IHA: 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.
IHA
Largest movements
- Tangible fixed assets -€73,514
down €73,514 (-13.7%), from €538,181 to €464,666
of which Furniture and vehicles: -€46,275
- Receivables within one year -€70,621
down €70,621 (-13.9%), from €507,579 to €436,958
of which Trade receivables: -€52,755
- Stocks and contracts +€29,680
new in 2025: €29,680
- Deferred charges and accrued income +€28,474
up €28,474 (+234%), from €12,150 to €40,624
- Cash -€16,568
no longer reported in 2025 (was €16,568)
mainly Net result for the year (-€216,657) and Debts after one year (-€56,698)
- Profit (loss) carried forward -€196,312
new in 2025: -€196,312
- Trade debts +€143,724
up €143,724 (+29.1%), from €493,362 to €637,086
of which Suppliers: +€115,054
- Debts after one year -€56,698
down €56,698 (-15.2%), from €371,994 to €315,296
of which Financial debts: -€54,348
- Other debts +€17,343
new in 2025: €17,343
- Reserves -€13,888
down €13,888 (-12.9%), from €107,930 to €94,042
of which Distributable reserves: -€13,888
- Gross operating margin -€194,506
down €194,506, from €126,528 to -€67,978
- Other operating charges -€23,066
down €23,066 (-51.2%), from €45,028 to €21,962
- Staff costs +€6,056
up €6,056 (+8,253%), from €73 to €6,129
- Financial income -€4,631
down €4,631 (-52.6%), from €8,810 to €4,178
- Depreciation -€1,787
down €1,787 (-1.8%), from €102,001 to €100,214
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 | €1,074,478 | €971,928 | -€102,550 | -9.5% |
| Fixed assets | 21/28 | €538,181 | €464,666 | -€73,514 | -13.7% |
| Tangible fixed assets | 22/27 | €538,181 | €464,666 | -€73,514 | -13.7% |
| Land and buildings | 22 | €303,523 | €269,885 | -€33,638 | -11.1% |
| Plant, machinery and equipment | 23 | €443 | €11,589 | +€11,146 | +2,517% |
| Furniture and vehicles | 24 | €212,459 | €166,185 | -€46,275 | -21.8% |
| Leasing and similar rights | 25 | €21,755 | €17,007 | -€4,748 | -21.8% |
| Current assets | 29/58 | €536,297 | €507,262 | -€29,036 | -5.4% |
| Stocks and contracts in progress | 3 | - | €29,680 | +€29,680 | |
| Stocks | 30/36 | - | €29,680 | +€29,680 | |
| Amounts receivable within one year | 40/41 | €507,579 | €436,958 | -€70,621 | -13.9% |
| Trade receivables | 40 | €398,951 | €346,196 | -€52,755 | -13.2% |
| Other amounts receivable | 41 | €108,628 | €90,762 | -€17,866 | -16.4% |
| Cash at bank and in hand | 54/58 | €16,568 | - | -€16,568 | |
| Deferred charges and accrued income | 490/1 | €12,150 | €40,624 | +€28,474 | +234% |
| Total equity and liabilities | 10/49 | €1,074,478 | €971,928 | -€102,550 | -9.5% |
| Equity | 10/15 | €114,430 | -€95,770 | -€210,200 | |
| Contributions | 10/11 | €6,500 | €6,500 | = | 0.0% |
| Contributions outside capital | 11 | €6,500 | €6,500 | = | 0.0% |
| Other | 1109/19 | €6,500 | €6,500 | = | 0.0% |
| Reserves | 13 | €107,930 | €94,042 | -€13,888 | -12.9% |
| Non-distributable reserves | 130/1 | €12,292 | €12,292 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,292 | €12,292 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,250 | €48,250 | = | 0.0% |
| Distributable reserves | 133 | €47,388 | €33,500 | -€13,888 | -29.3% |
| Profit (loss) carried forward | 14 | - | -€196,312 | -€196,312 | |
| Amounts payable | 17/49 | €960,048 | €1,067,698 | +€107,650 | +11.2% |
| Amounts payable after more than one year | 17 | €371,994 | €315,296 | -€56,698 | -15.2% |
| Financial debts | 170/4 | €366,744 | €312,396 | -€54,348 | -14.8% |
| Other amounts payable | 178/9 | €5,250 | €2,900 | -€2,350 | -44.8% |
| Amounts payable within one year | 42/48 | €588,054 | €752,402 | +€164,348 | +27.9% |
| Current portion of amounts payable after more than one year | 42 | €78,006 | €84,748 | +€6,742 | +8.6% |
| Trade debts | 44 | €493,362 | €637,086 | +€143,724 | +29.1% |
| Suppliers | 440/4 | €493,362 | €608,416 | +€115,054 | +23.3% |
| Bills of exchange payable | 441 | - | €28,670 | +€28,670 | |
| Taxes, remuneration and social security | 45 | €16,686 | €13,225 | -€3,461 | -20.7% |
| Taxes | 450/3 | €577 | €3,236 | +€2,659 | +461% |
| Remuneration and social security | 454/9 | €16,109 | €9,989 | -€6,120 | -38.0% |
| Other amounts payable | 47/48 | - | €17,343 | +€17,343 | |
| Remuneration, social security and pensions | 62 | €73 | €6,129 | +€6,056 | +8,253% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,001 | €100,214 | -€1,787 | -1.8% |
| Other operating charges | 640/8 | €45,028 | €21,962 | -€23,066 | -51.2% |
| Non-recurring operating charges | 66A | - | €6,457 | +€6,457 | |
| Gross operating margin | 9900 | €126,528 | -€67,978 | -€194,506 | |
| Operating profit (loss) | 9901 | -€20,573 | -€202,740 | -€182,167 | -885% |
| Financial income | 75/76B | €8,810 | €4,178 | -€4,631 | -52.6% |
| Recurring financial income | 75 | €8,810 | €4,178 | -€4,631 | -52.6% |
| Financial charges | 65/66B | €18,732 | €17,626 | -€1,106 | -5.9% |
| Recurring financial charges | 65 | €18,732 | €17,626 | -€1,106 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | -€30,496 | -€216,188 | -€185,692 | -609% |
| Income taxes | 67/77 | €1,508 | €469 | -€1,039 | -68.9% |
| Profit (loss) for the period | 9904 | -€32,003 | -€216,657 | -€184,654 | -577% |
| Profit (loss) for the period to be appropriated | 9905 | -€32,003 | -€216,657 | -€184,654 | -577% |
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 14 October 2026 via checked.be.