IEKO: what changed
Two fiscal 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.
IEKO
Largest movements
- Stocks and contracts -€892,714
down €892,714 (-100.0%), from €892,714 to €0
- Cash +€132,821
up €132,821 (+508.6%), from €26,114 to €158,935
mainly Stocks and contracts (+€892,714) and Net result for the year (+€488,239)
- Receivables within one year +€46,348
up €46,348 (+15.8%), from €293,171 to €339,519
of which Trade receivables: +€47,080
- Tangible fixed assets -€38,183
down €38,183 (-10.7%), from €357,071 to €318,888
of which Furniture and vehicles: -€34,235
- Reserves -€587,667
down €587,667 (-100.0%), from €587,667 to €0
- Trade debts -€234,855
down €234,855 (-96.4%), from €243,583 to €8,728
- Other debts +€77,816
up €77,816 (+10.7%), from €724,262 to €802,078
- Tax, wage and social debts +€33,513
up €33,513 (+56.5%), from €59,267 to €92,779
- Debts after one year -€30,171
down €30,171 (-40.8%), from €74,016 to €43,845
- Gross operating margin -€26,834
down €26,834 (-3.7%), from €717,142 to €690,308
- Taxes -€7,363
down €7,363 (-4.5%), from €165,058 to €157,695
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 | €1,736,595 | €996,202 | -€740,393 | -42.6% |
| Fixed assets | 21/28 | €523,071 | €495,888 | -€27,183 | -5.2% |
| Tangible fixed assets | 22/27 | €357,071 | €318,888 | -€38,183 | -10.7% |
| Land and buildings | 22 | €214,630 | €210,682 | -€3,948 | -1.8% |
| Furniture and vehicles | 24 | €142,441 | €108,207 | -€34,235 | -24.0% |
| Financial fixed assets | 28 | €166,000 | €177,000 | +€11,000 | +6.6% |
| Current assets | 29/58 | €1,213,523 | €500,313 | -€713,210 | -58.8% |
| Stocks and contracts in progress | 3 | €892,714 | €0 | -€892,714 | -100.0% |
| Stocks | 30/36 | €892,714 | €0 | -€892,714 | -100.0% |
| Amounts receivable within one year | 40/41 | €293,171 | €339,519 | +€46,348 | +15.8% |
| Trade receivables | 40 | €292,438 | €339,519 | +€47,080 | +16.1% |
| Other amounts receivable | 41 | €733 | €0 | -€733 | -100.0% |
| Cash at bank and in hand | 54/58 | €26,114 | €158,935 | +€132,821 | +508.6% |
| Deferred charges and accrued income | 490/1 | €1,524 | €1,860 | +€336 | +22.1% |
| Total equity and liabilities | 10/49 | €1,736,595 | €996,202 | -€740,393 | -42.6% |
| Equity | 10/15 | €606,267 | €18,600 | -€587,667 | -96.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €587,667 | €0 | -€587,667 | -100.0% |
| Distributable reserves | 133 | €587,667 | €0 | -€587,667 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,130,327 | €977,602 | -€152,726 | -13.5% |
| Amounts payable after more than one year | 17 | €74,016 | €43,845 | -€30,171 | -40.8% |
| Financial debts | 170/4 | €74,016 | €43,845 | -€30,171 | -40.8% |
| Amounts payable within one year | 42/48 | €1,056,311 | €933,756 | -€122,555 | -11.6% |
| Current portion of amounts payable after more than one year | 42 | €29,199 | €30,171 | +€972 | +3.3% |
| Trade debts | 44 | €243,583 | €8,728 | -€234,855 | -96.4% |
| Suppliers | 440/4 | €243,583 | €8,728 | -€234,855 | -96.4% |
| Taxes, remuneration and social security | 45 | €59,267 | €92,779 | +€33,513 | +56.5% |
| Taxes | 450/3 | €59,267 | €92,779 | +€33,513 | +56.5% |
| Other amounts payable | 47/48 | €724,262 | €802,078 | +€77,816 | +10.7% |
| Non-recurring operating income | 76A | €180 | €0 | -€180 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,611 | €38,183 | +€2,572 | +7.2% |
| Other operating charges | 640/8 | €1,312 | €1,707 | +€395 | +30.1% |
| Gross operating margin | 9900 | €717,142 | €690,308 | -€26,834 | -3.7% |
| Operating profit (loss) | 9901 | €680,219 | €650,419 | -€29,800 | -4.4% |
| Financial income | 75/76B | €389 | €206 | -€183 | -47.0% |
| Recurring financial income | 75 | €389 | €206 | -€183 | -47.0% |
| Financial charges | 65/66B | €5,007 | €4,691 | -€315 | -6.3% |
| Recurring financial charges | 65 | €5,007 | €4,691 | -€315 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €675,602 | €645,934 | -€29,668 | -4.4% |
| Income taxes | 67/77 | €165,058 | €157,695 | -€7,363 | -4.5% |
| Profit (loss) for the period | 9904 | €510,543 | €488,239 | -€22,304 | -4.4% |
| Profit (loss) for the period to be appropriated | 9905 | €510,543 | €488,239 | -€22,304 | -4.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.