IRINA'S: 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.
What changed
IRINA'S
NACE 03.110, Fishing and aquaculture
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€82,536
2024 · €71,149+€11,387
Equity
€2.4m
2024 · €2.4m+€24,163
Cash
€442,165
2024 · €291,410+€150,755
Balance sheet total
€8.8m
2024 · €9.1m-€293,841
Largest movements
Assets
- Tangible fixed assets -€453,387
down €453,387 (-5.3%), from €8.6m to €8.1m
of which Furniture and vehicles: -€387,956
- Cash +€150,755
up €150,755 (+51.7%), from €291,410 to €442,165
mainly Depreciation (+€538,991) and Net result for the year (+€82,536)
Equity and liabilities
- Debts after one year -€296,108
down €296,108 (-4.9%), from €6.0m to €5.7m
of which Financial debts: -€296,108
Income statement
- Staff costs +€42,055
up €42,055 (+5.5%), from €768,986 to €811,041
- Financial charges -€38,138
down €38,138 (-17.1%), from €223,211 to €185,073
- Gross operating margin +€33,394
up €33,394 (+2.2%), from €1.5m to €1.6m
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.
Result 2024
€71,149
Gross operating margin
+€33,394
Staff costs
-€42,055
Depreciation
-€8,883
Other operating charges
-€8,187
Financial income
+€220
Financial charges
+€38,138
Taxes
-€1,156
Deferred taxes and other
-€84
Result 2025
€82,536
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€576,047
Investment
-€84,675
Financing
-€340,617
Cash 2024
€291,410
From operations (derived)
+€576,047
Net result for the year
+€82,536
Depreciation
+€538,991
Receivables within one year
-€39,701
Deferred charges and accrued income
+€29,981
Provisions
-€8,448
Trade debts
-€36,472
Tax, wage and social debts
+€2,630
Other debts
+€6,405
Accrued charges and deferred income
+€125
Investment (derived)
-€84,675
Investment in fixed assets (net)
-€78,191
Current investments
-€6,484
Financing
-€340,617
Debts after one year
-€296,108
Current portion of long-term debt
+€13,864
Contributions, distributions and other
-€58,373
Cash 2025
€442,165
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,076,988 | €8,783,147 | -€293,841 | -3.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €8,606,307 | €8,145,506 | -€460,801 | -5.4% |
| Intangible fixed assets | 21 | €29,087 | €21,673 | -€7,414 | -25.5% |
| Tangible fixed assets | 22/27 | €8,575,529 | €8,122,142 | -€453,387 | -5.3% |
| Land and buildings | 22 | €164,300 | €167,077 | +€2,777 | +1.7% |
| Plant, machinery and equipment | 23 | €162,399 | €117,975 | -€44,424 | -27.4% |
| Furniture and vehicles | 24 | €8,173,767 | €7,785,811 | -€387,956 | -4.7% |
| Leasing and similar rights | 25 | €75,062 | €51,279 | -€23,783 | -31.7% |
| Financial fixed assets | 28 | €1,691 | €1,691 | = | 0.0% |
| Current assets | 29/58 | €470,681 | €637,640 | +€166,959 | +35.5% |
| Amounts receivable within one year | 40/41 | €79,527 | €119,229 | +€39,701 | +49.9% |
| Trade receivables | 40 | €5,027 | €63,047 | +€58,021 | +1,154% |
| Other amounts receivable | 41 | €74,501 | €56,182 | -€18,319 | -24.6% |
| Current investments | 50/53 | €6,684 | €13,168 | +€6,484 | +97.0% |
| Cash at bank and in hand | 54/58 | €291,410 | €442,165 | +€150,755 | +51.7% |
| Deferred charges and accrued income | 490/1 | €93,059 | €63,078 | -€29,981 | -32.2% |
