Iron Sheet: 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.
What changed
Iron Sheet
NACE 70.200, Business and other management consultancy
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€11,670
2025 · €14,285-€2,615
Equity
€718,849
2025 · €707,179+€11,670
Cash
€44,484
2025 · €35,719+€8,765
Balance sheet total
€1.9m
2025 · €2.1m-€223,631
Largest movements
Assets
- Receivables within one year -€166,822
down €166,822 (-12.8%), from €1.3m to €1.1m
of which Trade receivables: -€127,293
- Tangible fixed assets -€63,040
down €63,040 (-8.3%), from €761,417 to €698,377
Equity and liabilities
- Trade debts -€87,776
down €87,776 (-62.4%), from €140,594 to €52,819
- Debts after one year -€65,719
down €65,719 (-9.5%), from €690,152 to €624,432
- Current portion of long-term debt -€41,240
down €41,240 (-40.6%), from €101,596 to €60,356
- Other debts -€39,905
down €39,905 (-9.1%), from €439,905 to €400,000
Income statement
- Turnover -€12,672
down €12,672 (-2.8%), from €446,695 to €434,022
- Financial charges -€8,417
down €8,417 (-16.7%), from €50,503 to €42,086
From the 2025 result to the 2026 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 2025
€14,285
Turnover
-€12,672
Services and other goods
+€3,074
Depreciation
-€1,758
Other operating charges
-€588
Financial charges
+€8,417
Taxes
+€911
Result 2026
€11,670
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€115,724
Investment
€0
Financing
-€106,959
Cash 2025
€35,719
From operations (derived)
+€115,724
Net result for the year
+€11,670
Depreciation
+€63,040
Receivables within one year
+€166,822
Deferred charges and accrued income
+€2,534
Trade debts
-€87,776
Tax, wage and social debts
-€661
Other debts
-€39,905
Financing
-€106,959
Debts after one year
-€65,719
Current portion of long-term debt
-€41,240
Cash 2026
€44,484
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,103,824 | €1,880,193 | -€223,631 | -10.6% |
| Fixed assets | 21/28 | €761,418 | €698,378 | -€63,040 | -8.3% |
| Tangible fixed assets | 22/27 | €761,417 | €698,377 | -€63,040 | -8.3% |
| Leasing and similar rights | 25 | €761,417 | €698,377 | -€63,040 | -8.3% |
| Financial fixed assets | 28 | €1 | €1 | = | 0.0% |
| Affiliated companies | 280/1 | €1 | €1 | = | 0.0% |
| Participating interests | 280 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €1,342,406 | €1,181,814 | -€160,591 | -12.0% |
| Amounts receivable within one year | 40/41 | €1,301,566 | €1,134,744 | -€166,822 | -12.8% |
| Trade receivables | 40 | €127,293 | - | -€127,293 | |
| Other amounts receivable | 41 | €1,174,273 | €1,134,744 | -€39,529 | -3.4% |
| Cash at bank and in hand | 54/58 | €35,719 | €44,484 | +€8,765 | +24.5% |
| Deferred charges and accrued income | 490/1 | €5,121 | €2,587 | -€2,534 | -49.5% |
| Total equity and liabilities | 10/49 | €2,103,824 | €1,880,193 | -€223,631 | -10.6% |
| Equity | 10/15 | €707,179 | €718,849 | +€11,670 | +1.7% |
| Contributions | 10/11 | €562,000 | €562,000 | = | 0.0% |
| Capital | 10 | €562,000 | €562,000 | = | 0.0% |
| Issued capital | 100 | €562,000 | €562,000 | = | 0.0% |
| Reserves | 13 | €8,172 | €8,756 | +€583 | +7.1% |
| Non-distributable reserves | 130/1 | €8,172 | €8,756 | +€583 | +7.1% |
| Legal reserve | 130 | €8,172 | €8,756 | +€583 | +7.1% |
| Profit (loss) carried forward | 14 | €137,007 | €148,093 | +€11,086 | +8.1% |
| Amounts payable | 17/49 | €1,396,645 | €1,161,344 | -€235,301 | -16.8% |
| Amounts payable after more than one year | 17 | €690,152 | €624,432 | -€65,719 | -9.5% |
| Financial debts | 170/4 | €690,152 | €624,432 | -€65,719 | -9.5% |
| Leasing and similar obligations | 172 | €690,152 | €624,432 | -€65,719 | -9.5% |
| Amounts payable within one year | 42/48 | €706,493 | €536,912 | -€169,581 | -24.0% |
| Current portion of amounts payable after more than one year | 42 | €101,596 | €60,356 | -€41,240 | -40.6% |
| Financial debts | 43 | €9,500 | €9,500 | = | 0.0% |
| Credit institutions | 430/8 | €9,500 | €9,500 | = | 0.0% |
| Trade debts | 44 | €140,594 | €52,819 | -€87,776 | -62.4% |
| Suppliers | 440/4 | €140,594 | €52,819 | -€87,776 | -62.4% |
| Taxes, remuneration and social security | 45 | €14,898 | €14,237 | -€661 | -4.4% |
| Taxes | 450/3 | €6,270 | €5,575 | -€695 | -11.1% |
| Remuneration and social security | 454/9 | €8,628 | €8,662 | +€34 | +0.4% |
| Other amounts payable | 47/48 | €439,905 | €400,000 | -€39,905 | -9.1% |
| Operating income | 70/76A | €446,695 | €434,022 | -€12,672 | -2.8% |
| Turnover | 70 | €446,695 | €434,022 | -€12,672 | -2.8% |
| Operating charges | 60/66A | €377,105 | €376,376 | -€729 | -0.2% |
| Services and other goods | 61 | €297,091 | €294,017 | -€3,074 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,282 | €63,040 | +€1,758 | +2.9% |
| Other operating charges | 640/8 | €18,732 | €19,320 | +€588 | +3.1% |
| Operating profit (loss) | 9901 | €69,589 | €57,646 | -€11,943 | -17.2% |
| Financial charges | 65/66B | €50,503 | €42,086 | -€8,417 | -16.7% |
| Recurring financial charges | 65 | €50,503 | €42,086 | -€8,417 | -16.7% |
| Debt charges | 650 | €50,503 | - | -€50,503 | |
| Other financial charges | 652/9 | - | €42,086 | +€42,086 | |
| Profit (loss) for the period before taxes | 9903 | €19,086 | €15,560 | -€3,526 | -18.5% |
| Income taxes | 67/77 | €4,801 | €3,890 | -€911 | -19.0% |
| Taxes | 670/3 | €4,801 | €3,890 | -€911 | -19.0% |
| Profit (loss) for the period | 9904 | €14,285 | €11,670 | -€2,615 | -18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €14,285 | €11,670 | -€2,615 | -18.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.