I.H.V.: 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.
I.H.V.
Largest movements
- Tangible fixed assets -€69,577
down €69,577 (-8.9%), from €783,197 to €713,621
of which Land and buildings: -€67,190
- Tax, wage and social debts -€55,126
down €55,126 (-15.4%), from €359,099 to €303,973
of which Remuneration and social security: -€64,133
- Gross operating margin +€29,379
up €29,379 (+40.9%), from €71,777 to €101,156
- Taxes +€10,146
up €10,146 (+1,642%), from €618 to €10,764
- Depreciation +€1,913
up €1,913 (+2.7%), from €72,075 to €73,988
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 | €790,505 | €727,529 | -€62,976 | -8.0% |
| Fixed assets | 21/28 | €784,647 | €715,071 | -€69,577 | -8.9% |
| Tangible fixed assets | 22/27 | €783,197 | €713,621 | -€69,577 | -8.9% |
| Land and buildings | 22 | €773,679 | €706,489 | -€67,190 | -8.7% |
| Furniture and vehicles | 24 | €9,519 | €7,132 | -€2,387 | -25.1% |
| Financial fixed assets | 28 | €1,450 | €1,450 | = | 0.0% |
| Current assets | 29/58 | €5,858 | €12,459 | +€6,601 | +113% |
| Cash at bank and in hand | 54/58 | €5,858 | €12,459 | +€6,601 | +113% |
| Total equity and liabilities | 10/49 | €790,505 | €727,529 | -€62,976 | -8.0% |
| Equity | 10/15 | €259,165 | €259,979 | +€814 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €240,565 | €241,379 | +€814 | +0.3% |
| Tax-exempt reserves | 132 | €235,646 | €212,439 | -€23,207 | -9.8% |
| Distributable reserves | 133 | €4,919 | €28,940 | +€24,021 | +488% |
| Provisions and deferred taxes | 16 | €57,080 | €49,344 | -€7,736 | -13.6% |
| Deferred taxes | 168 | €57,080 | €49,344 | -€7,736 | -13.6% |
| Amounts payable | 17/49 | €474,260 | €418,206 | -€56,054 | -11.8% |
| Amounts payable after more than one year | 17 | €108,000 | €108,000 | = | 0.0% |
| Other amounts payable | 178/9 | €108,000 | €108,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €360,801 | €304,497 | -€56,304 | -15.6% |
| Trade debts | 44 | €1,702 | €524 | -€1,179 | -69.2% |
| Suppliers | 440/4 | €1,702 | €524 | -€1,179 | -69.2% |
| Taxes, remuneration and social security | 45 | €359,099 | €303,973 | -€55,126 | -15.4% |
| Taxes | 450/3 | €2,649 | €11,656 | +€9,007 | +340% |
| Remuneration and social security | 454/9 | €356,450 | €292,317 | -€64,133 | -18.0% |
| Accrued charges and deferred income | 492/3 | €5,459 | €5,709 | +€250 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,075 | €73,988 | +€1,913 | +2.7% |
| Other operating charges | 640/8 | €17,229 | €17,360 | +€131 | +0.8% |
| Gross operating margin | 9900 | €71,777 | €101,156 | +€29,379 | +40.9% |
| Operating profit (loss) | 9901 | -€17,527 | €9,809 | +€27,336 | |
| Financial income | 75/76B | €340 | €21 | -€319 | -93.9% |
| Recurring financial income | 75 | €340 | €21 | -€319 | -93.9% |
| Financial charges | 65/66B | €6,774 | €5,987 | -€787 | -11.6% |
| Recurring financial charges | 65 | €6,774 | €5,987 | -€787 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | -€23,961 | €3,843 | +€27,804 | |
| Transfer from deferred taxes | 780 | €7,736 | €7,736 | = | 0.0% |
| Income taxes | 67/77 | €618 | €10,764 | +€10,146 | +1,642% |
| Profit (loss) for the period | 9904 | -€16,844 | €814 | +€17,658 | |
| Transfer from tax-exempt reserves | 789 | €23,207 | €23,207 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,363 | €24,021 | +€17,658 | +277% |
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 28 October 2026 via checked.be.