IE Projects: 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.
IE Projects
Largest movements
- Receivables within one year -€5,725
down €5,725 (-11.7%), from €48,745 to €43,020
of which Trade receivables: -€3,725
- Cash +€1,386
up €1,386 (+305.2%), from €454 to €1,841
mainly Other debts (+€28,532) and Net result for the year (+€6,850)
- Other debts +€28,532
up €28,532 (+533.9%), from €5,344 to €33,876
- Reserves -€23,150
down €23,150 (-93.8%), from €24,688 to €1,538
- Tax, wage and social debts -€6,623
down €6,623 (-41.6%), from €15,926 to €9,303
- Trade debts -€2,615
down €2,615 (-51.7%), from €5,062 to €2,447
- Accrued charges and deferred income -€950
no longer reported in 2025 (was €950)
- Gross operating margin -€2,228
down €2,228 (-15.3%), from €14,578 to €12,350
- Financial charges +€2,104
up €2,104 (+420.7%), from €500 to €2,604
- Taxes +€934
up €934 (+83.0%), from €1,126 to €2,060
- Other operating charges -€722
down €722 (-70.4%), from €1,025 to €303
- Depreciation -€537
down €537 (-50.2%), from €1,070 to €533
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,830 | €49,023 | -€4,807 | -8.9% |
| Fixed assets | 21/28 | €2,530 | €1,997 | -€533 | -21.1% |
| Tangible fixed assets | 22/27 | €2,530 | €1,997 | -€533 | -21.1% |
| Furniture and vehicles | 24 | €235 | - | -€235 | |
| Other tangible fixed assets | 26 | €2,296 | €1,997 | -€299 | -13.0% |
| Current assets | 29/58 | €51,300 | €47,026 | -€4,274 | -8.3% |
| Amounts receivable within one year | 40/41 | €48,745 | €43,020 | -€5,725 | -11.7% |
| Trade receivables | 40 | €46,745 | €43,020 | -€3,725 | -8.0% |
| Other amounts receivable | 41 | €2,000 | - | -€2,000 | |
| Cash at bank and in hand | 54/58 | €454 | €1,841 | +€1,386 | +305.2% |
| Deferred charges and accrued income | 490/1 | €2,101 | €2,166 | +€65 | +3.1% |
| Total equity and liabilities | 10/49 | €53,830 | €49,023 | -€4,807 | -8.9% |
| Equity | 10/15 | €26,548 | €3,398 | -€23,150 | -87.2% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €24,688 | €1,538 | -€23,150 | -93.8% |
| Distributable reserves | 133 | €24,688 | €1,538 | -€23,150 | -93.8% |
| Amounts payable | 17/49 | €27,282 | €45,625 | +€18,343 | +67.2% |
| Amounts payable within one year | 42/48 | €26,332 | €45,625 | +€19,294 | +73.3% |
| Trade debts | 44 | €5,062 | €2,447 | -€2,615 | -51.7% |
| Suppliers | 440/4 | €5,062 | €2,447 | -€2,615 | -51.7% |
| Taxes, remuneration and social security | 45 | €15,926 | €9,303 | -€6,623 | -41.6% |
| Taxes | 450/3 | €15,926 | €9,303 | -€6,623 | -41.6% |
| Other amounts payable | 47/48 | €5,344 | €33,876 | +€28,532 | +533.9% |
| Accrued charges and deferred income | 492/3 | €950 | - | -€950 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,070 | €533 | -€537 | -50.2% |
| Other operating charges | 640/8 | €1,025 | €303 | -€722 | -70.4% |
| Gross operating margin | 9900 | €14,578 | €12,350 | -€2,228 | -15.3% |
| Operating profit (loss) | 9901 | €12,483 | €11,514 | -€970 | -7.8% |
| Financial charges | 65/66B | €500 | €2,604 | +€2,104 | +420.7% |
| Recurring financial charges | 65 | €500 | €2,604 | +€2,104 | +420.7% |
| Profit (loss) for the period before taxes | 9903 | €11,983 | €8,910 | -€3,073 | -25.6% |
| Income taxes | 67/77 | €1,126 | €2,060 | +€934 | +83.0% |
| Profit (loss) for the period | 9904 | €10,857 | €6,850 | -€4,008 | -36.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,857 | €6,850 | -€4,008 | -36.9% |
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.