IFO: 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.
IFO
Largest movements
- Cash +€17,949
up €17,949 (+261.8%), from €6,857 to €24,806
mainly Net result for the year (+€17,253) and Trade debts (+€8,539)
- Receivables within one year +€14,310
up €14,310 (+78.8%), from €18,157 to €32,467
of which Trade receivables: +€13,845
- Stocks and contracts -€6,130
down €6,130 (-54.6%), from €11,230 to €5,100
- Tangible fixed assets -€1,530
down €1,530 (-23.3%), from €6,571 to €5,041
of which Plant, machinery and equipment: -€1,094
- Profit (loss) carried forward +€11,253
up €11,253 (+33.3%), from -€33,800 to -€22,547
- Trade debts +€8,539
up €8,539 (+41.8%), from €20,431 to €28,969
- Tax, wage and social debts +€5,531
up €5,531 (+11.8%), from €46,722 to €52,253
- Other debts -€724
down €724 (-29.3%), from €2,474 to €1,750
- Gross operating margin +€13,468
up €13,468 (+157.4%), from €8,558 to €22,026
- Other operating charges +€890
up €890 (+51.6%), from €1,724 to €2,615
- Depreciation +€271
up €271 (+15.0%), from €1,804 to €2,076
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 | €43,025 | €67,624 | +€24,599 | +57.2% |
| Fixed assets | 21/28 | €6,781 | €5,251 | -€1,530 | -22.6% |
| Tangible fixed assets | 22/27 | €6,571 | €5,041 | -€1,530 | -23.3% |
| Plant, machinery and equipment | 23 | €3,371 | €2,277 | -€1,094 | -32.4% |
| Furniture and vehicles | 24 | - | €364 | +€364 | |
| Other tangible fixed assets | 26 | €3,200 | €2,400 | -€800 | -25.0% |
| Financial fixed assets | 28 | €210 | €210 | = | 0.0% |
| Current assets | 29/58 | €36,243 | €62,373 | +€26,129 | +72.1% |
| Stocks and contracts in progress | 3 | €11,230 | €5,100 | -€6,130 | -54.6% |
| Stocks | 30/36 | €11,230 | €5,100 | -€6,130 | -54.6% |
| Amounts receivable within one year | 40/41 | €18,157 | €32,467 | +€14,310 | +78.8% |
| Trade receivables | 40 | €10,534 | €24,379 | +€13,845 | +131.4% |
| Other amounts receivable | 41 | €7,623 | €8,088 | +€465 | +6.1% |
| Cash at bank and in hand | 54/58 | €6,857 | €24,806 | +€17,949 | +261.8% |
| Total equity and liabilities | 10/49 | €43,025 | €67,624 | +€24,599 | +57.2% |
| Equity | 10/15 | -€26,602 | -€15,349 | +€11,253 | +42.3% |
| Contributions | 10/11 | €7,197 | €7,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€33,800 | -€22,547 | +€11,253 | +33.3% |
| Amounts payable | 17/49 | €69,627 | €82,973 | +€13,346 | +19.2% |
| Amounts payable within one year | 42/48 | €69,627 | €82,973 | +€13,346 | +19.2% |
| Trade debts | 44 | €20,431 | €28,969 | +€8,539 | +41.8% |
| Suppliers | 440/4 | €20,431 | €28,969 | +€8,539 | +41.8% |
| Taxes, remuneration and social security | 45 | €46,722 | €52,253 | +€5,531 | +11.8% |
| Remuneration and social security | 454/9 | €46,722 | €52,253 | +€5,531 | +11.8% |
| Other amounts payable | 47/48 | €2,474 | €1,750 | -€724 | -29.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,804 | €2,076 | +€271 | +15.0% |
| Other operating charges | 640/8 | €1,724 | €2,615 | +€890 | +51.6% |
| Gross operating margin | 9900 | €8,558 | €22,026 | +€13,468 | +157.4% |
| Operating profit (loss) | 9901 | €5,030 | €17,336 | +€12,306 | +244.7% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €94 | €83 | -€11 | -11.6% |
| Recurring financial charges | 65 | €94 | €83 | -€11 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €4,938 | €17,253 | +€12,315 | +249.4% |
| Profit (loss) for the period | 9904 | €4,938 | €17,253 | +€12,315 | +249.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,938 | €17,253 | +€12,315 | +249.4% |
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 30 September 2026 via checked.be.