IBVD: 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.
IBVD
Largest movements
- Cash +€91,860
up €91,860 (+276%), from €33,338 to €125,199
mainly Net result for the year (+€82,633) and Depreciation (+€15,178)
- Tangible fixed assets -€15,178
down €15,178 (-20.6%), from €73,843 to €58,665
of which Furniture and vehicles: -€14,815
- Profit (loss) carried forward +€82,633
up €82,633 (+460%), from €17,947 to €100,580
- Debts after one year -€13,511
down €13,511 (-32.2%), from €41,937 to €28,427
- Tax, wage and social debts +€9,675
up €9,675 (+200%), from €4,829 to €14,503
- Other debts -€2,205
down €2,205 (-5.2%), from €42,549 to €40,344
- Gross operating margin +€33,798
up €33,798 (+38.1%), from €88,821 to €122,619
- Depreciation +€13,898
up €13,898 (+1,086%), from €1,280 to €15,178
- Taxes +€2,604
up €2,604 (+13.1%), from €19,861 to €22,464
- Financial charges +€1,638
up €1,638 (+881%), from €186 to €1,824
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 | €132,184 | €208,568 | +€76,384 | +57.8% |
| Fixed assets | 21/28 | €75,643 | €60,465 | -€15,178 | -20.1% |
| Tangible fixed assets | 22/27 | €73,843 | €58,665 | -€15,178 | -20.6% |
| Plant, machinery and equipment | 23 | €3,318 | €2,954 | -€363 | -11.0% |
| Furniture and vehicles | 24 | €70,525 | €55,711 | -€14,815 | -21.0% |
| Financial fixed assets | 28 | €1,800 | €1,800 | = | 0.0% |
| Current assets | 29/58 | €56,541 | €148,103 | +€91,562 | +162% |
| Amounts receivable within one year | 40/41 | €20,205 | €19,580 | -€625 | -3.1% |
| Trade receivables | 40 | €20,205 | €19,580 | -€625 | -3.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €33,338 | €125,199 | +€91,860 | +276% |
| Deferred charges and accrued income | 490/1 | €2,998 | €3,324 | +€326 | +10.9% |
| Total equity and liabilities | 10/49 | €132,184 | €208,568 | +€76,384 | +57.8% |
| Equity | 10/15 | €27,947 | €110,580 | +€82,633 | +296% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €17,947 | €100,580 | +€82,633 | +460% |
| Amounts payable | 17/49 | €104,237 | €97,988 | -€6,249 | -6.0% |
| Amounts payable after more than one year | 17 | €41,937 | €28,427 | -€13,511 | -32.2% |
| Financial debts | 170/4 | €41,937 | €28,427 | -€13,511 | -32.2% |
| Amounts payable within one year | 42/48 | €62,300 | €69,562 | +€7,262 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €13,063 | €13,511 | +€448 | +3.4% |
| Financial debts | 43 | €187 | €741 | +€554 | +297% |
| Credit institutions | 430/8 | €187 | €741 | +€554 | +297% |
| Trade debts | 44 | €1,673 | €463 | -€1,210 | -72.3% |
| Suppliers | 440/4 | €1,673 | €463 | -€1,210 | -72.3% |
| Taxes, remuneration and social security | 45 | €4,829 | €14,503 | +€9,675 | +200% |
| Taxes | 450/3 | €4,829 | €14,503 | +€9,675 | +200% |
| Other amounts payable | 47/48 | €42,549 | €40,344 | -€2,205 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,280 | €15,178 | +€13,898 | +1,086% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €88,821 | €122,619 | +€33,798 | +38.1% |
| Operating profit (loss) | 9901 | €87,035 | €106,921 | +€19,886 | +22.8% |
| Financial income | 75/76B | €795 | €0 | -€795 | -100.0% |
| Recurring financial income | 75 | €795 | €0 | -€795 | -100.0% |
| Financial charges | 65/66B | €186 | €1,824 | +€1,638 | +881% |
| Recurring financial charges | 65 | €186 | €1,824 | +€1,638 | +881% |
| Profit (loss) for the period before taxes | 9903 | €87,644 | €105,097 | +€17,453 | +19.9% |
| Income taxes | 67/77 | €19,861 | €22,464 | +€2,604 | +13.1% |
| Profit (loss) for the period | 9904 | €67,784 | €82,633 | +€14,849 | +21.9% |
| Profit (loss) for the period to be appropriated | 9905 | €67,784 | €82,633 | +€14,849 | +21.9% |
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 15 October 2026 via checked.be.