IEU GROUP: 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.
IEU GROUP
Largest movements
- Tangible fixed assets -€10,252
down €10,252 (-98.8%), from €10,381 to €129
of which Other tangible fixed assets: -€9,965
- Cash -€6,244
down €6,244 (-99.3%), from €6,286 to €42
mainly Net result for the year (-€37,423) and Trade debts (-€4,824)
- Receivables within one year +€3,298
new in 2025: €3,298
- Stocks and contracts +€326
up €326 (+32.6%), from €1,001 to €1,327
- Profit (loss) carried forward -€37,423
down €37,423 (-58.9%), from -€63,505 to -€100,928
- Other debts +€30,136
up €30,136 (+298.5%), from €10,096 to €40,232
- Trade debts -€4,824
down €4,824 (-27.0%), from €17,871 to €13,047
- Tax, wage and social debts -€760
down €760 (-42.9%), from €1,773 to €1,013
- Gross operating margin -€17,686
down €17,686, from €316 to -€17,371
- Other operating charges +€8,378
up €8,378 (+1205.9%), from €695 to €9,073
- Depreciation +€2,959
up €2,959 (+40.6%), from €7,293 to €10,252
- Financial charges +€664
up €664 (+1052.1%), from €63 to €728
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 | €17,668 | €4,797 | -€12,871 | -72.9% |
| Fixed assets | 21/28 | €10,381 | €129 | -€10,252 | -98.8% |
| Tangible fixed assets | 22/27 | €10,381 | €129 | -€10,252 | -98.8% |
| Plant, machinery and equipment | 23 | €320 | €129 | -€191 | -59.5% |
| Furniture and vehicles | 24 | €96 | - | -€96 | |
| Other tangible fixed assets | 26 | €9,965 | - | -€9,965 | |
| Current assets | 29/58 | €7,287 | €4,667 | -€2,619 | -35.9% |
| Stocks and contracts in progress | 3 | €1,001 | €1,327 | +€326 | +32.6% |
| Stocks | 30/36 | €1,001 | €1,327 | +€326 | +32.6% |
| Amounts receivable within one year | 40/41 | - | €3,298 | +€3,298 | |
| Trade receivables | 40 | - | €3,298 | +€3,298 | |
| Cash at bank and in hand | 54/58 | €6,286 | €42 | -€6,244 | -99.3% |
| Total equity and liabilities | 10/49 | €17,668 | €4,797 | -€12,871 | -72.9% |
| Equity | 10/15 | -€44,905 | -€82,328 | -€37,423 | -83.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€63,505 | -€100,928 | -€37,423 | -58.9% |
| Amounts payable | 17/49 | €62,573 | €87,125 | +€24,552 | +39.2% |
| Amounts payable after more than one year | 17 | €32,834 | €32,834 | = | 0.0% |
| Financial debts | 170/4 | €32,834 | €32,834 | = | 0.0% |
| Amounts payable within one year | 42/48 | €29,739 | €54,291 | +€24,552 | +82.6% |
| Trade debts | 44 | €17,871 | €13,047 | -€4,824 | -27.0% |
| Suppliers | 440/4 | €17,871 | €13,047 | -€4,824 | -27.0% |
| Taxes, remuneration and social security | 45 | €1,773 | €1,013 | -€760 | -42.9% |
| Taxes | 450/3 | €1,773 | €1,013 | -€760 | -42.9% |
| Other amounts payable | 47/48 | €10,096 | €40,232 | +€30,136 | +298.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,293 | €10,252 | +€2,959 | +40.6% |
| Other operating charges | 640/8 | €695 | €9,073 | +€8,378 | +1205.9% |
| Gross operating margin | 9900 | €316 | -€17,371 | -€17,686 | |
| Operating profit (loss) | 9901 | -€7,672 | -€36,695 | -€29,023 | -378.3% |
| Financial charges | 65/66B | €63 | €728 | +€664 | +1052.1% |
| Recurring financial charges | 65 | €63 | €728 | +€664 | +1052.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,735 | -€37,423 | -€29,688 | -383.8% |
| Profit (loss) for the period | 9904 | -€7,735 | -€37,423 | -€29,688 | -383.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,735 | -€37,423 | -€29,688 | -383.8% |
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.