IBT: 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.
IBT
Largest movements
- Receivables after one year +€39,828
up €39,828 (+76.0%), from €52,438 to €92,266
- Cash -€19,039
down €19,039 (-84.1%), from €22,649 to €3,610
mainly Receivables after one year (-€39,828) and Deferred charges and accrued income (-€16,372)
- Deferred charges and accrued income +€16,372
new in 2025: €16,372
- Receivables within one year -€15,191
down €15,191 (-31.4%), from €48,404 to €33,213
of which Other amounts receivable: -€22,043
- Tangible fixed assets -€3,929
down €3,929 (-2.9%), from €136,466 to €132,537
of which Land and buildings: -€6,033
- Reserves +€36,845
up €36,845 (+193.1%), from €19,077 to €55,922
- Tax, wage and social debts +€14,470
up €14,470 (+58.8%), from €24,629 to €39,099
- Trade debts -€11,981
down €11,981 (-48.3%), from €24,787 to €12,806
- Current portion of long-term debt -€11,616
down €11,616 (-30.0%), from €38,669 to €27,053
- Debts after one year -€8,907
down €8,907 (-6.7%), from €133,475 to €124,568
- Gross operating margin +€22,694
up €22,694 (+44.8%), from €50,664 to €73,358
- Taxes +€5,758
up €5,758 (+45.6%), from €12,633 to €18,391
- Other operating charges +€4,213
up €4,213 (+120.7%), from €3,491 to €7,704
- Financial charges +€770
up €770 (+16.4%), from €4,699 to €5,469
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 | €259,957 | €277,998 | +€18,041 | +6.9% |
| Fixed assets | 21/28 | €136,466 | €132,537 | -€3,929 | -2.9% |
| Tangible fixed assets | 22/27 | €136,466 | €132,537 | -€3,929 | -2.9% |
| Land and buildings | 22 | €135,970 | €129,937 | -€6,033 | -4.4% |
| Furniture and vehicles | 24 | €496 | €2,600 | +€2,104 | +424.2% |
| Current assets | 29/58 | €123,491 | €145,461 | +€21,970 | +17.8% |
| Amounts receivable after more than one year | 29 | €52,438 | €92,266 | +€39,828 | +76.0% |
| Other amounts receivable | 291 | €52,438 | €92,266 | +€39,828 | +76.0% |
| Amounts receivable within one year | 40/41 | €48,404 | €33,213 | -€15,191 | -31.4% |
| Trade receivables | 40 | €15,020 | €21,872 | +€6,852 | +45.6% |
| Other amounts receivable | 41 | €33,384 | €11,341 | -€22,043 | -66.0% |
| Cash at bank and in hand | 54/58 | €22,649 | €3,610 | -€19,039 | -84.1% |
| Deferred charges and accrued income | 490/1 | - | €16,372 | +€16,372 | |
| Total equity and liabilities | 10/49 | €259,957 | €277,998 | +€18,041 | +6.9% |
| Equity | 10/15 | €37,627 | €74,472 | +€36,845 | +97.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €19,077 | €55,922 | +€36,845 | +193.1% |
| Distributable reserves | 133 | €19,077 | €55,922 | +€36,845 | +193.1% |
| Amounts payable | 17/49 | €222,330 | €203,526 | -€18,804 | -8.5% |
| Amounts payable after more than one year | 17 | €133,475 | €124,568 | -€8,907 | -6.7% |
| Financial debts | 170/4 | €133,475 | €124,568 | -€8,907 | -6.7% |
| Amounts payable within one year | 42/48 | €88,085 | €78,958 | -€9,127 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €38,669 | €27,053 | -€11,616 | -30.0% |
| Trade debts | 44 | €24,787 | €12,806 | -€11,981 | -48.3% |
| Suppliers | 440/4 | €24,787 | €12,806 | -€11,981 | -48.3% |
| Taxes, remuneration and social security | 45 | €24,629 | €39,099 | +€14,470 | +58.8% |
| Taxes | 450/3 | €24,629 | €39,099 | +€14,470 | +58.8% |
| Accrued charges and deferred income | 492/3 | €770 | - | -€770 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,280 | €6,312 | +€32 | +0.5% |
| Other operating charges | 640/8 | €3,491 | €7,704 | +€4,213 | +120.7% |
| Gross operating margin | 9900 | €50,664 | €73,358 | +€22,694 | +44.8% |
| Operating profit (loss) | 9901 | €40,893 | €59,342 | +€18,449 | +45.1% |
| Financial income | 75/76B | €866 | €1,363 | +€497 | +57.4% |
| Recurring financial income | 75 | €866 | €1,363 | +€497 | +57.4% |
| Financial charges | 65/66B | €4,699 | €5,469 | +€770 | +16.4% |
| Recurring financial charges | 65 | €4,699 | €5,469 | +€770 | +16.4% |
| Profit (loss) for the period before taxes | 9903 | €37,060 | €55,236 | +€18,176 | +49.0% |
| Income taxes | 67/77 | €12,633 | €18,391 | +€5,758 | +45.6% |
| Profit (loss) for the period | 9904 | €24,427 | €36,845 | +€12,418 | +50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,427 | €36,845 | +€12,418 | +50.8% |
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 30 September 2026 via checked.be.