IRES: 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.
IRES
Largest movements
- Tangible fixed assets -€14,540
down €14,540 (-3.8%), from €382,223 to €367,684
- Short-term financial debts -€5,893
down €5,893 (-11.8%), from €49,792 to €43,898
- Other debts -€4,359
down €4,359 (-2.8%), from €153,371 to €149,012
- Gross operating margin -€168,565
down €168,565 (-87.9%), from €191,866 to €23,300
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 | €434,221 | €422,920 | -€11,301 | -2.6% |
| Fixed assets | 21/28 | €382,223 | €367,684 | -€14,540 | -3.8% |
| Tangible fixed assets | 22/27 | €382,223 | €367,684 | -€14,540 | -3.8% |
| Land and buildings | 22 | €382,223 | €367,684 | -€14,540 | -3.8% |
| Current assets | 29/58 | €51,998 | €55,237 | +€3,239 | +6.2% |
| Cash at bank and in hand | 54/58 | €51,788 | €55,237 | +€3,448 | +6.7% |
| Deferred charges and accrued income | 490/1 | €209 | - | -€209 | |
| Total equity and liabilities | 10/49 | €434,221 | €422,920 | -€11,301 | -2.6% |
| Equity | 10/15 | €227,816 | €228,991 | +€1,175 | +0.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €165,816 | €166,991 | +€1,175 | +0.7% |
| Tax-exempt reserves | 132 | €164,751 | €164,751 | = | 0.0% |
| Distributable reserves | 133 | €1,065 | €2,240 | +€1,175 | +110.3% |
| Amounts payable | 17/49 | €206,405 | €193,929 | -€12,476 | -6.0% |
| Amounts payable within one year | 42/48 | €206,405 | €193,929 | -€12,476 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €642 | - | -€642 | |
| Financial debts | 43 | €49,792 | €43,898 | -€5,893 | -11.8% |
| Other loans | 439 | €49,792 | €43,898 | -€5,893 | -11.8% |
| Trade debts | 44 | €2,494 | €795 | -€1,699 | -68.1% |
| Suppliers | 440/4 | €2,494 | €795 | -€1,699 | -68.1% |
| Taxes, remuneration and social security | 45 | €107 | €224 | +€117 | +110.3% |
| Taxes | 450/3 | €107 | €224 | +€117 | +110.3% |
| Other amounts payable | 47/48 | €153,371 | €149,012 | -€4,359 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,578 | €14,540 | -€38 | -0.3% |
| Other operating charges | 640/8 | €8,066 | €7,322 | -€744 | -9.2% |
| Gross operating margin | 9900 | €191,866 | €23,300 | -€168,565 | -87.9% |
| Operating profit (loss) | 9901 | €169,222 | €1,439 | -€167,783 | -99.1% |
| Financial charges | 65/66B | €245 | €147 | -€98 | -40.0% |
| Recurring financial charges | 65 | €245 | €147 | -€98 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €168,977 | €1,292 | -€167,685 | -99.2% |
| Income taxes | 67/77 | €107 | €117 | +€11 | +10.3% |
| Profit (loss) for the period | 9904 | €168,871 | €1,175 | -€167,696 | -99.3% |
| Transfer to tax-exempt reserves | 689 | €164,751 | - | -€164,751 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,119 | €1,175 | -€2,945 | -71.5% |
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 11 October 2026 via checked.be.