IGOBEL: 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.
IGOBEL
Largest movements
- Tangible fixed assets +€27,368
up €27,368 (+176.3%), from €15,520 to €42,888
of which Plant, machinery and equipment: +€18,909
- Receivables after one year -€7,883
down €7,883 (-100.0%), from €7,883 to €0
of which Trade receivables: -€7,883
- Receivables within one year -€4,571
down €4,571 (-5.5%), from €82,738 to €78,168
of which Other amounts receivable: -€20,514
- Debts after one year +€67,649
up €67,649 (+39.0%), from €173,649 to €241,297
- Profit (loss) carried forward -€54,021
down €54,021 (-439.2%), from -€12,299 to -€66,320
- Tax, wage and social debts -€7,944
down €7,944 (-82.8%), from €9,592 to €1,648
- Trade debts +€6,350
up €6,350 (+124.7%), from €5,092 to €11,442
- Staff costs +€76,888
new in 2025: €76,888
- Gross operating margin +€60,307
up €60,307, from -€12,282 to €48,024
- Other operating charges +€11,694
up €11,694 (+3107.1%), from €376 to €12,070
- Depreciation +€5,214
up €5,214 (+118.7%), from €4,394 to €9,608
- Financial charges +€1,623
up €1,623 (+44.1%), from €3,676 to €5,299
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 | €212,251 | €225,774 | +€13,524 | +6.4% |
| Fixed assets | 21/28 | €117,688 | €145,056 | +€27,368 | +23.3% |
| Tangible fixed assets | 22/27 | €15,520 | €42,888 | +€27,368 | +176.3% |
| Plant, machinery and equipment | 23 | €646 | €19,555 | +€18,909 | +2925.3% |
| Furniture and vehicles | 24 | €14,874 | €23,333 | +€8,459 | +56.9% |
| Financial fixed assets | 28 | €102,168 | €102,168 | = | 0.0% |
| Current assets | 29/58 | €94,563 | €80,718 | -€13,844 | -14.6% |
| Amounts receivable after more than one year | 29 | €7,883 | €0 | -€7,883 | -100.0% |
| Trade receivables | 290 | €7,883 | - | -€7,883 | |
| Other amounts receivable | 291 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €82,738 | €78,168 | -€4,571 | -5.5% |
| Trade receivables | 40 | €42,431 | €58,374 | +€15,943 | +37.6% |
| Other amounts receivable | 41 | €40,308 | €19,794 | -€20,514 | -50.9% |
| Cash at bank and in hand | 54/58 | €1,115 | €155 | -€960 | -86.1% |
| Deferred charges and accrued income | 490/1 | €2,827 | €2,395 | -€431 | -15.3% |
| Total equity and liabilities | 10/49 | €212,251 | €225,774 | +€13,524 | +6.4% |
| Equity | 10/15 | €20,518 | -€33,503 | -€54,021 | |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €26,620 | €26,620 | = | 0.0% |
| Distributable reserves | 133 | €26,620 | €26,620 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,299 | -€66,320 | -€54,021 | -439.2% |
| Amounts payable | 17/49 | €191,733 | €259,278 | +€67,545 | +35.2% |
| Amounts payable after more than one year | 17 | €173,649 | €241,297 | +€67,649 | +39.0% |
| Other amounts payable | 178/9 | €173,649 | €241,297 | +€67,649 | +39.0% |
| Amounts payable within one year | 42/48 | €14,684 | €13,090 | -€1,594 | -10.9% |
| Trade debts | 44 | €5,092 | €11,442 | +€6,350 | +124.7% |
| Suppliers | 440/4 | €5,092 | €11,442 | +€6,350 | +124.7% |
| Taxes, remuneration and social security | 45 | €9,592 | €1,648 | -€7,944 | -82.8% |
| Taxes | 450/3 | €9,592 | €1,648 | -€7,944 | -82.8% |
| Accrued charges and deferred income | 492/3 | €3,400 | €4,890 | +€1,490 | +43.8% |
| Remuneration, social security and pensions | 62 | - | €76,888 | +€76,888 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,394 | €9,608 | +€5,214 | +118.7% |
| Other operating charges | 640/8 | €376 | €12,070 | +€11,694 | +3107.1% |
| Gross operating margin | 9900 | -€12,282 | €48,024 | +€60,307 | |
| Operating profit (loss) | 9901 | -€17,052 | -€50,542 | -€33,489 | -196.4% |
| Financial income | 75/76B | €2,323 | €1,974 | -€349 | -15.0% |
| Recurring financial income | 75 | €2,323 | €1,974 | -€349 | -15.0% |
| Financial charges | 65/66B | €3,676 | €5,299 | +€1,623 | +44.1% |
| Recurring financial charges | 65 | €3,676 | €5,299 | +€1,623 | +44.1% |
| Profit (loss) for the period before taxes | 9903 | -€18,405 | -€53,867 | -€35,461 | -192.7% |
| Income taxes | 67/77 | -€879 | €155 | +€1,034 | |
| Profit (loss) for the period | 9904 | -€17,526 | -€54,021 | -€36,495 | -208.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,526 | -€54,021 | -€36,495 | -208.2% |
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 12 October 2026 via checked.be.