IGEA: 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.
IGEA
Largest movements
- Receivables within one year -€57,763
down €57,763 (-49.1%), from €117,752 to €59,989
of which Other amounts receivable: -€58,160
- Current investments +€24,000
up €24,000 (+40.1%), from €59,903 to €83,903
- Cash +€12,604
up €12,604 (+27.9%), from €45,167 to €57,771
mainly Other debts (+€101,311) and Receivables within one year (+€57,763)
- Deferred charges and accrued income -€5,335
down €5,335 (-76.5%), from €6,973 to €1,638
- Tangible fixed assets -€4,512
down €4,512 (-21.8%), from €20,675 to €16,163
of which Plant, machinery and equipment: -€2,857
- Reserves -€144,377
down €144,377 (-71.8%), from €200,992 to €56,614
- Other debts +€101,311
up €101,311 (+170.0%), from €59,593 to €160,904
- Tax, wage and social debts +€23,406
up €23,406 (+120.3%), from €19,461 to €42,866
- Trade debts -€11,400
down €11,400 (-82.4%), from €13,843 to €2,443
- Gross operating margin +€14,047
up €14,047 (+44.7%), from €31,398 to €45,446
- Taxes +€4,270
up €4,270 (+50.1%), from €8,525 to €12,794
- Financial charges -€2,498
down €2,498 (-81.5%), from €3,066 to €568
- Depreciation -€1,883
down €1,883 (-21.0%), from €8,947 to €7,064
- Financial income -€1,379
down €1,379 (-28.3%), from €4,864 to €3,485
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 | €335,735 | €304,729 | -€31,006 | -9.2% |
| Fixed assets | 21/28 | €20,675 | €16,163 | -€4,512 | -21.8% |
| Tangible fixed assets | 22/27 | €20,675 | €16,163 | -€4,512 | -21.8% |
| Plant, machinery and equipment | 23 | €12,033 | €9,177 | -€2,857 | -23.7% |
| Furniture and vehicles | 24 | €8,642 | €6,986 | -€1,655 | -19.2% |
| Current assets | 29/58 | €315,060 | €288,566 | -€26,494 | -8.4% |
| Amounts receivable after more than one year | 29 | €85,266 | €85,266 | = | 0.0% |
| Other amounts receivable | 291 | €85,266 | €85,266 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €117,752 | €59,989 | -€57,763 | -49.1% |
| Trade receivables | 40 | - | €397 | +€397 | |
| Other amounts receivable | 41 | €117,752 | €59,592 | -€58,160 | -49.4% |
| Current investments | 50/53 | €59,903 | €83,903 | +€24,000 | +40.1% |
| Cash at bank and in hand | 54/58 | €45,167 | €57,771 | +€12,604 | +27.9% |
| Deferred charges and accrued income | 490/1 | €6,973 | €1,638 | -€5,335 | -76.5% |
| Total equity and liabilities | 10/49 | €335,735 | €304,729 | -€31,006 | -9.2% |
| Equity | 10/15 | €242,839 | €98,516 | -€144,323 | -59.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €200,992 | €56,614 | -€144,377 | -71.8% |
| Distributable reserves | 133 | €200,992 | €56,614 | -€144,377 | -71.8% |
| Profit (loss) carried forward | 14 | €29,447 | €29,502 | +€54 | +0.2% |
| Amounts payable | 17/49 | €92,896 | €206,213 | +€113,317 | +122.0% |
| Amounts payable within one year | 42/48 | €92,896 | €206,213 | +€113,317 | +122.0% |
| Trade debts | 44 | €13,843 | €2,443 | -€11,400 | -82.4% |
| Suppliers | 440/4 | €13,843 | €2,443 | -€11,400 | -82.4% |
| Taxes, remuneration and social security | 45 | €19,461 | €42,866 | +€23,406 | +120.3% |
| Taxes | 450/3 | €19,461 | €42,866 | +€23,406 | +120.3% |
| Other amounts payable | 47/48 | €59,593 | €160,904 | +€101,311 | +170.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,947 | €7,064 | -€1,883 | -21.0% |
| Other operating charges | 640/8 | - | €1,001 | +€1,001 | |
| Gross operating margin | 9900 | €31,398 | €45,446 | +€14,047 | +44.7% |
| Operating profit (loss) | 9901 | €22,451 | €37,381 | +€14,930 | +66.5% |
| Financial income | 75/76B | €4,864 | €3,485 | -€1,379 | -28.3% |
| Recurring financial income | 75 | €4,864 | €3,485 | -€1,379 | -28.3% |
| Financial charges | 65/66B | €3,066 | €568 | -€2,498 | -81.5% |
| Recurring financial charges | 65 | €3,066 | €568 | -€2,498 | -81.5% |
| Profit (loss) for the period before taxes | 9903 | €24,250 | €40,299 | +€16,049 | +66.2% |
| Income taxes | 67/77 | €8,525 | €12,794 | +€4,270 | +50.1% |
| Profit (loss) for the period | 9904 | €15,725 | €27,504 | +€11,779 | +74.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,725 | €27,504 | +€11,779 | +74.9% |
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 29 September 2026 via checked.be.