IRC: 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.
IRC
Largest movements
- Tangible fixed assets +€2.9m
up €2.9m (+2649.9%), from €109,279 to €3.0m
of which Land and buildings: +€2.9m
- Receivables within one year +€267,339
up €267,339 (+2149.9%), from €12,435 to €279,774
of which Other amounts receivable: +€179,436
- Cash -€56,869
down €56,869 (-46.6%), from €121,925 to €65,056
mainly Investment in fixed assets (net) (-€3.0m) and Receivables within one year (-€267,339)
- Contributions +€2.7m
up €2.7m (+268400.0%), from €1,000 to €2.7m
- Debts after one year +€220,362
up €220,362 (+367.3%), from €60,000 to €280,362
- Reserves +€77,039
up €77,039 (+170.0%), from €45,310 to €122,349
of which Distributable reserves: +€77,039
- Trade debts +€41,898
up €41,898 (+1635.3%), from €2,562 to €44,460
- Current portion of long-term debt +€38,858
new in 2025: €38,858
- Gross operating margin +€156,282
up €156,282 (+296.7%), from €52,676 to €208,958
- Depreciation +€54,024
up €54,024 (+331.8%), from €16,282 to €70,306
- Financial charges +€16,997
up €16,997 (+699.3%), from €2,431 to €19,427
- Other operating charges +€16,422
up €16,422 (+1257.1%), from €1,306 to €17,728
- Taxes +€13,814
up €13,814 (+153.9%), from €8,978 to €22,792
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 | €243,639 | €3,349,850 | +€3.1m | +1274.9% |
| Fixed assets | 21/28 | €109,279 | €3,005,020 | +€2.9m | +2649.9% |
| Tangible fixed assets | 22/27 | €109,279 | €3,005,020 | +€2.9m | +2649.9% |
| Land and buildings | 22 | €101,830 | €3,000,457 | +€2.9m | +2846.5% |
| Furniture and vehicles | 24 | €7,449 | €4,563 | -€2,886 | -38.7% |
| Current assets | 29/58 | €134,360 | €344,830 | +€210,470 | +156.6% |
| Amounts receivable within one year | 40/41 | €12,435 | €279,774 | +€267,339 | +2149.9% |
| Trade receivables | 40 | €11,676 | €99,579 | +€87,903 | +752.9% |
| Other amounts receivable | 41 | €759 | €180,195 | +€179,436 | +23636.8% |
| Cash at bank and in hand | 54/58 | €121,925 | €65,056 | -€56,869 | -46.6% |
| Total equity and liabilities | 10/49 | €243,639 | €3,349,850 | +€3.1m | +1274.9% |
| Equity | 10/15 | €46,310 | €2,807,349 | +€2.8m | +5962.0% |
| Contributions | 10/11 | €1,000 | €2,685,000 | +€2.7m | +268400.0% |
| Reserves | 13 | €45,310 | €122,349 | +€77,039 | +170.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €45,310 | €122,349 | +€77,039 | +170.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €197,329 | €542,501 | +€345,172 | +174.9% |
| Amounts payable after more than one year | 17 | €60,000 | €280,362 | +€220,362 | +367.3% |
| Financial debts | 170/4 | €60,000 | €280,362 | +€220,362 | +367.3% |
| Amounts payable within one year | 42/48 | €134,993 | €251,055 | +€116,062 | +86.0% |
| Current portion of amounts payable after more than one year | 42 | - | €38,858 | +€38,858 | |
| Financial debts | 43 | - | €16,877 | +€16,877 | |
| Credit institutions | 430/8 | - | €16,877 | +€16,877 | |
| Trade debts | 44 | €2,562 | €44,460 | +€41,898 | +1635.3% |
| Suppliers | 440/4 | €2,562 | €44,460 | +€41,898 | +1635.3% |
| Taxes, remuneration and social security | 45 | €7,508 | €5,228 | -€2,280 | -30.4% |
| Taxes | 450/3 | €5,298 | €5,228 | -€70 | -1.3% |
| Remuneration and social security | 454/9 | €2,210 | €0 | -€2,210 | -100.0% |
| Other amounts payable | 47/48 | €124,922 | €145,632 | +€20,710 | +16.6% |
| Accrued charges and deferred income | 492/3 | €2,336 | €11,084 | +€8,748 | +374.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,282 | €70,306 | +€54,024 | +331.8% |
| Other operating charges | 640/8 | €1,306 | €17,728 | +€16,422 | +1257.1% |
| Gross operating margin | 9900 | €52,676 | €208,958 | +€156,282 | +296.7% |
| Operating profit (loss) | 9901 | €35,088 | €120,924 | +€85,836 | +244.6% |
| Financial charges | 65/66B | €2,431 | €19,427 | +€16,997 | +699.3% |
| Recurring financial charges | 65 | €2,431 | €19,427 | +€16,997 | +699.3% |
| Profit (loss) for the period before taxes | 9903 | €32,657 | €101,497 | +€68,839 | +210.8% |
| Income taxes | 67/77 | €8,978 | €22,792 | +€13,814 | +153.9% |
| Profit (loss) for the period | 9904 | €23,679 | €78,705 | +€55,026 | +232.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,679 | €78,705 | +€55,026 | +232.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.