| Total equity and liabilities | 10/49 | €9,076,988 | €8,783,147 | -€293,841 | -3.2% |
| Equity | 10/15 | €2,368,686 | €2,392,849 | +€24,163 | +1.0% |
| Contributions | 10/11 | €252,851 | €252,851 | = | 0.0% |
| Capital | 10 | €252,851 | €252,851 | = | 0.0% |
| Issued capital | 100 | €252,851 | €252,851 | = | 0.0% |
| Revaluation surpluses | 12 | €350,000 | €350,000 | = | 0.0% |
| Reserves | 13 | €321,560 | €404,096 | +€82,536 | +25.7% |
| Non-distributable reserves | 130/1 | €25,285 | €25,285 | = | 0.0% |
| Legal reserve | 130 | €25,285 | €25,285 | = | 0.0% |
| Distributable reserves | 133 | €296,275 | €378,811 | +€82,536 | +27.9% |
| Profit (loss) carried forward | 14 | €392,768 | €392,768 | +€0 | 0.0% |
| Investment grants | 15 | €1,051,507 | €993,134 | -€58,373 | -5.6% |
| Provisions and deferred taxes | 16 | €151,194 | €142,746 | -€8,448 | -5.6% |
| Deferred taxes | 168 | €151,194 | €142,746 | -€8,448 | -5.6% |
| Amounts payable | 17/49 | €6,557,107 | €6,247,551 | -€309,556 | -4.7% |
| Amounts payable after more than one year | 17 | €6,032,444 | €5,736,336 | -€296,108 | -4.9% |
| Financial debts | 170/4 | €5,877,444 | €5,581,336 | -€296,108 | -5.0% |
| Other amounts payable | 178/9 | €155,000 | €155,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €524,664 | €511,090 | -€13,574 | -2.6% |
| Current portion of amounts payable after more than one year | 42 | €331,931 | €345,795 | +€13,864 | +4.2% |
| Trade debts | 44 | €78,369 | €41,897 | -€36,472 | -46.5% |
| Suppliers | 440/4 | €78,369 | €41,897 | -€36,472 | -46.5% |
| Taxes, remuneration and social security | 45 | €76,293 | €78,923 | +€2,630 | +3.4% |
| Taxes | 450/3 | €46,291 | €48,376 | +€2,084 | +4.5% |
| Remuneration and social security | 454/9 | €30,002 | €30,547 | +€545 | +1.8% |
| Other amounts payable | 47/48 | €38,070 | €44,475 | +€6,405 | +16.8% |
| Accrued charges and deferred income | 492/3 | - | €125 | +€125 | |
| Non-recurring operating income | 76A | €9,248 | - | -€9,248 | |
| Remuneration, social security and pensions | 62 | €768,986 | €811,041 | +€42,055 | +5.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €530,108 | €538,991 | +€8,883 | +1.7% |
| Other operating charges | 640/8 | €8,916 | €17,103 | +€8,187 | +91.8% |
| Gross operating margin | 9900 | €1,539,082 | €1,572,475 | +€33,394 | +2.2% |
| Operating profit (loss) | 9901 | €231,072 | €205,341 | -€25,731 | -11.1% |
| Financial income | 75/76B | €61,828 | €62,048 | +€220 | +0.4% |
| Recurring financial income | 75 | €61,828 | €62,048 | +€220 | +0.4% |
| Financial charges | 65/66B | €223,211 | €185,073 | -€38,138 | -17.1% |
| Recurring financial charges | 65 | €223,211 | €185,073 | -€38,138 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | €69,689 | €82,316 | +€12,627 | +18.1% |
| Transfer from deferred taxes | 780 | €8,766 | €8,682 | -€84 | -1.0% |
| Income taxes | 67/77 | €7,306 | €8,462 | +€1,156 | +15.8% |
| Profit (loss) for the period | 9904 | €71,149 | €82,536 | +€11,387 | +16.0% |
| Profit (loss) for the period to be appropriated | 9905 | €71,149 | €82,536 | +€11,387 | +16.0% |
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 1 November 2026 via checked.be.