IORGU: 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.
IORGU
Largest movements
- Cash +€132,966
up €132,966 (+62.4%), from €212,955 to €345,921
- Formation expenses -€19,167
no longer reported in 2025 (was €19,167)
- Intangible fixed assets +€15,625
new in 2025: €15,625
- Receivables within one year -€12,585
down €12,585 (-47.8%), from €26,330 to €13,745
of which Trade receivables: -€7,963
- Reserves +€50,000
up €50,000 (+2688.2%), from €1,860 to €51,860
of which Distributable reserves: +€50,000
- Tax, wage and social debts +€38,389
up €38,389 (+239.9%), from €16,000 to €54,389
- Profit (loss) carried forward +€38,246
up €38,246 (+27.7%), from €137,848 to €176,094
- Other debts -€15,627
no longer reported in 2025 (was €15,627)
- Advances received +€11,446
new in 2025: €11,446
- Turnover -€951,232
no longer reported in 2025 (was €951,232)
- Purchases and services -€869,979
no longer reported in 2025 (was €869,979)
- Gross operating margin +€97,249
up €97,249 (+119.7%), from €81,253 to €178,502
- Staff costs +€32,960
new in 2025: €32,960
- Taxes +€21,609
up €21,609 (+134.6%), from €16,055 to €37,664
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €268,952 | €386,530 | +€117,578 | +43.7% |
| Formation expenses | 20 | €19,167 | - | -€19,167 | |
| Fixed assets | 21/28 | €10,092 | €25,993 | +€15,901 | +157.6% |
| Intangible fixed assets | 21 | - | €15,625 | +€15,625 | |
| Tangible fixed assets | 22/27 | €8,792 | €8,748 | -€44 | -0.5% |
| Land and buildings | 22 | €2,869 | €2,789 | -€80 | -2.8% |
| Plant, machinery and equipment | 23 | €2,200 | €4,263 | +€2,063 | +93.8% |
| Furniture and vehicles | 24 | €3,723 | €1,696 | -€2,027 | -54.4% |
| Financial fixed assets | 28 | €1,300 | €1,620 | +€320 | +24.6% |
| Current assets | 29/58 | €239,693 | €360,537 | +€120,844 | +50.4% |
| Amounts receivable within one year | 40/41 | €26,330 | €13,745 | -€12,585 | -47.8% |
| Trade receivables | 40 | €7,963 | - | -€7,963 | |
| Other amounts receivable | 41 | €18,367 | €13,745 | -€4,622 | -25.2% |
| Cash at bank and in hand | 54/58 | €212,955 | €345,921 | +€132,966 | +62.4% |
| Deferred charges and accrued income | 490/1 | €408 | €871 | +€463 | +113.5% |
| Total equity and liabilities | 10/49 | €268,952 | €386,530 | +€117,578 | +43.7% |
| Equity | 10/15 | €145,908 | €234,154 | +€88,246 | +60.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €51,860 | +€50,000 | +2688.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €50,000 | +€50,000 | |
| Profit (loss) carried forward | 14 | €137,848 | €176,094 | +€38,246 | +27.7% |
| Amounts payable | 17/49 | €123,044 | €152,376 | +€29,332 | +23.8% |
| Amounts payable within one year | 42/48 | €123,044 | €152,376 | +€29,332 | +23.8% |
| Trade debts | 44 | €91,417 | €86,541 | -€4,876 | -5.3% |
| Suppliers | 440/4 | €91,417 | €86,541 | -€4,876 | -5.3% |
| Advances received on contracts in progress | 46 | - | €11,446 | +€11,446 | |
| Taxes, remuneration and social security | 45 | €16,000 | €54,389 | +€38,389 | +239.9% |
| Taxes | 450/3 | €16,000 | €54,389 | +€38,389 | +239.9% |
| Other amounts payable | 47/48 | €15,627 | - | -€15,627 | |
| Turnover | 70 | €951,232 | - | -€951,232 | |
| Goods, raw materials, services and sundry goods | 60/61 | €869,979 | - | -€869,979 | |
| Remuneration, social security and pensions | 62 | - | €32,960 | +€32,960 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,012 | €9,237 | +€4,225 | +84.3% |
| Other operating charges | 640/8 | €1,023 | €1,286 | +€263 | +25.7% |
| Non-recurring operating charges | 66A | - | €1,241 | +€1,241 | |
| Gross operating margin | 9900 | €81,253 | €178,502 | +€97,249 | +119.7% |
| Operating profit (loss) | 9901 | €75,218 | €133,778 | +€58,560 | +77.9% |
| Financial income | 75/76B | €598 | - | -€598 | |
| Recurring financial income | 75 | €598 | - | -€598 | |
| Financial charges | 65/66B | €7,973 | €7,868 | -€105 | -1.3% |
| Recurring financial charges | 65 | €6,881 | €7,868 | +€987 | +14.3% |
| Non-recurring financial charges | 66B | €1,092 | - | -€1,092 | |
| Profit (loss) for the period before taxes | 9903 | €67,843 | €125,910 | +€58,067 | +85.6% |
| Income taxes | 67/77 | €16,055 | €37,664 | +€21,609 | +134.6% |
| Profit (loss) for the period | 9904 | €51,788 | €88,246 | +€36,458 | +70.4% |
| Profit (loss) for the period to be appropriated | 9905 | €51,788 | €88,246 | +€36,458 | +70.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 October 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.