INSTITUTIONAL GLOBAL SOLUTIONS HOLDING: what changed
What changed
INSTITUTIONAL GLOBAL SOLUTIONS HOLDING
filed annual accounts (NBB)
Net result for the year
-€16,626
2024 · -€2,108-€14,518
Equity
-€230,171
2024 · -€213,545-€16,626
Cash
€10
2024 · €10
Balance sheet total
€37,082
2024 · €53,372-€16,290
Largest movements
Assets
- Tangible fixed assets -€31,340
down €31,340 (-72.5%), from €43,239 to €11,899
- Receivables within one year +€15,050
up €15,050 (+156%), from €9,673 to €24,723
Equity and liabilities
- Profit (loss) carried forward -€16,626
down €16,626 (-1.4%), from -€1.2m to -€1.2m
- Trade debts +€936
up €936 (+68.1%), from €1,374 to €2,310
- Accrued charges and deferred income -€599
no longer reported in 2025 (was €599)
Income statement
- Financial charges +€610
up €610 (+222%), from €274 to €884
- Gross operating margin +€444
up €444 (+30.7%), from -€1,446 to -€1,002
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€2,108
Gross operating margin
+€444
Other operating charges
-€12
Other operating items
-€14,340
Financial charges
-€610
Result 2025
-€16,626
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€31,338
Investment
+€31,340
Financing
-€2
Cash 2024
€10
From operations (derived)
-€31,338
Net result for the year
-€16,626
Receivables within one year
-€15,050
Trade debts
+€936
Accrued charges and deferred income
-€599
Investment (derived)
+€31,340
Investment in fixed assets (net)
+€31,340
Financing
-€2
Short-term financial debts
-€2
Cash 2025
€10
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €53,372 | €37,082 | -€16,290 | -30.5% |
| Fixed assets | 21/28 | €43,362 | €12,022 | -€31,340 | -72.3% |
| Tangible fixed assets | 22/27 | €43,239 | €11,899 | -€31,340 | -72.5% |
| Furniture and vehicles | 24 | €43,239 | €11,899 | -€31,340 | -72.5% |
| Financial fixed assets | 28 | €123 | €123 | = | 0.0% |
| Current assets | 29/58 | €10,011 | €25,061 | +€15,050 | +150% |
| Amounts receivable within one year | 40/41 | €9,673 | €24,723 | +€15,050 | +156% |
| Other amounts receivable | 41 | €9,673 | €24,723 | +€15,050 | +156% |
| Current investments | 50/53 | €327 | €327 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10 | €10 | = | 0.0% |
| Total equity and liabilities | 10/49 | €53,372 | €37,082 | -€16,290 | -30.5% |
| Equity | 10/15 | -€213,545 | -€230,171 | -€16,626 | -7.8% |
| Contributions | 10/11 | €667,500 | €667,500 | = | 0.0% |
| Capital | 10 | €667,500 | €667,500 | = | 0.0% |
| Issued capital | 100 | €667,500 | €667,500 | = | 0.0% |
| Reserves | 13 | €313,604 | €313,604 | = | 0.0% |
| Non-distributable reserves | 130/1 | €33,173 | €33,173 | = | 0.0% |
| Legal reserve | 130 | €33,173 | €33,173 | = | 0.0% |
| Distributable reserves | 133 | €280,431 | €280,431 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,194,649 | -€1,211,275 | -€16,626 | -1.4% |
| Amounts payable | 17/49 | €266,917 | €267,253 | +€336 | +0.1% |
| Amounts payable within one year | 42/48 | €266,318 | €267,253 | +€935 | +0.4% |
| Financial debts | 43 | €4,870 | €4,869 | -€2 | 0.0% |
| Credit institutions | 430/8 | €4,870 | €4,869 | -€2 | 0.0% |
| Trade debts | 44 | €1,374 | €2,310 | +€936 | +68.1% |
| Suppliers | 440/4 | €1,374 | €2,310 | +€936 | +68.1% |
| Other amounts payable | 47/48 | €260,074 | €260,074 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €599 | - | -€599 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | - | €14,340 | +€14,340 | |
| Gross operating margin | 9900 | -€1,446 | -€1,002 | +€444 | +30.7% |
| Operating profit (loss) | 9901 | -€1,833 | -€15,742 | -€13,908 | -759% |
| Financial charges | 65/66B | €274 | €884 | +€610 | +222% |
| Recurring financial charges | 65 | €274 | €884 | +€610 | +222% |
| Profit (loss) for the period before taxes | 9903 | -€2,108 | -€16,626 | -€14,518 | -689% |
| Profit (loss) for the period | 9904 | -€2,108 | -€16,626 | -€14,518 | -689% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,108 | -€16,626 | -€14,518 | -689% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.