IDELCO: 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
IDELCO
NACE 25.110, Manufacture of metal structures and parts of structures
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€38,800
2024 · €44,881-€6,080
Equity
€15.5m
2024 · €15.5m+€38,800
Cash
€2.1m
2024 · €474,946+€1.7m
Balance sheet total
€30.9m
2024 · €29.6m+€1.3m
Largest movements
Assets
- Cash +€1.7m
up €1.7m (+350.2%), from €474,946 to €2.1m
mainly Depreciation (+€4.0m) and Debts after one year (+€637,868)
- Receivables within one year +€1.1m
up €1.1m (+49.4%), from €2.1m to €3.2m
of which Trade receivables: +€1.2m
- Tangible fixed assets -€936,953
down €936,953 (-4.2%), from €22.4m to €21.5m
of which Other tangible fixed assets: -€655,182
- Stocks and contracts -€562,098
down €562,098 (-12.8%), from €4.4m to €3.8m
Equity and liabilities
- Debts after one year +€637,868
up €637,868 (+6.2%), from €10.3m to €10.9m
- Trade debts +€521,692
up €521,692 (+35.1%), from €1.5m to €2.0m
- Other debts -€500,000
down €500,000 (-100.0%), from €500,000 to €0
Income statement
- Turnover -€2.0m
down €2.0m (-14.1%), from €14.4m to €12.4m
- Goods and materials -€1.5m
down €1.5m (-17.3%), from €8.6m to €7.1m
of which Purchases: -€1.8m
- Other operating income +€715,419
up €715,419 (+273.0%), from €262,041 to €977,460
- Staff costs +€380,537
up €380,537 (+23.8%), from €1.6m to €2.0m
- Depreciation +€318,740
up €318,740 (+8.8%), from €3.6m to €4.0m
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
€44,881
Turnover
-€2.0m
Other operating income
+€715,419
Goods and materials
+€1.5m
Services and other goods
-€275,782
Staff costs
-€380,537
Depreciation
-€318,740
Write-downs
-€214,512
Other operating charges
-€126,007
Other operating items
+€1.1m
Financial income
-€10,141
Financial charges
-€8,589
Taxes
+€8,198
Result 2025
€38,800
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.
From operations
+€3.9m
Investment
-€3.0m
Financing
+€787,868
Cash 2024
€474,946
From operations (derived)
+€3.9m
Net result for the year
+€38,800
Depreciation
+€4.0m
Stocks and contracts
+€562,098
Receivables within one year
-€1.1m
Deferred charges and accrued income
-€58,167
Trade debts
+€521,692
Tax, wage and social debts
+€182,264
Advances received
+€252,384
Other debts
-€500,000
Accrued charges and deferred income
-€1,913
Investment (derived)
-€3.0m
Investment in fixed assets (net)
-€3.0m
Financing
+€787,868
Debts after one year
+€637,868
Current portion of long-term debt
+€150,000
Cash 2025
€2.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €29,588,866 | €30,869,961 | +€1.3m | +4.3% |
| Fixed assets | 21/28 | €22,413,531 | €21,482,407 | -€931,124 | -4.2% |
| Intangible fixed assets | 21 | €5,472 | €11,301 | +€5,830 | +106.5% |
| Tangible fixed assets | 22/27 | €22,407,159 | €21,470,206 | -€936,953 | -4.2% |
| Plant, machinery and equipment | 23 | €2,031,085 | €1,823,975 | -€207,110 | -10.2% |
| Furniture and vehicles | 24 | €376,717 | €302,055 | -€74,662 | -19.8% |
| Other tangible fixed assets | 26 | €19,999,358 | €19,344,177 | -€655,182 | -3.3% |
| Financial fixed assets | 28 | €900 | €900 | = | 0.0% |
| Other financial fixed assets | 284/8 | €900 | €900 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €900 | €900 | = | 0.0% |
| Current assets | 29/58 | €7,175,335 | €9,387,554 | +€2.2m | +30.8% |
| Stocks and contracts in progress | 3 | €4,400,383 | €3,838,285 | -€562,098 | -12.8% |
| Stocks | 30/36 | €4,400,383 | €3,838,285 | -€562,098 | -12.8% |
| Raw materials and consumables | 30/31 | €1,678,823 | €1,844,275 | +€165,452 | +9.9% |
| Work in progress | 32 | €778,001 | €410,494 | -€367,507 | -47.2% |
| Finished goods | 33 | €1,404,115 | €1,323,180 | -€80,935 | -5.8% |
| Goods purchased for resale | 34 | €539,443 | €260,336 | -€279,107 | -51.7% |
| Amounts receivable within one year | 40/41 | €2,130,256 | €3,183,113 | +€1.1m | +49.4% |
| Trade receivables | 40 | €2,026,197 | €3,177,188 | +€1.2m | +56.8% |
| Other amounts receivable | 41 | €104,059 | €5,925 | -€98,135 | -94.3% |
| Cash at bank and in hand | 54/58 | €474,946 | €2,138,239 | +€1.7m | +350.2% |
| Deferred charges and accrued income | 490/1 | €169,750 | €227,917 | +€58,167 | +34.3% |
