A.I.V.M.: 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.
A.I.V.M.
Largest movements
- Receivables within one year -€22,042
down €22,042 (-21.3%), from €103,273 to €81,231
of which Trade receivables: -€21,068
- Cash +€11,591
up €11,591 (+61.0%), from €18,998 to €30,589
mainly Receivables within one year (+€22,042) and Depreciation (+€5,420)
- Tangible fixed assets -€5,420
down €5,420 (-10.5%), from €51,468 to €46,048
- Profit (loss) carried forward -€18,920
down €18,920 (-100%), from €18,920 to €0
- Reserves +€13,919
up €13,919 (+509%), from €2,735 to €16,654
of which Distributable reserves: +€13,919
- Trade debts -€8,799
down €8,799 (-12.9%), from €68,465 to €59,666
- Tax, wage and social debts -€2,072
down €2,072 (-100%), from €2,072 to €0
- Gross operating margin -€12,367
down €12,367 (-87.9%), from €14,075 to €1,708
- Depreciation +€2,688
up €2,688 (+98.4%), from €2,732 to €5,420
- Taxes -€2,072
down €2,072 (-100%), from €2,072 to €0
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 | €173,739 | €157,868 | -€15,872 | -9.1% |
| Fixed assets | 21/28 | €51,468 | €46,048 | -€5,420 | -10.5% |
| Tangible fixed assets | 22/27 | €51,468 | €46,048 | -€5,420 | -10.5% |
| Furniture and vehicles | 24 | €51,468 | €46,048 | -€5,420 | -10.5% |
| Current assets | 29/58 | €122,271 | €111,820 | -€10,452 | -8.5% |
| Amounts receivable within one year | 40/41 | €103,273 | €81,231 | -€22,042 | -21.3% |
| Trade receivables | 40 | €30,068 | €9,000 | -€21,068 | -70.1% |
| Other amounts receivable | 41 | €73,205 | €72,231 | -€975 | -1.3% |
| Cash at bank and in hand | 54/58 | €18,998 | €30,589 | +€11,591 | +61.0% |
| Total equity and liabilities | 10/49 | €173,739 | €157,868 | -€15,872 | -9.1% |
| Equity | 10/15 | €40,255 | €35,254 | -€5,001 | -12.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,735 | €16,654 | +€13,919 | +509% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €875 | €14,794 | +€13,919 | +1,591% |
| Profit (loss) carried forward | 14 | €18,920 | €0 | -€18,920 | -100% |
| Amounts payable | 17/49 | €133,484 | €122,613 | -€10,870 | -8.1% |
| Amounts payable within one year | 42/48 | €133,484 | €122,613 | -€10,870 | -8.1% |
| Trade debts | 44 | €68,465 | €59,666 | -€8,799 | -12.9% |
| Suppliers | 440/4 | €68,465 | €59,666 | -€8,799 | -12.9% |
| Taxes, remuneration and social security | 45 | €2,072 | €0 | -€2,072 | -100% |
| Taxes | 450/3 | €2,072 | €0 | -€2,072 | -100% |
| Other amounts payable | 47/48 | €62,948 | €62,948 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,732 | €5,420 | +€2,688 | +98.4% |
| Other operating charges | 640/8 | €611 | €507 | -€104 | -17.0% |
| Gross operating margin | 9900 | €14,075 | €1,708 | -€12,367 | -87.9% |
| Operating profit (loss) | 9901 | €10,731 | -€4,219 | -€14,950 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €253 | €237 | -€16 | -6.3% |
| Recurring financial charges | 65 | €253 | €237 | -€16 | -6.3% |
| Profit (loss) for the period before taxes | 9903 | €10,478 | -€4,454 | -€14,932 | |
| Income taxes | 67/77 | €2,072 | €0 | -€2,072 | -100% |
| Profit (loss) for the period | 9904 | €8,406 | -€4,454 | -€12,860 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,406 | -€4,454 | -€12,860 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.