IGC traffic: 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.
IGC traffic
Largest movements
- Receivables within one year -€22,966
down €22,966 (-58.6%), from €39,219 to €16,253
of which Trade receivables: -€22,909
- Cash -€21,619
down €21,619 (-22.8%), from €94,924 to €73,305
mainly Trade debts (-€31,639) and Debts after one year (-€24,007)
- Tangible fixed assets -€2,674
down €2,674 (-33.0%), from €8,106 to €5,432
of which Furniture and vehicles: -€2,000
- Trade debts -€31,639
down €31,639 (-53.3%), from €59,378 to €27,739
- Debts after one year -€24,007
down €24,007 (-33.6%), from €71,393 to €47,386
- Profit (loss) carried forward +€18,207
up €18,207 (+30.5%), from €59,729 to €77,935
- Accrued charges and deferred income -€9,008
down €9,008 (-90.2%), from €9,993 to €984
- Other debts -€4,417
down €4,417 (-18.0%), from €24,546 to €20,129
- Gross operating margin +€36,829
up €36,829, from -€11,867 to €24,962
- Other operating charges +€817
up €817 (+51.5%), from €1,585 to €2,402
- Depreciation -€431
down €431 (-13.9%), from €3,105 to €2,674
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 | €256,867 | €208,543 | -€48,324 | -18.8% |
| Fixed assets | 21/28 | €22,241 | €19,702 | -€2,539 | -11.4% |
| Tangible fixed assets | 22/27 | €8,106 | €5,432 | -€2,674 | -33.0% |
| Plant, machinery and equipment | 23 | €674 | €0 | -€674 | -100.0% |
| Furniture and vehicles | 24 | €7,432 | €5,432 | -€2,000 | -26.9% |
| Financial fixed assets | 28 | €14,135 | €14,270 | +€135 | +1.0% |
| Current assets | 29/58 | €234,627 | €188,841 | -€45,786 | -19.5% |
| Stocks and contracts in progress | 3 | €97,682 | €97,506 | -€176 | -0.2% |
| Stocks | 30/36 | €97,682 | €97,506 | -€176 | -0.2% |
| Amounts receivable within one year | 40/41 | €39,219 | €16,253 | -€22,966 | -58.6% |
| Trade receivables | 40 | €39,162 | €16,253 | -€22,909 | -58.5% |
| Other amounts receivable | 41 | €57 | €0 | -€57 | -99.4% |
| Cash at bank and in hand | 54/58 | €94,924 | €73,305 | -€21,619 | -22.8% |
| Deferred charges and accrued income | 490/1 | €2,801 | €1,777 | -€1,024 | -36.6% |
| Total equity and liabilities | 10/49 | €256,867 | €208,543 | -€48,324 | -18.8% |
| Equity | 10/15 | €89,289 | €107,495 | +€18,207 | +20.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €23,360 | €23,360 | = | 0.0% |
| Distributable reserves | 133 | €23,360 | €23,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,729 | €77,935 | +€18,207 | +30.5% |
| Amounts payable | 17/49 | €167,579 | €101,048 | -€66,531 | -39.7% |
| Amounts payable after more than one year | 17 | €71,393 | €47,386 | -€24,007 | -33.6% |
| Other amounts payable | 178/9 | €71,393 | €47,386 | -€24,007 | -33.6% |
| Amounts payable within one year | 42/48 | €86,193 | €52,677 | -€33,515 | -38.9% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €59,378 | €27,739 | -€31,639 | -53.3% |
| Suppliers | 440/4 | €59,378 | €27,739 | -€31,639 | -53.3% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €2,268 | €4,810 | +€2,541 | +112.0% |
| Taxes | 450/3 | €2,268 | €4,810 | +€2,541 | +112.0% |
| Other amounts payable | 47/48 | €24,546 | €20,129 | -€4,417 | -18.0% |
| Accrued charges and deferred income | 492/3 | €9,993 | €984 | -€9,008 | -90.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,105 | €2,674 | -€431 | -13.9% |
| Other operating charges | 640/8 | €1,585 | €2,402 | +€817 | +51.5% |
| Gross operating margin | 9900 | -€11,867 | €24,962 | +€36,829 | |
| Operating profit (loss) | 9901 | -€16,556 | €19,887 | +€36,443 | |
| Financial income | 75/76B | €97 | €64 | -€33 | -34.1% |
| Recurring financial income | 75 | €97 | €64 | -€33 | -34.1% |
| Financial charges | 65/66B | €1,713 | €1,744 | +€32 | +1.8% |
| Recurring financial charges | 65 | €1,713 | €1,744 | +€32 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | -€18,172 | €18,207 | +€36,379 | |
| Profit (loss) for the period | 9904 | -€18,172 | €18,207 | +€36,379 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,172 | €18,207 | +€36,379 |
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.