IRET: 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.
IRET
Largest movements
- Receivables within one year +€18,372
up €18,372 (+16.4%), from €112,278 to €130,650
of which Other amounts receivable: +€17,400
- Reserves +€14,000
up €14,000 (+44.7%), from €31,348 to €45,348
- Tax, wage and social debts +€1,973
up €1,973 (+10.7%), from €18,385 to €20,358
- Financial charges +€2,283
up €2,283 (+99.3%), from €2,300 to €4,583
- Gross operating margin -€811
down €811 (-3.8%), from €21,238 to €20,427
- Taxes -€799
down €799 (-11.6%), from €6,894 to €6,096
- Financial income +€484
up €484 (+9.3%), from €5,225 to €5,709
- Other operating charges -€240
down €240 (-27.5%), from €875 to €635
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 | €118,460 | €135,420 | +€16,960 | +14.3% |
| Fixed assets | 21/28 | €2,308 | €1,855 | -€452 | -19.6% |
| Tangible fixed assets | 22/27 | €1,957 | €1,504 | -€452 | -23.1% |
| Plant, machinery and equipment | 23 | €1,957 | €1,504 | -€452 | -23.1% |
| Financial fixed assets | 28 | €351 | €351 | = | 0.0% |
| Current assets | 29/58 | €116,153 | €133,565 | +€17,412 | +15.0% |
| Amounts receivable within one year | 40/41 | €112,278 | €130,650 | +€18,372 | +16.4% |
| Trade receivables | 40 | €15,372 | €16,344 | +€972 | +6.3% |
| Other amounts receivable | 41 | €96,906 | €114,306 | +€17,400 | +18.0% |
| Cash at bank and in hand | 54/58 | €3,745 | €2,608 | -€1,137 | -30.4% |
| Deferred charges and accrued income | 490/1 | €130 | €307 | +€177 | +136.0% |
| Total equity and liabilities | 10/49 | €118,460 | €135,420 | +€16,960 | +14.3% |
| Equity | 10/15 | €87,210 | €101,580 | +€14,370 | +16.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €31,348 | €45,348 | +€14,000 | +44.7% |
| Distributable reserves | 133 | €31,348 | €45,348 | +€14,000 | +44.7% |
| Profit (loss) carried forward | 14 | €37,261 | €37,632 | +€370 | +1.0% |
| Amounts payable | 17/49 | €31,251 | €33,840 | +€2,590 | +8.3% |
| Amounts payable within one year | 42/48 | €31,251 | €33,840 | +€2,590 | +8.3% |
| Trade debts | 44 | €866 | €1,483 | +€617 | +71.2% |
| Suppliers | 440/4 | €866 | €1,483 | +€617 | +71.2% |
| Advances received on contracts in progress | 46 | €12,000 | €12,000 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €18,385 | €20,358 | +€1,973 | +10.7% |
| Taxes | 450/3 | €18,385 | €20,358 | +€1,973 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €305 | €452 | +€147 | +48.2% |
| Other operating charges | 640/8 | €875 | €635 | -€240 | -27.5% |
| Gross operating margin | 9900 | €21,238 | €20,427 | -€811 | -3.8% |
| Operating profit (loss) | 9901 | €20,058 | €19,340 | -€718 | -3.6% |
| Financial income | 75/76B | €5,225 | €5,709 | +€484 | +9.3% |
| Recurring financial income | 75 | €5,225 | €5,709 | +€484 | +9.3% |
| Financial charges | 65/66B | €2,300 | €4,583 | +€2,283 | +99.3% |
| Recurring financial charges | 65 | €2,300 | €4,583 | +€2,283 | +99.3% |
| Profit (loss) for the period before taxes | 9903 | €22,983 | €20,466 | -€2,517 | -11.0% |
| Income taxes | 67/77 | €6,894 | €6,096 | -€799 | -11.6% |
| Profit (loss) for the period | 9904 | €16,088 | €14,370 | -€1,718 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,088 | €14,370 | -€1,718 | -10.7% |
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 2 October 2026 via checked.be.