IKANDA: 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.
IKANDA
Largest movements
- Receivables within one year +€139,559
up €139,559 (+373%), from €37,436 to €176,995
of which Trade receivables: +€147,936
- Cash +€15,652
up €15,652 (+29.1%), from €53,820 to €69,472
mainly Net result for the year (+€123,694) and Trade debts (+€24,247)
- Tangible fixed assets -€7,048
down €7,048 (-7.8%), from €90,396 to €83,348
of which Land and buildings: -€4,374
- Profit (loss) carried forward +€123,694
up €123,694 (+75.6%), from -€163,707 to -€40,013
- Debts after one year -€27,686
down €27,686 (-12.7%), from €218,854 to €191,168
- Trade debts +€24,247
up €24,247 (+76.7%), from €31,594 to €55,842
- Tax, wage and social debts +€20,533
up €20,533 (+116%), from €17,749 to €38,282
of which Taxes: +€12,820
- Other debts +€13,149
up €13,149 (+44.0%), from €29,912 to €43,061
- Gross operating margin +€157,429
up €157,429 (+223%), from €70,455 to €227,884
- Staff costs -€33,539
down €33,539 (-29.0%), from €115,572 to €82,033
- Taxes -€2,344
down €2,344 (-89.4%), from €2,623 to €279
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 | €449,590 | €603,789 | +€154,199 | +34.3% |
| Fixed assets | 21/28 | €357,396 | €350,348 | -€7,048 | -2.0% |
| Tangible fixed assets | 22/27 | €90,396 | €83,348 | -€7,048 | -7.8% |
| Land and buildings | 22 | €73,174 | €68,800 | -€4,374 | -6.0% |
| Plant, machinery and equipment | 23 | €2,634 | €2,071 | -€562 | -21.4% |
| Furniture and vehicles | 24 | €14,588 | €12,476 | -€2,112 | -14.5% |
| Financial fixed assets | 28 | €267,000 | €267,000 | = | 0.0% |
| Current assets | 29/58 | €92,193 | €253,440 | +€161,247 | +175% |
| Amounts receivable within one year | 40/41 | €37,436 | €176,995 | +€139,559 | +373% |
| Trade receivables | 40 | €29,059 | €176,995 | +€147,936 | +509% |
| Other amounts receivable | 41 | €8,377 | - | -€8,377 | |
| Cash at bank and in hand | 54/58 | €53,820 | €69,472 | +€15,652 | +29.1% |
| Deferred charges and accrued income | 490/1 | €938 | €6,974 | +€6,036 | +644% |
| Total equity and liabilities | 10/49 | €449,590 | €603,789 | +€154,199 | +34.3% |
| Equity | 10/15 | €124,056 | €247,750 | +€123,694 | +99.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €277,763 | €277,763 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €275,903 | €277,763 | +€1,860 | +0.7% |
| Profit (loss) carried forward | 14 | -€163,707 | -€40,013 | +€123,694 | +75.6% |
| Amounts payable | 17/49 | €325,534 | €356,038 | +€30,505 | +9.4% |
| Amounts payable after more than one year | 17 | €218,854 | €191,168 | -€27,686 | -12.7% |
| Financial debts | 170/4 | €218,854 | €191,168 | -€27,686 | -12.7% |
| Amounts payable within one year | 42/48 | €106,680 | €164,871 | +€58,191 | +54.5% |
| Current portion of amounts payable after more than one year | 42 | €27,424 | €27,686 | +€262 | +1.0% |
| Trade debts | 44 | €31,594 | €55,842 | +€24,247 | +76.7% |
| Suppliers | 440/4 | €31,594 | €55,842 | +€24,247 | +76.7% |
| Taxes, remuneration and social security | 45 | €17,749 | €38,282 | +€20,533 | +116% |
| Taxes | 450/3 | €8,132 | €20,952 | +€12,820 | +158% |
| Remuneration and social security | 454/9 | €9,617 | €17,330 | +€7,713 | +80.2% |
| Other amounts payable | 47/48 | €29,912 | €43,061 | +€13,149 | +44.0% |
| Remuneration, social security and pensions | 62 | €115,572 | €82,033 | -€33,539 | -29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,610 | €9,910 | +€300 | +3.1% |
| Other operating charges | 640/8 | €2,050 | €866 | -€1,184 | -57.8% |
| Gross operating margin | 9900 | €70,455 | €227,884 | +€157,429 | +223% |
| Operating profit (loss) | 9901 | -€56,777 | €135,075 | +€191,852 | |
| Financial income | 75/76B | €18 | €121 | +€103 | +574% |
| Recurring financial income | 75 | €18 | €121 | +€103 | +574% |
| Financial charges | 65/66B | €13,310 | €11,223 | -€2,087 | -15.7% |
| Recurring financial charges | 65 | €13,310 | €11,223 | -€2,087 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | -€70,069 | €123,973 | +€194,042 | |
| Income taxes | 67/77 | €2,623 | €279 | -€2,344 | -89.4% |
| Profit (loss) for the period | 9904 | -€72,692 | €123,694 | +€196,386 | |
| Profit (loss) for the period to be appropriated | 9905 | -€72,692 | €123,694 | +€196,386 |
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 23 October 2026 via checked.be.