IROKO SHIPPING & FORWARD: 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.
IROKO SHIPPING & FORWARD
Largest movements
- Receivables within one year +€125,770
up €125,770 (+38.7%), from €324,601 to €450,371
of which Trade receivables: +€161,152
- Cash +€66,865
up €66,865 (+27.3%), from €245,149 to €312,015
mainly Trade debts (+€188,177) and Other debts (+€99,346)
- Trade debts +€188,177
up €188,177 (+56.5%), from €333,243 to €521,420
- Other debts +€99,346
up €99,346 (+3,778%), from €2,630 to €101,975
- Reserves -€85,779
down €85,779 (-38.2%), from €224,814 to €139,035
- Short-term financial debts -€13,500
no longer reported in 2025 (was €13,500)
- Gross operating margin +€33,144
up €33,144 (+65.3%), from €50,791 to €83,935
- Taxes -€1,519
down €1,519 (-9.2%), from €16,588 to €15,069
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 | €580,387 | €768,631 | +€188,244 | +32.4% |
| Fixed assets | 21/28 | €10,636 | €6,245 | -€4,391 | -41.3% |
| Tangible fixed assets | 22/27 | €10,636 | €6,245 | -€4,391 | -41.3% |
| Plant, machinery and equipment | 23 | €204 | - | -€204 | |
| Furniture and vehicles | 24 | €10,433 | €6,245 | -€4,188 | -40.1% |
| Current assets | 29/58 | €569,750 | €762,385 | +€192,635 | +33.8% |
| Amounts receivable within one year | 40/41 | €324,601 | €450,371 | +€125,770 | +38.7% |
| Trade receivables | 40 | €258,416 | €419,568 | +€161,152 | +62.4% |
| Other amounts receivable | 41 | €66,185 | €30,802 | -€35,382 | -53.5% |
| Cash at bank and in hand | 54/58 | €245,149 | €312,015 | +€66,865 | +27.3% |
| Total equity and liabilities | 10/49 | €580,387 | €768,631 | +€188,244 | +32.4% |
| Equity | 10/15 | €231,014 | €145,235 | -€85,779 | -37.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €224,814 | €139,035 | -€85,779 | -38.2% |
| Distributable reserves | 133 | €224,814 | €139,035 | -€85,779 | -38.2% |
| Amounts payable | 17/49 | €349,373 | €623,395 | +€274,023 | +78.4% |
| Amounts payable within one year | 42/48 | €349,373 | €623,395 | +€274,023 | +78.4% |
| Financial debts | 43 | €13,500 | - | -€13,500 | |
| Credit institutions | 430/8 | €13,500 | - | -€13,500 | |
| Trade debts | 44 | €333,243 | €521,420 | +€188,177 | +56.5% |
| Suppliers | 440/4 | €333,243 | €521,420 | +€188,177 | +56.5% |
| Other amounts payable | 47/48 | €2,630 | €101,975 | +€99,346 | +3,778% |
| Non-recurring operating income | 76A | - | €1,140 | +€1,140 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,697 | €4,391 | -€306 | -6.5% |
| Other operating charges | 640/8 | €768 | €549 | -€219 | -28.5% |
| Non-recurring operating charges | 66A | - | €30,000 | +€30,000 | |
| Gross operating margin | 9900 | €50,791 | €83,935 | +€33,144 | +65.3% |
| Operating profit (loss) | 9901 | €45,326 | €48,995 | +€3,669 | +8.1% |
| Financial income | 75/76B | €817 | €14 | -€804 | -98.3% |
| Recurring financial income | 75 | €817 | €14 | -€804 | -98.3% |
| Financial charges | 65/66B | €2,784 | €2,248 | -€536 | -19.2% |
| Recurring financial charges | 65 | €2,784 | €2,248 | -€536 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €43,360 | €46,761 | +€3,401 | +7.8% |
| Income taxes | 67/77 | €16,588 | €15,069 | -€1,519 | -9.2% |
| Profit (loss) for the period | 9904 | €26,771 | €31,692 | +€4,920 | +18.4% |
| Profit (loss) for the period to be appropriated | 9905 | €26,771 | €31,692 | +€4,920 | +18.4% |
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 29 October 2026 via checked.be.