756,372 | -€1,591 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €769 | €9,381 | +€8,612 | +1,120% |
| Other operating charges | 640/8 | €13,495 | €4,019 | -€9,476 | -70.2% |
| Gross operating margin | 9900 | €70,823 | -€30,391 | -€101,214 | |
| Operating profit (loss) | 9901 | €56,559 | -€43,791 | -€100,350 | |
| Financial income | 75/76B | €1,496 | €1,416 | -€80 | -5.4% |
| Recurring financial income | 75 | €1,496 | €1,416 | -€80 | -5.4% |
| Financial charges | 65/66B | €38,123 | €37,138 | -€985 | -2.6% |
| Recurring financial charges | 65 | €38,123 | €37,138 | -€985 | -2.6% |
| Profit (loss) for the period before taxes | 9903 | €19,932 | -€79,513 | -€99,445 | |
| Income taxes | 67/77 | €5,520 | - | -€5,520 | |
| Profit (loss) for the period | 9904 | €14,411 | -€79,513 | -€93,924 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,411 | -€79,513 | -€93,924 |
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 26 October 2026 via checked.be.