IV-geo: 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.
IV-geo
Largest movements
- Cash +€97,280
up €97,280 (+87.7%), from €110,868 to €208,148
mainly Net result for the year (+€105,910) and Tax, wage and social debts (+€6,228)
- Receivables within one year +€9,799
up €9,799 (+32.0%), from €30,605 to €40,404
of which Trade receivables: +€12,699
- Stocks and contracts +€6,034
up €6,034 (+98.3%), from €6,141 to €12,176
- Reserves +€105,910
up €105,910 (+87.6%), from €120,957 to €226,867
- Tax, wage and social debts +€6,228
up €6,228 (+64.6%), from €9,634 to €15,862
- Gross operating margin +€27,058
up €27,058 (+24.3%), from €111,471 to €138,529
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 | €151,522 | €264,192 | +€112,670 | +74.4% |
| Fixed assets | 21/28 | €3,907 | €3,464 | -€443 | -11.3% |
| Tangible fixed assets | 22/27 | €3,907 | €3,464 | -€443 | -11.3% |
| Plant, machinery and equipment | 23 | €1,039 | €1,801 | +€763 | +73.4% |
| Furniture and vehicles | 24 | €2,869 | €1,663 | -€1,206 | -42.0% |
| Current assets | 29/58 | €147,615 | €260,728 | +€113,113 | +76.6% |
| Stocks and contracts in progress | 3 | €6,141 | €12,176 | +€6,034 | +98.3% |
| Stocks | 30/36 | €6,141 | €12,176 | +€6,034 | +98.3% |
| Amounts receivable within one year | 40/41 | €30,605 | €40,404 | +€9,799 | +32.0% |
| Trade receivables | 40 | €27,705 | €40,404 | +€12,699 | +45.8% |
| Other amounts receivable | 41 | €2,900 | €0 | -€2,900 | -100.0% |
| Cash at bank and in hand | 54/58 | €110,868 | €208,148 | +€97,280 | +87.7% |
| Total equity and liabilities | 10/49 | €151,522 | €264,192 | +€112,670 | +74.4% |
| Equity | 10/15 | €122,957 | €228,867 | +€105,910 | +86.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €120,957 | €226,867 | +€105,910 | +87.6% |
| Distributable reserves | 133 | €120,957 | €226,867 | +€105,910 | +87.6% |
| Amounts payable | 17/49 | €28,565 | €35,325 | +€6,760 | +23.7% |
| Amounts payable within one year | 42/48 | €28,565 | €35,325 | +€6,760 | +23.7% |
| Trade debts | 44 | €18,931 | €18,864 | -€67 | -0.4% |
| Suppliers | 440/4 | €18,931 | €18,864 | -€67 | -0.4% |
| Taxes, remuneration and social security | 45 | €9,634 | €15,862 | +€6,228 | +64.6% |
| Taxes | 450/3 | €9,634 | €15,862 | +€6,228 | +64.6% |
| Other amounts payable | 47/48 | - | €599 | +€599 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €702 | €2,078 | +€1,376 | +195.9% |
| Other operating charges | 640/8 | €957 | €819 | -€138 | -14.4% |
| Gross operating margin | 9900 | €111,471 | €138,529 | +€27,058 | +24.3% |
| Operating profit (loss) | 9901 | €109,812 | €135,632 | +€25,820 | +23.5% |
| Financial charges | 65/66B | €140 | €98 | -€41 | -29.4% |
| Recurring financial charges | 65 | €140 | €98 | -€41 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €109,673 | €135,534 | +€25,861 | +23.6% |
| Income taxes | 67/77 | €30,593 | €29,623 | -€970 | -3.2% |
| Profit (loss) for the period | 9904 | €79,080 | €105,910 | +€26,831 | +33.9% |
| Profit (loss) for the period to be appropriated | 9905 | €79,080 | €105,910 | +€26,831 | +33.9% |
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 4 October 2026 via checked.be.