IACOV: 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.
IACOV
Largest movements
- Tangible fixed assets +€88,937
up €88,937 (+1,881%), from €4,727 to €93,665
- Cash +€27,476
up €27,476 (+289%), from €9,506 to €36,981
mainly Debts after one year (+€89,158) and Receivables within one year (+€11,668)
- Receivables within one year -€11,668
down €11,668 (-19.3%), from €60,343 to €48,676
of which Trade receivables: -€33,511
- Debts after one year +€89,158
new in 2025: €89,158
- Tax, wage and social debts +€5,557
up €5,557 (+82.3%), from €6,751 to €12,308
- Current portion of long-term debt +€3,973
new in 2025: €3,973
- Trade debts +€3,960
up €3,960 (+20.2%), from €19,587 to €23,548
- Profit (loss) carried forward +€2,098
up €2,098 (+4.9%), from €43,237 to €45,336
- Other operating charges -€23,785
down €23,785 (-87.2%), from €27,279 to €3,493
- Gross operating margin -€21,434
down €21,434 (-47.1%), from €45,524 to €24,090
- Depreciation +€2,815
up €2,815 (+103%), from €2,728 to €5,543
- Taxes +€2,625
up €2,625 (+38.7%), from €6,788 to €9,413
- Financial charges -€647
down €647 (-12.4%), from €5,231 to €4,583
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 | €74,576 | €179,322 | +€104,746 | +140% |
| Fixed assets | 21/28 | €4,727 | €93,665 | +€88,937 | +1,881% |
| Tangible fixed assets | 22/27 | €4,727 | €93,665 | +€88,937 | +1,881% |
| Furniture and vehicles | 24 | €4,727 | €93,665 | +€88,937 | +1,881% |
| Current assets | 29/58 | €69,849 | €85,657 | +€15,808 | +22.6% |
| Amounts receivable within one year | 40/41 | €60,343 | €48,676 | -€11,668 | -19.3% |
| Trade receivables | 40 | €34,452 | €940 | -€33,511 | -97.3% |
| Other amounts receivable | 41 | €25,892 | €47,735 | +€21,844 | +84.4% |
| Cash at bank and in hand | 54/58 | €9,506 | €36,981 | +€27,476 | +289% |
| Total equity and liabilities | 10/49 | €74,576 | €179,322 | +€104,746 | +140% |
| Equity | 10/15 | €48,237 | €50,336 | +€2,098 | +4.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €43,237 | €45,336 | +€2,098 | +4.9% |
| Amounts payable | 17/49 | €26,339 | €128,986 | +€102,647 | +390% |
| Amounts payable after more than one year | 17 | - | €89,158 | +€89,158 | |
| Financial debts | 170/4 | - | €89,158 | +€89,158 | |
| Amounts payable within one year | 42/48 | €26,339 | €39,828 | +€13,490 | +51.2% |
| Current portion of amounts payable after more than one year | 42 | - | €3,973 | +€3,973 | |
| Trade debts | 44 | €19,587 | €23,548 | +€3,960 | +20.2% |
| Suppliers | 440/4 | €19,587 | €23,548 | +€3,960 | +20.2% |
| Taxes, remuneration and social security | 45 | €6,751 | €12,308 | +€5,557 | +82.3% |
| Taxes | 450/3 | €6,751 | €12,308 | +€5,557 | +82.3% |
| Remuneration, social security and pensions | 62 | - | €62 | +€62 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,728 | €5,543 | +€2,815 | +103% |
| Other operating charges | 640/8 | €27,279 | €3,493 | -€23,785 | -87.2% |
| Gross operating margin | 9900 | €45,524 | €24,090 | -€21,434 | -47.1% |
| Operating profit (loss) | 9901 | €15,518 | €14,993 | -€525 | -3.4% |
| Financial income | 75/76B | €820 | €1,101 | +€281 | +34.3% |
| Recurring financial income | 75 | €820 | €1,101 | +€281 | +34.3% |
| Financial charges | 65/66B | €5,231 | €4,583 | -€647 | -12.4% |
| Recurring financial charges | 65 | €5,231 | €4,583 | -€647 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €11,107 | €11,511 | +€404 | +3.6% |
| Income taxes | 67/77 | €6,788 | €9,413 | +€2,625 | +38.7% |
| Profit (loss) for the period | 9904 | €4,319 | €2,098 | -€2,221 | -51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,319 | €2,098 | -€2,221 | -51.4% |
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 21 October 2026 via checked.be.