IGEO M.S.: what changed
IGEO M.S.
Largest movements
- Receivables within one year +€7,586
up €7,586 (+19.5%), from €38,845 to €46,431
of which Trade receivables: +€9,747
- Cash +€1,882
up €1,882 (+65.4%), from €2,876 to €4,758
mainly Trade debts (+€13,074) and Depreciation (+€3,098)
- Tangible fixed assets +€702
up €702 (+12.9%), from €5,437 to €6,139
of which Furniture and vehicles: +€2,858
- Trade debts +€13,074
up €13,074 (+481%), from €2,718 to €15,792
- Profit (loss) carried forward -€3,218
down €3,218 (-13.0%), from €24,717 to €21,499
- Tax, wage and social debts +€1,157
up €1,157 (+29.0%), from €3,993 to €5,150
of which Taxes: +€3,851
- Accrued charges and deferred income -€980
no longer reported in 2025 (was €980)
- Staff costs -€2,920
no longer reported in 2025 (was €2,920)
- Depreciation +€590
up €590 (+23.5%), from €2,508 to €3,098
- Taxes +€377
up €377 (+35.9%), from €1,049 to €1,426
- Gross operating margin -€328
down €328 (-9.0%), from €3,647 to €3,319
- Other operating charges +€259
up €259 (+28.9%), from €896 to €1,155
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €47,251 | €57,534 | +€10,283 | +21.8% |
| Fixed assets | 21/28 | €5,437 | €6,139 | +€702 | +12.9% |
| Tangible fixed assets | 22/27 | €5,437 | €6,139 | +€702 | +12.9% |
| Land and buildings | 22 | €2,266 | €1,709 | -€557 | -24.6% |
| Plant, machinery and equipment | 23 | €1,942 | €343 | -€1,599 | -82.3% |
| Furniture and vehicles | 24 | €1,229 | €4,087 | +€2,858 | +233% |
| Current assets | 29/58 | €41,814 | €51,395 | +€9,581 | +22.9% |
| Amounts receivable within one year | 40/41 | €38,845 | €46,431 | +€7,586 | +19.5% |
| Trade receivables | 40 | €8,926 | €18,673 | +€9,747 | +109% |
| Other amounts receivable | 41 | €29,919 | €27,758 | -€2,161 | -7.2% |
| Cash at bank and in hand | 54/58 | €2,876 | €4,758 | +€1,882 | +65.4% |
| Deferred charges and accrued income | 490/1 | €93 | €206 | +€113 | +122% |
| Total equity and liabilities | 10/49 | €47,251 | €57,534 | +€10,283 | +21.8% |
| Equity | 10/15 | €38,977 | €35,759 | -€3,218 | -8.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,717 | €21,499 | -€3,218 | -13.0% |
| Amounts payable | 17/49 | €8,274 | €21,775 | +€13,501 | +163% |
| Amounts payable within one year | 42/48 | €7,294 | €21,775 | +€14,481 | +199% |
| Trade debts | 44 | €2,718 | €15,792 | +€13,074 | +481% |
| Suppliers | 440/4 | €2,718 | €15,792 | +€13,074 | +481% |
| Taxes, remuneration and social security | 45 | €3,993 | €5,150 | +€1,157 | +29.0% |
| Taxes | 450/3 | €1,299 | €5,150 | +€3,851 | +296% |
| Remuneration and social security | 454/9 | €2,694 | - | -€2,694 | |
| Other amounts payable | 47/48 | €583 | €833 | +€250 | +42.9% |
| Accrued charges and deferred income | 492/3 | €980 | - | -€980 | |
| Remuneration, social security and pensions | 62 | €2,920 | - | -€2,920 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,508 | €3,098 | +€590 | +23.5% |
| Other operating charges | 640/8 | €896 | €1,155 | +€259 | +28.9% |
| Gross operating margin | 9900 | €3,647 | €3,319 | -€328 | -9.0% |
| Operating profit (loss) | 9901 | -€2,677 | -€934 | +€1,743 | +65.1% |
| Financial income | 75/76B | €19 | €36 | +€17 | +89.5% |
| Recurring financial income | 75 | €19 | €36 | +€17 | +89.5% |
| Financial charges | 65/66B | €64 | €59 | -€5 | -7.8% |
| Recurring financial charges | 65 | €64 | €59 | -€5 | -7.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,722 | -€957 | +€1,765 | +64.8% |
| Income taxes | 67/77 | €1,049 | €1,426 | +€377 | +35.9% |
| Profit (loss) for the period | 9904 | -€3,771 | -€2,383 | +€1,388 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,771 | -€2,383 | +€1,388 | +36.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.