IGINDO: 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.
IGINDO
Largest movements
- Cash +€30,578
up €30,578 (+53.6%), from €57,094 to €87,672
mainly Net result for the year (+€101,466) and Trade debts (+€25,942)
- Current investments +€6,000
up €6,000 (+20.4%), from €29,351 to €35,351
- Receivables within one year -€3,669
down €3,669 (-2.1%), from €172,178 to €168,510
of which Other amounts receivable: -€41,642
- Trade debts +€25,942
up €25,942 (+440%), from €5,895 to €31,837
- Reserves -€12,908
down €12,908 (-4.8%), from €267,996 to €255,088
- Current portion of long-term debt +€12,523
up €12,523 (+735%), from €1,704 to €14,227
- Tax, wage and social debts +€9,308
up €9,308 (+68.9%), from €13,508 to €22,816
- Gross operating margin +€18,538
up €18,538 (+13.7%), from €135,350 to €153,888
- Taxes +€5,801
up €5,801 (+15.1%), from €38,508 to €44,308
- Financial income +€1,835
up €1,835 (+32.9%), from €5,571 to €7,407
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 | €295,445 | €330,683 | +€35,239 | +11.9% |
| Fixed assets | 21/28 | €34,012 | €36,644 | +€2,632 | +7.7% |
| Tangible fixed assets | 22/27 | €34,012 | €36,644 | +€2,632 | +7.7% |
| Furniture and vehicles | 24 | €4,984 | €10,352 | +€5,368 | +108% |
| Other tangible fixed assets | 26 | €29,028 | €26,292 | -€2,736 | -9.4% |
| Current assets | 29/58 | €261,433 | €294,040 | +€32,607 | +12.5% |
| Amounts receivable within one year | 40/41 | €172,178 | €168,510 | -€3,669 | -2.1% |
| Trade receivables | 40 | €35,617 | €73,590 | +€37,973 | +107% |
| Other amounts receivable | 41 | €136,561 | €94,920 | -€41,642 | -30.5% |
| Current investments | 50/53 | €29,351 | €35,351 | +€6,000 | +20.4% |
| Cash at bank and in hand | 54/58 | €57,094 | €87,672 | +€30,578 | +53.6% |
| Deferred charges and accrued income | 490/1 | €2,809 | €2,507 | -€302 | -10.8% |
| Total equity and liabilities | 10/49 | €295,445 | €330,683 | +€35,239 | +11.9% |
| Equity | 10/15 | €274,196 | €261,288 | -€12,908 | -4.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €267,996 | €255,088 | -€12,908 | -4.8% |
| Distributable reserves | 133 | €267,996 | €255,088 | -€12,908 | -4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €21,249 | €69,395 | +€48,147 | +227% |
| Amounts payable within one year | 42/48 | €21,107 | €68,880 | +€47,773 | +226% |
| Current portion of amounts payable after more than one year | 42 | €1,704 | €14,227 | +€12,523 | +735% |
| Trade debts | 44 | €5,895 | €31,837 | +€25,942 | +440% |
| Suppliers | 440/4 | €5,895 | €31,837 | +€25,942 | +440% |
| Taxes, remuneration and social security | 45 | €13,508 | €22,816 | +€9,308 | +68.9% |
| Taxes | 450/3 | €13,508 | €22,816 | +€9,308 | +68.9% |
| Accrued charges and deferred income | 492/3 | €142 | €515 | +€373 | +263% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,963 | €10,925 | +€962 | +9.7% |
| Other operating charges | 640/8 | €763 | €597 | -€166 | -21.7% |
| Gross operating margin | 9900 | €135,350 | €153,888 | +€18,538 | +13.7% |
| Operating profit (loss) | 9901 | €124,624 | €142,366 | +€17,742 | +14.2% |
| Financial income | 75/76B | €5,571 | €7,407 | +€1,835 | +32.9% |
| Recurring financial income | 75 | €5,571 | €7,407 | +€1,835 | +32.9% |
| Financial charges | 65/66B | €3,396 | €3,998 | +€602 | +17.7% |
| Recurring financial charges | 65 | €3,396 | €3,998 | +€602 | +17.7% |
| Profit (loss) for the period before taxes | 9903 | €126,800 | €145,774 | +€18,975 | +15.0% |
| Income taxes | 67/77 | €38,508 | €44,308 | +€5,801 | +15.1% |
| Profit (loss) for the period | 9904 | €88,292 | €101,466 | +€13,174 | +14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €88,292 | €101,466 | +€13,174 | +14.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.