IR PROJECTS: what changed
What changed
IR PROJECTS
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
€36,620
2024 · €24,130+€12,489
Equity
€193,432
2024 · €173,056+€20,376
Cash
€44,370
2024 · €6,225+€38,146
Balance sheet total
€711,873
2024 · €1.1m-€430,971
Largest movements
Assets
- Receivables within one year -€379,738
down €379,738 (-90.9%), from €417,555 to €37,817
of which Other amounts receivable: -€408,711
- Tangible fixed assets -€46,541
down €46,541 (-7.6%), from €608,954 to €562,413
- Cash +€38,146
up €38,146 (+613%), from €6,225 to €44,370
mainly Receivables within one year (+€379,738) and Depreciation (+€56,771)
- Stocks and contracts -€37,998
down €37,998 (-38.8%), from €97,959 to €59,961
of which Contracts in progress: -€38,831
Equity and liabilities
- Trade debts -€404,274
down €404,274 (-95.7%), from €422,409 to €18,134
- Debts after one year -€32,350
down €32,350 (-7.1%), from €454,989 to €422,639
- Other debts -€27,073
down €27,073 (-57.5%), from €47,106 to €20,033
- Reserves +€20,376
up €20,376 (+14.6%), from €139,659 to €160,035
Income statement
- Gross operating margin +€64,640
up €64,640 (+28.8%), from €224,223 to €288,863
- Staff costs +€61,012
up €61,012 (+62.8%), from €97,112 to €158,123
- Depreciation -€16,205
down €16,205 (-22.2%), from €72,976 to €56,771
- Taxes +€4,519
up €4,519 (+47.6%), from €9,497 to €14,016
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
€24,130
Gross operating margin
+€64,640
Staff costs
-€61,012
Depreciation
+€16,205
Other operating charges
-€2,455
Financial income
+€258
Financial charges
-€629
Taxes
-€4,519
Result 2025
€36,620
raises the resultlowers the result
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
+€92,225
Investment
-€10,630
Financing
-€43,449
Cash 2024
€6,225
From operations (derived)
+€92,225
Net result for the year
+€36,620
Depreciation
+€56,771
Stocks and contracts
+€37,998
Receivables within one year
+€379,738
Deferred charges and accrued income
+€5,239
Trade debts
-€404,274
Tax, wage and social debts
+€8,827
Other debts
-€27,073
Accrued charges and deferred income
-€1,621
Investment (derived)
-€10,630
Investment in fixed assets (net)
-€10,630
Financing
-€43,449
Debts after one year
-€32,350
Current portion of long-term debt
+€1,242
Short-term financial debts
+€3,902
Contributions, distributions and other
-€16,243
Cash 2025
€44,370
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,142,844 | €711,873 | -€430,971 | -37.7% |
| Fixed assets | 21/28 | €608,954 | €562,813 | -€46,141 | -7.6% |
| Tangible fixed assets | 22/27 | €608,954 | €562,413 | -€46,541 | -7.6% |
| Land and buildings | 22 | €413,280 | €398,293 | -€14,987 | -3.6% |
| Plant, machinery and equipment | 23 | €121,616 | €111,344 | -€10,272 | -8.4% |
| Furniture and vehicles | 24 | €74,059 | €52,777 | -€21,282 | -28.7% |
| Financial fixed assets | 28 | - | €400 | +€400 | |
| Current assets | 29/58 | €533,889 | €149,060 | -€384,830 | -72.1% |
| Stocks and contracts in progress | 3 | €97,959 | €59,961 | -€37,998 | -38.8% |
| Stocks | 30/36 | €21,266 | €22,100 | +€834 | +3.9% |
| Contracts in progress | 37 | €76,693 | €37,862 | -€38,831 | -50.6% |
| Amounts receivable within one year | 40/41 | €417,555 | €37,817 | -€379,738 | -90.9% |
| Trade receivables | 40 | €143 | €29,116 | +€28,973 | +20,245% |
| Other amounts receivable | 41 | €417,412 | €8,701 | -€408,711 | -97.9% |
| Cash at bank and in hand | 54/58 | €6,225 | €44,370 | +€38,146 | +613% |
| Deferred charges and accrued income | 490/1 | €12,151 | €6,911 | -€5,239 | -43.1% |
| Total equity and liabilities | 10/49 | €1,142,844 | €711,873 | -€430,971 | -37.7% |
| Equity | 10/15 | €173,056 | €193,432 | +€20,376 | +11.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €139,659 | €160,035 | +€20,376 | +14.6% |
| Distributable reserves | 133 | €139,659 | €160,035 | +€20,376 | +14.6% |
| Profit (loss) carried forward | 14 | €20,997 | €20,997 | = | 0.0% |
| Amounts payable | 17/49 | €969,788 | €518,441 | -€451,347 | -46.5% |
| Amounts payable after more than one year | 17 | €454,989 | €422,639 | -€32,350 | -7.1% |
| Financial debts | 170/4 | €454,989 | €422,639 | -€32,350 | -7.1% |
| Amounts payable within one year | 42/48 | €511,710 | €94,334 | -€417,376 | -81.6% |
| Current portion of amounts payable after more than one year | 42 | €31,108 | €32,349 | +€1,242 | +4.0% |
| Financial debts | 43 | €7,815 | €11,717 | +€3,902 | +49.9% |
| Credit institutions | 430/8 | €7,815 | €11,717 | +€3,902 | +49.9% |
| Trade debts | 44 | €422,409 | €18,134 | -€404,274 | -95.7% |
| Suppliers | 440/4 | €422,409 | €18,134 | -€404,274 | -95.7% |
| Taxes, remuneration and social security | 45 | €3,273 | €12,099 | +€8,827 | +270% |
| Taxes | 450/3 | - | €450 | +€450 | |
| Remuneration and social security | 454/9 | €3,273 | €11,649 | +€8,377 | +256% |
| Other amounts payable | 47/48 | €47,106 | €20,033 | -€27,073 | -57.5% |
| Accrued charges and deferred income | 492/3 | €3,089 | €1,468 | -€1,621 | -52.5% |
| Non-recurring operating income | 76A | - | €911 | +€911 | |
| Remuneration, social security and pensions | 62 | €97,112 | €158,123 | +€61,012 | +62.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,976 | €56,771 | -€16,205 | -22.2% |
| Other operating charges | 640/8 | €841 | €3,296 | +€2,455 | +292% |
| Gross operating margin | 9900 | €224,223 | €288,863 | +€64,640 | +28.8% |
| Operating profit (loss) | 9901 | €53,294 | €70,673 | +€17,379 | +32.6% |
| Financial income | 75/76B | €13 | €271 | +€258 | +2,025% |
| Recurring financial income | 75 | €13 | €271 | +€258 | +2,025% |
| Financial charges | 65/66B | €19,679 | €20,308 | +€629 | +3.2% |
| Recurring financial charges | 65 | €19,679 | €20,308 | +€629 | +3.2% |
| Profit (loss) for the period before taxes | 9903 | €33,628 | €50,635 | +€17,008 | +50.6% |
| Income taxes | 67/77 | €9,497 | €14,016 | +€4,519 | +47.6% |
| Profit (loss) for the period | 9904 | €24,130 | €36,620 | +€12,489 | +51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,130 | €36,620 | +€12,489 | +51.8% |
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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 4 November 2026 via checked.be.