IGIS Brederode Brussels: 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.
What changed
IGIS Brederode Brussels
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€1.1m
2024 · -€2.5m+€1.4m
Equity
€35.7m
2024 · €36.8m-€1.1m
Cash
€4.2m
2024 · €2.6m+€1.6m
Balance sheet total
€105.2m
2024 · €105.9m-€662,848
Largest movements
Assets
- Tangible fixed assets -€2.8m
down €2.8m (-2.7%), from €102.6m to €99.9m
- Cash +€1.6m
up €1.6m (+61.8%), from €2.6m to €4.2m
mainly Depreciation (+€3.1m) and Trade debts (+€510,404)
Equity and liabilities
- Profit (loss) carried forward -€1.1m
down €1.1m (-4.9%), from -€23.3m to -€24.5m
Income statement
- Financial charges -€565,774
down €565,774 (-15.8%), from €3.6m to €3.0m
- Gross operating margin +€416,765
up €416,765 (+8.1%), from €5.2m to €5.6m
- Depreciation -€401,827
down €401,827 (-11.4%), from €3.5m to €3.1m
- Turnover +€212,287
up €212,287 (+4.0%), from €5.3m to €5.5m
- Purchases and services -€88,972
down €88,972 (-6.6%), from €1.4m to €1.3m
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.
Result 2024
-€2.5m
Gross operating margin
+€416,765
Depreciation
+€401,827
Write-downs
+€9,551
Other operating charges
-€65,403
Financial income
+€2,574
Financial charges
+€565,774
Taxes
+€20,635
Result 2025
-€1.1m
raises the resultlowers the result
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.
From operations
+€2.0m
Investment
-€355,702
Financing
€0
Cash 2024
€2.6m
From operations (derived)
+€2.0m
Net result for the year
-€1.1m
Depreciation
+€3.1m
Receivables within one year
-€466,665
Deferred charges and accrued income
-€36,273
Trade debts
+€510,404
Tax, wage and social debts
-€32,952
Other debts
-€54,874
Accrued charges and deferred income
+€48,832
Investment (derived)
-€355,702
Investment in fixed assets (net)
-€355,702
Cash 2025
€4.2m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,907,308 | €105,244,460 | -€662,848 | -0.6% |
| Fixed assets | 21/28 | €102,630,000 | €99,861,073 | -€2.8m | -2.7% |
| Tangible fixed assets | 22/27 | €102,630,000 | €99,861,073 | -€2.8m | -2.7% |
| Land and buildings | 22 | €102,630,000 | €99,861,073 | -€2.8m | -2.7% |
| Current assets | 29/58 | €3,277,308 | €5,383,387 | +€2.1m | +64.3% |
| Amounts receivable within one year | 40/41 | €662,258 | €1,128,923 | +€466,665 | +70.5% |
| Trade receivables | 40 | €662,258 | €1,128,923 | +€466,665 | +70.5% |
| Cash at bank and in hand | 54/58 | €2,593,822 | €4,196,964 | +€1.6m | +61.8% |
| Deferred charges and accrued income | 490/1 | €21,228 | €57,500 | +€36,273 | +171% |
| Total equity and liabilities | 10/49 | €105,907,308 | €105,244,460 | -€662,848 | -0.6% |
| Equity | 10/15 | €36,805,189 | €35,670,932 | -€1.1m | -3.1% |
| Contributions | 10/11 | €55,641,667 | €55,641,667 | = | 0.0% |
| Capital | 10 | €55,641,667 | €55,641,667 | = | 0.0% |
| Issued capital | 100 | €55,641,667 | €55,641,667 | = | 0.0% |
| Revaluation surpluses | 12 | €3,993,404 | €3,286,210 | -€707,194 | -17.7% |
| Reserves | 13 | €509,408 | €1,216,602 | +€707,194 | +139% |
| Non-distributable reserves | 130/1 | €509,408 | €509,408 | = | 0.0% |
| Legal reserve | 130 | €509,408 | €509,408 | = | 0.0% |
| Distributable reserves | 133 | - | €707,194 | +€707,194 | |
| Profit (loss) carried forward | 14 | -€23,339,290 | -€24,473,547 | -€1.1m | -4.9% |
| Amounts payable | 17/49 | €69,102,119 | €69,573,528 | +€471,409 | +0.7% |
| Amounts payable after more than one year | 17 | €67,272,873 | €67,272,873 | = | 0.0% |
| Financial debts | 170/4 | €67,272,873 | €67,272,873 | = | 0.0% |
| Amounts payable within one year | 42/48 | €271,212 | €693,789 | +€422,577 | +156% |
| Trade debts | 44 | €182,516 | €692,920 | +€510,404 | +280% |
| Suppliers | 440/4 | €182,516 | €692,920 | +€510,404 | +280% |
| Taxes, remuneration and social security | 45 | €33,821 | €870 | -€32,952 | -97.4% |
| Taxes | 450/3 | €33,821 | €870 | -€32,952 | -97.4% |
| Other amounts payable | 47/48 | €54,874 | - | -€54,874 | |
| Accrued charges and deferred income | 492/3 | €1,558,034 | €1,606,866 | +€48,832 | +3.1% |
| Turnover | 70 | €5,306,226 | €5,518,513 | +€212,287 | +4.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €1,352,106 | €1,263,134 | -€88,972 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,526,456 | €3,124,628 | -€401,827 | -11.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€9,551 | -€9,551 | |
| Other operating charges | 640/8 | €516,529 | €581,932 | +€65,403 | +12.7% |
| Gross operating margin | 9900 | €5,158,506 | €5,575,270 | +€416,765 | +8.1% |
| Operating profit (loss) | 9901 | €1,115,522 | €1,878,261 | +€762,739 | +68.4% |
| Financial income | 75/76B | €16,319 | €18,893 | +€2,574 | +15.8% |
| Recurring financial income | 75 | €16,319 | €18,893 | +€2,574 | +15.8% |
| Financial charges | 65/66B | €3,582,572 | €3,016,799 | -€565,774 | -15.8% |
| Recurring financial charges | 65 | €3,582,572 | €3,016,799 | -€565,774 | -15.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,450,732 | -€1,119,644 | +€1.3m | +54.3% |
| Income taxes | 67/77 | €35,248 | €14,612 | -€20,635 | -58.5% |
| Profit (loss) for the period | 9904 | -€2,485,980 | -€1,134,257 | +€1.4m | +54.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,485,980 | -€1,134,257 | +€1.4m | +54.4% |
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 21 October 2026 via checked.be.