I-Vet: what changed
I-Vet
Largest movements
- Cash +€262,784
up €262,784 (+246%), from €106,798 to €369,582
mainly Current investments (+€178,535) and Net result for the year (+€58,761)
- Current investments -€178,535
down €178,535 (-89.3%), from €200,000 to €21,465
- Receivables within one year -€36,442
down €36,442 (-61.4%), from €59,363 to €22,922
of which Trade receivables: -€27,544
- Tangible fixed assets -€6,431
down €6,431 (-14.1%), from €45,514 to €39,082
of which Furniture and vehicles: -€6,982
- Reserves +€58,761
up €58,761 (+22.3%), from €263,350 to €322,111
of which Distributable reserves: +€58,761
- Trade debts -€20,407
down €20,407 (-61.0%), from €33,440 to €13,033
- Other debts +€11,337
up €11,337 (+16.3%), from €69,536 to €80,873
- Debts after one year -€7,960
down €7,960 (-47.2%), from €16,856 to €8,896
- Gross operating margin -€9,434
down €9,434 (-6.8%), from €138,322 to €128,888
- Depreciation +€5,951
up €5,951 (+61.0%), from €9,760 to €15,711
- Financial income +€5,203
up €5,203 (+4,995%), from €104 to €5,307
- Staff costs -€3,015
down €3,015 (-11.1%), from €27,164 to €24,149
- Taxes -€2,906
down €2,906 (-9.0%), from €32,239 to €29,333
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €414,296 | €454,056 | +€39,760 | +9.6% |
| Fixed assets | 21/28 | €46,514 | €40,082 | -€6,431 | -13.8% |
| Intangible fixed assets | 21 | €1,000 | €1,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €45,514 | €39,082 | -€6,431 | -14.1% |
| Plant, machinery and equipment | 23 | €12,130 | €12,681 | +€551 | +4.5% |
| Furniture and vehicles | 24 | €33,383 | €26,401 | -€6,982 | -20.9% |
| Current assets | 29/58 | €367,783 | €413,973 | +€46,191 | +12.6% |
| Amounts receivable within one year | 40/41 | €59,363 | €22,922 | -€36,442 | -61.4% |
| Trade receivables | 40 | €41,658 | €14,113 | -€27,544 | -66.1% |
| Other amounts receivable | 41 | €17,706 | €8,808 | -€8,898 | -50.3% |
| Current investments | 50/53 | €200,000 | €21,465 | -€178,535 | -89.3% |
| Cash at bank and in hand | 54/58 | €106,798 | €369,582 | +€262,784 | +246% |
| Deferred charges and accrued income | 490/1 | €1,621 | €5 | -€1,617 | -99.7% |
| Total equity and liabilities | 10/49 | €414,296 | €454,056 | +€39,760 | +9.6% |
| Equity | 10/15 | €275,750 | €334,511 | +€58,761 | +21.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €263,350 | €322,111 | +€58,761 | +22.3% |
| 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 | €261,490 | €320,251 | +€58,761 | +22.5% |
| Amounts payable | 17/49 | €138,546 | €119,545 | -€19,001 | -13.7% |
| Amounts payable after more than one year | 17 | €16,856 | €8,896 | -€7,960 | -47.2% |
| Financial debts | 170/4 | €16,856 | €8,896 | -€7,960 | -47.2% |
| Amounts payable within one year | 42/48 | €121,690 | €110,649 | -€11,041 | -9.1% |
| Current portion of amounts payable after more than one year | 42 | €10,857 | €7,960 | -€2,897 | -26.7% |
| Trade debts | 44 | €33,440 | €13,033 | -€20,407 | -61.0% |
| Suppliers | 440/4 | €33,440 | €13,033 | -€20,407 | -61.0% |
| Taxes, remuneration and social security | 45 | €7,857 | €8,783 | +€925 | +11.8% |
| Taxes | 450/3 | €1,382 | €2,134 | +€753 | +54.5% |
| Remuneration and social security | 454/9 | €6,476 | €6,649 | +€173 | +2.7% |
| Other amounts payable | 47/48 | €69,536 | €80,873 | +€11,337 | +16.3% |
| Remuneration, social security and pensions | 62 | €27,164 | €24,149 | -€3,015 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,760 | €15,711 | +€5,951 | +61.0% |
| Other operating charges | 640/8 | €761 | €461 | -€300 | -39.4% |
| Gross operating margin | 9900 | €138,322 | €128,888 | -€9,434 | -6.8% |
| Operating profit (loss) | 9901 | €100,636 | €88,566 | -€12,070 | -12.0% |
| Financial income | 75/76B | €104 | €5,307 | +€5,203 | +4,995% |
| Recurring financial income | 75 | €104 | €5,307 | +€5,203 | +4,995% |
| Financial charges | 65/66B | €4,936 | €5,780 | +€845 | +17.1% |
| Recurring financial charges | 65 | €4,936 | €5,780 | +€845 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €95,805 | €88,093 | -€7,711 | -8.0% |
| Income taxes | 67/77 | €32,239 | €29,333 | -€2,906 | -9.0% |
| Profit (loss) for the period | 9904 | €63,566 | €58,761 | -€4,805 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €63,566 | €58,761 | -€4,805 | -7.6% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.