IDEAL FELT: 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.
What changed
IDEAL FELT
NACE 46.411, Wholesale trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€512,065
2024 · €515,427-€3,362
Equity
€456,034
2024 · €694,221-€238,188
Cash
€475,938
2024 · €367,434+€108,504
Balance sheet total
€1.6m
2024 · €1.6m-€45,543
Largest movements
Assets
- Cash +€108,504
up €108,504 (+29.5%), from €367,434 to €475,938
mainly Net result for the year (+€512,065) and Trade debts (+€117,140)
- Receivables within one year -€80,408
down €80,408 (-13.5%), from €595,124 to €514,716
of which Trade receivables: -€91,826
- Tangible fixed assets -€31,571
down €31,571 (-14.2%), from €222,318 to €190,747
of which Furniture and vehicles: -€66,687
- Stocks and contracts -€24,661
down €24,661 (-6.6%), from €376,081 to €351,421
- Intangible fixed assets -€23,034
down €23,034 (-39.6%), from €58,134 to €35,100
Equity and liabilities
- Profit (loss) carried forward -€267,935
down €267,935 (-70.6%), from €379,613 to €111,677
- Trade debts +€117,140
up €117,140 (+51.7%), from €226,511 to €343,651
- Debts after one year +€59,575
up €59,575 (+31.0%), from €192,328 to €251,903
- Investment grants +€29,747
up €29,747 (+457%), from €6,511 to €36,258
- Current portion of long-term debt +€27,682
up €27,682 (+25.5%), from €108,526 to €136,209
Income statement
- Staff costs -€92,363
down €92,363 (-13.7%), from €673,296 to €580,933
- Other operating charges +€29,428
up €29,428 (+69.1%), from €42,564 to €71,991
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.
Result 2024
€515,427
Gross operating margin
+€5,561
Staff costs
+€92,363
Depreciation
+€1,815
Other operating charges
-€29,428
Other operating items
-€49,180
Financial income
-€13,003
Financial charges
-€6,553
Taxes
-€4,007
Deferred taxes and other
-€932
Result 2025
€512,065
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€763,841
Investment
-€17,168
Financing
-€638,169
Cash 2024
€367,434
From operations (derived)
+€763,841
Net result for the year
+€512,065
Depreciation
+€71,773
Stocks and contracts
+€24,661
Receivables within one year
+€80,408
Deferred charges and accrued income
-€5,626
Trade debts
+€117,140
Tax, wage and social debts
-€9,030
Smaller working-capital items
-€914
Accrued charges and deferred income
-€26,636
Investment (derived)
-€17,168
Investment in fixed assets (net)
-€17,168
Financing
-€638,169
Debts after one year
+€59,575
Current portion of long-term debt
+€27,682
Short-term financial debts
+€24,827
Contributions, distributions and other
-€750,253
Cash 2025
€475,938
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,624,867 | €1,579,324 | -€45,543 | -2.8% |
| Fixed assets | 21/28 | €281,108 | €226,504 | -€54,605 | -19.4% |
| Intangible fixed assets | 21 | €58,134 | €35,100 | -€23,034 | -39.6% |
| Tangible fixed assets | 22/27 | €222,318 | €190,747 | -€31,571 | -14.2% |
| Plant, machinery and equipment | 23 | €135,850 | €170,967 | +€35,116 | +25.8% |
| Furniture and vehicles | 24 | €86,468 | €19,781 | -€66,687 | -77.1% |
| Financial fixed assets | 28 | €656 | €656 | = | 0.0% |
| Current assets | 29/58 | €1,343,759 | €1,352,820 | +€9,061 | +0.7% |
| Stocks and contracts in progress | 3 | €376,081 | €351,421 | -€24,661 | -6.6% |
| Stocks | 30/36 | €376,081 | €351,421 | -€24,661 | -6.6% |
| Amounts receivable within one year | 40/41 | €595,124 | €514,716 | -€80,408 | -13.5% |
| Trade receivables | 40 | €490,413 | €398,587 | -€91,826 | -18.7% |
