IDESBA: 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.
IDESBA
Largest movements
- Tangible fixed assets +€1.6m
up €1.6m (+68.2%), from €2.3m to €3.9m
of which Assets under construction and advance payments: +€1.6m
- Cash +€210,923
up €210,923 (+962%), from €21,929 to €232,852
mainly Short-term financial debts (+€998,250) and Debts after one year (+€694,246)
- Short-term financial debts +€998,250
up €998,250 (+293%), from €340,682 to €1.3m
- Debts after one year +€694,246
up €694,246 (+112%), from €617,531 to €1.3m
of which Financial debts: +€699,782
- Profit (loss) carried forward +€67,140
up €67,140 (+33.7%), from -€198,947 to -€131,807
- Financial charges -€41,310
down €41,310 (-34.3%), from €120,494 to €79,184
of which Non-recurring financial charges: -€78,092
- Gross operating margin +€10,058
up €10,058 (+5.4%), from €187,566 to €197,624
- Depreciation +€2,386
up €2,386 (+7.3%), from €32,612 to €34,998
- Financial income -€2,015
down €2,015 (-88.4%), from €2,280 to €265
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 | €2,327,227 | €4,106,508 | +€1.8m | +76.5% |
| Fixed assets | 21/28 | €2,302,412 | €3,871,892 | +€1.6m | +68.2% |
| Tangible fixed assets | 22/27 | €2,302,412 | €3,871,892 | +€1.6m | +68.2% |
| Land and buildings | 22 | €802,280 | €775,928 | -€26,351 | -3.3% |
| Assets under construction and advance payments | 27 | €1,500,133 | €3,095,964 | +€1.6m | +106% |
| Current assets | 29/58 | €24,815 | €234,615 | +€209,800 | +845% |
| Amounts receivable within one year | 40/41 | €684 | €79 | -€605 | -88.4% |
| Other amounts receivable | 41 | €684 | €79 | -€605 | -88.4% |
| Cash at bank and in hand | 54/58 | €21,929 | €232,852 | +€210,923 | +962% |
| Deferred charges and accrued income | 490/1 | €2,203 | €1,684 | -€519 | -23.6% |
| Total equity and liabilities | 10/49 | €2,327,227 | €4,106,508 | +€1.8m | +76.5% |
| Equity | 10/15 | €1,146,028 | €1,207,077 | +€61,048 | +5.3% |
| Contributions | 10/11 | €969,264 | €969,264 | = | 0.0% |
| Capital | 10 | €969,264 | €969,264 | = | 0.0% |
| Issued capital | 100 | €969,264 | €969,264 | = | 0.0% |
| Reserves | 13 | €375,712 | €369,621 | -€6,091 | -1.6% |
| Tax-exempt reserves | 132 | €375,712 | €369,621 | -€6,091 | -1.6% |
| Profit (loss) carried forward | 14 | -€198,947 | -€131,807 | +€67,140 | +33.7% |
| Provisions and deferred taxes | 16 | €125,237 | €123,207 | -€2,030 | -1.6% |
| Deferred taxes | 168 | €125,237 | €123,207 | -€2,030 | -1.6% |
| Amounts payable | 17/49 | €1,055,961 | €2,776,224 | +€1.7m | +163% |
| Amounts payable after more than one year | 17 | €617,531 | €1,311,778 | +€694,246 | +112% |
| Financial debts | 170/4 | - | €699,782 | +€699,782 | |
| Other amounts payable | 178/9 | €617,531 | €611,996 | -€5,536 | -0.9% |
| Amounts payable within one year | 42/48 | €405,747 | €1,416,947 | +€1.0m | +249% |
| Current portion of amounts payable after more than one year | 42 | - | €8,218 | +€8,218 | |
| Financial debts | 43 | €340,682 | €1,338,932 | +€998,250 | +293% |
| Credit institutions | 430/8 | €340,682 | €1,338,932 | +€998,250 | +293% |
| Trade debts | 44 | €1,281 | €2,851 | +€1,570 | +123% |
| Suppliers | 440/4 | €1,281 | €2,851 | +€1,570 | +123% |
| Other amounts payable | 47/48 | €63,784 | €66,946 | +€3,162 | +5.0% |
| Accrued charges and deferred income | 492/3 | €32,683 | €47,499 | +€14,816 | +45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,612 | €34,998 | +€2,386 | +7.3% |
| Other operating charges | 640/8 | €23,900 | €24,689 | +€789 | +3.3% |
| Gross operating margin | 9900 | €187,566 | €197,624 | +€10,058 | +5.4% |
| Operating profit (loss) | 9901 | €131,054 | €137,937 | +€6,883 | +5.3% |
| Financial income | 75/76B | €2,280 | €265 | -€2,015 | -88.4% |
| Recurring financial income | 75 | €2,280 | €265 | -€2,015 | -88.4% |
| Financial charges | 65/66B | €120,494 | €79,184 | -€41,310 | -34.3% |
| Recurring financial charges | 65 | €42,402 | €79,184 | +€36,782 | +86.7% |
| Non-recurring financial charges | 66B | €78,092 | - | -€78,092 | |
| Profit (loss) for the period before taxes | 9903 | €12,840 | €59,018 | +€46,178 | +360% |
| Transfer from deferred taxes | 780 | €61,098 | €2,030 | -€59,068 | -96.7% |
| Profit (loss) for the period | 9904 | €73,938 | €61,048 | -€12,889 | -17.4% |
| Transfer from tax-exempt reserves | 789 | €120,803 | €6,091 | -€114,711 | -95.0% |
| Profit (loss) for the period to be appropriated | 9905 | €194,741 | €67,140 | -€127,601 | -65.5% |
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 17 October 2026 via checked.be.