IKO NV: 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.
What changed
IKO NV
NACE 43.410, Roofing work
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€123,423
2024 · €746,839-€623,416
Equity
€42.5m
2024 · €42.4m+€123,423
Cash
€2.3m
2024 · €3.7m-€1.3m
Balance sheet total
€56.5m
2024 · €60.3m-€3.8m
Largest movements
Assets
- Receivables within one year -€1.8m
down €1.8m (-7.0%), from €25.5m to €23.7m
of which Trade receivables: -€3.0m
- Cash -€1.3m
down €1.3m (-36.2%), from €3.7m to €2.3m
mainly Trade debts (-€2.8m) and Investment in fixed assets (net) (-€1.2m)
Equity and liabilities
- Trade debts -€2.8m
down €2.8m (-21.6%), from €13.0m to €10.2m
- Tax, wage and social debts -€953,822
down €953,822 (-25.6%), from €3.7m to €2.8m
of which Taxes: -€1.1m
Income statement
- Turnover -€10.5m
down €10.5m (-7.3%), from €143.5m to €133.0m
- Goods and materials -€6.9m
down €6.9m (-6.8%), from €102.3m to €95.3m
of which Purchases: -€7.9m
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.
Result 2024
€746,839
Turnover
-€10.5m
Other operating income
-€360,755
Goods and materials
+€6.9m
Services and other goods
+€1.0m
Staff costs
+€270,256
Depreciation
+€72,807
Write-downs
+€19,324
Other operating charges
+€41,915
Other operating items
+€842,784
Financial income
-€74,863
Financial charges
+€556,584
Taxes
+€529,656
Result 2025
€123,423
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€46,833
Investment
-€1.4m
Financing
€0
Cash 2024
€3.7m
From operations (derived)
+€46,833
Net result for the year
+€123,423
Depreciation
+€1.5m
Stocks and contracts
+€578,066
Receivables within one year
+€1.8m
Provisions
-€35,304
Trade debts
-€2.8m
Tax, wage and social debts
-€953,822
Accrued charges and deferred income
-€152,313
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.2m
Current investments
-€175,000
Cash 2025
€2.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,312,035 | €56,482,835 | -€3.8m | -6.3% |
| Fixed assets | 21/28 | €14,657,413 | €14,350,132 | -€307,281 | -2.1% |
| Intangible fixed assets | 21 | €39,865 | €12,598 | -€27,267 | -68.4% |
| Tangible fixed assets | 22/27 | €11,750,583 | €11,470,630 | -€279,953 | -2.4% |
| Land and buildings | 22 | €5,068,969 | €5,017,319 | -€51,650 | -1.0% |
| Plant, machinery and equipment | 23 | €5,784,223 | €4,973,888 | -€810,335 | -14.0% |
| Furniture and vehicles | 24 | €364,947 | €347,844 | -€17,103 | -4.7% |
| Assets under construction and advance payments | 27 | €532,445 | €1,131,580 | +€599,135 | +113% |
| Financial fixed assets | 28 | €2,866,965 | €2,866,904 | -€62 | 0.0% |
| Affiliated companies | 280/1 | €2,830,249 | €2,830,249 | = | 0.0% |
| Participating interests | 280 | €2,830,249 | €2,830,249 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €4,000 | €4,000 | = | 0.0% |
| Participating interests | 282 | €4,000 | €4,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €32,716 | €32,655 | -€62 | -0.2% |
| Shares | 284 | €23,691 | €23,630 | -€62 | -0.3% |
| Amounts receivable and cash guarantees | 285/8 | €9,025 | €9,025 | = | 0.0% |
| Current assets | 29/58 | €45,654,621 | €42,132,703 | -€3.5m | -7.7% |
| Stocks and contracts in progress | 3 | €14,676,535 | €14,098,469 | -€578,066 | -3.9% |
| Stocks | 30/36 | €14,676,535 | €14,098,469 | -€578,066 | -3.9% |
| Raw materials and consumables | 30/31 | €6,820,189 | €5,993,843 | -€826,346 | -12.1% |
| Finished goods | 33 | €5,582,250 | €5,458,230 | -€124,019 | -2.2% |
| Goods purchased for resale | 34 | €2,274,097 | €2,646,396 | +€372,299 | +16.4% |
| Amounts receivable within one year | 40/41 | €25,475,887 | €23,689,529 | -€1.8m | -7.0% |
| Trade receivables | 40 | €15,508,586 | €12,515,106 | -€3.0m | -19.3% |
| Other amounts receivable | 41 | €9,967,301 | €11,174,423 | +€1.2m | +12.1% |
| Current investments | 50/53 | €1,825,000 | €2,000,000 | +€175,000 | +9.6% |
| Other investments | 51/53 | €1,825,000 | €2,000,000 | +€175,000 | +9.6% |
| Cash at bank and in hand | 54/58 | €3,677,199 | €2,344,705 | -€1.3m | -36.2% |
| Total equity and liabilities | 10/49 | €60,312,035 | €56,482,835 | -€3.8m | -6.3% |
