IFD: 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.
IFD
Largest movements
- Cash -€30,941
down €30,941 (-4.2%), from €731,658 to €700,717
mainly Tax, wage and social debts (-€145,471) and Other debts (-€22,631)
- Receivables within one year +€10,820
up €10,820 (+21.4%), from €50,497 to €61,317
of which Other amounts receivable: +€8,000
- Tangible fixed assets +€8,653
up €8,653 (+42.6%), from €20,310 to €28,963
of which Plant, machinery and equipment: +€9,813
- Reserves +€150,000
new in 2025: €150,000
of which Distributable reserves: +€133,800
- Tax, wage and social debts -€145,471
down €145,471 (-83.6%), from €174,018 to €28,547
of which Taxes: -€149,853
- Other debts -€22,631
down €22,631 (-42.7%), from €52,996 to €30,365
- Gross operating margin -€273,497
down €273,497 (-38.6%), from €708,701 to €435,204
- Taxes -€77,510
down €77,510 (-52.0%), from €149,000 to €71,491
- Staff costs +€68,876
up €68,876 (+51.2%), from €134,526 to €203,402
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 | €803,751 | €792,869 | -€10,882 | -1.4% |
| Fixed assets | 21/28 | €20,310 | €28,963 | +€8,653 | +42.6% |
| Tangible fixed assets | 22/27 | €20,310 | €28,963 | +€8,653 | +42.6% |
| Plant, machinery and equipment | 23 | - | €9,813 | +€9,813 | |
| Furniture and vehicles | 24 | €2,014 | €2,705 | +€691 | +34.3% |
| Other tangible fixed assets | 26 | €18,296 | €16,445 | -€1,851 | -10.1% |
| Current assets | 29/58 | €783,441 | €763,906 | -€19,535 | -2.5% |
| Amounts receivable within one year | 40/41 | €50,497 | €61,317 | +€10,820 | +21.4% |
| Trade receivables | 40 | €50,497 | €53,317 | +€2,820 | +5.6% |
| Other amounts receivable | 41 | - | €8,000 | +€8,000 | |
| Cash at bank and in hand | 54/58 | €731,658 | €700,717 | -€30,941 | -4.2% |
| Deferred charges and accrued income | 490/1 | €1,286 | €1,872 | +€586 | +45.5% |
| Total equity and liabilities | 10/49 | €803,751 | €792,869 | -€10,882 | -1.4% |
| Equity | 10/15 | €570,818 | €721,945 | +€151,127 | +26.5% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | - | €150,000 | +€150,000 | |
| Non-distributable reserves | 130/1 | - | €16,200 | +€16,200 | |
| Legal reserve | 130 | - | €16,200 | +€16,200 | |
| Distributable reserves | 133 | - | €133,800 | +€133,800 | |
| Profit (loss) carried forward | 14 | €408,818 | €409,945 | +€1,127 | +0.3% |
| Amounts payable | 17/49 | €232,933 | €70,924 | -€162,009 | -69.6% |
| Amounts payable within one year | 42/48 | €232,933 | €70,924 | -€162,009 | -69.6% |
| Trade debts | 44 | €5,919 | €12,012 | +€6,093 | +102.9% |
| Suppliers | 440/4 | €5,919 | €12,012 | +€6,093 | +102.9% |
| Taxes, remuneration and social security | 45 | €174,018 | €28,547 | -€145,471 | -83.6% |
| Taxes | 450/3 | €158,049 | €8,196 | -€149,853 | -94.8% |
| Remuneration and social security | 454/9 | €15,969 | €20,351 | +€4,381 | +27.4% |
| Other amounts payable | 47/48 | €52,996 | €30,365 | -€22,631 | -42.7% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €134,526 | €203,402 | +€68,876 | +51.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,837 | €3,363 | +€526 | +18.6% |
| Other operating charges | 640/8 | €913 | €1,153 | +€241 | +26.4% |
| Gross operating margin | 9900 | €708,701 | €435,204 | -€273,497 | -38.6% |
| Operating profit (loss) | 9901 | €570,425 | €227,286 | -€343,140 | -60.2% |
| Financial income | 75/76B | €0 | €85 | +€85 | +284233.3% |
| Recurring financial income | 75 | €0 | €85 | +€85 | +284233.3% |
| Financial charges | 65/66B | €1,112 | €4,754 | +€3,642 | +327.6% |
| Recurring financial charges | 65 | €1,112 | €4,754 | +€3,642 | +327.6% |
| Profit (loss) for the period before taxes | 9903 | €569,314 | €222,617 | -€346,696 | -60.9% |
| Income taxes | 67/77 | €149,000 | €71,491 | -€77,510 | -52.0% |
| Profit (loss) for the period | 9904 | €420,314 | €151,127 | -€269,187 | -64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €420,314 | €151,127 | -€269,187 | -64.0% |
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 3 October 2026 via checked.be.