IREAS: 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.
IREAS
Largest movements
- Receivables after one year +€213,650
new in 2025: €213,650
- Receivables within one year -€139,675
down €139,675 (-51.7%), from €270,401 to €130,726
of which Other amounts receivable: -€124,151
- Cash -€26,868
down €26,868 (-46.5%), from €57,762 to €30,894
mainly Receivables after one year (-€213,650) and Trade debts (-€26,557)
- Other debts +€42,911
up €42,911 (+29.5%), from €145,553 to €188,464
- Reserves +€39,658
up €39,658 (+169.2%), from €23,438 to €63,097
- Trade debts -€26,557
down €26,557 (-68.0%), from €39,053 to €12,497
- Tax, wage and social debts -€22,408
down €22,408 (-51.0%), from €43,932 to €21,525
- Current portion of long-term debt +€10,000
new in 2025: €10,000
- Gross operating margin +€21,230
up €21,230 (+56.7%), from €37,470 to €58,699
- Taxes +€5,910
up €5,910 (+62.0%), from €9,531 to €15,441
- Financial income +€1,817
up €1,817 (+146542.7%), from €1 to €1,818
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 | €351,487 | €393,232 | +€41,745 | +11.9% |
| Fixed assets | 21/28 | €23,325 | €17,962 | -€5,363 | -23.0% |
| Tangible fixed assets | 22/27 | €17,125 | €14,862 | -€2,263 | -13.2% |
| Land and buildings | 22 | €16,434 | €14,862 | -€1,573 | -9.6% |
| Furniture and vehicles | 24 | €690 | €0 | -€690 | -100.0% |
| Financial fixed assets | 28 | €6,200 | €3,100 | -€3,100 | -50.0% |
| Current assets | 29/58 | €328,163 | €375,270 | +€47,107 | +14.4% |
| Amounts receivable after more than one year | 29 | - | €213,650 | +€213,650 | |
| Other amounts receivable | 291 | - | €213,650 | +€213,650 | |
| Amounts receivable within one year | 40/41 | €270,401 | €130,726 | -€139,675 | -51.7% |
| Trade receivables | 40 | €39,998 | €24,475 | -€15,523 | -38.8% |
| Other amounts receivable | 41 | €230,402 | €106,251 | -€124,151 | -53.9% |
| Cash at bank and in hand | 54/58 | €57,762 | €30,894 | -€26,868 | -46.5% |
| Total equity and liabilities | 10/49 | €351,487 | €393,232 | +€41,745 | +11.9% |
| Equity | 10/15 | €43,898 | €81,697 | +€37,798 | +86.1% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €23,438 | €63,097 | +€39,658 | +169.2% |
| Distributable reserves | 133 | €23,438 | €63,097 | +€39,658 | +169.2% |
| Amounts payable | 17/49 | €307,589 | €311,535 | +€3,946 | +1.3% |
| Amounts payable after more than one year | 17 | €79,050 | €79,050 | = | 0.0% |
| Financial debts | 170/4 | €79,050 | €79,050 | = | 0.0% |
| Amounts payable within one year | 42/48 | €228,539 | €232,485 | +€3,946 | +1.7% |
| Current portion of amounts payable after more than one year | 42 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €39,053 | €12,497 | -€26,557 | -68.0% |
| Suppliers | 440/4 | €39,053 | €12,497 | -€26,557 | -68.0% |
| Taxes, remuneration and social security | 45 | €43,932 | €21,525 | -€22,408 | -51.0% |
| Taxes | 450/3 | €43,932 | €21,525 | -€22,408 | -51.0% |
| Other amounts payable | 47/48 | €145,553 | €188,464 | +€42,911 | +29.5% |
| Non-recurring operating income | 76A | - | €866 | +€866 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,360 | €3,129 | -€231 | -6.9% |
| Other operating charges | 640/8 | €1,024 | €846 | -€178 | -17.4% |
| Non-recurring operating charges | 66A | - | €3,099 | +€3,099 | |
| Gross operating margin | 9900 | €37,470 | €58,699 | +€21,230 | +56.7% |
| Operating profit (loss) | 9901 | €33,086 | €51,625 | +€18,540 | +56.0% |
| Financial income | 75/76B | €1 | €1,818 | +€1,817 | +146542.7% |
| Recurring financial income | 75 | €1 | €1,818 | +€1,817 | +146542.7% |
| Financial charges | 65/66B | €117 | €204 | +€87 | +74.0% |
| Recurring financial charges | 65 | €117 | €204 | +€87 | +74.0% |
| Profit (loss) for the period before taxes | 9903 | €32,970 | €53,239 | +€20,270 | +61.5% |
| Income taxes | 67/77 | €9,531 | €15,441 | +€5,910 | +62.0% |
| Profit (loss) for the period | 9904 | €23,438 | €37,798 | +€14,360 | +61.3% |
| Profit (loss) for the period to be appropriated | 9905 | €23,438 | €37,798 | +€14,360 | +61.3% |
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 12 October 2026 via checked.be.