IFTECH: 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.
IFTECH
Largest movements
- Stocks and contracts -€786,578
down €786,578 (-37.3%), from €2.1m to €1.3m
of which Contracts in progress: -€733,878
- Receivables within one year +€650,671
up €650,671 (+16.7%), from €3.9m to €4.6m
of which Trade receivables: +€659,540
- Cash +€422,413
up €422,413 (+98.4%), from €429,285 to €851,698
mainly Net result for the year (+€936,291) and Stocks and contracts (+€786,578)
- Profit (loss) carried forward +€894,626
up €894,626 (+146.1%), from €612,520 to €1.5m
- Trade debts -€481,451
down €481,451 (-14.9%), from €3.2m to €2.7m
- Tax, wage and social debts +€383,856
up €383,856 (+108.6%), from €353,329 to €737,185
of which Taxes: +€264,881
- Advances received -€341,960
down €341,960 (-30.2%), from €1.1m to €789,051
- Short-term financial debts -€300,000
no longer reported in 2025 (was €300,000)
- Gross operating margin +€1.2m
up €1.2m (+54.7%), from €2.2m to €3.4m
- Staff costs +€395,580
up €395,580 (+23.2%), from €1.7m to €2.1m
- Taxes +€208,406
up €208,406 (+149.6%), from €139,346 to €347,751
- Financial income +€103,256
up €103,256 (+312.1%), from €33,087 to €136,343
- Write-downs -€37,153
down €37,153, from €28,755 to -€8,398
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 | €7,077,149 | €7,433,672 | +€356,523 | +5.0% |
| Fixed assets | 21/28 | €411,689 | €471,630 | +€59,941 | +14.6% |
| Tangible fixed assets | 22/27 | €230,565 | €290,506 | +€59,941 | +26.0% |
| Land and buildings | 22 | €91,167 | - | -€91,167 | |
| Plant, machinery and equipment | 23 | €9,877 | €17,713 | +€7,836 | +79.3% |
| Furniture and vehicles | 24 | €77,302 | €236,025 | +€158,723 | +205.3% |
| Leasing and similar rights | 25 | €52,218 | €36,769 | -€15,450 | -29.6% |
| Financial fixed assets | 28 | €181,124 | €181,124 | = | 0.0% |
| Current assets | 29/58 | €6,665,460 | €6,962,042 | +€296,582 | +4.4% |
| Amounts receivable after more than one year | 29 | €200,000 | €200,000 | = | 0.0% |
| Trade receivables | 290 | €200,000 | €200,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,109,467 | €1,322,889 | -€786,578 | -37.3% |
| Stocks | 30/36 | €158,627 | €105,927 | -€52,700 | -33.2% |
| Contracts in progress | 37 | €1,950,839 | €1,216,962 | -€733,878 | -37.6% |
| Amounts receivable within one year | 40/41 | €3,900,290 | €4,550,961 | +€650,671 | +16.7% |
| Trade receivables | 40 | €3,581,569 | €4,241,109 | +€659,540 | +18.4% |
| Other amounts receivable | 41 | €318,722 | €309,852 | -€8,869 | -2.8% |
| Cash at bank and in hand | 54/58 | €429,285 | €851,698 | +€422,413 | +98.4% |
| Deferred charges and accrued income | 490/1 | €26,418 | €36,493 | +€10,075 | +38.1% |
| Total equity and liabilities | 10/49 | €7,077,149 | €7,433,672 | +€356,523 | +5.0% |
| Equity | 10/15 | €1,472,854 | €2,409,146 | +€936,291 | +63.6% |
| Contributions | 10/11 | €820,000 | €820,000 | = | 0.0% |
| Capital | 10 | €820,000 | €820,000 | = | 0.0% |
| Issued capital | 100 | €820,000 | €820,000 | = | 0.0% |
| Reserves | 13 | €40,335 | €82,000 | +€41,665 | +103.3% |
| Non-distributable reserves | 130/1 | €40,335 | €82,000 | +€41,665 | +103.3% |
| Legal reserve | 130 | €40,335 | €82,000 | +€41,665 | +103.3% |
| Profit (loss) carried forward | 14 | €612,520 | €1,507,146 | +€894,626 | +146.1% |
| Amounts payable | 17/49 | €5,604,295 | €5,024,526 | -€579,768 | -10.3% |
| Amounts payable after more than one year | 17 | €184,769 | €230,096 | +€45,327 | +24.5% |
| Financial debts | 170/4 | €184,769 | €230,096 | +€45,327 | +24.5% |
| Amounts payable within one year | 42/48 | €5,171,109 | €4,450,598 | -€720,511 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €91,188 | €139,636 | +€48,448 | +53.1% |
| Financial debts | 43 | €300,000 | - | -€300,000 | |
| Credit institutions | 430/8 | €300,000 | - | -€300,000 | |
| Trade debts | 44 | €3,229,667 | €2,748,216 | -€481,451 | -14.9% |
| Suppliers | 440/4 | €3,229,667 | €2,748,216 | -€481,451 | -14.9% |
| Advances received on contracts in progress | 46 | €1,131,011 | €789,051 | -€341,960 | -30.2% |
| Taxes, remuneration and social security | 45 | €353,329 | €737,185 | +€383,856 | +108.6% |
| Taxes | 450/3 | €170,483 | €435,365 | +€264,881 | +155.4% |
| Remuneration and social security | 454/9 | €182,846 | €301,820 | +€118,975 | +65.1% |
| Other amounts payable | 47/48 | €65,914 | €36,510 | -€29,404 | -44.6% |
| Accrued charges and deferred income | 492/3 | €248,416 | €343,832 | +€95,416 | +38.4% |
| Remuneration, social security and pensions | 62 | €1,705,947 | €2,101,527 | +€395,580 | +23.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,355 | €68,834 | -€3,521 | -4.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €28,755 | -€8,398 | -€37,153 | |
| Other operating charges | 640/8 | €2,571 | €21,765 | +€19,194 | +746.5% |
| Non-recurring operating charges | 66A | - | €81,316 | +€81,316 | |
| Gross operating margin | 9900 | €2,201,932 | €3,405,493 | +€1.2m | +54.7% |
| Operating profit (loss) | 9901 | €392,304 | €1,140,449 | +€748,145 | +190.7% |
| Financial income | 75/76B | €33,087 | €136,343 | +€103,256 | +312.1% |
| Recurring financial income | 75 | €33,087 | €136,343 | +€103,256 | +312.1% |
| Financial charges | 65/66B | -€3,518 | -€7,250 | -€3,732 | -106.1% |
| Recurring financial charges | 65 | -€3,518 | -€7,250 | -€3,732 | -106.1% |
| Profit (loss) for the period before taxes | 9903 | €428,909 | €1,284,042 | +€855,133 | +199.4% |
| Income taxes | 67/77 | €139,346 | €347,751 | +€208,406 | +149.6% |
| Profit (loss) for the period | 9904 | €289,564 | €936,291 | +€646,728 | +223.3% |
| Profit (loss) for the period to be appropriated | 9905 | €289,564 | €936,291 | +€646,728 | +223.3% |
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 12 October 2026 via checked.be.