IFER: 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.
IFER
Largest movements
- Tangible fixed assets -€5,796
down €5,796 (-51.8%), from €11,196 to €5,400
- Receivables within one year +€1,038
up €1,038 (+18.7%), from €5,550 to €6,588
- Cash -€715
down €715 (-5.9%), from €12,090 to €11,375
mainly Net result for the year (-€3,521) and Advances received (-€2,257)
- Profit (loss) carried forward -€3,521
down €3,521, from €3,314 to -€207
- Advances received -€2,257
down €2,257 (-66.6%), from €3,387 to €1,130
- Other debts +€515
up €515 (+32.9%), from €1,565 to €2,081
- Depreciation -€412
down €412 (-6.6%), from €6,209 to €5,796
- Gross operating margin -€97
down €97 (-3.3%), from €2,932 to €2,836
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 | €28,837 | €23,549 | -€5,288 | -18.3% |
| Fixed assets | 21/28 | €11,196 | €5,400 | -€5,796 | -51.8% |
| Tangible fixed assets | 22/27 | €11,196 | €5,400 | -€5,796 | -51.8% |
| Furniture and vehicles | 24 | €11,196 | €5,400 | -€5,796 | -51.8% |
| Current assets | 29/58 | €17,640 | €18,149 | +€508 | +2.9% |
| Amounts receivable within one year | 40/41 | €5,550 | €6,588 | +€1,038 | +18.7% |
| Trade receivables | 40 | €5,550 | €6,588 | +€1,038 | +18.7% |
| Cash at bank and in hand | 54/58 | €12,090 | €11,375 | -€715 | -5.9% |
| Deferred charges and accrued income | 490/1 | - | €185 | +€185 | |
| Total equity and liabilities | 10/49 | €28,837 | €23,549 | -€5,288 | -18.3% |
| Equity | 10/15 | €23,774 | €20,253 | -€3,521 | -14.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | - | €18,600 | +€18,600 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,314 | -€207 | -€3,521 | |
| Amounts payable | 17/49 | €5,063 | €3,296 | -€1,767 | -34.9% |
| Amounts payable within one year | 42/48 | €5,063 | €3,296 | -€1,767 | -34.9% |
| Trade debts | 44 | - | €85 | +€85 | |
| Suppliers | 440/4 | - | €85 | +€85 | |
| Advances received on contracts in progress | 46 | €3,387 | €1,130 | -€2,257 | -66.6% |
| Taxes, remuneration and social security | 45 | €111 | - | -€111 | |
| Taxes | 450/3 | €111 | - | -€111 | |
| Other amounts payable | 47/48 | €1,565 | €2,081 | +€515 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,209 | €5,796 | -€412 | -6.6% |
| Other operating charges | 640/8 | €455 | €470 | +€15 | +3.2% |
| Gross operating margin | 9900 | €2,932 | €2,836 | -€97 | -3.3% |
| Operating profit (loss) | 9901 | -€3,732 | -€3,431 | +€301 | +8.1% |
| Financial charges | 65/66B | €89 | €90 | +€1 | +1.3% |
| Recurring financial charges | 65 | €89 | €90 | +€1 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,821 | -€3,521 | +€300 | +7.8% |
| Profit (loss) for the period | 9904 | -€3,821 | -€3,521 | +€300 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,821 | -€3,521 | +€300 | +7.8% |
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 8 October 2026 via checked.be.