IBERVEST: what changed
Two fiscal 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
IBERVEST
NACE 70.200, Business and other management consultancy
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€5.1m
2025 · €4.2m+€873,080
Equity
€104.8m
2025 · €102.0m+€2.8m
Cash
€298,426
2025 · €239,955+€58,471
Balance sheet total
€122.0m
2025 · €111.5m+€10.4m
Largest movements
Assets
- Current investments +€9.9m
up €9.9m (+53.3%), from €18.5m to €28.3m
- Receivables after one year -€2.9m
down €2.9m (-100.0%), from €2.9m to €0
- Receivables within one year +€2.4m
up €2.4m (+161.1%), from €1.5m to €3.9m
of which Other amounts receivable: +€3.0m
Equity and liabilities
- Debts after one year +€7.2m
up €7.2m (+102.4%), from €7.0m to €14.2m
- Profit (loss) carried forward +€2.3m
up €2.3m (+2.7%), from €83.8m to €86.1m
Income statement
- Financial income +€2.5m
up €2.5m (+61.4%), from €4.1m to €6.6m
of which Financial income: +€2.0m
- Taxes +€960,187
up €960,187 (+278.9%), from €344,335 to €1.3m
- Staff costs +€511,794
up €511,794 (+125.1%), from €409,140 to €920,934
- Financial charges +€126,923
up €126,923 (+25.1%), from €505,662 to €632,585
of which Financial charges: +€116,313
- Gross operating margin -€19,574
down €19,574 (-1.3%), from €1.5m to €1.4m
From the 2025 result to the 2026 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 2025
€4.2m
Gross operating margin
-€19,574
Staff costs
-€511,794
Other operating charges
-€4,752
Financial income
+€2.5m
Financial charges
-€126,923
Taxes
-€960,187
Result 2026
€5.1m
Cash bridge derived
Derived from the 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€6.0m
Investment
-€10.9m
Financing
+€5.0m
Cash 2025
€239,955
From operations (derived)
+€6.0m
Net result for the year
+€5.1m
Depreciation
+€64,259
Receivables after one year
+€2.9m
Receivables within one year
-€2.4m
Deferred charges and accrued income
-€52,274
Provisions
-€9,456
Trade debts
+€112,585
Tax, wage and social debts
+€302,543
Other debts
+€83,542
Accrued charges and deferred income
-€116,833
Investment (derived)
-€10.9m
Investment in fixed assets (net)
-€1.0m
Current investments
-€9.9m
Financing
+€5.0m
Debts after one year
+€7.2m
Contributions, distributions and other
-€2.2m
Cash 2026
€298,426
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €111,547,929 | €121,957,782 | +€10.4m | +9.3% |
| Fixed assets | 21/28 | €88,348,070 | €89,320,548 | +€972,479 | +1.1% |
| Tangible fixed assets | 22/27 | €4,637,728 | €4,573,469 | -€64,259 | -1.4% |
| Land and buildings | 22 | €4,631,929 | €4,568,360 | -€63,570 | -1.4% |
| Plant, machinery and equipment | 23 | €2,204 | €1,515 | -€689 | -31.3% |
| Furniture and vehicles | 24 | €3,594 | €3,594 | = | 0.0% |
| Financial fixed assets | 28 | €83,710,342 | €84,747,079 | +€1.0m | +1.2% |
| Current assets | 29/58 | €23,199,859 | €32,637,234 | +€9.4m | +40.7% |
| Amounts receivable after more than one year | 29 | €2,934,436 | €0 | -€2.9m | -100.0% |
| Other amounts receivable | 291 | €2,934,436 | €0 | -€2.9m | -100.0% |
| Amounts receivable within one year | 40/41 | €1,494,013 | €3,901,314 | +€2.4m | +161.1% |
| Trade receivables | 40 | €804,513 | €260,150 | -€544,363 | -67.7% |
| Other amounts receivable | 41 | €689,500 | €3,641,164 | +€3.0m | +428.1% |
| Current investments | 50/53 | €18,481,300 | €28,335,066 | +€9.9m | +53.3% |
| Cash at bank and in hand | 54/58 | €239,955 | €298,426 | +€58,471 | +24.4% |
