IRONA: 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.
IRONA
Largest movements
- Tangible fixed assets -€41,688
down €41,688 (-6.1%), from €682,464 to €640,777
of which Land and buildings: -€23,125
- Cash +€36,364
up €36,364 (+25.7%), from €141,441 to €177,805
mainly Net result for the year (+€264,306) and Other debts (+€172,143)
- Receivables within one year -€14,798
down €14,798 (-98.7%), from €14,995 to €197
of which Other amounts receivable: -€13,373
- Current investments +€12,254
up €12,254 (+35.9%), from €34,169 to €46,423
- Other debts +€172,143
up €172,143 (+96.4%), from €178,500 to €350,643
- Reserves -€125,694
down €125,694 (-51.8%), from €242,686 to €116,992
- Debts after one year -€79,091
down €79,091 (-23.1%), from €342,025 to €262,935
- Tax, wage and social debts +€20,894
up €20,894 (+92.8%), from €22,509 to €43,403
of which Taxes: +€20,551
- Gross operating margin +€105,541
up €105,541 (+22.0%), from €479,630 to €585,172
- Taxes +€30,083
up €30,083 (+54.2%), from €55,508 to €85,590
- Staff costs +€14,198
up €14,198 (+8.9%), from €159,971 to €174,170
- Depreciation -€6,110
down €6,110 (-11.2%), from €54,580 to €48,471
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 | €932,310 | €919,443 | -€12,867 | -1.4% |
| Fixed assets | 21/28 | €682,464 | €640,777 | -€41,688 | -6.1% |
| Tangible fixed assets | 22/27 | €682,464 | €640,777 | -€41,688 | -6.1% |
| Land and buildings | 22 | €635,001 | €611,876 | -€23,125 | -3.6% |
| Plant, machinery and equipment | 23 | €44,400 | €26,387 | -€18,013 | -40.6% |
| Furniture and vehicles | 24 | €3,063 | €2,514 | -€549 | -17.9% |
| Current assets | 29/58 | €249,845 | €278,666 | +€28,821 | +11.5% |
| Stocks and contracts in progress | 3 | €51,529 | €45,537 | -€5,993 | -11.6% |
| Stocks | 30/36 | €51,529 | €45,537 | -€5,993 | -11.6% |
| Amounts receivable within one year | 40/41 | €14,995 | €197 | -€14,798 | -98.7% |
| Trade receivables | 40 | €1,622 | €197 | -€1,425 | -87.8% |
| Other amounts receivable | 41 | €13,373 | €0 | -€13,373 | -100% |
| Current investments | 50/53 | €34,169 | €46,423 | +€12,254 | +35.9% |
| Cash at bank and in hand | 54/58 | €141,441 | €177,805 | +€36,364 | +25.7% |
| Deferred charges and accrued income | 490/1 | €7,711 | €8,705 | +€994 | +12.9% |
| Total equity and liabilities | 10/49 | €932,310 | €919,443 | -€12,867 | -1.4% |
| Equity | 10/15 | €261,236 | €135,542 | -€125,694 | -48.1% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €242,686 | €116,992 | -€125,694 | -51.8% |
| Distributable reserves | 133 | €242,686 | €116,992 | -€125,694 | -51.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €671,074 | €783,901 | +€112,827 | +16.8% |
| Amounts payable after more than one year | 17 | €342,025 | €262,935 | -€79,091 | -23.1% |
| Financial debts | 170/4 | €342,025 | €262,935 | -€79,091 | -23.1% |
| Amounts payable within one year | 42/48 | €327,383 | €519,647 | +€192,263 | +58.7% |
| Current portion of amounts payable after more than one year | 42 | €78,206 | €79,091 | +€884 | +1.1% |
| Trade debts | 44 | €48,168 | €46,510 | -€1,658 | -3.4% |
| Suppliers | 440/4 | €48,168 | €46,510 | -€1,658 | -3.4% |
| Taxes, remuneration and social security | 45 | €22,509 | €43,403 | +€20,894 | +92.8% |
| Taxes | 450/3 | €5,288 | €25,839 | +€20,551 | +389% |
| Remuneration and social security | 454/9 | €17,221 | €17,564 | +€343 | +2.0% |
| Other amounts payable | 47/48 | €178,500 | €350,643 | +€172,143 | +96.4% |
| Accrued charges and deferred income | 492/3 | €1,665 | €1,320 | -€345 | -20.7% |
| Remuneration, social security and pensions | 62 | €159,971 | €174,170 | +€14,198 | +8.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,580 | €48,471 | -€6,110 | -11.2% |
| Other operating charges | 640/8 | €5,999 | €5,226 | -€773 | -12.9% |
| Gross operating margin | 9900 | €479,630 | €585,172 | +€105,541 | +22.0% |
| Operating profit (loss) | 9901 | €259,079 | €357,305 | +€98,226 | +37.9% |
| Financial income | 75/76B | €1,375 | €997 | -€378 | -27.5% |
| Recurring financial income | 75 | €1,375 | €997 | -€378 | -27.5% |
| Financial charges | 65/66B | €10,195 | €8,407 | -€1,788 | -17.5% |
| Recurring financial charges | 65 | €10,195 | €8,407 | -€1,788 | -17.5% |
| Profit (loss) for the period before taxes | 9903 | €250,260 | €349,896 | +€99,637 | +39.8% |
| Income taxes | 67/77 | €55,508 | €85,590 | +€30,083 | +54.2% |
| Profit (loss) for the period | 9904 | €194,752 | €264,306 | +€69,554 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €194,752 | €264,306 | +€69,554 | +35.7% |
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 21 October 2026 via checked.be.