Dr. IVENS D.: 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.
What changed
Dr. IVENS D.
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€238,392
2024 · €243,050-€4,658
Equity
€1.0m
2024 · €860,432+€145,405
Cash
€130,041
2024 · €134,788-€4,747
Balance sheet total
€1.0m
2024 · €912,307+€112,062
Largest movements
Assets
- Current investments +€149,966
up €149,966 (+57.7%), from €260,000 to €409,966
- Tangible fixed assets -€35,557
down €35,557 (-11.5%), from €308,643 to €273,086
of which Furniture and vehicles: -€32,499
Equity and liabilities
- Reserves +€145,405
up €145,405 (+17.3%), from €841,832 to €987,237
- Tax, wage and social debts -€22,040
down €22,040 (-62.0%), from €35,571 to €13,531
Income statement
- Other operating charges +€11,502
up €11,502 (+623%), from €1,846 to €13,348
- Gross operating margin +€6,855
up €6,855 (+1.7%), from €401,006 to €407,861
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.
Result 2024
€243,050
Gross operating margin
+€6,855
Depreciation
-€3,541
Other operating charges
-€11,502
Financial income
+€1,231
Financial charges
-€11
Taxes
+€2,311
Result 2025
€238,392
raises the resultlowers the result
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.
From operations
+€260,654
Investment
-€163,621
Financing
-€101,780
Cash 2024
€134,788
From operations (derived)
+€260,654
Net result for the year
+€238,392
Depreciation
+€49,212
Receivables within one year
-€2,895
Deferred charges and accrued income
+€495
Trade debts
-€2,509
Tax, wage and social debts
-€22,040
Investment (derived)
-€163,621
Investment in fixed assets (net)
-€13,655
Current investments
-€149,966
Financing
-€101,780
Current portion of long-term debt
-€8,793
Contributions, distributions and other
-€92,987
Cash 2025
€130,041
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €912,307 | €1,024,369 | +€112,062 | +12.3% |
| Fixed assets | 21/28 | €308,643 | €273,086 | -€35,557 | -11.5% |
| Tangible fixed assets | 22/27 | €308,643 | €273,086 | -€35,557 | -11.5% |
| Land and buildings | 22 | €191,526 | €183,680 | -€7,846 | -4.1% |
| Plant, machinery and equipment | 23 | - | €1,298 | +€1,298 | |
| Furniture and vehicles | 24 | €117,117 | €84,618 | -€32,499 | -27.7% |
| Other tangible fixed assets | 26 | €0 | €3,490 | +€3,490 | |
| Current assets | 29/58 | €603,664 | €751,283 | +€147,619 | +24.5% |
| Amounts receivable within one year | 40/41 | €205,939 | €208,834 | +€2,895 | +1.4% |
| Trade receivables | 40 | €199,714 | €205,100 | +€5,387 | +2.7% |
| Other amounts receivable | 41 | €6,225 | €3,734 | -€2,491 | -40.0% |
| Current investments | 50/53 | €260,000 | €409,966 | +€149,966 | +57.7% |
| Cash at bank and in hand | 54/58 | €134,788 | €130,041 | -€4,747 | -3.5% |
| Deferred charges and accrued income | 490/1 | €2,937 | €2,442 | -€495 | -16.9% |
| Total equity and liabilities | 10/49 | €912,307 | €1,024,369 | +€112,062 | +12.3% |
| Equity | 10/15 | €860,432 | €1,005,837 | +€145,405 | +16.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €841,832 | €987,237 | +€145,405 | +17.3% |
| Distributable reserves | 133 | €841,832 | €987,237 | +€145,405 | +17.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €51,874 | €18,532 | -€33,342 | -64.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €51,874 | €18,532 | -€33,342 | -64.3% |
| Current portion of amounts payable after more than one year | 42 | €8,793 | €0 | -€8,793 | -100% |
| Trade debts | 44 | €7,511 | €5,001 | -€2,509 | -33.4% |
| Suppliers | 440/4 | €7,511 | €5,001 | -€2,509 | -33.4% |
| Taxes, remuneration and social security | 45 | €35,571 | €13,531 | -€22,040 | -62.0% |
| Taxes | 450/3 | €35,571 | €13,531 | -€22,040 | -62.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,671 | €49,212 | +€3,541 | +7.8% |
| Other operating charges | 640/8 | €1,846 | €13,348 | +€11,502 | +623% |
| Gross operating margin | 9900 | €401,006 | €407,861 | +€6,855 | +1.7% |
| Operating profit (loss) | 9901 | €353,489 | €345,301 | -€8,188 | -2.3% |
| Financial income | 75/76B | €2,229 | €3,460 | +€1,231 | +55.2% |
| Recurring financial income | 75 | €2,229 | €3,460 | +€1,231 | +55.2% |
| Financial charges | 65/66B | €1,519 | €1,530 | +€11 | +0.7% |
| Recurring financial charges | 65 | €1,519 | €1,530 | +€11 | +0.7% |
| Profit (loss) for the period before taxes | 9903 | €354,199 | €347,230 | -€6,968 | -2.0% |
| Income taxes | 67/77 | €111,149 | €108,838 | -€2,311 | -2.1% |
| Profit (loss) for the period | 9904 | €243,050 | €238,392 | -€4,658 | -1.9% |
| Profit (loss) for the period to be appropriated | 9905 | €243,050 | €238,392 | -€4,658 | -1.9% |
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 26 October 2026 via checked.be.