IFECON: 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.
IFECON
Largest movements
- Cash -€21,074
down €21,074 (-76.7%), from €27,491 to €6,417
mainly Other debts (-€15,143) and Net result for the year (-€3,514)
- Receivables within one year +€996
up €996 (+19.8%), from €5,018 to €6,014
of which Other amounts receivable: +€1,237
- Other debts -€15,143
down €15,143 (-61.4%), from €24,679 to €9,536
- Profit (loss) carried forward -€3,514
down €3,514 (-25.9%), from -€13,571 to -€17,085
- Tax, wage and social debts -€2,469
down €2,469 (-99.1%), from €2,492 to €23
- Financial income -€15,482
down €15,482 (-92.6%), from €16,722 to €1,240
of which Non-recurring financial income: -€15,702
- Gross operating margin +€2,915
up €2,915 (+46.8%), from -€6,225 to -€3,310
- Staff costs -€842
no longer reported in 2025 (was €842)
- Taxes -€204
no longer reported in 2025 (was €204)
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 | €73,895 | €53,342 | -€20,553 | -27.8% |
| Fixed assets | 21/28 | €1,330 | €855 | -€475 | -35.7% |
| Tangible fixed assets | 22/27 | €1,330 | €855 | -€475 | -35.7% |
| Land and buildings | 22 | €1,330 | €855 | -€475 | -35.7% |
| Current assets | 29/58 | €72,565 | €52,487 | -€20,078 | -27.7% |
| Amounts receivable within one year | 40/41 | €5,018 | €6,014 | +€996 | +19.8% |
| Trade receivables | 40 | €2,183 | €1,942 | -€241 | -11.1% |
| Other amounts receivable | 41 | €2,835 | €4,072 | +€1,237 | +43.6% |
| Current investments | 50/53 | €40,056 | €40,056 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,491 | €6,417 | -€21,074 | -76.7% |
| Total equity and liabilities | 10/49 | €73,895 | €53,342 | -€20,553 | -27.8% |
| Equity | 10/15 | €46,725 | €43,211 | -€3,514 | -7.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €41,696 | €41,696 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,350 | €7,350 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,350 | €7,350 | = | 0.0% |
| Distributable reserves | 133 | €34,346 | €34,346 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,571 | -€17,085 | -€3,514 | -25.9% |
| Amounts payable | 17/49 | €27,170 | €10,131 | -€17,039 | -62.7% |
| Amounts payable within one year | 42/48 | €27,170 | €10,131 | -€17,039 | -62.7% |
| Trade debts | 44 | - | €572 | +€572 | |
| Suppliers | 440/4 | - | €572 | +€572 | |
| Taxes, remuneration and social security | 45 | €2,492 | €23 | -€2,469 | -99.1% |
| Taxes | 450/3 | €2,492 | €23 | -€2,469 | -99.1% |
| Other amounts payable | 47/48 | €24,679 | €9,536 | -€15,143 | -61.4% |
| Remuneration, social security and pensions | 62 | €842 | - | -€842 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €475 | €475 | = | 0.0% |
| Other operating charges | 640/8 | €853 | €911 | +€58 | +6.8% |
| Gross operating margin | 9900 | -€6,225 | -€3,310 | +€2,915 | +46.8% |
| Operating profit (loss) | 9901 | -€8,395 | -€4,695 | +€3,699 | +44.1% |
| Financial income | 75/76B | €16,722 | €1,240 | -€15,482 | -92.6% |
| Recurring financial income | 75 | €1,019 | €1,240 | +€221 | +21.7% |
| Non-recurring financial income | 76B | €15,702 | - | -€15,702 | |
| Financial charges | 65/66B | €110 | €58 | -€52 | -47.0% |
| Recurring financial charges | 65 | €110 | €58 | -€52 | -47.0% |
| Profit (loss) for the period before taxes | 9903 | €8,217 | -€3,514 | -€11,731 | |
| Income taxes | 67/77 | €204 | - | -€204 | |
| Profit (loss) for the period | 9904 | €8,013 | -€3,514 | -€11,527 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,013 | -€3,514 | -€11,527 |
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 13 October 2026 via checked.be.