IFS Ultimo: 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.
IFS Ultimo
Largest movements
- Receivables within one year -€3.8m
down €3.8m (-49.0%), from €7.8m to €4.0m
of which Other amounts receivable: -€3.5m
- Cash +€3.5m
up €3.5m (+14573.4%), from €23,903 to €3.5m
mainly Receivables within one year (+€3.8m) and Net result for the year (+€1.1m)
- Short-term financial debts -€1.3m
down €1.3m (-100.0%), from €1.3m to €0
- Profit (loss) carried forward +€1.1m
up €1.1m (+23.2%), from €4.9m to €6.0m
- Other debts -€388,120
down €388,120 (-100.0%), from €388,120 to €0
- Accrued charges and deferred income +€310,890
up €310,890 (+3657.5%), from €8,500 to €319,390
- Trade debts -€105,504
down €105,504 (-14.9%), from €709,216 to €603,712
- Gross operating margin +€356,974
up €356,974 (+12.1%), from €3.0m to €3.3m
- Taxes +€103,627
up €103,627 (+35.9%), from €288,666 to €392,293
- Staff costs -€41,660
down €41,660 (-2.2%), from €1.9m to €1.9m
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 | €7,876,806 | €7,571,725 | -€305,081 | -3.9% |
| Fixed assets | 21/28 | €68,706 | €57,174 | -€11,531 | -16.8% |
| Tangible fixed assets | 22/27 | €19,366 | €16,214 | -€3,151 | -16.3% |
| Furniture and vehicles | 24 | €19,366 | €16,214 | -€3,151 | -16.3% |
| Financial fixed assets | 28 | €49,340 | €40,960 | -€8,380 | -17.0% |
| Current assets | 29/58 | €7,808,101 | €7,514,551 | -€293,550 | -3.8% |
| Amounts receivable within one year | 40/41 | €7,751,110 | €3,956,397 | -€3.8m | -49.0% |
| Trade receivables | 40 | €665,657 | €385,851 | -€279,807 | -42.0% |
| Other amounts receivable | 41 | €7,085,452 | €3,570,547 | -€3.5m | -49.6% |
| Cash at bank and in hand | 54/58 | €23,903 | €3,507,398 | +€3.5m | +14573.4% |
| Deferred charges and accrued income | 490/1 | €33,088 | €50,755 | +€17,667 | +53.4% |
| Total equity and liabilities | 10/49 | €7,876,806 | €7,571,725 | -€305,081 | -3.9% |
| Equity | 10/15 | €4,920,963 | €6,060,145 | +€1.1m | +23.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,900,558 | €6,039,740 | +€1.1m | +23.2% |
| Amounts payable | 17/49 | €2,955,843 | €1,511,580 | -€1.4m | -48.9% |
| Amounts payable within one year | 42/48 | €2,947,343 | €1,192,190 | -€1.8m | -59.6% |
| Financial debts | 43 | €1,293,367 | €0 | -€1.3m | -100.0% |
| Credit institutions | 430/8 | €1,293,367 | €0 | -€1.3m | -100.0% |
| Trade debts | 44 | €709,216 | €603,712 | -€105,504 | -14.9% |
| Suppliers | 440/4 | €709,216 | €603,712 | -€105,504 | -14.9% |
| Taxes, remuneration and social security | 45 | €556,640 | €588,478 | +€31,838 | +5.7% |
| Taxes | 450/3 | €129,671 | €116,975 | -€12,696 | -9.8% |
| Remuneration and social security | 454/9 | €426,969 | €471,503 | +€44,533 | +10.4% |
| Other amounts payable | 47/48 | €388,120 | €0 | -€388,120 | -100.0% |
| Accrued charges and deferred income | 492/3 | €8,500 | €319,390 | +€310,890 | +3657.5% |
| Remuneration, social security and pensions | 62 | €1,917,065 | €1,875,405 | -€41,660 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,393 | €6,999 | -€1,394 | -16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,983 | -€8,000 | +€2,983 | +27.2% |
| Other operating charges | 640/8 | €20,027 | €21,042 | +€1,015 | +5.1% |
| Non-recurring operating charges | 66A | €698 | €499 | -€199 | -28.5% |
| Gross operating margin | 9900 | €2,955,885 | €3,312,859 | +€356,974 | +12.1% |
| Operating profit (loss) | 9901 | €1,020,686 | €1,416,914 | +€396,229 | +38.8% |
| Financial income | 75/76B | €157,120 | €151,357 | -€5,763 | -3.7% |
| Recurring financial income | 75 | €157,120 | €151,357 | -€5,763 | -3.7% |
| Financial charges | 65/66B | €39,833 | €36,796 | -€3,036 | -7.6% |
| Recurring financial charges | 65 | €39,833 | €36,796 | -€3,036 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €1,137,973 | €1,531,475 | +€393,502 | +34.6% |
| Income taxes | 67/77 | €288,666 | €392,293 | +€103,627 | +35.9% |
| Profit (loss) for the period | 9904 | €849,307 | €1,139,182 | +€289,875 | +34.1% |
| Profit (loss) for the period to be appropriated | 9905 | €849,307 | €1,139,182 | +€289,875 | +34.1% |
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 10 October 2026 via checked.be.