IFCI: 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.
IFCI
Largest movements
- Cash -€1,992
down €1,992 (-24.0%), from €8,282 to €6,290
mainly Trade debts (-€3,747) and Net result for the year (-€106)
- Receivables within one year -€1,637
down €1,637 (-23.9%), from €6,862 to €5,225
of which Trade receivables: -€3,425
- Tangible fixed assets -€224
down €224 (-35.2%), from €637 to €413
- Trade debts -€3,747
no longer reported in 2025 (was €3,747)
- Gross operating margin -€1,615
down €1,615 (-88.9%), from €1,816 to €201
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 | €15,781 | €11,928 | -€3,853 | -24.4% |
| Fixed assets | 21/28 | €637 | €413 | -€224 | -35.2% |
| Tangible fixed assets | 22/27 | €637 | €413 | -€224 | -35.2% |
| Furniture and vehicles | 24 | €637 | €413 | -€224 | -35.2% |
| Current assets | 29/58 | €15,144 | €11,515 | -€3,629 | -24.0% |
| Amounts receivable within one year | 40/41 | €6,862 | €5,225 | -€1,637 | -23.9% |
| Trade receivables | 40 | €3,425 | - | -€3,425 | |
| Other amounts receivable | 41 | €3,438 | €5,225 | +€1,787 | +52.0% |
| Cash at bank and in hand | 54/58 | €8,282 | €6,290 | -€1,992 | -24.0% |
| Total equity and liabilities | 10/49 | €15,781 | €11,928 | -€3,853 | -24.4% |
| Equity | 10/15 | €11,745 | €11,639 | -€106 | -0.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €34 | €34 | = | 0.0% |
| Non-distributable reserves | 130/1 | €34 | €34 | = | 0.0% |
| Reserves not available under the articles | 1311 | €34 | €34 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,889 | -€6,995 | -€106 | -1.5% |
| Amounts payable | 17/49 | €4,036 | €289 | -€3,747 | -92.8% |
| Amounts payable within one year | 42/48 | €4,036 | €289 | -€3,747 | -92.8% |
| Trade debts | 44 | €3,747 | - | -€3,747 | |
| Suppliers | 440/4 | €3,747 | - | -€3,747 | |
| Other amounts payable | 47/48 | €289 | €289 | = | 0.0% |
| Non-recurring operating income | 76A | €2,250 | - | -€2,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224 | €224 | = | 0.0% |
| Gross operating margin | 9900 | €1,816 | €201 | -€1,615 | -88.9% |
| Operating profit (loss) | 9901 | €1,592 | -€23 | -€1,615 | |
| Financial income | 75/76B | €29 | €39 | +€9 | +30.9% |
| Recurring financial income | 75 | €29 | €39 | +€9 | +30.9% |
| Financial charges | 65/66B | €122 | €121 | -€1 | -0.8% |
| Recurring financial charges | 65 | €122 | €121 | -€1 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €1,499 | -€106 | -€1,605 | |
| Profit (loss) for the period | 9904 | €1,499 | -€106 | -€1,605 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,499 | -€106 | -€1,605 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.