IFRA: 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.
IFRA
Largest movements
- Tangible fixed assets -€11,306
down €11,306 (-5.9%), from €192,420 to €181,114
- Other debts +€18,200
up €18,200 (+8.2%), from €220,737 to €238,937
- Profit (loss) carried forward -€15,248
down €15,248 (-11.0%), from -€138,182 to -€153,430
- Current portion of long-term debt -€11,365
no longer reported in 2025 (was €11,365)
- Short-term financial debts -€2,272
down €2,272 (-46.2%), from €4,921 to €2,649
- Financial charges -€660
down €660 (-40.4%), from €1,635 to €975
- Gross operating margin -€78
down €78 (-6.6%), from -€1,186 to -€1,264
- Other operating charges +€51
up €51 (+3.1%), from €1,652 to €1,703
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 | €192,420 | €181,735 | -€10,685 | -5.6% |
| Fixed assets | 21/28 | €192,420 | €181,114 | -€11,306 | -5.9% |
| Tangible fixed assets | 22/27 | €192,420 | €181,114 | -€11,306 | -5.9% |
| Land and buildings | 22 | €192,420 | €181,114 | -€11,306 | -5.9% |
| Current assets | 29/58 | €0 | €622 | +€621 | +207103.3% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | - | €621 | +€621 | |
| Total equity and liabilities | 10/49 | €192,420 | €181,735 | -€10,685 | -5.6% |
| Equity | 10/15 | -€44,602 | -€59,850 | -€15,248 | -34.2% |
| Contributions | 10/11 | €93,580 | €93,580 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€138,182 | -€153,430 | -€15,248 | -11.0% |
| Amounts payable | 17/49 | €237,022 | €241,586 | +€4,563 | +1.9% |
| Amounts payable within one year | 42/48 | €237,022 | €241,586 | +€4,563 | +1.9% |
| Current portion of amounts payable after more than one year | 42 | €11,365 | - | -€11,365 | |
| Financial debts | 43 | €4,921 | €2,649 | -€2,272 | -46.2% |
| Credit institutions | 430/8 | €4,921 | €2,649 | -€2,272 | -46.2% |
| Other amounts payable | 47/48 | €220,737 | €238,937 | +€18,200 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,306 | €11,306 | = | 0.0% |
| Other operating charges | 640/8 | €1,652 | €1,703 | +€51 | +3.1% |
| Gross operating margin | 9900 | -€1,186 | -€1,264 | -€78 | -6.6% |
| Operating profit (loss) | 9901 | -€14,144 | -€14,273 | -€129 | -0.9% |
| Financial charges | 65/66B | €1,635 | €975 | -€660 | -40.4% |
| Recurring financial charges | 65 | €1,635 | €975 | -€660 | -40.4% |
| Profit (loss) for the period before taxes | 9903 | -€15,779 | -€15,248 | +€531 | +3.4% |
| Profit (loss) for the period | 9904 | -€15,779 | -€15,248 | +€531 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€15,779 | -€15,248 | +€531 | +3.4% |
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 28 September 2026 via checked.be.