IFREQ: 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.
IFREQ
Largest movements
- Cash +€960,231
up €960,231 (+7045.6%), from €13,629 to €973,860
mainly Contributions, distributions and other (+€990,000) and Other debts (+€323,502)
- Intangible fixed assets +€263,641
new in 2025: €263,641
- Tangible fixed assets +€13,032
up €13,032 (+2650.6%), from €492 to €13,524
of which Furniture and vehicles: +€10,909
- Contributions +€990,000
up €990,000 (+99000.0%), from €1,000 to €991,000
- Other debts +€323,502
up €323,502 (+770.9%), from €41,966 to €365,468
- Profit (loss) carried forward -€212,100
down €212,100 (-665.6%), from -€31,867 to -€243,967
- Trade debts +€68,018
up €68,018 (+3250.5%), from €2,093 to €70,111
- Tax, wage and social debts +€63,993
new in 2025: €63,993
- Staff costs +€105,488
new in 2025: €105,488
- Gross operating margin -€65,535
down €65,535 (-792.9%), from -€8,265 to -€73,800
- Depreciation +€29,066
up €29,066 (+4714.9%), from €616 to €29,682
- Other operating charges +€1,854
up €1,854 (+478.5%), from €387 to €2,241
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 | €19,322 | €1,251,686 | +€1.2m | +6378.0% |
| Fixed assets | 21/28 | €492 | €277,165 | +€276,673 | +56272.2% |
| Intangible fixed assets | 21 | - | €263,641 | +€263,641 | |
| Tangible fixed assets | 22/27 | €492 | €13,524 | +€13,032 | +2650.6% |
| Plant, machinery and equipment | 23 | - | €2,123 | +€2,123 | |
| Furniture and vehicles | 24 | €492 | €11,400 | +€10,909 | +2218.7% |
| Current assets | 29/58 | €18,830 | €974,521 | +€955,690 | +5075.2% |
| Amounts receivable within one year | 40/41 | €5,202 | - | -€5,202 | |
| Other amounts receivable | 41 | €5,202 | - | -€5,202 | |
| Cash at bank and in hand | 54/58 | €13,629 | €973,860 | +€960,231 | +7045.6% |
| Deferred charges and accrued income | 490/1 | - | €661 | +€661 | |
| Total equity and liabilities | 10/49 | €19,322 | €1,251,686 | +€1.2m | +6378.0% |
| Equity | 10/15 | -€30,867 | €747,033 | +€777,900 | |
| Contributions | 10/11 | €1,000 | €991,000 | +€990,000 | +99000.0% |
| Outside capital | 11 | €1,000 | €991,000 | +€990,000 | +99000.0% |
| Other | 1109/19 | €1,000 | €991,000 | +€990,000 | +99000.0% |
| Profit (loss) carried forward | 14 | -€31,867 | -€243,967 | -€212,100 | -665.6% |
| Amounts payable | 17/49 | €50,189 | €504,653 | +€454,464 | +905.5% |
| Amounts payable within one year | 42/48 | €50,189 | €503,903 | +€453,714 | +904.0% |
| Current portion of amounts payable after more than one year | 42 | €6,131 | - | -€6,131 | |
| Trade debts | 44 | €2,093 | €70,111 | +€68,018 | +3250.5% |
| Suppliers | 440/4 | €2,093 | €70,111 | +€68,018 | +3250.5% |
| Advances received on contracts in progress | 46 | - | €4,332 | +€4,332 | |
| Taxes, remuneration and social security | 45 | - | €63,993 | +€63,993 | |
| Taxes | 450/3 | - | €63,993 | +€63,993 | |
| Other amounts payable | 47/48 | €41,966 | €365,468 | +€323,502 | +770.9% |
| Accrued charges and deferred income | 492/3 | - | €750 | +€750 | |
| Remuneration, social security and pensions | 62 | - | €105,488 | +€105,488 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €616 | €29,682 | +€29,066 | +4714.9% |
| Other operating charges | 640/8 | €387 | €2,241 | +€1,854 | +478.5% |
| Gross operating margin | 9900 | -€8,265 | -€73,800 | -€65,535 | -792.9% |
| Operating profit (loss) | 9901 | -€9,269 | -€211,211 | -€201,942 | -2178.7% |
| Financial income | 75/76B | €23 | €0 | -€23 | -98.6% |
| Recurring financial income | 75 | €23 | €0 | -€23 | -98.6% |
| Financial charges | 65/66B | €1,392 | €889 | -€502 | -36.1% |
| Recurring financial charges | 65 | €1,392 | €889 | -€502 | -36.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,637 | -€212,100 | -€201,463 | -1893.9% |
| Profit (loss) for the period | 9904 | -€10,637 | -€212,100 | -€201,463 | -1893.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,637 | -€212,100 | -€201,463 | -1893.9% |
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 7 October 2026 via checked.be.