IKO: 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.
IKO
Largest movements
- Tangible fixed assets -€14,190
down €14,190 (-31.6%), from €44,941 to €30,751
- Receivables within one year -€13,460
down €13,460 (-24.9%), from €53,957 to €40,497
of which Trade receivables: -€13,460
- Cash +€6,322
up €6,322 (+4,032%), from €157 to €6,479
mainly Net result for the year (+€22,620) and Depreciation (+€14,190)
- Reserves +€22,620
up €22,620 (+88.9%), from €25,450 to €48,070
- Current portion of long-term debt -€19,243
down €19,243 (-57.0%), from €33,744 to €14,502
- Debts after one year -€14,502
down €14,502 (-48.7%), from €29,765 to €15,263
- Other debts -€3,680
down €3,680 (-3.5%), from €105,834 to €102,154
- Trade debts -€2,409
down €2,409 (-39.4%), from €6,109 to €3,700
- Gross operating margin +€5,126
up €5,126 (+14.3%), from €35,871 to €40,997
- Financial charges -€1,068
down €1,068 (-38.2%), from €2,799 to €1,731
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 | €228,165 | €208,785 | -€19,380 | -8.5% |
| Fixed assets | 21/28 | €169,941 | €155,751 | -€14,190 | -8.3% |
| Tangible fixed assets | 22/27 | €44,941 | €30,751 | -€14,190 | -31.6% |
| Leasing and similar rights | 25 | €44,941 | €30,751 | -€14,190 | -31.6% |
| Financial fixed assets | 28 | €125,000 | €125,000 | = | 0.0% |
| Current assets | 29/58 | €58,224 | €53,034 | -€5,190 | -8.9% |
| Amounts receivable within one year | 40/41 | €53,957 | €40,497 | -€13,460 | -24.9% |
| Trade receivables | 40 | €53,840 | €40,380 | -€13,460 | -25.0% |
| Other amounts receivable | 41 | €117 | €117 | -€0 | -0.3% |
| Cash at bank and in hand | 54/58 | €157 | €6,479 | +€6,322 | +4,032% |
| Deferred charges and accrued income | 490/1 | €4,110 | €6,058 | +€1,948 | +47.4% |
| Total equity and liabilities | 10/49 | €228,165 | €208,785 | -€19,380 | -8.5% |
| Equity | 10/15 | €44,050 | €66,670 | +€22,620 | +51.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €25,450 | €48,070 | +€22,620 | +88.9% |
| Distributable reserves | 133 | €25,450 | €48,070 | +€22,620 | +88.9% |
| Amounts payable | 17/49 | €184,115 | €142,115 | -€42,000 | -22.8% |
| Amounts payable after more than one year | 17 | €29,765 | €15,263 | -€14,502 | -48.7% |
| Financial debts | 170/4 | €29,765 | €15,263 | -€14,502 | -48.7% |
| Amounts payable within one year | 42/48 | €154,349 | €126,851 | -€27,498 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €33,744 | €14,502 | -€19,243 | -57.0% |
| Trade debts | 44 | €6,109 | €3,700 | -€2,409 | -39.4% |
| Suppliers | 440/4 | €6,109 | €3,700 | -€2,409 | -39.4% |
| Taxes, remuneration and social security | 45 | €8,662 | €6,496 | -€2,166 | -25.0% |
| Taxes | 450/3 | €8,662 | €6,496 | -€2,166 | -25.0% |
| Other amounts payable | 47/48 | €105,834 | €102,154 | -€3,680 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,190 | €14,190 | = | 0.0% |
| Other operating charges | 640/8 | €2,111 | €2,234 | +€123 | +5.8% |
| Gross operating margin | 9900 | €35,871 | €40,997 | +€5,126 | +14.3% |
| Operating profit (loss) | 9901 | €19,570 | €24,573 | +€5,003 | +25.6% |
| Financial charges | 65/66B | €2,799 | €1,731 | -€1,068 | -38.2% |
| Recurring financial charges | 65 | €2,799 | €1,731 | -€1,068 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | €16,771 | €22,843 | +€6,072 | +36.2% |
| Income taxes | 67/77 | €303 | €222 | -€81 | -26.6% |
| Profit (loss) for the period | 9904 | €16,468 | €22,620 | +€6,152 | +37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €16,468 | €22,620 | +€6,152 | +37.4% |
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.