IX-ANALYTICS: 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.
IX-ANALYTICS
Largest movements
- Receivables within one year +€51,022
up €51,022 (+67.6%), from €75,477 to €126,500
of which Trade receivables: +€38,507
- Cash -€21,080
down €21,080 (-38.7%), from €54,501 to €33,421
mainly Receivables within one year (-€51,022) and Tax, wage and social debts (-€7,776)
- Receivables after one year +€4,961
up €4,961 (+2.4%), from €207,828 to €212,789
- Trade debts +€41,123
up €41,123 (+149.7%), from €27,468 to €68,592
- Tax, wage and social debts -€7,776
down €7,776 (-36.8%), from €21,126 to €13,350
- Gross operating margin -€62,137
down €62,137 (-90.9%), from €68,330 to €6,193
- Write-downs +€41,739
no longer reported in 2025 (was -€41,739)
- Other operating charges -€35,922
down €35,922 (-82.2%), from €43,697 to €7,775
- Taxes -€19,345
down €19,345 (-87.6%), from €22,092 to €2,747
- Depreciation +€718
up €718 (+116.4%), from €617 to €1,334
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 | €341,080 | €376,208 | +€35,128 | +10.3% |
| Fixed assets | 21/28 | €2,012 | €2,330 | +€318 | +15.8% |
| Tangible fixed assets | 22/27 | €1,742 | €2,060 | +€318 | +18.2% |
| Furniture and vehicles | 24 | €1,742 | €2,060 | +€318 | +18.2% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €339,068 | €373,879 | +€34,811 | +10.3% |
| Amounts receivable after more than one year | 29 | €207,828 | €212,789 | +€4,961 | +2.4% |
| Other amounts receivable | 291 | €207,828 | €212,789 | +€4,961 | +2.4% |
| Amounts receivable within one year | 40/41 | €75,477 | €126,500 | +€51,022 | +67.6% |
| Trade receivables | 40 | €27,544 | €66,052 | +€38,507 | +139.8% |
| Other amounts receivable | 41 | €47,933 | €60,448 | +€12,515 | +26.1% |
| Cash at bank and in hand | 54/58 | €54,501 | €33,421 | -€21,080 | -38.7% |
| Deferred charges and accrued income | 490/1 | €1,261 | €1,169 | -€92 | -7.3% |
| Total equity and liabilities | 10/49 | €341,080 | €376,208 | +€35,128 | +10.3% |
| Equity | 10/15 | €292,485 | €294,266 | +€1,781 | +0.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €160,381 | €160,381 | = | 0.0% |
| Distributable reserves | 133 | €160,381 | €160,381 | = | 0.0% |
| Profit (loss) carried forward | 14 | €124,044 | €125,825 | +€1,781 | +1.4% |
| Amounts payable | 17/49 | €48,595 | €81,942 | +€33,348 | +68.6% |
| Amounts payable within one year | 42/48 | €48,595 | €81,942 | +€33,348 | +68.6% |
| Trade debts | 44 | €27,468 | €68,592 | +€41,123 | +149.7% |
| Suppliers | 440/4 | €27,468 | €68,592 | +€41,123 | +149.7% |
| Taxes, remuneration and social security | 45 | €21,126 | €13,350 | -€7,776 | -36.8% |
| Taxes | 450/3 | €21,126 | €13,350 | -€7,776 | -36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €617 | €1,334 | +€718 | +116.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€41,739 | - | +€41,739 | |
| Other operating charges | 640/8 | €43,697 | €7,775 | -€35,922 | -82.2% |
| Gross operating margin | 9900 | €68,330 | €6,193 | -€62,137 | -90.9% |
| Operating profit (loss) | 9901 | €65,755 | -€2,916 | -€68,671 | |
| Financial income | 75/76B | €6,888 | €7,567 | +€679 | +9.9% |
| Recurring financial income | 75 | €6,888 | €7,567 | +€679 | +9.9% |
| Financial charges | 65/66B | €332 | €123 | -€208 | -62.8% |
| Recurring financial charges | 65 | €332 | €123 | -€208 | -62.8% |
| Profit (loss) for the period before taxes | 9903 | €72,312 | €4,528 | -€67,784 | -93.7% |
| Income taxes | 67/77 | €22,092 | €2,747 | -€19,345 | -87.6% |
| Profit (loss) for the period | 9904 | €50,220 | €1,781 | -€48,439 | -96.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,220 | €1,781 | -€48,439 | -96.5% |
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 1 October 2026 via checked.be.