IRoAD: 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.
IRoAD
Largest movements
- Receivables within one year +€147,594
up €147,594 (+37.5%), from €393,549 to €541,143
of which Other amounts receivable: +€127,716
- Cash +€19,688
up €19,688 (+8.6%), from €229,692 to €249,380
mainly Net result for the year (+€181,977) and Other debts (+€98,538)
- Other debts +€98,538
up €98,538 (+160%), from €61,462 to €160,000
- Trade debts +€52,485
up €52,485 (+76.6%), from €68,535 to €121,021
- Profit (loss) carried forward +€21,977
up €21,977 (+37.3%), from €58,844 to €80,821
- Tax, wage and social debts +€19,080
up €19,080 (+55.9%), from €34,126 to €53,205
of which Taxes: +€16,825
- Accrued charges and deferred income -€15,510
down €15,510 (-13.3%), from €116,259 to €100,749
- Gross operating margin +€138,660
up €138,660 (+63.0%), from €219,978 to €358,638
- Staff costs +€26,966
up €26,966 (+21.8%), from €123,494 to €150,460
- Financial charges -€8,674
down €8,674 (-78.1%), from €11,107 to €2,433
- Taxes +€5,186
up €5,186 (+98.9%), from €5,242 to €10,428
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €637,898 | €808,202 | +€170,304 | +26.7% |
| Fixed assets | 21/28 | €14,658 | €17,243 | +€2,585 | +17.6% |
| Tangible fixed assets | 22/27 | €14,467 | €17,051 | +€2,585 | +17.9% |
| Furniture and vehicles | 24 | €14,467 | €17,051 | +€2,585 | +17.9% |
| Financial fixed assets | 28 | €191 | €191 | = | 0.0% |
| Current assets | 29/58 | €623,240 | €790,960 | +€167,719 | +26.9% |
| Amounts receivable within one year | 40/41 | €393,549 | €541,143 | +€147,594 | +37.5% |
| Trade receivables | 40 | €163,452 | €183,329 | +€19,878 | +12.2% |
| Other amounts receivable | 41 | €230,097 | €357,813 | +€127,716 | +55.5% |
| Cash at bank and in hand | 54/58 | €229,692 | €249,380 | +€19,688 | +8.6% |
| Deferred charges and accrued income | 490/1 | - | €437 | +€437 | |
| Total equity and liabilities | 10/49 | €637,898 | €808,202 | +€170,304 | +26.7% |
| Equity | 10/15 | €341,844 | €363,821 | +€21,977 | +6.4% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €253,000 | €253,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,844 | €80,821 | +€21,977 | +37.3% |
| Amounts payable | 17/49 | €296,055 | €444,381 | +€148,327 | +50.1% |
| Amounts payable after more than one year | 17 | €9,407 | €2,833 | -€6,573 | -69.9% |
| Financial debts | 170/4 | €9,407 | €2,833 | -€6,573 | -69.9% |
| Amounts payable within one year | 42/48 | €170,389 | €340,799 | +€170,410 | +100% |
| Current portion of amounts payable after more than one year | 42 | €6,266 | €6,573 | +€308 | +4.9% |
| Trade debts | 44 | €68,535 | €121,021 | +€52,485 | +76.6% |
| Suppliers | 440/4 | €68,535 | €121,021 | +€52,485 | +76.6% |
| Taxes, remuneration and social security | 45 | €34,126 | €53,205 | +€19,080 | +55.9% |
| Taxes | 450/3 | €7,275 | €24,100 | +€16,825 | +231% |
| Remuneration and social security | 454/9 | €26,851 | €29,105 | +€2,254 | +8.4% |
| Other amounts payable | 47/48 | €61,462 | €160,000 | +€98,538 | +160% |
| Accrued charges and deferred income | 492/3 | €116,259 | €100,749 | -€15,510 | -13.3% |
| Remuneration, social security and pensions | 62 | €123,494 | €150,460 | +€26,966 | +21.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,096 | €12,194 | +€2,097 | +20.8% |
| Other operating charges | 640/8 | €695 | €1,146 | +€452 | +65.1% |
| Gross operating margin | 9900 | €219,978 | €358,638 | +€138,660 | +63.0% |
| Operating profit (loss) | 9901 | €85,693 | €194,838 | +€109,145 | +127% |
| Financial income | 75/76B | €160 | €0 | -€160 | -99.9% |
| Recurring financial income | 75 | €160 | €0 | -€160 | -99.9% |
| Financial charges | 65/66B | €11,107 | €2,433 | -€8,674 | -78.1% |
| Recurring financial charges | 65 | €11,107 | €2,433 | -€8,674 | -78.1% |
| Profit (loss) for the period before taxes | 9903 | €74,746 | €192,405 | +€117,659 | +157% |
| Income taxes | 67/77 | €5,242 | €10,428 | +€5,186 | +98.9% |
| Profit (loss) for the period | 9904 | €69,504 | €181,977 | +€112,473 | +162% |
| Profit (loss) for the period to be appropriated | 9905 | €69,504 | €181,977 | +€112,473 | +162% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.