iFin: 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.
iFin
Largest movements
- Financial fixed assets +€284,730
up €284,730 (+116.3%), from €244,750 to €529,480
- Receivables within one year -€185,239
down €185,239 (-63.6%), from €291,364 to €106,126
of which Trade receivables: -€140,319
- Cash +€30,386
up €30,386 (+8083.5%), from €376 to €30,762
mainly Debts after one year (+€211,235) and Receivables within one year (+€185,239)
- Debts after one year +€211,235
up €211,235 (+56.3%), from €375,307 to €586,542
of which Financial debts: +€233,235
- Trade debts -€33,907
down €33,907 (-36.8%), from €92,250 to €58,343
- Profit (loss) carried forward -€33,099
down €33,099 (-70.4%), from €46,985 to €13,886
- Other debts -€8,000
down €8,000 (-100.0%), from €8,000 to €0
- Write-downs +€152,611
new in 2025: €152,611
- Gross operating margin +€118,727
up €118,727 (+465.0%), from €25,534 to €144,262
- Financial charges +€16,469
up €16,469 (+77.1%), from €21,355 to €37,823
- Financial income +€14,954
up €14,954 (+3666.6%), from €408 to €15,362
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 | €543,305 | €677,973 | +€134,669 | +24.8% |
| Fixed assets | 21/28 | €250,429 | €537,681 | +€287,252 | +114.7% |
| Intangible fixed assets | 21 | €5,679 | €4,663 | -€1,015 | -17.9% |
| Tangible fixed assets | 22/27 | - | €3,538 | +€3,538 | |
| Plant, machinery and equipment | 23 | - | €1,396 | +€1,396 | |
| Furniture and vehicles | 24 | - | €2,142 | +€2,142 | |
| Financial fixed assets | 28 | €244,750 | €529,480 | +€284,730 | +116.3% |
| Current assets | 29/58 | €292,876 | €140,292 | -€152,583 | -52.1% |
| Amounts receivable within one year | 40/41 | €291,364 | €106,126 | -€185,239 | -63.6% |
| Trade receivables | 40 | €212,306 | €71,987 | -€140,319 | -66.1% |
| Other amounts receivable | 41 | €79,058 | €34,139 | -€44,919 | -56.8% |
| Cash at bank and in hand | 54/58 | €376 | €30,762 | +€30,386 | +8083.5% |
| Deferred charges and accrued income | 490/1 | €1,136 | €3,405 | +€2,269 | +199.8% |
| Total equity and liabilities | 10/49 | €543,305 | €677,973 | +€134,669 | +24.8% |
| Equity | 10/15 | €49,985 | €16,886 | -€33,099 | -66.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,985 | €13,886 | -€33,099 | -70.4% |
| Amounts payable | 17/49 | €493,319 | €661,087 | +€167,768 | +34.0% |
| Amounts payable after more than one year | 17 | €375,307 | €586,542 | +€211,235 | +56.3% |
| Financial debts | 170/4 | €353,307 | €586,542 | +€233,235 | +66.0% |
| Other amounts payable | 178/9 | €22,000 | €0 | -€22,000 | -100.0% |
| Amounts payable within one year | 42/48 | €117,829 | €74,545 | -€43,284 | -36.7% |
| Current portion of amounts payable after more than one year | 42 | €15,084 | €16,008 | +€924 | +6.1% |
| Trade debts | 44 | €92,250 | €58,343 | -€33,907 | -36.8% |
| Suppliers | 440/4 | €92,250 | €58,343 | -€33,907 | -36.8% |
| Taxes, remuneration and social security | 45 | €2,495 | €195 | -€2,301 | -92.2% |
| Taxes | 450/3 | €2,495 | €195 | -€2,301 | -92.2% |
| Other amounts payable | 47/48 | €8,000 | €0 | -€8,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €183 | €0 | -€183 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,013 | €1,693 | +€680 | +67.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €152,611 | +€152,611 | |
| Other operating charges | 640/8 | - | €400 | +€400 | |
| Gross operating margin | 9900 | €25,534 | €144,262 | +€118,727 | +465.0% |
| Operating profit (loss) | 9901 | €24,521 | -€10,443 | -€34,964 | |
| Financial income | 75/76B | €408 | €15,362 | +€14,954 | +3666.6% |
| Recurring financial income | 75 | €408 | €15,362 | +€14,954 | +3666.6% |
| Financial charges | 65/66B | €21,355 | €37,823 | +€16,469 | +77.1% |
| Recurring financial charges | 65 | €21,355 | €37,823 | +€16,469 | +77.1% |
| Profit (loss) for the period before taxes | 9903 | €3,574 | -€32,904 | -€36,478 | |
| Income taxes | 67/77 | €1,031 | €195 | -€837 | -81.1% |
| Profit (loss) for the period | 9904 | €2,543 | -€33,099 | -€35,642 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,543 | -€33,099 | -€35,642 |
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 2 October 2026 via checked.be.