IGW CONSULTING: 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.
IGW CONSULTING
Largest movements
- Cash -€47,102
down €47,102 (-64.1%), from €73,538 to €26,437
mainly Contributions, distributions and other (-€34,000) and Trade debts (-€27,186)
- Receivables after one year -€9,594
down €9,594 (-21.0%), from €45,782 to €36,188
- Tangible fixed assets -€5,557
down €5,557 (-20.5%), from €27,080 to €21,524
of which Furniture and vehicles: -€7,299
- Receivables within one year +€2,112
up €2,112 (+15.4%), from €13,678 to €15,790
of which Other amounts receivable: +€1,442
- Trade debts -€27,186
down €27,186 (-96.0%), from €28,325 to €1,139
- Tax, wage and social debts -€11,339
down €11,339 (-95.0%), from €11,934 to €594
- Reserves -€8,664
down €8,664 (-9.2%), from €94,175 to €85,511
- Debts after one year -€7,097
no longer reported in 2025 (was €7,097)
- Current portion of long-term debt -€5,852
down €5,852 (-46.6%), from €12,547 to €6,695
- Gross operating margin +€8,001
up €8,001 (+19.9%), from €40,300 to €48,301
- Taxes +€4,142
up €4,142 (+46.8%), from €8,858 to €13,000
- Financial income +€1,668
up €1,668 (+79,415%), from €2 to €1,670
- Other operating charges +€1,373
up €1,373 (+151%), from €907 to €2,280
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 | €160,078 | €99,939 | -€60,139 | -37.6% |
| Fixed assets | 21/28 | €27,080 | €21,524 | -€5,557 | -20.5% |
| Tangible fixed assets | 22/27 | €27,080 | €21,524 | -€5,557 | -20.5% |
| Plant, machinery and equipment | 23 | - | €1,743 | +€1,743 | |
| Furniture and vehicles | 24 | €27,080 | €19,781 | -€7,299 | -27.0% |
| Current assets | 29/58 | €132,997 | €78,415 | -€54,583 | -41.0% |
| Amounts receivable after more than one year | 29 | €45,782 | €36,188 | -€9,594 | -21.0% |
| Other amounts receivable | 291 | €45,782 | €36,188 | -€9,594 | -21.0% |
| Amounts receivable within one year | 40/41 | €13,678 | €15,790 | +€2,112 | +15.4% |
| Trade receivables | 40 | €9,218 | €9,889 | +€670 | +7.3% |
| Other amounts receivable | 41 | €4,459 | €5,901 | +€1,442 | +32.3% |
| Cash at bank and in hand | 54/58 | €73,538 | €26,437 | -€47,102 | -64.1% |
| Total equity and liabilities | 10/49 | €160,078 | €99,939 | -€60,139 | -37.6% |
| Equity | 10/15 | €100,175 | €91,511 | -€8,664 | -8.6% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Contributions outside capital | 11 | €6,000 | €6,000 | = | 0.0% |
| Other | 1109/19 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €94,175 | €85,511 | -€8,664 | -9.2% |
| Distributable reserves | 133 | €94,175 | €85,511 | -€8,664 | -9.2% |
| Amounts payable | 17/49 | €59,903 | €8,428 | -€51,475 | -85.9% |
| Amounts payable after more than one year | 17 | €7,097 | - | -€7,097 | |
| Financial debts | 170/4 | €7,097 | - | -€7,097 | |
| Amounts payable within one year | 42/48 | €52,805 | €8,428 | -€44,378 | -84.0% |
| Current portion of amounts payable after more than one year | 42 | €12,547 | €6,695 | -€5,852 | -46.6% |
| Trade debts | 44 | €28,325 | €1,139 | -€27,186 | -96.0% |
| Suppliers | 440/4 | €28,325 | €1,139 | -€27,186 | -96.0% |
| Taxes, remuneration and social security | 45 | €11,934 | €594 | -€11,339 | -95.0% |
| Taxes | 450/3 | €11,934 | €594 | -€11,339 | -95.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,280 | €8,650 | +€370 | +4.5% |
| Other operating charges | 640/8 | €907 | €2,280 | +€1,373 | +151% |
| Gross operating margin | 9900 | €40,300 | €48,301 | +€8,001 | +19.9% |
| Operating profit (loss) | 9901 | €31,113 | €37,371 | +€6,258 | +20.1% |
| Financial income | 75/76B | €2 | €1,670 | +€1,668 | +79,415% |
| Recurring financial income | 75 | €2 | €1,670 | +€1,668 | +79,415% |
| Financial charges | 65/66B | €1,107 | €705 | -€402 | -36.3% |
| Recurring financial charges | 65 | €1,107 | €705 | -€402 | -36.3% |
| Profit (loss) for the period before taxes | 9903 | €30,008 | €38,336 | +€8,328 | +27.8% |
| Income taxes | 67/77 | €8,858 | €13,000 | +€4,142 | +46.8% |
| Profit (loss) for the period | 9904 | €21,150 | €25,336 | +€4,186 | +19.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,150 | €25,336 | +€4,186 | +19.8% |
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 26 October 2026 via checked.be.