| Equity | 10/15 | €42,412,600 | €42,536,023 | +€123,423 | +0.3% |
| Contributions | 10/11 | €5,100,000 | €5,100,000 | = | 0.0% |
| Capital | 10 | €5,100,000 | €5,100,000 | = | 0.0% |
| Issued capital | 100 | €5,100,000 | €5,100,000 | = | 0.0% |
| Reserves | 13 | €37,312,600 | €37,436,023 | +€123,423 | +0.3% |
| Non-distributable reserves | 130/1 | €545,349 | €545,349 | = | 0.0% |
| Legal reserve | 130 | €510,000 | €510,000 | = | 0.0% |
| Other | 1319 | €35,349 | €35,349 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,792,274 | €2,686,362 | -€105,912 | -3.8% |
| Distributable reserves | 133 | €33,974,977 | €34,204,312 | +€229,334 | +0.7% |
| Provisions and deferred taxes | 16 | €582,296 | €546,992 | -€35,304 | -6.1% |
| Deferred taxes | 168 | €582,296 | €546,992 | -€35,304 | -6.1% |
| Amounts payable | 17/49 | €17,317,139 | €13,399,821 | -€3.9m | -22.6% |
| Amounts payable within one year | 42/48 | €16,716,208 | €12,951,202 | -€3.8m | -22.5% |
| Trade debts | 44 | €12,995,373 | €10,184,189 | -€2.8m | -21.6% |
| Suppliers | 440/4 | €12,995,373 | €10,184,189 | -€2.8m | -21.6% |
| Taxes, remuneration and social security | 45 | €3,720,835 | €2,767,013 | -€953,822 | -25.6% |
| Taxes | 450/3 | €1,661,325 | €607,763 | -€1.1m | -63.4% |
| Remuneration and social security | 454/9 | €2,059,509 | €2,159,250 | +€99,741 | +4.8% |
| Accrued charges and deferred income | 492/3 | €600,931 | €448,618 | -€152,313 | -25.3% |
| Operating income | 70/76A | €144,937,151 | €134,368,681 | -€10.6m | -7.3% |
| Turnover | 70 | €143,459,588 | €132,974,987 | -€10.5m | -7.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €119,462 | €384,485 | +€265,023 | +222% |
| Other operating income | 74 | €1,358,101 | €997,345 | -€360,755 | -26.6% |
| Non-recurring operating income | 76A | €0 | €11,863 | +€11,863 | |
| Operating charges | 60/66A | €141,781,862 | €132,848,185 | -€8.9m | -6.3% |
| Goods for resale, raw materials and consumables | 60 | €102,254,994 | €95,314,234 | -€6.9m | -6.8% |
| Purchases | 600/8 | €102,351,937 | €94,453,936 | -€7.9m | -7.7% |
| Change in stocks: decrease (increase) | 609 | -€96,943 | €860,297 | +€957,240 | |
| Services and other goods | 61 | €22,918,805 | €21,896,087 | -€1.0m | -4.5% |
| Remuneration, social security and pensions | 62 | €14,047,074 | €13,776,818 | -€270,256 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,584,415 | €1,511,609 | -€72,807 | -4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €60,738 | €41,414 | -€19,324 | -31.8% |
| Other operating charges | 640/8 | €349,938 | €308,023 | -€41,915 | -12.0% |
| Non-recurring operating charges | 66A | €565,898 | - | -€565,898 | |
| Operating profit (loss) | 9901 | €3,155,289 | €1,520,496 | -€1.6m | -51.8% |
| Financial income | 75/76B | €273,176 | €198,312 | -€74,863 | -27.4% |
| Recurring financial income | 75 | €273,176 | €198,312 | -€74,863 | -27.4% |
| Income from current assets | 751 | €267,306 | €164,916 | -€102,389 | -38.3% |
| Other financial income | 752/9 | €5,870 | €33,396 | +€27,526 | +469% |
| Financial charges | 65/66B | €2,272,494 | €1,715,910 | -€556,584 | -24.5% |
| Recurring financial charges | 65 | €2,272,494 | €1,715,849 | -€556,645 | -24.5% |
| Other financial charges | 652/9 | €2,272,494 | €1,715,849 | -€556,645 | -24.5% |
| Non-recurring financial charges | 66B | - | €61 | +€61 | |
| Profit (loss) for the period before taxes | 9903 | €1,155,971 | €2,899 | -€1.2m | -99.7% |
| Transfer from deferred taxes | 780 | €35,304 | €35,304 | = | 0.0% |
| Income taxes | 67/77 | €444,436 | -€85,220 | -€529,656 | |
| Taxes | 670/3 | €444,436 | €163,736 | -€280,700 | -63.2% |
| Tax adjustments and reversals of tax provisions | 77 | - | €248,956 | +€248,956 | |
| Profit (loss) for the period | 9904 | €746,839 | €123,423 | -€623,416 | -83.5% |
| Transfer from tax-exempt reserves | 789 | €105,912 | €105,912 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €852,751 | €229,334 | -€623,416 | -73.1% |
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 15 October 2026 via checked.be.