| Deferred charges and accrued income | 490/1 | €50,155 | €102,429 | +€52,274 | +104.2% |
| Total equity and liabilities | 10/49 | €111,547,929 | €121,957,782 | +€10.4m | +9.3% |
| Equity | 10/15 | €101,977,405 | €104,818,888 | +€2.8m | +2.8% |
| Contributions | 10/11 | €17,720,845 | €17,720,845 | = | 0.0% |
| Capital | 10 | €4,019,586 | €4,019,586 | = | 0.0% |
| Issued capital | 100 | €4,019,586 | €4,019,586 | = | 0.0% |
| Outside capital | 11 | €13,701,259 | €13,701,259 | = | 0.0% |
| Share premium | 1100/10 | €13,701,259 | €13,701,259 | = | 0.0% |
| Reserves | 13 | €412,463 | €968,698 | +€556,236 | +134.9% |
| Non-distributable reserves | 130/1 | €401,959 | €401,959 | = | 0.0% |
| Legal reserve | 130 | €401,959 | €401,959 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,504 | €566,740 | +€556,236 | +5295.5% |
| Profit (loss) carried forward | 14 | €83,844,097 | €86,129,344 | +€2.3m | +2.7% |
| Provisions and deferred taxes | 16 | €16,548 | €7,092 | -€9,456 | -57.1% |
| Deferred taxes | 168 | €16,548 | €7,092 | -€9,456 | -57.1% |
| Amounts payable | 17/49 | €9,553,976 | €17,131,803 | +€7.6m | +79.3% |
| Amounts payable after more than one year | 17 | €7,030,171 | €14,226,161 | +€7.2m | +102.4% |
| Other amounts payable | 178/9 | €7,030,171 | €14,226,161 | +€7.2m | +102.4% |
| Amounts payable within one year | 42/48 | €2,311,374 | €2,810,044 | +€498,670 | +21.6% |
| Trade debts | 44 | €2,591 | €115,176 | +€112,585 | +4344.8% |
| Suppliers | 440/4 | €2,591 | €115,176 | +€112,585 | +4344.8% |
| Taxes, remuneration and social security | 45 | €158,782 | €461,325 | +€302,543 | +190.5% |
| Taxes | 450/3 | €121,927 | €424,045 | +€302,117 | +247.8% |
| Remuneration and social security | 454/9 | €36,855 | €37,280 | +€425 | +1.2% |
| Other amounts payable | 47/48 | €2,150,000 | €2,233,542 | +€83,542 | +3.9% |
| Accrued charges and deferred income | 492/3 | €212,431 | €95,598 | -€116,833 | -55.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €409,140 | €920,934 | +€511,794 | +125.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,259 | €64,259 | = | 0.0% |
| Other operating charges | 640/8 | €27,612 | €32,364 | +€4,752 | +17.2% |
| Gross operating margin | 9900 | €1,465,897 | €1,446,323 | -€19,574 | -1.3% |
| Operating profit (loss) | 9901 | €964,885 | €428,765 | -€536,120 | -55.6% |
| Financial income | 75/76B | €4,064,058 | €6,560,369 | +€2.5m | +61.4% |
| Recurring financial income | 75 | €3,991,611 | €5,975,765 | +€2.0m | +49.7% |
| Non-recurring financial income | 76B | €72,447 | €584,604 | +€512,157 | +706.9% |
| Financial charges | 65/66B | €505,662 | €632,585 | +€126,923 | +25.1% |
| Recurring financial charges | 65 | €505,662 | €621,975 | +€116,313 | +23.0% |
| Non-recurring financial charges | 66B | €0 | €10,610 | +€10,610 | |
| Profit (loss) for the period before taxes | 9903 | €4,523,281 | €6,356,549 | +€1.8m | +40.5% |
| Transfer from deferred taxes | 780 | €9,456 | €9,456 | = | 0.0% |
| Income taxes | 67/77 | €344,335 | €1,304,522 | +€960,187 | +278.9% |
| Profit (loss) for the period | 9904 | €4,188,402 | €5,061,483 | +€873,080 | +20.8% |
| Transfer from tax-exempt reserves | 789 | €28,368 | €28,368 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €584,604 | +€584,604 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,216,770 | €4,505,247 | +€288,477 | +6.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.