IBRADEL: what changed
Two fiscal 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.
IBRADEL
Largest movements
- Stocks and contracts -€70,000
no longer reported in 2025 (was €70,000)
- Receivables within one year -€18,507
down €18,507 (-75.3%), from €24,579 to €6,072
of which Other amounts receivable: -€15,672
- Tangible fixed assets +€13,534
new in 2025: €13,534
- Trade debts -€53,733
down €53,733 (-71.1%), from €75,576 to €21,843
- Tax, wage and social debts -€19,276
down €19,276 (-36.6%), from €52,651 to €33,376
of which Remuneration and social security: -€26,076
- Profit (loss) carried forward -€2,528
down €2,528 (-8.7%), from -€29,104 to -€31,632
- Turnover -€198,340
no longer reported in 2025 (was €198,340)
- Purchases and services -€101,516
no longer reported in 2025 (was €101,516)
- Staff costs +€19,031
up €19,031 (+21.0%), from €90,654 to €109,685
- Gross operating margin +€15,765
up €15,765 (+16.3%), from €96,823 to €112,588
- Other operating charges +€4,617
up €4,617 (+2507.8%), from €184 to €4,801
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 | €102,123 | €26,587 | -€75,536 | -74.0% |
| Fixed assets | 21/28 | €3,000 | €16,534 | +€13,534 | +451.1% |
| Tangible fixed assets | 22/27 | - | €13,534 | +€13,534 | |
| Furniture and vehicles | 24 | - | €13,534 | +€13,534 | |
| Financial fixed assets | 28 | €3,000 | €3,000 | = | 0.0% |
| Current assets | 29/58 | €99,123 | €10,053 | -€89,070 | -89.9% |
| Stocks and contracts in progress | 3 | €70,000 | - | -€70,000 | |
| Stocks | 30/36 | €70,000 | - | -€70,000 | |
| Amounts receivable within one year | 40/41 | €24,579 | €6,072 | -€18,507 | -75.3% |
| Trade receivables | 40 | €4,693 | €1,857 | -€2,836 | -60.4% |
| Other amounts receivable | 41 | €19,887 | €4,215 | -€15,672 | -78.8% |
| Cash at bank and in hand | 54/58 | €4,543 | €3,981 | -€563 | -12.4% |
| Total equity and liabilities | 10/49 | €102,123 | €26,587 | -€75,536 | -74.0% |
| Equity | 10/15 | -€26,104 | -€28,632 | -€2,528 | -9.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,104 | -€31,632 | -€2,528 | -8.7% |
| Amounts payable | 17/49 | €128,227 | €55,219 | -€73,008 | -56.9% |
| Amounts payable within one year | 42/48 | €128,227 | €55,219 | -€73,008 | -56.9% |
| Trade debts | 44 | €75,576 | €21,843 | -€53,733 | -71.1% |
| Suppliers | 440/4 | €75,576 | €21,843 | -€53,733 | -71.1% |
| Taxes, remuneration and social security | 45 | €52,651 | €33,376 | -€19,276 | -36.6% |
| Taxes | 450/3 | €13,519 | €20,319 | +€6,800 | +50.3% |
| Remuneration and social security | 454/9 | €39,132 | €13,056 | -€26,076 | -66.6% |
| Turnover | 70 | €198,340 | - | -€198,340 | |
| Goods, raw materials, services and sundry goods | 60/61 | €101,516 | - | -€101,516 | |
| Remuneration, social security and pensions | 62 | €90,654 | €109,685 | +€19,031 | +21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €289 | €467 | +€178 | +61.5% |
| Other operating charges | 640/8 | €184 | €4,801 | +€4,617 | +2507.8% |
| Gross operating margin | 9900 | €96,823 | €112,588 | +€15,765 | +16.3% |
| Operating profit (loss) | 9901 | €5,696 | -€2,365 | -€8,061 | |
| Financial charges | 65/66B | €38 | €163 | +€125 | +326.5% |
| Recurring financial charges | 65 | €38 | €163 | +€125 | +326.5% |
| Profit (loss) for the period before taxes | 9903 | €5,658 | -€2,528 | -€8,186 | |
| Income taxes | 67/77 | €2,916 | - | -€2,916 | |
| Profit (loss) for the period | 9904 | €2,742 | -€2,528 | -€5,270 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,742 | -€2,528 | -€5,270 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.