| Other amounts receivable | 41 | €104,711 | €116,129 | +€11,418 | +10.9% |
| Cash at bank and in hand | 54/58 | €367,434 | €475,938 | +€108,504 | +29.5% |
| Deferred charges and accrued income | 490/1 | €5,119 | €10,745 | +€5,626 | +110% |
| Total equity and liabilities | 10/49 | €1,624,867 | €1,579,324 | -€45,543 | -2.8% |
| Equity | 10/15 | €694,221 | €456,034 | -€238,188 | -34.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Capital | 10 | €150,000 | €150,000 | = | 0.0% |
| Issued capital | 100 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €158,098 | €158,098 | = | 0.0% |
| Non-distributable reserves | 130/1 | €48,030 | €48,030 | = | 0.0% |
| Legal reserve | 130 | €48,030 | €48,030 | = | 0.0% |
| Tax-exempt reserves | 132 | €110,068 | €110,068 | = | 0.0% |
| Profit (loss) carried forward | 14 | €379,613 | €111,677 | -€267,935 | -70.6% |
| Investment grants | 15 | €6,511 | €36,258 | +€29,747 | +457% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €930,646 | €1,123,290 | +€192,644 | +20.7% |
| Amounts payable after more than one year | 17 | €192,328 | €251,903 | +€59,575 | +31.0% |
| Financial debts | 170/4 | €192,328 | €251,903 | +€59,575 | +31.0% |
| Amounts payable within one year | 42/48 | €634,319 | €794,025 | +€159,706 | +25.2% |
| Current portion of amounts payable after more than one year | 42 | €108,526 | €136,209 | +€27,682 | +25.5% |
| Financial debts | 43 | €57,363 | €82,189 | +€24,827 | +43.3% |
| Credit institutions | 430/8 | €57,363 | €82,189 | +€24,827 | +43.3% |
| Trade debts | 44 | €226,511 | €343,651 | +€117,140 | +51.7% |
| Suppliers | 440/4 | €226,511 | €343,651 | +€117,140 | +51.7% |
| Advances received on contracts in progress | 46 | €1,029 | €0 | -€1,029 | -100% |
| Taxes, remuneration and social security | 45 | €60,791 | €51,761 | -€9,030 | -14.9% |
| Taxes | 450/3 | €2,130 | €6,522 | +€4,392 | +206% |
| Remuneration and social security | 454/9 | €58,661 | €45,239 | -€13,422 | -22.9% |
| Other amounts payable | 47/48 | €180,100 | €180,215 | +€115 | +0.1% |
| Accrued charges and deferred income | 492/3 | €103,998 | €77,363 | -€26,636 | -25.6% |
| Non-recurring operating income | 76A | - | €12,464 | +€12,464 | |
| Remuneration, social security and pensions | 62 | €673,296 | €580,933 | -€92,363 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,588 | €71,773 | -€1,815 | -2.5% |
| Other operating charges | 640/8 | €42,564 | €71,991 | +€29,428 | +69.1% |
| Non-recurring operating charges | 66A | - | €49,180 | +€49,180 | |
| Gross operating margin | 9900 | €1,405,473 | €1,411,034 | +€5,561 | +0.4% |
| Operating profit (loss) | 9901 | €616,025 | €637,156 | +€21,131 | +3.4% |
| Financial income | 75/76B | €41,124 | €28,121 | -€13,003 | -31.6% |
| Recurring financial income | 75 | €41,124 | €28,121 | -€13,003 | -31.6% |
| Financial charges | 65/66B | €17,936 | €24,489 | +€6,553 | +36.5% |
| Recurring financial charges | 65 | €17,936 | €24,489 | +€6,553 | +36.5% |
| Profit (loss) for the period before taxes | 9903 | €639,213 | €640,789 | +€1,576 | +0.2% |
| Transfer from deferred taxes | 780 | €932 | €0 | -€932 | -100% |
| Income taxes | 67/77 | €124,717 | €128,724 | +€4,007 | +3.2% |
| Profit (loss) for the period | 9904 | €515,427 | €512,065 | -€3,362 | -0.7% |
| Transfer from tax-exempt reserves | 789 | €2,796 | €0 | -€2,796 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €518,223 | €512,065 | -€6,158 | -1.2% |
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 22 October 2026 via checked.be.