IGUS: 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.
IGUS
Largest movements
- Cash -€174,944
down €174,944 (-78.7%), from €222,173 to €47,229
mainly Tax, wage and social debts (-€108,989) and Receivables within one year (-€108,122)
- Receivables within one year +€108,122
up €108,122 (+64.8%), from €166,937 to €275,059
of which Trade receivables: +€139,873
- Deferred charges and accrued income +€13,160
up €13,160 (+146%), from €9,007 to €22,167
- Tax, wage and social debts -€108,989
down €108,989 (-39.3%), from €277,095 to €168,107
of which Taxes: -€102,997
- Profit (loss) carried forward +€52,288
up €52,288 (+54.9%), from €95,257 to €147,546
- Accrued charges and deferred income -€10,434
down €10,434 (-93.0%), from €11,219 to €785
- Trade debts +€10,166
up €10,166 (+45.5%), from €22,350 to €32,516
- Gross operating margin +€146,478
up €146,478 (+12.8%), from €1.1m to €1.3m
- Staff costs +€116,232
up €116,232 (+11.0%), from €1.1m to €1.2m
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 | €426,547 | €369,578 | -€56,969 | -13.4% |
| Fixed assets | 21/28 | €28,430 | €25,124 | -€3,307 | -11.6% |
| Tangible fixed assets | 22/27 | €24,800 | €21,494 | -€3,307 | -13.3% |
| Plant, machinery and equipment | 23 | - | €4,293 | +€4,293 | |
| Furniture and vehicles | 24 | €21,669 | €15,046 | -€6,623 | -30.6% |
| Other tangible fixed assets | 26 | €3,131 | €2,154 | -€977 | -31.2% |
| Financial fixed assets | 28 | €3,630 | €3,630 | = | 0.0% |
| Current assets | 29/58 | €398,117 | €344,454 | -€53,662 | -13.5% |
| Amounts receivable within one year | 40/41 | €166,937 | €275,059 | +€108,122 | +64.8% |
| Trade receivables | 40 | €108,137 | €248,010 | +€139,873 | +129% |
| Other amounts receivable | 41 | €58,800 | €27,049 | -€31,751 | -54.0% |
| Cash at bank and in hand | 54/58 | €222,173 | €47,229 | -€174,944 | -78.7% |
| Deferred charges and accrued income | 490/1 | €9,007 | €22,167 | +€13,160 | +146% |
| Total equity and liabilities | 10/49 | €426,547 | €369,578 | -€56,969 | -13.4% |
| Equity | 10/15 | €115,882 | €168,171 | +€52,288 | +45.1% |
| Contributions | 10/11 | €18,750 | €18,750 | = | 0.0% |
| Reserves | 13 | €1,875 | €1,875 | = | 0.0% |
| Distributable reserves | 133 | €1,875 | €1,875 | = | 0.0% |
| Profit (loss) carried forward | 14 | €95,257 | €147,546 | +€52,288 | +54.9% |
| Amounts payable | 17/49 | €310,664 | €201,407 | -€109,257 | -35.2% |
| Amounts payable within one year | 42/48 | €299,446 | €200,623 | -€98,823 | -33.0% |
| Trade debts | 44 | €22,350 | €32,516 | +€10,166 | +45.5% |
| Suppliers | 440/4 | €22,350 | €32,516 | +€10,166 | +45.5% |
| Taxes, remuneration and social security | 45 | €277,095 | €168,107 | -€108,989 | -39.3% |
| Taxes | 450/3 | €134,200 | €31,203 | -€102,997 | -76.7% |
| Remuneration and social security | 454/9 | €142,896 | €136,904 | -€5,992 | -4.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €11,219 | €785 | -€10,434 | -93.0% |
| Non-recurring operating income | 76A | - | €120 | +€120 | |
| Remuneration, social security and pensions | 62 | €1,058,126 | €1,174,358 | +€116,232 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,546 | €10,181 | +€634 | +6.6% |
| Other operating charges | 640/8 | €6,066 | €5,018 | -€1,048 | -17.3% |
| Gross operating margin | 9900 | €1,141,101 | €1,287,580 | +€146,478 | +12.8% |
| Operating profit (loss) | 9901 | €67,363 | €98,023 | +€30,660 | +45.5% |
| Financial income | 75/76B | €10,092 | €454 | -€9,638 | -95.5% |
| Recurring financial income | 75 | €10,092 | €454 | -€9,638 | -95.5% |
| Financial charges | 65/66B | €12,204 | €16,757 | +€4,553 | +37.3% |
| Recurring financial charges | 65 | €12,204 | €16,757 | +€4,553 | +37.3% |
| Profit (loss) for the period before taxes | 9903 | €65,251 | €81,720 | +€16,469 | +25.2% |
| Income taxes | 67/77 | €31,237 | €29,432 | -€1,805 | -5.8% |
| Profit (loss) for the period | 9904 | €34,014 | €52,288 | +€18,275 | +53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €34,014 | €52,288 | +€18,275 | +53.7% |
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 14 October 2026 via checked.be.