IRD'ELEK: what changed
IRD'ELEK
Largest movements
- Cash +€56,339
up €56,339 (+78.6%), from €71,639 to €127,978
mainly Other debts (+€56,208) and Net result for the year (+€38,099)
- Tangible fixed assets -€12,117
down €12,117 (-42.7%), from €28,400 to €16,283
of which Furniture and vehicles: -€10,768
- Receivables within one year -€4,637
down €4,637 (-24.3%), from €19,063 to €14,426
of which Trade receivables: -€4,557
- Other debts +€56,208
up €56,208 (+3,961%), from €1,419 to €57,627
- Reserves -€24,000
down €24,000 (-20.4%), from €117,620 to €93,620
- Trade debts +€9,891
up €9,891 (+122%), from €8,108 to €17,999
- Tax, wage and social debts +€6,302
up €6,302 (+221%), from €2,846 to €9,149
of which Taxes: +€4,531
- Debts after one year -€3,761
no longer reported in 2025 (was €3,761)
- Gross operating margin +€35,034
up €35,034 (+51.7%), from €67,724 to €102,759
- Staff costs +€15,232
up €15,232 (+129%), from €11,805 to €27,038
- Taxes +€7,774
up €7,774 (+68.4%), from €11,374 to €19,148
- Write-downs -€1,591
no longer reported in 2025 (was €1,591)
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €153,759 | €195,794 | +€42,036 | +27.3% |
| Fixed assets | 21/28 | €30,740 | €17,903 | -€12,837 | -41.8% |
| Intangible fixed assets | 21 | €2,339 | €1,620 | -€720 | -30.8% |
| Tangible fixed assets | 22/27 | €28,400 | €16,283 | -€12,117 | -42.7% |
| Plant, machinery and equipment | 23 | €9,363 | €8,013 | -€1,350 | -14.4% |
| Furniture and vehicles | 24 | €19,037 | €8,270 | -€10,768 | -56.6% |
| Current assets | 29/58 | €123,019 | €177,892 | +€54,873 | +44.6% |
| Stocks and contracts in progress | 3 | €29,901 | €31,438 | +€1,537 | +5.1% |
| Stocks | 30/36 | €29,901 | €31,438 | +€1,537 | +5.1% |
| Amounts receivable within one year | 40/41 | €19,063 | €14,426 | -€4,637 | -24.3% |
| Trade receivables | 40 | €9,818 | €5,261 | -€4,557 | -46.4% |
| Other amounts receivable | 41 | €9,245 | €9,165 | -€80 | -0.9% |
| Cash at bank and in hand | 54/58 | €71,639 | €127,978 | +€56,339 | +78.6% |
| Deferred charges and accrued income | 490/1 | €2,417 | €4,050 | +€1,634 | +67.6% |
| Total equity and liabilities | 10/49 | €153,759 | €195,794 | +€42,036 | +27.3% |
| Equity | 10/15 | €130,160 | €107,258 | -€22,901 | -17.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €117,620 | €93,620 | -€24,000 | -20.4% |
| Distributable reserves | 133 | €117,620 | €93,620 | -€24,000 | -20.4% |
| Profit (loss) carried forward | 14 | €6,340 | €7,438 | +€1,099 | +17.3% |
| Amounts payable | 17/49 | €23,599 | €88,536 | +€64,937 | +275% |
| Amounts payable after more than one year | 17 | €3,761 | - | -€3,761 | |
| Financial debts | 170/4 | €3,761 | - | -€3,761 | |
| Amounts payable within one year | 42/48 | €19,838 | €88,536 | +€68,698 | +346% |
| Current portion of amounts payable after more than one year | 42 | €7,464 | €3,761 | -€3,703 | -49.6% |
| Trade debts | 44 | €8,108 | €17,999 | +€9,891 | +122% |
| Suppliers | 440/4 | €8,108 | €17,999 | +€9,891 | +122% |
| Taxes, remuneration and social security | 45 | €2,846 | €9,149 | +€6,302 | +221% |
| Taxes | 450/3 | €500 | €5,031 | +€4,531 | +907% |
| Remuneration and social security | 454/9 | €2,347 | €4,118 | +€1,771 | +75.5% |
| Other amounts payable | 47/48 | €1,419 | €57,627 | +€56,208 | +3,961% |
| Remuneration, social security and pensions | 62 | €11,805 | €27,038 | +€15,232 | +129% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,337 | €17,362 | +€1,025 | +6.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,591 | - | -€1,591 | |
| Other operating charges | 640/8 | €1,254 | €678 | -€575 | -45.9% |
| Gross operating margin | 9900 | €67,724 | €102,759 | +€35,034 | +51.7% |
| Operating profit (loss) | 9901 | €36,738 | €57,681 | +€20,943 | +57.0% |
| Financial income | 75/76B | €3 | €43 | +€40 | +1,385% |
| Recurring financial income | 75 | €3 | €43 | +€40 | +1,385% |
| Financial charges | 65/66B | €550 | €477 | -€73 | -13.3% |
| Recurring financial charges | 65 | €550 | €477 | -€73 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €36,190 | €57,247 | +€21,056 | +58.2% |
| Income taxes | 67/77 | €11,374 | €19,148 | +€7,774 | +68.4% |
| Profit (loss) for the period | 9904 | €24,817 | €38,099 | +€13,282 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €24,817 | €38,099 | +€13,282 | +53.5% |
Next steps
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 6 November 2026 via checked.be.