IBX: 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.
IBX
Largest movements
- Receivables within one year -€50,772
down €50,772 (-28.2%), from €179,861 to €129,089
of which Trade receivables: -€47,284
- Cash -€3,725
down €3,725 (-23.2%), from €16,052 to €12,327
mainly Other debts (-€66,468) and Trade debts (-€1,635)
- Tangible fixed assets -€2,866
down €2,866 (-13.4%), from €21,400 to €18,534
- Other debts -€66,468
down €66,468 (-46.5%), from €142,865 to €76,397
- Tax, wage and social debts +€8,701
up €8,701 (+30.0%), from €29,024 to €37,725
of which Remuneration and social security: +€7,305
- Gross operating margin -€40,987
down €40,987 (-40.2%), from €101,970 to €60,983
- Taxes -€8,512
down €8,512 (-93.9%), from €9,068 to €556
- Staff costs +€5,871
up €5,871 (+11.8%), from €49,649 to €55,520
- Write-downs -€1,379
new in 2025: -€1,379
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 | €223,756 | €166,391 | -€57,365 | -25.6% |
| Fixed assets | 21/28 | €27,760 | €24,894 | -€2,866 | -10.3% |
| Tangible fixed assets | 22/27 | €21,400 | €18,534 | -€2,866 | -13.4% |
| Land and buildings | 22 | €17,468 | €16,320 | -€1,148 | -6.6% |
| Plant, machinery and equipment | 23 | €685 | €352 | -€332 | -48.5% |
| Other tangible fixed assets | 26 | €3,248 | €1,861 | -€1,387 | -42.7% |
| Financial fixed assets | 28 | €6,360 | €6,360 | = | 0.0% |
| Current assets | 29/58 | €195,996 | €141,497 | -€54,499 | -27.8% |
| Amounts receivable within one year | 40/41 | €179,861 | €129,089 | -€50,772 | -28.2% |
| Trade receivables | 40 | €55,348 | €8,064 | -€47,284 | -85.4% |
| Other amounts receivable | 41 | €124,513 | €121,025 | -€3,488 | -2.8% |
| Cash at bank and in hand | 54/58 | €16,052 | €12,327 | -€3,725 | -23.2% |
| Deferred charges and accrued income | 490/1 | €83 | €81 | -€2 | -2.4% |
| Total equity and liabilities | 10/49 | €223,756 | €166,391 | -€57,365 | -25.6% |
| Equity | 10/15 | €46,671 | €48,708 | +€2,036 | +4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,071 | €30,108 | +€2,036 | +7.3% |
| Distributable reserves | 133 | €28,071 | €30,108 | +€2,036 | +7.3% |
| Amounts payable | 17/49 | €177,084 | €117,683 | -€59,401 | -33.5% |
| Amounts payable within one year | 42/48 | €177,084 | €117,683 | -€59,401 | -33.5% |
| Trade debts | 44 | €5,196 | €3,561 | -€1,635 | -31.5% |
| Suppliers | 440/4 | €5,196 | €3,561 | -€1,635 | -31.5% |
| Taxes, remuneration and social security | 45 | €29,024 | €37,725 | +€8,701 | +30.0% |
| Taxes | 450/3 | €15,148 | €16,544 | +€1,396 | +9.2% |
| Remuneration and social security | 454/9 | €13,875 | €21,181 | +€7,305 | +52.6% |
| Other amounts payable | 47/48 | €142,865 | €76,397 | -€66,468 | -46.5% |
| Remuneration, social security and pensions | 62 | €49,649 | €55,520 | +€5,871 | +11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,130 | €2,866 | -€264 | -8.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€1,379 | -€1,379 | |
| Other operating charges | 640/8 | €289 | €189 | -€100 | -34.7% |
| Non-recurring operating charges | 66A | - | €1,140 | +€1,140 | |
| Gross operating margin | 9900 | €101,970 | €60,983 | -€40,987 | -40.2% |
| Operating profit (loss) | 9901 | €48,902 | €2,647 | -€46,254 | -94.6% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €139 | €55 | -€84 | -60.5% |
| Recurring financial charges | 65 | €130 | €55 | -€74 | -57.5% |
| Non-recurring financial charges | 66B | €10 | - | -€10 | |
| Profit (loss) for the period before taxes | 9903 | €48,764 | €2,592 | -€46,171 | -94.7% |
| Income taxes | 67/77 | €9,068 | €556 | -€8,512 | -93.9% |
| Profit (loss) for the period | 9904 | €39,695 | €2,036 | -€37,659 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €39,695 | €2,036 | -€37,659 | -94.9% |
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.