IFECT: 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.
IFECT
Largest movements
- Cash +€27,621
up €27,621 (+77.5%), from €35,637 to €63,257
mainly Other debts (+€93,477) and Net result for the year (+€62,266)
- Financial fixed assets -€15,910
down €15,910 (-5.6%), from €285,959 to €270,050
- Tangible fixed assets -€15,438
down €15,438 (-32.1%), from €48,130 to €32,692
of which Furniture and vehicles: -€14,252
- Receivables within one year +€10,014
up €10,014 (+21.8%), from €45,857 to €55,871
of which Trade receivables: +€13,349
- Other debts +€93,477
up €93,477 (+1396.3%), from €6,695 to €100,171
- Reserves -€79,734
down €79,734 (-21.6%), from €369,665 to €289,931
- Debts after one year -€7,610
down €7,610 (-38.7%), from €19,675 to €12,065
- Gross operating margin -€17,268
down €17,268 (-14.5%), from €119,241 to €101,974
- Taxes -€3,973
down €3,973 (-14.8%), from €26,889 to €22,916
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 | €417,328 | €423,821 | +€6,494 | +1.6% |
| Fixed assets | 21/28 | €334,090 | €302,742 | -€31,348 | -9.4% |
| Tangible fixed assets | 22/27 | €48,130 | €32,692 | -€15,438 | -32.1% |
| Land and buildings | 22 | €2,861 | €1,675 | -€1,186 | -41.4% |
| Furniture and vehicles | 24 | €45,269 | €31,017 | -€14,252 | -31.5% |
| Financial fixed assets | 28 | €285,959 | €270,050 | -€15,910 | -5.6% |
| Current assets | 29/58 | €83,238 | €121,079 | +€37,841 | +45.5% |
| Amounts receivable within one year | 40/41 | €45,857 | €55,871 | +€10,014 | +21.8% |
| Trade receivables | 40 | €40,438 | €53,787 | +€13,349 | +33.0% |
| Other amounts receivable | 41 | €5,419 | €2,084 | -€3,335 | -61.5% |
| Cash at bank and in hand | 54/58 | €35,637 | €63,257 | +€27,621 | +77.5% |
| Deferred charges and accrued income | 490/1 | €1,744 | €1,951 | +€206 | +11.8% |
| Total equity and liabilities | 10/49 | €417,328 | €423,821 | +€6,494 | +1.6% |
| Equity | 10/15 | €371,165 | €291,431 | -€79,734 | -21.5% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €369,665 | €289,931 | -€79,734 | -21.6% |
| Distributable reserves | 133 | €369,665 | €289,931 | -€79,734 | -21.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,163 | €132,390 | +€86,228 | +186.8% |
| Amounts payable after more than one year | 17 | €19,675 | €12,065 | -€7,610 | -38.7% |
| Financial debts | 170/4 | €19,675 | €12,065 | -€7,610 | -38.7% |
| Amounts payable within one year | 42/48 | €26,488 | €120,121 | +€93,633 | +353.5% |
| Current portion of amounts payable after more than one year | 42 | €7,281 | €7,610 | +€329 | +4.5% |
| Trade debts | 44 | €3,372 | €2,098 | -€1,274 | -37.8% |
| Suppliers | 440/4 | €3,372 | €2,098 | -€1,274 | -37.8% |
| Taxes, remuneration and social security | 45 | €9,141 | €10,241 | +€1,100 | +12.0% |
| Taxes | 450/3 | €9,141 | €7,976 | -€1,165 | -12.7% |
| Remuneration and social security | 454/9 | - | €2,265 | +€2,265 | |
| Other amounts payable | 47/48 | €6,695 | €100,171 | +€93,477 | +1396.3% |
| Accrued charges and deferred income | 492/3 | - | €205 | +€205 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,891 | €15,438 | +€547 | +3.7% |
| Other operating charges | 640/8 | €1,149 | €1,159 | +€10 | +0.9% |
| Gross operating margin | 9900 | €119,241 | €101,974 | -€17,268 | -14.5% |
| Operating profit (loss) | 9901 | €103,202 | €85,376 | -€17,826 | -17.3% |
| Financial income | 75/76B | €1,960 | €1,050 | -€910 | -46.4% |
| Recurring financial income | 75 | €1,960 | €1,050 | -€910 | -46.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €1,556 | €1,245 | -€312 | -20.0% |
| Recurring financial charges | 65 | €1,556 | €1,245 | -€312 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €103,605 | €85,182 | -€18,424 | -17.8% |
| Income taxes | 67/77 | €26,889 | €22,916 | -€3,973 | -14.8% |
| Profit (loss) for the period | 9904 | €76,716 | €62,266 | -€14,450 | -18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €76,716 | €62,266 | -€14,450 | -18.8% |
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 5 October 2026 via checked.be.