IEGSUN: 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.
IEGSUN
Largest movements
- Cash -€136,664
down €136,664 (-81.7%), from €167,199 to €30,535
mainly Trade debts (-€163,052) and Receivables within one year (-€51,147)
- Receivables within one year +€51,147
up €51,147 (+157%), from €32,557 to €83,704
of which Trade receivables: +€83,704
- Trade debts -€163,052
down €163,052 (-99.0%), from €164,686 to €1,634
- Profit (loss) carried forward +€50,627
up €50,627, from -€19,126 to €31,501
- Other debts -€22,247
down €22,247 (-56.2%), from €39,559 to €17,312
- Debts after one year +€20,708
up €20,708 (+2.4%), from €876,003 to €896,711
of which Financial debts: +€100,810
- Current portion of long-term debt +€17,640
up €17,640 (+41.0%), from €43,011 to €60,651
- Gross operating margin +€136,589
up €136,589, from -€8,312 to €128,277
- Financial charges +€34,613
up €34,613 (+320%), from €10,814 to €45,427
- Depreciation +€31,823
new in 2025: €31,823
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 | €1,189,603 | €1,109,803 | -€79,800 | -6.7% |
| Fixed assets | 21/28 | €989,846 | €995,564 | +€5,717 | +0.6% |
| Tangible fixed assets | 22/27 | €989,846 | €995,564 | +€5,717 | +0.6% |
| Plant, machinery and equipment | 23 | - | €995,564 | +€995,564 | |
| Assets under construction and advance payments | 27 | €989,846 | €0 | -€989,846 | -100% |
| Current assets | 29/58 | €199,756 | €114,239 | -€85,517 | -42.8% |
| Amounts receivable within one year | 40/41 | €32,557 | €83,704 | +€51,147 | +157% |
| Trade receivables | 40 | - | €83,704 | +€83,704 | |
| Other amounts receivable | 41 | €32,557 | €0 | -€32,557 | -100% |
| Cash at bank and in hand | 54/58 | €167,199 | €30,535 | -€136,664 | -81.7% |
| Total equity and liabilities | 10/49 | €1,189,603 | €1,109,803 | -€79,800 | -6.7% |
| Equity | 10/15 | €66,344 | €116,971 | +€50,627 | +76.3% |
| Contributions | 10/11 | €85,470 | €85,470 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,126 | €31,501 | +€50,627 | |
| Amounts payable | 17/49 | €1,123,259 | €992,832 | -€130,427 | -11.6% |
| Amounts payable after more than one year | 17 | €876,003 | €896,711 | +€20,708 | +2.4% |
| Financial debts | 170/4 | €795,901 | €896,711 | +€100,810 | +12.7% |
| Other amounts payable | 178/9 | €80,101 | €0 | -€80,101 | -100% |
| Amounts payable within one year | 42/48 | €247,256 | €95,919 | -€151,337 | -61.2% |
| Current portion of amounts payable after more than one year | 42 | €43,011 | €60,651 | +€17,640 | +41.0% |
| Trade debts | 44 | €164,686 | €1,634 | -€163,052 | -99.0% |
| Suppliers | 440/4 | €164,686 | €1,634 | -€163,052 | -99.0% |
| Taxes, remuneration and social security | 45 | - | €16,322 | +€16,322 | |
| Taxes | 450/3 | - | €16,322 | +€16,322 | |
| Other amounts payable | 47/48 | €39,559 | €17,312 | -€22,247 | -56.2% |
| Accrued charges and deferred income | 492/3 | - | €202 | +€202 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €31,823 | +€31,823 | |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | -€8,312 | €128,277 | +€136,589 | |
| Operating profit (loss) | 9901 | -€8,312 | €96,055 | +€104,367 | |
| Financial charges | 65/66B | €10,814 | €45,427 | +€34,613 | +320% |
| Recurring financial charges | 65 | €10,814 | €45,427 | +€34,613 | +320% |
| Profit (loss) for the period before taxes | 9903 | -€19,126 | €50,627 | +€69,754 | |
| Profit (loss) for the period | 9904 | -€19,126 | €50,627 | +€69,754 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,126 | €50,627 | +€69,754 |
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.