IFI & R: 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.
IFI & R
Largest movements
- Cash +€25,149
up €25,149 (+40.3%), from €62,372 to €87,521
mainly Other debts (+€74,837) and Net result for the year (+€31,739)
- Tangible fixed assets -€7,986
down €7,986 (-26.5%), from €30,148 to €22,163
- Receivables within one year +€7,196
up €7,196 (+11.6%), from €62,164 to €69,360
of which Trade receivables: +€7,196
- Reserves -€80,000
down €80,000 (-55.6%), from €144,000 to €64,000
- Other debts +€74,837
up €74,837 (+126%), from €59,444 to €134,281
- Profit (loss) carried forward +€31,739
up €31,739 (+1,307%), from €2,428 to €34,166
- Debts after one year -€7,650
down €7,650 (-32.2%), from €23,782 to €16,132
- Tax, wage and social debts +€6,537
up €6,537 (+84.7%), from €7,716 to €14,253
of which Taxes: +€6,337
- Turnover -€114,632
no longer reported in 2025 (was €114,632)
- Purchases and services -€89,107
no longer reported in 2025 (was €89,107)
- Gross operating margin +€20,979
up €20,979 (+53.3%), from €39,352 to €60,331
- Taxes +€5,836
up €5,836 (+69.9%), from €8,348 to €14,183
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 | €255,362 | €280,705 | +€25,343 | +9.9% |
| Fixed assets | 21/28 | €130,124 | €122,139 | -€7,986 | -6.1% |
| Tangible fixed assets | 22/27 | €30,148 | €22,163 | -€7,986 | -26.5% |
| Leasing and similar rights | 25 | €30,148 | €22,163 | -€7,986 | -26.5% |
| Financial fixed assets | 28 | €99,976 | €99,976 | = | 0.0% |
| Current assets | 29/58 | €125,238 | €158,567 | +€33,328 | +26.6% |
| Amounts receivable within one year | 40/41 | €62,164 | €69,360 | +€7,196 | +11.6% |
| Trade receivables | 40 | €12,164 | €19,360 | +€7,196 | +59.2% |
| Other amounts receivable | 41 | €50,000 | €50,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €62,372 | €87,521 | +€25,149 | +40.3% |
| Deferred charges and accrued income | 490/1 | €702 | €1,686 | +€983 | +140% |
| Total equity and liabilities | 10/49 | €255,362 | €280,705 | +€25,343 | +9.9% |
| Equity | 10/15 | €151,428 | €103,166 | -€48,261 | -31.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €144,000 | €64,000 | -€80,000 | -55.6% |
| Distributable reserves | 133 | €144,000 | €64,000 | -€80,000 | -55.6% |
| Profit (loss) carried forward | 14 | €2,428 | €34,166 | +€31,739 | +1,307% |
| Amounts payable | 17/49 | €103,935 | €177,539 | +€73,604 | +70.8% |
| Amounts payable after more than one year | 17 | €23,782 | €16,132 | -€7,650 | -32.2% |
| Financial debts | 170/4 | €23,782 | €16,132 | -€7,650 | -32.2% |
| Amounts payable within one year | 42/48 | €75,386 | €157,207 | +€81,821 | +109% |
| Current portion of amounts payable after more than one year | 42 | €7,353 | €7,650 | +€296 | +4.0% |
| Trade debts | 44 | €873 | €1,024 | +€151 | +17.3% |
| Suppliers | 440/4 | €873 | €1,024 | +€151 | +17.3% |
| Taxes, remuneration and social security | 45 | €7,716 | €14,253 | +€6,537 | +84.7% |
| Taxes | 450/3 | €7,716 | €14,053 | +€6,337 | +82.1% |
| Remuneration and social security | 454/9 | - | €200 | +€200 | |
| Other amounts payable | 47/48 | €59,444 | €134,281 | +€74,837 | +126% |
| Accrued charges and deferred income | 492/3 | €4,767 | €4,200 | -€567 | -11.9% |
| Turnover | 70 | €114,632 | - | -€114,632 | |
| Goods, raw materials, services and sundry goods | 60/61 | €89,107 | - | -€89,107 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,986 | €7,986 | = | 0.0% |
| Other operating charges | 640/8 | €804 | €1,100 | +€296 | +36.8% |
| Gross operating margin | 9900 | €39,352 | €60,331 | +€20,979 | +53.3% |
| Operating profit (loss) | 9901 | €30,562 | €51,246 | +€20,684 | +67.7% |
| Financial income | 75/76B | €14 | - | -€14 | |
| Recurring financial income | 75 | €14 | - | -€14 | |
| Financial charges | 65/66B | €6,169 | €5,324 | -€845 | -13.7% |
| Recurring financial charges | 65 | €6,169 | €5,324 | -€845 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | €24,407 | €45,922 | +€21,515 | +88.2% |
| Income taxes | 67/77 | €8,348 | €14,183 | +€5,836 | +69.9% |
| Profit (loss) for the period | 9904 | €16,060 | €31,739 | +€15,679 | +97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €16,060 | €31,739 | +€15,679 | +97.6% |
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 29 October 2026 via checked.be.