IRIS: 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.
IRIS
Largest movements
- Tangible fixed assets +€463,514
up €463,514 (+11.9%), from €3.9m to €4.4m
of which Assets under construction and advance payments: +€586,425
- Cash -€163,151
down €163,151 (-65.2%), from €250,156 to €87,005
mainly Investment in fixed assets (net) (-€596,602) and Receivables within one year (-€11,142)
- Current investments -€100,412
down €100,412 (-33.3%), from €301,220 to €200,808
- Debts after one year +€193,178
up €193,178 (+27.9%), from €692,448 to €885,626
- Purchases and services +€372,130
new in 2025: €372,130
- Turnover +€224,127
new in 2025: €224,127
- Staff costs +€101,416
up €101,416 (+7.0%), from €1.5m to €1.6m
- Gross operating margin +€60,345
up €60,345 (+3.6%), from €1.7m to €1.7m
- Depreciation -€21,788
down €21,788 (-13.8%), from €158,076 to €136,288
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 | €4,502,318 | €4,714,441 | +€212,123 | +4.7% |
| Fixed assets | 21/28 | €3,900,977 | €4,361,291 | +€460,314 | +11.8% |
| Tangible fixed assets | 22/27 | €3,894,317 | €4,357,831 | +€463,514 | +11.9% |
| Land and buildings | 22 | €3,154,581 | €3,046,560 | -€108,021 | -3.4% |
| Plant, machinery and equipment | 23 | €18,963 | €13,645 | -€5,318 | -28.0% |
| Furniture and vehicles | 24 | €91,536 | €81,964 | -€9,572 | -10.5% |
| Assets under construction and advance payments | 27 | €629,237 | €1,215,662 | +€586,425 | +93.2% |
| Financial fixed assets | 28 | €6,660 | €3,460 | -€3,200 | -48.0% |
| Current assets | 29/58 | €601,341 | €353,150 | -€248,191 | -41.3% |
| Stocks and contracts in progress | 3 | €4,316 | €5,408 | +€1,092 | +25.3% |
| Stocks | 30/36 | €4,316 | €5,408 | +€1,092 | +25.3% |
| Amounts receivable within one year | 40/41 | €29,738 | €40,880 | +€11,142 | +37.5% |
| Trade receivables | 40 | €29,738 | €38,805 | +€9,067 | +30.5% |
| Other amounts receivable | 41 | - | €2,075 | +€2,075 | |
| Current investments | 50/53 | €301,220 | €200,808 | -€100,412 | -33.3% |
| Cash at bank and in hand | 54/58 | €250,156 | €87,005 | -€163,151 | -65.2% |
| Deferred charges and accrued income | 490/1 | €15,911 | €19,049 | +€3,138 | +19.7% |
| Total equity and liabilities | 10/49 | €4,502,318 | €4,714,441 | +€212,123 | +4.7% |
| Equity | 10/15 | €3,492,189 | €3,502,266 | +€10,077 | +0.3% |
| Contributions | 10/11 | €984,230 | €984,229 | -€1 | 0.0% |
| Capital | 10 | €984,230 | €984,229 | -€1 | 0.0% |
| Reserves | 13 | €422,580 | €423,588 | +€1,008 | +0.2% |
| Profit (loss) carried forward | 14 | €2,085,379 | €2,094,449 | +€9,070 | +0.4% |
| Amounts payable | 17/49 | €1,010,129 | €1,212,175 | +€202,046 | +20.0% |
| Amounts payable after more than one year | 17 | €692,448 | €885,626 | +€193,178 | +27.9% |
| Financial debts | 170/4 | €692,448 | €885,626 | +€193,178 | +27.9% |
| Amounts payable within one year | 42/48 | €314,681 | €321,865 | +€7,184 | +2.3% |
| Current portion of amounts payable after more than one year | 42 | €52,528 | €48,128 | -€4,400 | -8.4% |
| Trade debts | 44 | €107,324 | €101,113 | -€6,211 | -5.8% |
| Suppliers | 440/4 | €107,324 | €101,113 | -€6,211 | -5.8% |
| Taxes, remuneration and social security | 45 | €154,829 | €170,504 | +€15,675 | +10.1% |
| Remuneration and social security | 454/9 | €154,829 | €170,504 | +€15,675 | +10.1% |
| Accrued charges and deferred income | 492/3 | €3,000 | €4,684 | +€1,684 | +56.1% |
| Turnover | 70 | - | €224,127 | +€224,127 | |
| Non-recurring operating income | 76A | €17,590 | €18,414 | +€824 | +4.7% |
| Goods, raw materials, services and sundry goods | 60/61 | - | €372,130 | +€372,130 | |
| Remuneration, social security and pensions | 62 | €1,451,381 | €1,552,797 | +€101,416 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,076 | €136,288 | -€21,788 | -13.8% |
| Other operating charges | 640/8 | €8,707 | €8,970 | +€263 | +3.0% |
| Non-recurring operating charges | 66A | €5,334 | €6,358 | +€1,024 | +19.2% |
| Gross operating margin | 9900 | €1,664,837 | €1,725,182 | +€60,345 | +3.6% |
| Operating profit (loss) | 9901 | €41,339 | €20,769 | -€20,570 | -49.8% |
| Financial income | 75/76B | €3,044 | €1,485 | -€1,559 | -51.2% |
| Recurring financial income | 75 | €3,044 | €1,485 | -€1,559 | -51.2% |
| Financial charges | 65/66B | €6,905 | €11,775 | +€4,870 | +70.5% |
| Recurring financial charges | 65 | €6,905 | €11,775 | +€4,870 | +70.5% |
| Profit (loss) for the period before taxes | 9903 | €37,478 | €10,479 | -€26,999 | -72.0% |
| Income taxes | 67/77 | €904 | €402 | -€502 | -55.5% |
| Profit (loss) for the period | 9904 | €36,574 | €10,077 | -€26,497 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €36,574 | €10,077 | -€26,497 | -72.4% |
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 8 October 2026 via checked.be.