IGE GESTION: 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.
IGE GESTION
Largest movements
- Financial fixed assets +€855,000
up €855,000 (+308,776%), from €277 to €855,277
- Receivables within one year -€242,168
down €242,168 (-23.5%), from €1.0m to €789,057
of which Trade receivables: -€298,112
- Cash -€143,025
down €143,025 (-54.2%), from €263,718 to €120,693
mainly Investment in fixed assets (net) (-€874,525) and Contributions, distributions and other (-€450,000)
- Deferred charges and accrued income -€47,277
down €47,277 (-62.9%), from €75,152 to €27,875
- Tangible fixed assets -€36,155
down €36,155 (-2.3%), from €1.5m to €1.5m
of which Land and buildings: -€40,142
- Debts after one year +€712,500
up €712,500 (+271%), from €262,500 to €975,000
- Other debts -€250,526
down €250,526 (-18.0%), from €1.4m to €1.1m
- Trade debts -€212,561
down €212,561 (-37.3%), from €570,285 to €357,724
- Tax, wage and social debts +€164,877
up €164,877 (+254%), from €64,924 to €229,801
of which Taxes: +€169,167
- Accrued charges and deferred income -€47,601
down €47,601 (-42.4%), from €112,321 to €64,720
- Gross operating margin +€297,487
up €297,487 (+28.8%), from €1.0m to €1.3m
- Staff costs +€91,146
up €91,146 (+22.3%), from €408,605 to €499,751
- Taxes +€64,870
up €64,870 (+66.2%), from €98,036 to €162,906
- Other operating charges -€30,895
down €30,895 (-21.2%), from €145,595 to €114,700
- Financial charges -€17,356
down €17,356 (-27.9%), from €62,148 to €44,792
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.
Derived cash bridge
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 | €3,024,261 | €3,382,637 | +€358,376 | +11.9% |
| Fixed assets | 21/28 | €1,547,042 | €2,365,887 | +€818,845 | +52.9% |
| Tangible fixed assets | 22/27 | €1,546,765 | €1,510,610 | -€36,155 | -2.3% |
| Land and buildings | 22 | €1,425,105 | €1,384,963 | -€40,142 | -2.8% |
| Furniture and vehicles | 24 | €856 | €15,160 | +€14,304 | +1,671% |
| Leasing and similar rights | 25 | €22,679 | €12,362 | -€10,317 | -45.5% |
| Other tangible fixed assets | 26 | €98,125 | €98,125 | = | 0.0% |
| Financial fixed assets | 28 | €277 | €855,277 | +€855,000 | +308,776% |
| Current assets | 29/58 | €1,477,219 | €1,016,750 | -€460,469 | -31.2% |
| Amounts receivable after more than one year | 29 | €107,125 | €79,125 | -€28,000 | -26.1% |
| Other amounts receivable | 291 | €107,125 | €79,125 | -€28,000 | -26.1% |
| Amounts receivable within one year | 40/41 | €1,031,224 | €789,057 | -€242,168 | -23.5% |
| Trade receivables | 40 | €894,299 | €596,187 | -€298,112 | -33.3% |
| Other amounts receivable | 41 | €136,926 | €192,870 | +€55,944 | +40.9% |
| Cash at bank and in hand | 54/58 | €263,718 | €120,693 | -€143,025 | -54.2% |
| Deferred charges and accrued income | 490/1 | €75,152 | €27,875 | -€47,277 | -62.9% |
| Total equity and liabilities | 10/49 | €3,024,261 | €3,382,637 | +€358,376 | +11.9% |
| Equity | 10/15 | €423,803 | €434,656 | +€10,854 | +2.6% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €13,731 | €13,731 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,231 | €7,231 | = | 0.0% |
| Profit (loss) carried forward | 14 | €345,072 | €355,926 | +€10,854 | +3.1% |
| Amounts payable | 17/49 | €2,600,459 | €2,947,981 | +€347,522 | +13.4% |
| Amounts payable after more than one year | 17 | €262,500 | €975,000 | +€712,500 | +271% |
| Financial debts | 170/4 | €262,500 | €975,000 | +€712,500 | +271% |
| Amounts payable within one year | 42/48 | €2,225,638 | €1,908,261 | -€317,377 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €2,170 | €1,481 | -€689 | -31.8% |
| Financial debts | 43 | €200,236 | €181,759 | -€18,477 | -9.2% |
| Credit institutions | 430/8 | €200,236 | €181,759 | -€18,477 | -9.2% |
| Trade debts | 44 | €570,285 | €357,724 | -€212,561 | -37.3% |
| Suppliers | 440/4 | €570,285 | €357,724 | -€212,561 | -37.3% |
| Taxes, remuneration and social security | 45 | €64,924 | €229,801 | +€164,877 | +254% |
| Taxes | 450/3 | €6,561 | €175,728 | +€169,167 | +2,578% |
| Remuneration and social security | 454/9 | €58,363 | €54,073 | -€4,290 | -7.4% |
| Other amounts payable | 47/48 | €1,388,022 | €1,137,496 | -€250,526 | -18.0% |
| Accrued charges and deferred income | 492/3 | €112,321 | €64,720 | -€47,601 | -42.4% |
| Non-recurring operating income | 76A | - | €1,500 | +€1,500 | |
| Remuneration, social security and pensions | 62 | €408,605 | €499,751 | +€91,146 | +22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,046 | €55,679 | -€7,366 | -11.7% |
| Other operating charges | 640/8 | €145,595 | €114,700 | -€30,895 | -21.2% |
| Gross operating margin | 9900 | €1,031,273 | €1,328,760 | +€297,487 | +28.8% |
| Operating profit (loss) | 9901 | €414,027 | €658,629 | +€244,602 | +59.1% |
| Financial income | 75/76B | €16,713 | €9,923 | -€6,790 | -40.6% |
| Recurring financial income | 75 | €16,713 | €9,923 | -€6,790 | -40.6% |
| Financial charges | 65/66B | €62,148 | €44,792 | -€17,356 | -27.9% |
| Recurring financial charges | 65 | €62,148 | €44,792 | -€17,356 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €368,592 | €623,760 | +€255,168 | +69.2% |
| Income taxes | 67/77 | €98,036 | €162,906 | +€64,870 | +66.2% |
| Profit (loss) for the period | 9904 | €270,556 | €460,854 | +€190,298 | +70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €270,556 | €460,854 | +€190,298 | +70.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.