IDECO: 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
IDECO
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€20,084
2024 · €11,484-€31,568
Equity
€918,536
2024 · €794,772+€123,764
Cash
€251,082
2024 · €69,466+€181,616
Balance sheet total
€3.2m
2024 · €3.1m+€66,674
Largest movements
Assets
- Cash +€181,616
up €181,616 (+261%), from €69,466 to €251,082
mainly Contributions, distributions and other (+€143,849) and Depreciation (+€79,651)
- Tangible fixed assets -€85,572
down €85,572 (-4.2%), from €2.0m to €2.0m
of which Land and buildings: -€63,209
Equity and liabilities
- Reserves +€132,861
up €132,861 (+37.3%), from €356,495 to €489,356
of which Tax-exempt reserves: +€132,861
- Other debts -€52,659
down €52,659 (-2.5%), from €2.1m to €2.0m
- Provisions +€43,219
up €43,219 (+31.0%), from €139,396 to €182,615
Income statement
- Gross operating margin -€45,060
down €45,060 (-38.5%), from €116,973 to €71,913
- Taxes -€9,981
down €9,981 (-66.7%), from €14,970 to €4,989
- Other operating charges -€1,378
down €1,378 (-12.0%), from €11,471 to €10,093
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
€11,484
Gross operating margin
-€45,060
Depreciation
+€389
Other operating charges
+€1,378
Financial income
+€909
Financial charges
+€834
Taxes
+€9,981
Result 2025
-€20,084
raises the resultlowers the result
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
+€51,035
Investment
+€5,921
Financing
+€124,660
Cash 2024
€69,466
From operations (derived)
+€51,035
Net result for the year
-€20,084
Depreciation
+€79,651
Receivables within one year
+€28,664
Deferred charges and accrued income
+€706
Provisions
+€43,219
Trade debts
-€897
Tax, wage and social debts
-€27,565
Other debts
-€52,659
Investment (derived)
+€5,921
Investment in fixed assets (net)
+€5,921
Financing
+€124,660
Debts after one year
-€20,113
Current portion of long-term debt
+€924
Contributions, distributions and other
+€143,849
Cash 2025
€251,082
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,141,232 | €3,207,906 | +€66,674 | +2.1% |
| Fixed assets | 21/28 | €2,955,560 | €2,869,988 | -€85,572 | -2.9% |
| Tangible fixed assets | 22/27 | €2,040,093 | €1,954,521 | -€85,572 | -4.2% |
| Land and buildings | 22 | €1,881,261 | €1,818,052 | -€63,209 | -3.4% |
| Plant, machinery and equipment | 23 | €53,988 | €59,168 | +€5,179 | +9.6% |
| Furniture and vehicles | 24 | €104,844 | €77,301 | -€27,543 | -26.3% |
| Financial fixed assets | 28 | €915,467 | €915,467 | = | 0.0% |
| Current assets | 29/58 | €185,672 | €337,918 | +€152,247 | +82.0% |
| Amounts receivable within one year | 40/41 | €114,928 | €86,264 | -€28,664 | -24.9% |
| Trade receivables | 40 | €76,868 | €36,481 | -€40,387 | -52.5% |
| Other amounts receivable | 41 | €38,060 | €49,783 | +€11,723 | +30.8% |
| Cash at bank and in hand | 54/58 | €69,466 | €251,082 | +€181,616 | +261% |
| Deferred charges and accrued income | 490/1 | €1,278 | €572 | -€706 | -55.2% |
| Total equity and liabilities | 10/49 | €3,141,232 | €3,207,906 | +€66,674 | +2.1% |
| Equity | 10/15 | €794,772 | €918,536 | +€123,764 | +15.6% |
| Contributions | 10/11 | €459,656 | €459,656 | = | 0.0% |
| Capital | 10 | €0 | - | = | |
| Issued capital | 100 | €0 | - | = | |
| Contributions outside capital | 11 | €459,656 | €459,656 | = | 0.0% |
| Other | 1109/19 | €459,656 | €459,656 | = | 0.0% |
| Reserves | 13 | €356,495 | €489,356 | +€132,861 | +37.3% |
| Non-distributable reserves | 130/1 | €1,433 | €1,433 | = | 0.0% |
| Legal reserve | 130 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €1,433 | €0 | -€1,433 | -100% |
| Other | 1319 | - | €1,433 | +€1,433 | |
| Tax-exempt reserves | 132 | €334,802 | €467,663 | +€132,861 | +39.7% |
| Distributable reserves | 133 | €20,260 | €20,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€21,379 | -€30,476 | -€9,097 | -42.5% |
| Provisions and deferred taxes | 16 | €139,396 | €182,615 | +€43,219 | +31.0% |
| Deferred taxes | 168 | €139,396 | €182,615 | +€43,219 | +31.0% |
| Amounts payable | 17/49 | €2,207,064 | €2,106,755 | -€100,309 | -4.5% |
| Amounts payable after more than one year | 17 | €59,537 | €39,424 | -€20,113 | -33.8% |
| Financial debts | 170/4 | €59,537 | €39,424 | -€20,113 | -33.8% |
| Amounts payable within one year | 42/48 | €2,147,527 | €2,067,331 | -€80,196 | -3.7% |
| Current portion of amounts payable after more than one year | 42 | €19,188 | €20,113 | +€924 | +4.8% |
| Trade debts | 44 | €7,440 | €6,542 | -€897 | -12.1% |
| Suppliers | 440/4 | €7,440 | €6,542 | -€897 | -12.1% |
| Taxes, remuneration and social security | 45 | €34,895 | €7,331 | -€27,565 | -79.0% |
| Taxes | 450/3 | €27,565 | €0 | -€27,565 | -100% |
| Remuneration and social security | 454/9 | €7,331 | €7,331 | = | 0.0% |
| Other amounts payable | 47/48 | €2,086,004 | €2,033,345 | -€52,659 | -2.5% |
| Non-recurring operating income | 76A | €786 | €0 | -€786 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,040 | €79,651 | -€389 | -0.5% |
| Other operating charges | 640/8 | €11,471 | €10,093 | -€1,378 | -12.0% |
| Gross operating margin | 9900 | €116,973 | €71,913 | -€45,060 | -38.5% |
| Operating profit (loss) | 9901 | €25,462 | -€17,831 | -€43,293 | |
| Financial income | 75/76B | €768 | €1,677 | +€909 | +118% |
| Recurring financial income | 75 | €768 | €1,677 | +€909 | +118% |
| Financial charges | 65/66B | €4,507 | €3,672 | -€834 | -18.5% |
| Recurring financial charges | 65 | €4,507 | €3,672 | -€834 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €21,723 | -€19,826 | -€41,549 | |
| Transfer from deferred taxes | 780 | €4,730 | €4,730 | = | 0.0% |
| Income taxes | 67/77 | €14,970 | €4,989 | -€9,981 | -66.7% |
| Profit (loss) for the period | 9904 | €11,484 | -€20,084 | -€31,568 | |
| Transfer from tax-exempt reserves | 789 | €10,992 | €10,988 | -€4 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,476 | -€9,097 | -€31,572 |
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 27 October 2026 via checked.be.