Ikado: 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.
Ikado
Largest movements
- Cash -€24,574
down €24,574 (-61.9%), from €39,727 to €15,153
mainly Contributions, distributions and other (-€46,220) and Investment in fixed assets (net) (-€7,291)
- Tangible fixed assets -€5,985
down €5,985 (-13.0%), from €46,088 to €40,102
of which Furniture and vehicles: -€4,600
- Reserves -€46,220
down €46,220 (-96.1%), from €48,075 to €1,855
of which Distributable reserves: -€46,220
- Profit (loss) carried forward +€9,113
up €9,113 (+19.8%), from €46,036 to €55,150
- Trade debts +€8,091
up €8,091 (+608.4%), from €1,330 to €9,421
- Other debts -€4,454
no longer reported in 2025 (was €4,454)
- Tax, wage and social debts +€3,269
up €3,269 (+62.3%), from €5,248 to €8,517
- Gross operating margin -€33,979
down €33,979 (-59.0%), from €57,609 to €23,630
- Purchases and services +€21,169
up €21,169 (+14.3%), from €147,545 to €168,713
- Turnover -€12,810
down €12,810 (-6.2%), from €205,153 to €192,343
- Depreciation +€2,382
up €2,382 (+21.9%), from €10,894 to €13,277
- Write-downs -€2,126
new in 2025: -€2,126
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 | €123,693 | €93,492 | -€30,201 | -24.4% |
| Fixed assets | 21/28 | €46,088 | €40,102 | -€5,985 | -13.0% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €46,088 | €40,102 | -€5,985 | -13.0% |
| Plant, machinery and equipment | 23 | €6,445 | €5,061 | -€1,385 | -21.5% |
| Furniture and vehicles | 24 | €39,642 | €35,042 | -€4,600 | -11.6% |
| Current assets | 29/58 | €77,605 | €53,390 | -€24,215 | -31.2% |
| Amounts receivable within one year | 40/41 | €37,878 | €38,237 | +€359 | +0.9% |
| Trade receivables | 40 | €37,878 | €37,316 | -€563 | -1.5% |
| Other amounts receivable | 41 | - | €921 | +€921 | |
| Cash at bank and in hand | 54/58 | €39,727 | €15,153 | -€24,574 | -61.9% |
| Total equity and liabilities | 10/49 | €123,693 | €93,492 | -€30,201 | -24.4% |
| Equity | 10/15 | €112,661 | €75,555 | -€37,107 | -32.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €48,075 | €1,855 | -€46,220 | -96.1% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €46,220 | - | -€46,220 | |
| Profit (loss) carried forward | 14 | €46,036 | €55,150 | +€9,113 | +19.8% |
| Amounts payable | 17/49 | €11,031 | €17,938 | +€6,906 | +62.6% |
| Amounts payable within one year | 42/48 | €11,031 | €17,938 | +€6,906 | +62.6% |
| Trade debts | 44 | €1,330 | €9,421 | +€8,091 | +608.4% |
| Suppliers | 440/4 | €1,330 | €9,421 | +€8,091 | +608.4% |
| Taxes, remuneration and social security | 45 | €5,248 | €8,517 | +€3,269 | +62.3% |
| Taxes | 450/3 | €5,248 | €8,517 | +€3,269 | +62.3% |
| Other amounts payable | 47/48 | €4,454 | - | -€4,454 | |
| Turnover | 70 | €205,153 | €192,343 | -€12,810 | -6.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €147,545 | €168,713 | +€21,169 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,894 | €13,277 | +€2,382 | +21.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€2,126 | -€2,126 | |
| Other operating charges | 640/8 | €1,731 | €3,223 | +€1,492 | +86.2% |
| Gross operating margin | 9900 | €57,609 | €23,630 | -€33,979 | -59.0% |
| Operating profit (loss) | 9901 | €44,983 | €9,256 | -€35,727 | -79.4% |
| Financial income | 75/76B | - | €350 | +€350 | |
| Recurring financial income | 75 | - | €350 | +€350 | |
| Financial charges | 65/66B | €183 | - | -€183 | |
| Recurring financial charges | 65 | €183 | - | -€183 | |
| Profit (loss) for the period before taxes | 9903 | €44,801 | €9,607 | -€35,194 | -78.6% |
| Income taxes | 67/77 | €196 | €493 | +€297 | +151.8% |
| Profit (loss) for the period | 9904 | €44,605 | €9,113 | -€35,491 | -79.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,605 | €9,113 | -€35,491 | -79.6% |
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 3 October 2026 via checked.be.