IFW Globe: 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.
IFW Globe
Largest movements
- Receivables within one year +€10.7m
up €10.7m (+267283.0%), from €4,020 to €10.7m
of which Other amounts receivable: +€10.7m
- Other debts +€25.6m
up €25.6m (+2994.4%), from €856,388 to €26.5m
- Reserves -€12.1m
down €12.1m (-98.6%), from €12.2m to €172,912
of which Distributable reserves: -€12.1m
- Debts after one year -€1.8m
down €1.8m (-100.0%), from €1.8m to €0
- Current portion of long-term debt -€1.0m
down €1.0m (-100.0%), from €1.0m to €0
- Financial income +€23.3m
up €23.3m (+1994037580.3%), from €1 to €23.3m
- Services and other goods +€468,593
up €468,593 (+44.4%), from €1.1m to €1.5m
- Turnover +€212,525
up €212,525 (+7.0%), from €3.0m to €3.2m
- Financial charges -€88,523
down €88,523 (-41.4%), from €213,619 to €125,096
- Taxes +€37,750
up €37,750 (+8.5%), from €443,674 to €481,425
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €17,218,095 | €27,957,338 | +€10.7m | +62.4% |
| Fixed assets | 21/28 | €17,100,000 | €17,100,000 | = | 0.0% |
| Financial fixed assets | 28 | €17,100,000 | €17,100,000 | = | 0.0% |
| Affiliated companies | 280/1 | €17,100,000 | €17,100,000 | = | 0.0% |
| Participating interests | 280 | €17,100,000 | €17,100,000 | = | 0.0% |
| Current assets | 29/58 | €118,095 | €10,857,338 | +€10.7m | +9093.7% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €4,020 | €10,748,796 | +€10.7m | +267283.0% |
| Trade receivables | 40 | €4,020 | €5,184 | +€1,164 | +29.0% |
| Other amounts receivable | 41 | €0 | €10,743,612 | +€10.7m | |
| Cash at bank and in hand | 54/58 | €114,075 | €108,542 | -€5,534 | -4.9% |
| Total equity and liabilities | 10/49 | €17,218,095 | €27,957,338 | +€10.7m | +62.4% |
| Equity | 10/15 | €13,430,589 | €1,372,912 | -€12.1m | -89.8% |
| Contributions | 10/11 | €1,200,000 | €1,200,000 | = | 0.0% |
| Capital | 10 | €1,200,000 | €1,200,000 | = | 0.0% |
| Issued capital | 100 | €1,200,000 | €1,200,000 | = | 0.0% |
| Reserves | 13 | €12,230,589 | €172,912 | -€12.1m | -98.6% |
| Non-distributable reserves | 130/1 | €120,000 | €120,000 | = | 0.0% |
| Legal reserve | 130 | €120,000 | €120,000 | = | 0.0% |
| Distributable reserves | 133 | €12,110,589 | €52,912 | -€12.1m | -99.6% |
| Amounts payable | 17/49 | €3,787,506 | €26,584,426 | +€22.8m | +601.9% |
| Amounts payable after more than one year | 17 | €1,750,000 | €0 | -€1.8m | -100.0% |
| Financial debts | 170/4 | €1,750,000 | €0 | -€1.8m | -100.0% |
| Credit institutions | 173 | €1,750,000 | €0 | -€1.8m | -100.0% |
| Amounts payable within one year | 42/48 | €2,037,506 | €26,584,426 | +€24.5m | +1204.8% |
| Current portion of amounts payable after more than one year | 42 | €1,000,000 | €0 | -€1.0m | -100.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €67,393 | €84,426 | +€17,033 | +25.3% |
| Suppliers | 440/4 | €67,393 | €84,426 | +€17,033 | +25.3% |
| Taxes, remuneration and social security | 45 | €113,726 | €0 | -€113,726 | -100.0% |
| Taxes | 450/3 | €113,726 | €0 | -€113,726 | -100.0% |
| Other amounts payable | 47/48 | €856,388 | €26,500,000 | +€25.6m | +2994.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €3,032,780 | €3,245,305 | +€212,525 | +7.0% |
| Turnover | 70 | €3,032,780 | €3,245,305 | +€212,525 | +7.0% |
| Operating charges | 60/66A | €1,056,825 | €1,526,702 | +€469,877 | +44.5% |
| Services and other goods | 61 | €1,055,756 | €1,524,348 | +€468,593 | +44.4% |
| Other operating charges | 640/8 | €1,069 | €2,354 | +€1,285 | +120.2% |
| Operating profit (loss) | 9901 | €1,975,955 | €1,718,603 | -€257,352 | -13.0% |
| Financial income | 75/76B | €1 | €23,330,241 | +€23.3m | +1994037580.3% |
| Recurring financial income | 75 | €1 | €23,330,241 | +€23.3m | +1994037580.3% |
| Income from financial fixed assets | 750 | €0 | €23,011,000 | +€23.0m | |
| Income from current assets | 751 | €0 | €271,588 | +€271,588 | |
| Other financial income | 752/9 | €1 | €47,653 | +€47,652 | +4072787.2% |
| Financial charges | 65/66B | €213,619 | €125,096 | -€88,523 | -41.4% |
| Recurring financial charges | 65 | €213,619 | €125,096 | -€88,523 | -41.4% |
| Debt charges | 650 | €212,891 | €124,170 | -€88,721 | -41.7% |
| Other financial charges | 652/9 | €728 | €926 | +€199 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | €1,762,338 | €24,923,748 | +€23.2m | +1314.2% |
| Income taxes | 67/77 | €443,674 | €481,425 | +€37,750 | +8.5% |
| Taxes | 670/3 | €443,674 | €481,425 | +€37,750 | +8.5% |
| Profit (loss) for the period | 9904 | €1,318,663 | €24,442,323 | +€23.1m | +1753.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,318,663 | €24,442,323 | +€23.1m | +1753.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.