IoTCo: 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.
IoTCo
Largest movements
- Receivables within one year -€39,599
down €39,599 (-21.0%), from €188,680 to €149,081
of which Trade receivables: -€37,739
- Intangible fixed assets +€17,887
up €17,887 (+23.6%), from €75,925 to €93,812
- Financial fixed assets -€17,090
down €17,090 (-100.0%), from €17,090 to €0
- Stocks and contracts -€13,846
down €13,846 (-8.7%), from €158,621 to €144,775
- Cash +€7,263
up €7,263 (+17.3%), from €42,024 to €49,286
mainly Tax, wage and social debts (+€42,572) and Receivables within one year (+€39,599)
- Profit (loss) carried forward -€79,697
down €79,697 (-71.1%), from -€112,041 to -€191,738
- Tax, wage and social debts +€42,572
up €42,572 (+347.6%), from €12,246 to €54,818
of which Taxes: +€40,745
- Trade debts -€9,426
down €9,426 (-8.0%), from €117,388 to €107,962
- Gross operating margin -€20,817
down €20,817 (-29.5%), from €70,489 to €49,672
- Write-downs +€9,759
new in 2025: €9,759
- Depreciation +€9,602
up €9,602 (+49.7%), from €19,315 to €28,916
- Financial income +€1,376
up €1,376 (+159.0%), from €865 to €2,241
- Staff costs +€1,146
up €1,146 (+1.3%), from €87,375 to €88,521
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.
Cash bridge derived
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 | €497,344 | €451,012 | -€46,331 | -9.3% |
| Fixed assets | 21/28 | €101,431 | €98,894 | -€2,537 | -2.5% |
| Intangible fixed assets | 21 | €75,925 | €93,812 | +€17,887 | +23.6% |
| Tangible fixed assets | 22/27 | €8,415 | €5,082 | -€3,333 | -39.6% |
| Furniture and vehicles | 24 | €8,415 | €5,082 | -€3,333 | -39.6% |
| Financial fixed assets | 28 | €17,090 | €0 | -€17,090 | -100.0% |
| Current assets | 29/58 | €395,913 | €352,119 | -€43,794 | -11.1% |
| Stocks and contracts in progress | 3 | €158,621 | €144,775 | -€13,846 | -8.7% |
| Stocks | 30/36 | €158,621 | €144,775 | -€13,846 | -8.7% |
| Amounts receivable within one year | 40/41 | €188,680 | €149,081 | -€39,599 | -21.0% |
| Trade receivables | 40 | €186,820 | €149,081 | -€37,739 | -20.2% |
| Other amounts receivable | 41 | €1,860 | €0 | -€1,860 | -100.0% |
| Cash at bank and in hand | 54/58 | €42,024 | €49,286 | +€7,263 | +17.3% |
| Deferred charges and accrued income | 490/1 | €6,588 | €8,976 | +€2,388 | +36.3% |
| Total equity and liabilities | 10/49 | €497,344 | €451,012 | -€46,331 | -9.3% |
| Equity | 10/15 | €349,971 | €270,274 | -€79,697 | -22.8% |
| Contributions | 10/11 | €462,000 | €462,000 | = | 0.0% |
| Capital | 10 | €86,800 | €86,800 | = | 0.0% |
| Issued capital | 100 | €86,800 | €86,800 | = | 0.0% |
| Contributions outside capital | 11 | €375,200 | €375,200 | = | 0.0% |
| Share premium | 1100/10 | €375,200 | €375,200 | = | 0.0% |
| Reserves | 13 | €12 | €12 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12 | €12 | = | 0.0% |
| Legal reserve | 130 | €12 | €12 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€112,041 | -€191,738 | -€79,697 | -71.1% |
| Amounts payable | 17/49 | €147,372 | €180,738 | +€33,366 | +22.6% |
| Amounts payable within one year | 42/48 | €147,152 | €180,298 | +€33,146 | +22.5% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €117,388 | €107,962 | -€9,426 | -8.0% |
| Suppliers | 440/4 | €117,388 | €107,962 | -€9,426 | -8.0% |
| Taxes, remuneration and social security | 45 | €12,246 | €54,818 | +€42,572 | +347.6% |
| Taxes | 450/3 | €236 | €40,981 | +€40,745 | +17266.2% |
| Remuneration and social security | 454/9 | €12,011 | €13,838 | +€1,827 | +15.2% |
| Other amounts payable | 47/48 | €17,517 | €17,517 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €220 | €440 | +€220 | +100.0% |
| Remuneration, social security and pensions | 62 | €87,375 | €88,521 | +€1,146 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,315 | €28,916 | +€9,602 | +49.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €9,759 | +€9,759 | |
| Other operating charges | 640/8 | €714 | €1,225 | +€512 | +71.7% |
| Gross operating margin | 9900 | €70,489 | €49,672 | -€20,817 | -29.5% |
| Operating profit (loss) | 9901 | -€36,915 | -€78,750 | -€41,835 | -113.3% |
| Financial income | 75/76B | €865 | €2,241 | +€1,376 | +159.0% |
| Recurring financial income | 75 | €865 | €2,241 | +€1,376 | +159.0% |
| Financial charges | 65/66B | €2,496 | €3,012 | +€516 | +20.7% |
| Recurring financial charges | 65 | €2,496 | €3,012 | +€516 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | -€38,546 | -€79,521 | -€40,975 | -106.3% |
| Income taxes | 67/77 | €181 | €176 | -€5 | -2.5% |
| Profit (loss) for the period | 9904 | -€38,726 | -€79,697 | -€40,971 | -105.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,726 | -€79,697 | -€40,971 | -105.8% |
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 9 October 2026 via checked.be.