IDEFA: 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.
IDEFA
Largest movements
- Intangible fixed assets -€252,971
down €252,971 (-22.2%), from €1.1m to €884,664
- Receivables within one year +€135,645
up €135,645 (+34.8%), from €389,295 to €524,940
of which Other amounts receivable: +€181,172
- Stocks and contracts +€86,042
up €86,042 (+41.2%), from €208,623 to €294,665
- Cash -€81,219
down €81,219 (-60.8%), from €133,517 to €52,298
mainly Net result for the year (-€251,216) and Receivables within one year (-€135,645)
- Deferred charges and accrued income -€27,100
down €27,100 (-26.6%), from €101,854 to €74,754
- Reserves -€201,183
down €201,183 (-14.6%), from €1.4m to €1.2m
of which Distributable reserves: -€201,183
- Advances received +€82,639
new in 2025: €82,639
- Trade debts +€66,947
up €66,947 (+17.8%), from €375,089 to €442,036
- Profit (loss) carried forward -€50,033
down €50,033 (-100%), from €50,033 to €0
- Short-term financial debts -€25,000
down €25,000 (-14.3%), from €175,000 to €150,000
- Gross operating margin -€207,550
down €207,550 (-65.3%), from €317,841 to €110,291
- Depreciation +€126,548
up €126,548 (+90.3%), from €140,181 to €266,728
- Other operating charges -€16,339
down €16,339 (-88.8%), from €18,391 to €2,052
- Write-downs +€15,613
up €15,613, from -€1,197 to €14,416
- Staff costs +€9,762
up €9,762 (+16.5%), from €58,992 to €68,754
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,084,602 | €1,966,293 | -€118,309 | -5.7% |
| Formation expenses | 20 | €33,861 | €26,332 | -€7,529 | -22.2% |
| Fixed assets | 21/28 | €1,150,912 | €921,200 | -€229,711 | -20.0% |
| Intangible fixed assets | 21 | €1,137,635 | €884,664 | -€252,971 | -22.2% |
| Tangible fixed assets | 22/27 | €9,076 | €32,336 | +€23,260 | +256% |
| Plant, machinery and equipment | 23 | €1,470 | €684 | -€786 | -53.5% |
| Furniture and vehicles | 24 | €7,607 | €4,495 | -€3,112 | -40.9% |
| Other tangible fixed assets | 26 | - | €27,157 | +€27,157 | |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €899,829 | €1,018,761 | +€118,932 | +13.2% |
| Amounts receivable after more than one year | 29 | €66,540 | €72,103 | +€5,564 | +8.4% |
| Other amounts receivable | 291 | €66,540 | €72,103 | +€5,564 | +8.4% |
| Stocks and contracts in progress | 3 | €208,623 | €294,665 | +€86,042 | +41.2% |
| Stocks | 30/36 | €208,623 | €294,665 | +€86,042 | +41.2% |
| Amounts receivable within one year | 40/41 | €389,295 | €524,940 | +€135,645 | +34.8% |
| Trade receivables | 40 | €387,454 | €341,927 | -€45,527 | -11.8% |
| Other amounts receivable | 41 | €1,841 | €183,014 | +€181,172 | +9,841% |
| Cash at bank and in hand | 54/58 | €133,517 | €52,298 | -€81,219 | -60.8% |
| Deferred charges and accrued income | 490/1 | €101,854 | €74,754 | -€27,100 | -26.6% |
| Total equity and liabilities | 10/49 | €2,084,602 | €1,966,293 | -€118,309 | -5.7% |
| Equity | 10/15 | €1,474,435 | €1,223,219 | -€251,216 | -17.0% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €1,374,402 | €1,173,219 | -€201,183 | -14.6% |
| Non-distributable reserves | 130/1 | €5,000 | €5,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,000 | €5,000 | = | 0.0% |
| Distributable reserves | 133 | €1,369,402 | €1,168,219 | -€201,183 | -14.7% |
| Profit (loss) carried forward | 14 | €50,033 | €0 | -€50,033 | -100% |
| Amounts payable | 17/49 | €610,167 | €743,074 | +€132,907 | +21.8% |
| Amounts payable within one year | 42/48 | €610,167 | €743,074 | +€132,907 | +21.8% |
| Financial debts | 43 | €175,000 | €150,000 | -€25,000 | -14.3% |
| Credit institutions | 430/8 | €175,000 | €150,000 | -€25,000 | -14.3% |
| Trade debts | 44 | €375,089 | €442,036 | +€66,947 | +17.8% |
| Suppliers | 440/4 | €375,089 | €442,036 | +€66,947 | +17.8% |
| Advances received on contracts in progress | 46 | - | €82,639 | +€82,639 | |
| Taxes, remuneration and social security | 45 | €58,114 | €68,399 | +€10,285 | +17.7% |
| Taxes | 450/3 | €53,980 | €61,236 | +€7,256 | +13.4% |
| Remuneration and social security | 454/9 | €4,134 | €7,163 | +€3,029 | +73.3% |
| Other amounts payable | 47/48 | €1,963 | €0 | -€1,963 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €58,992 | €68,754 | +€9,762 | +16.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €140,181 | €266,728 | +€126,548 | +90.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,197 | €14,416 | +€15,613 | |
| Other operating charges | 640/8 | €18,391 | €2,052 | -€16,339 | -88.8% |
| Gross operating margin | 9900 | €317,841 | €110,291 | -€207,550 | -65.3% |
| Operating profit (loss) | 9901 | €101,474 | -€241,660 | -€343,133 | |
| Financial income | 75/76B | €71 | €4,507 | +€4,436 | +6,212% |
| Recurring financial income | 75 | €71 | €4,507 | +€4,436 | +6,212% |
| Financial charges | 65/66B | €7,293 | €11,047 | +€3,754 | +51.5% |
| Recurring financial charges | 65 | €7,293 | €11,047 | +€3,754 | +51.5% |
| Profit (loss) for the period before taxes | 9903 | €94,252 | -€248,199 | -€342,451 | |
| Income taxes | 67/77 | €2 | €3,017 | +€3,015 | +133,389% |
| Profit (loss) for the period | 9904 | €94,250 | -€251,216 | -€345,466 | |
| Profit (loss) for the period to be appropriated | 9905 | €94,250 | -€251,216 | -€345,466 |
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 17 October 2026 via checked.be.