| Total equity and liabilities | 10/49 | €29,588,866 | €30,869,961 | +€1.3m | +4.3% |
| Equity | 10/15 | €15,499,704 | €15,538,504 | +€38,800 | +0.3% |
| Contributions | 10/11 | €12,080,000 | €12,080,000 | = | 0.0% |
| Capital | 10 | €12,080,000 | €12,080,000 | = | 0.0% |
| Issued capital | 100 | €12,080,000 | €12,080,000 | = | 0.0% |
| Reserves | 13 | €3,419,704 | €3,458,504 | +€38,800 | +1.1% |
| Non-distributable reserves | 130/1 | €752,881 | €791,681 | +€38,800 | +5.2% |
| Legal reserve | 130 | €752,881 | €791,681 | +€38,800 | +5.2% |
| Distributable reserves | 133 | €2,666,823 | €2,666,823 | = | 0.0% |
| Amounts payable | 17/49 | €14,089,162 | €15,331,457 | +€1.2m | +8.8% |
| Amounts payable after more than one year | 17 | €10,258,803 | €10,896,672 | +€637,868 | +6.2% |
| Financial debts | 170/4 | €10,258,803 | €10,896,672 | +€637,868 | +6.2% |
| Credit institutions | 173 | €2,000,000 | €1,510,600 | -€489,400 | -24.5% |
| Other loans | 174 | €8,258,803 | €9,386,072 | +€1.1m | +13.6% |
| Amounts payable within one year | 42/48 | €3,504,115 | €4,110,454 | +€606,340 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €800,000 | €950,000 | +€150,000 | +18.8% |
| Trade debts | 44 | €1,487,574 | €2,009,266 | +€521,692 | +35.1% |
| Suppliers | 440/4 | €1,487,574 | €2,009,266 | +€521,692 | +35.1% |
| Advances received on contracts in progress | 46 | €552,732 | €805,116 | +€252,384 | +45.7% |
| Taxes, remuneration and social security | 45 | €163,808 | €346,072 | +€182,264 | +111.3% |
| Taxes | 450/3 | €32,000 | €181,017 | +€149,017 | +465.7% |
| Remuneration and social security | 454/9 | €131,808 | €165,055 | +€33,247 | +25.2% |
| Other amounts payable | 47/48 | €500,000 | €0 | -€500,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €326,244 | €324,331 | -€1,913 | -0.6% |
| Operating income | 70/76A | €17,543,614 | €17,366,238 | -€177,376 | -1.0% |
| Turnover | 70 | €14,441,177 | €12,410,839 | -€2.0m | -14.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€741,390 | -€352,442 | +€388,948 | +52.5% |
| Own construction capitalised | 72 | €3,581,786 | €4,330,381 | +€748,595 | +20.9% |
| Other operating income | 74 | €262,041 | €977,460 | +€715,419 | +273.0% |
| Operating charges | 60/66A | €17,165,287 | €16,983,459 | -€181,828 | -1.1% |
| Goods for resale, raw materials and consumables | 60 | €8,631,947 | €7,134,541 | -€1.5m | -17.3% |
| Purchases | 600/8 | €8,953,290 | €7,129,977 | -€1.8m | -20.4% |
| Change in stocks: decrease (increase) | 609 | -€321,342 | €4,564 | +€325,907 | |
| Services and other goods | 61 | €3,253,931 | €3,529,712 | +€275,782 | +8.5% |
| Remuneration, social security and pensions | 62 | €1,596,257 | €1,976,794 | +€380,537 | +23.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,636,594 | €3,955,334 | +€318,740 | +8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€9,421 | €205,091 | +€214,512 | |
| Other operating charges | 640/8 | €55,980 | €181,987 | +€126,007 | +225.1% |
| Operating profit (loss) | 9901 | €378,327 | €382,779 | +€4,452 | +1.2% |
| Financial income | 75/76B | €10,675 | €533 | -€10,141 | -95.0% |
| Recurring financial income | 75 | €10,675 | €533 | -€10,141 | -95.0% |
| Other financial income | 752/9 | €10,675 | €533 | -€10,141 | -95.0% |
| Financial charges | 65/66B | €305,819 | €314,408 | +€8,589 | +2.8% |
| Recurring financial charges | 65 | €305,819 | €314,408 | +€8,589 | +2.8% |
| Debt charges | 650 | €268,570 | €276,470 | +€7,900 | +2.9% |
| Other financial charges | 652/9 | €37,249 | €37,938 | +€689 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €83,182 | €68,904 | -€14,278 | -17.2% |
| Income taxes | 67/77 | €38,301 | €30,104 | -€8,198 | -21.4% |
| Taxes | 670/3 | €483,449 | €54,685 | -€428,763 | -88.7% |
| Tax adjustments and reversals of tax provisions | 77 | €445,148 | €24,582 | -€420,566 | -94.5% |
| Profit (loss) for the period | 9904 | €44,881 | €38,800 | -€6,080 | -13.5% |
| Profit (loss) for the period to be appropriated | 9905 | €44,881 | €38,800 | -€6,080 | -13.5% |
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 9 October 2026 via checked.be.