iGuards: 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.
iGuards
Largest movements
- Intangible fixed assets -€31,000
down €31,000 (-27.9%), from €111,083 to €80,083
- Receivables within one year +€21,302
up €21,302 (+34.9%), from €60,996 to €82,299
of which Trade receivables: +€20,883
- Deferred charges and accrued income -€10,000
down €10,000 (-100.0%), from €10,000 to €0
- Cash +€3,675
up €3,675 (+306.5%), from €1,199 to €4,874
mainly Depreciation (+€31,000) and Net result for the year (+€26,605)
- Other debts -€34,506
down €34,506 (-23.6%), from €145,994 to €111,488
- Profit (loss) carried forward +€26,605
up €26,605 (+1345.8%), from €1,977 to €28,581
- Accrued charges and deferred income -€7,000
down €7,000 (-100.0%), from €7,000 to €0
- Short-term financial debts -€4,000
down €4,000 (-100.0%), from €4,000 to €0
- Tax, wage and social debts +€2,314
new in 2025: €2,314
- Gross operating margin +€50,915
up €50,915 (+519.8%), from €9,796 to €60,711
- Taxes +€1,188
new in 2025: €1,188
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 | €183,279 | €167,256 | -€16,023 | -8.7% |
| Fixed assets | 21/28 | €111,083 | €80,083 | -€31,000 | -27.9% |
| Intangible fixed assets | 21 | €111,083 | €80,083 | -€31,000 | -27.9% |
| Current assets | 29/58 | €72,195 | €87,173 | +€14,977 | +20.7% |
| Amounts receivable within one year | 40/41 | €60,996 | €82,299 | +€21,302 | +34.9% |
| Trade receivables | 40 | €16,867 | €37,751 | +€20,883 | +123.8% |
| Other amounts receivable | 41 | €44,129 | €44,548 | +€419 | +0.9% |
| Current investments | 50/53 | €0 | €0 | -€0 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,199 | €4,874 | +€3,675 | +306.5% |
| Deferred charges and accrued income | 490/1 | €10,000 | €0 | -€10,000 | -100.0% |
| Total equity and liabilities | 10/49 | €183,279 | €167,256 | -€16,023 | -8.7% |
| Equity | 10/15 | €10,037 | €36,641 | +€26,605 | +265.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | - | €6,200 | +€6,200 | |
| Other | 1109/19 | - | €6,200 | +€6,200 | |
| 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 | €1,977 | €28,581 | +€26,605 | +1345.8% |
| Amounts payable | 17/49 | €173,242 | €130,615 | -€42,627 | -24.6% |
| Amounts payable within one year | 42/48 | €166,242 | €130,615 | -€35,627 | -21.4% |
| Financial debts | 43 | €4,000 | €0 | -€4,000 | -100.0% |
| Credit institutions | 430/8 | €4,000 | €0 | -€4,000 | -100.0% |
| Trade debts | 44 | €16,248 | €16,813 | +€564 | +3.5% |
| Suppliers | 440/4 | €16,248 | €16,813 | +€564 | +3.5% |
| Taxes, remuneration and social security | 45 | - | €2,314 | +€2,314 | |
| Taxes | 450/3 | - | €2,314 | +€2,314 | |
| Other amounts payable | 47/48 | €145,994 | €111,488 | -€34,506 | -23.6% |
| Accrued charges and deferred income | 492/3 | €7,000 | €0 | -€7,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,000 | €31,000 | = | 0.0% |
| Other operating charges | 640/8 | €723 | €702 | -€21 | -2.9% |
| Gross operating margin | 9900 | €9,796 | €60,711 | +€50,915 | +519.8% |
| Operating profit (loss) | 9901 | -€21,927 | €29,009 | +€50,936 | |
| Financial charges | 65/66B | €1,505 | €1,216 | -€289 | -19.2% |
| Recurring financial charges | 65 | €1,505 | €1,216 | -€289 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | -€23,433 | €27,793 | +€51,226 | |
| Income taxes | 67/77 | - | €1,188 | +€1,188 | |
| Profit (loss) for the period | 9904 | -€23,433 | €26,605 | +€50,038 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,433 | €26,605 | +€50,038 |
Source: filed annual accounts (NBB), fiscal years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.