IHAGI MANAGEMENT: 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.
IHAGI MANAGEMENT
Largest movements
- Receivables within one year -€10,755
down €10,755 (-57.8%), from €18,620 to €7,865
- Tangible fixed assets +€2,666
up €2,666 (+7,886%), from €34 to €2,699
- Cash -€2,245
down €2,245 (-7.8%), from €28,931 to €26,686
mainly Contributions, distributions and other (-€11,994) and Other debts (-€6,997)
- Deferred charges and accrued income +€1,011
up €1,011 (+40.1%), from €2,522 to €3,533
- Tax, wage and social debts +€8,060
up €8,060 (+78.9%), from €10,222 to €18,283
of which Taxes: +€4,060
- Other debts -€6,997
down €6,997 (-40.0%), from €17,473 to €10,477
- Trade debts -€5,736
down €5,736 (-73.9%), from €7,761 to €2,025
- Profit (loss) carried forward -€4,651
down €4,651 (-100%), from €4,651 to €0
- Gross operating margin -€20,243
down €20,243 (-57.7%), from €35,085 to €14,843
- Financial charges +€1,178
up €1,178 (+57.1%), from €2,063 to €3,241
- Depreciation -€851
down €851 (-56.9%), from €1,496 to €644
- Taxes -€623
down €623 (-16.9%), from €3,693 to €3,070
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 | €50,107 | €40,784 | -€9,323 | -18.6% |
| Fixed assets | 21/28 | €34 | €2,699 | +€2,666 | +7,886% |
| Tangible fixed assets | 22/27 | €34 | €2,699 | +€2,666 | +7,886% |
| Furniture and vehicles | 24 | €34 | €2,699 | +€2,666 | +7,886% |
| Current assets | 29/58 | €50,074 | €38,085 | -€11,989 | -23.9% |
| Amounts receivable within one year | 40/41 | €18,620 | €7,865 | -€10,755 | -57.8% |
| Trade receivables | 40 | €18,620 | €7,865 | -€10,755 | -57.8% |
| Cash at bank and in hand | 54/58 | €28,931 | €26,686 | -€2,245 | -7.8% |
| Deferred charges and accrued income | 490/1 | €2,522 | €3,533 | +€1,011 | +40.1% |
| Total equity and liabilities | 10/49 | €50,107 | €40,784 | -€9,323 | -18.6% |
| Equity | 10/15 | €14,651 | €10,000 | -€4,651 | -31.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,651 | €0 | -€4,651 | -100% |
| Amounts payable | 17/49 | €35,457 | €30,784 | -€4,672 | -13.2% |
| Amounts payable within one year | 42/48 | €35,457 | €30,784 | -€4,672 | -13.2% |
| Trade debts | 44 | €7,761 | €2,025 | -€5,736 | -73.9% |
| Suppliers | 440/4 | €7,761 | €2,025 | -€5,736 | -73.9% |
| Taxes, remuneration and social security | 45 | €10,222 | €18,283 | +€8,060 | +78.9% |
| Taxes | 450/3 | €10,222 | €14,283 | +€4,060 | +39.7% |
| Remuneration and social security | 454/9 | €0 | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €17,473 | €10,477 | -€6,997 | -40.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,496 | €644 | -€851 | -56.9% |
| Other operating charges | 640/8 | €384 | €545 | +€160 | +41.7% |
| Gross operating margin | 9900 | €35,085 | €14,843 | -€20,243 | -57.7% |
| Operating profit (loss) | 9901 | €33,205 | €13,654 | -€19,551 | -58.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,063 | €3,241 | +€1,178 | +57.1% |
| Recurring financial charges | 65 | €2,063 | €3,241 | +€1,178 | +57.1% |
| Profit (loss) for the period before taxes | 9903 | €31,143 | €10,413 | -€20,729 | -66.6% |
| Income taxes | 67/77 | €3,693 | €3,070 | -€623 | -16.9% |
| Profit (loss) for the period | 9904 | €27,449 | €7,343 | -€20,106 | -73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €27,449 | €7,343 | -€20,106 | -73.2% |
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 14 October 2026 via checked.be.