IJSMAN: 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.
IJSMAN
Largest movements
- Tangible fixed assets +€521,875
up €521,875 (+1779.0%), from €29,335 to €551,211
of which Land and buildings: +€508,688
- Cash +€25,210
up €25,210 (+70.3%), from €35,835 to €61,045
mainly Other debts (+€300,686) and Debts after one year (+€200,000)
- Receivables within one year -€24,076
down €24,076 (-56.7%), from €42,496 to €18,419
of which Trade receivables: -€25,685
- Other debts +€300,686
up €300,686 (+134.9%), from €222,917 to €523,603
- Debts after one year +€200,000
up €200,000 (+200.0%), from €100,000 to €300,000
- Profit (loss) carried forward +€90,985
up €90,985 (+24.5%), from -€372,110 to -€281,125
- Current portion of long-term debt -€37,261
no longer reported in 2025 (was €37,261)
- Trade debts -€27,005
down €27,005 (-76.2%), from €35,417 to €8,412
- Gross operating margin +€63,717
up €63,717 (+30.4%), from €209,828 to €273,545
- Staff costs +€12,253
up €12,253 (+11.4%), from €107,565 to €119,819
- Financial charges -€4,901
down €4,901 (-46.9%), from €10,447 to €5,546
- Depreciation -€3,289
down €3,289 (-6.7%), from €49,397 to €46,108
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 | €117,497 | €644,580 | +€527,084 | +448.6% |
| Fixed assets | 21/28 | €29,885 | €551,761 | +€521,875 | +1746.3% |
| Tangible fixed assets | 22/27 | €29,335 | €551,211 | +€521,875 | +1779.0% |
| Land and buildings | 22 | €21,257 | €529,944 | +€508,688 | +2393.1% |
| Plant, machinery and equipment | 23 | €7,328 | €20,921 | +€13,594 | +185.5% |
| Furniture and vehicles | 24 | €751 | €345 | -€406 | -54.1% |
| Financial fixed assets | 28 | €550 | €550 | = | 0.0% |
| Current assets | 29/58 | €87,611 | €92,819 | +€5,208 | +5.9% |
| Stocks and contracts in progress | 3 | €9,280 | €13,355 | +€4,075 | +43.9% |
| Stocks | 30/36 | €9,280 | €13,355 | +€4,075 | +43.9% |
| Amounts receivable within one year | 40/41 | €42,496 | €18,419 | -€24,076 | -56.7% |
| Trade receivables | 40 | €42,496 | €16,810 | -€25,685 | -60.4% |
| Other amounts receivable | 41 | - | €1,609 | +€1,609 | |
| Cash at bank and in hand | 54/58 | €35,835 | €61,045 | +€25,210 | +70.3% |
| Total equity and liabilities | 10/49 | €117,497 | €644,580 | +€527,084 | +448.6% |
| Equity | 10/15 | -€283,179 | -€192,194 | +€90,985 | +32.1% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Outside capital | 11 | €74,400 | €74,400 | = | 0.0% |
| Other | 1109/19 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €14,531 | €14,531 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,531 | €14,531 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€372,110 | -€281,125 | +€90,985 | +24.5% |
| Amounts payable | 17/49 | €400,676 | €836,774 | +€436,098 | +108.8% |
| Amounts payable after more than one year | 17 | €100,000 | €300,000 | +€200,000 | +200.0% |
| Financial debts | 170/4 | €100,000 | €300,000 | +€200,000 | +200.0% |
| Amounts payable within one year | 42/48 | €300,676 | €536,774 | +€236,098 | +78.5% |
| Current portion of amounts payable after more than one year | 42 | €37,261 | - | -€37,261 | |
| Trade debts | 44 | €35,417 | €8,412 | -€27,005 | -76.2% |
| Suppliers | 440/4 | €35,417 | €8,412 | -€27,005 | -76.2% |
| Taxes, remuneration and social security | 45 | €5,081 | €4,759 | -€322 | -6.3% |
| Taxes | 450/3 | €1,627 | €1,310 | -€317 | -19.5% |
| Remuneration and social security | 454/9 | €3,454 | €3,449 | -€6 | -0.2% |
| Other amounts payable | 47/48 | €222,917 | €523,603 | +€300,686 | +134.9% |
| Remuneration, social security and pensions | 62 | €107,565 | €119,819 | +€12,253 | +11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,397 | €46,108 | -€3,289 | -6.7% |
| Other operating charges | 640/8 | €10,050 | €10,695 | +€645 | +6.4% |
| Gross operating margin | 9900 | €209,828 | €273,545 | +€63,717 | +30.4% |
| Operating profit (loss) | 9901 | €42,816 | €96,924 | +€54,108 | +126.4% |
| Financial income | 75/76B | €55 | €12 | -€43 | -78.1% |
| Recurring financial income | 75 | €55 | €12 | -€43 | -78.1% |
| Financial charges | 65/66B | €10,447 | €5,546 | -€4,901 | -46.9% |
| Recurring financial charges | 65 | €10,447 | €5,546 | -€4,901 | -46.9% |
| Profit (loss) for the period before taxes | 9903 | €32,423 | €91,389 | +€58,966 | +181.9% |
| Income taxes | 67/77 | - | €404 | +€404 | |
| Profit (loss) for the period | 9904 | €32,423 | €90,985 | +€58,562 | +180.6% |
| Profit (loss) for the period to be appropriated | 9905 | €32,423 | €90,985 | +€58,562 | +180.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.