ILVERTO: 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.
ILVERTO
Largest movements
- Receivables within one year +€38,103
up €38,103 (+139.6%), from €27,297 to €65,399
of which Trade receivables: +€38,335
- Cash +€25,349
up €25,349 (+320.1%), from €7,918 to €33,267
mainly Net result for the year (+€45,710) and Tax, wage and social debts (+€17,123)
- Deferred charges and accrued income -€2,284
down €2,284 (-32.8%), from €6,955 to €4,671
- Reserves +€37,686
up €37,686 (+159.4%), from €23,641 to €61,326
- Tax, wage and social debts +€17,123
up €17,123 (+268.9%), from €6,369 to €23,491
- Trade debts +€9,406
up €9,406 (+670.9%), from €1,402 to €10,808
- Accrued charges and deferred income +€4,294
up €4,294 (+81.6%), from €5,264 to €9,558
- Debts after one year -€4,112
down €4,112 (-19.2%), from €21,394 to €17,281
- Gross operating margin +€56,815
up €56,815 (+355.4%), from €15,985 to €72,800
- Taxes +€10,321
up €10,321 (+220.3%), from €4,686 to €15,007
- Depreciation +€2,504
up €2,504 (+62.0%), from €4,037 to €6,542
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.
Cash bridge derived
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 | €71,670 | €133,581 | +€61,911 | +86.4% |
| Fixed assets | 21/28 | €29,500 | €30,243 | +€743 | +2.5% |
| Tangible fixed assets | 22/27 | €14,460 | €15,243 | +€783 | +5.4% |
| Plant, machinery and equipment | 23 | €1,068 | €367 | -€701 | -65.6% |
| Furniture and vehicles | 24 | €8,633 | €10,897 | +€2,264 | +26.2% |
| Other tangible fixed assets | 26 | €4,759 | €3,979 | -€780 | -16.4% |
| Financial fixed assets | 28 | €15,040 | €15,000 | -€40 | -0.3% |
| Current assets | 29/58 | €42,170 | €103,338 | +€61,167 | +145.0% |
| Amounts receivable within one year | 40/41 | €27,297 | €65,399 | +€38,103 | +139.6% |
| Trade receivables | 40 | €26,982 | €65,317 | +€38,335 | +142.1% |
| Other amounts receivable | 41 | €314 | €82 | -€232 | -73.9% |
| Cash at bank and in hand | 54/58 | €7,918 | €33,267 | +€25,349 | +320.1% |
| Deferred charges and accrued income | 490/1 | €6,955 | €4,671 | -€2,284 | -32.8% |
| Total equity and liabilities | 10/49 | €71,670 | €133,581 | +€61,911 | +86.4% |
| Equity | 10/15 | €28,641 | €66,326 | +€37,686 | +131.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €23,641 | €61,326 | +€37,686 | +159.4% |
| Distributable reserves | 133 | €23,641 | €61,326 | +€37,686 | +159.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €43,029 | €67,254 | +€24,225 | +56.3% |
| Amounts payable after more than one year | 17 | €21,394 | €17,281 | -€4,112 | -19.2% |
| Financial debts | 170/4 | €21,394 | €17,281 | -€4,112 | -19.2% |
| Amounts payable within one year | 42/48 | €16,372 | €40,414 | +€24,043 | +146.9% |
| Current portion of amounts payable after more than one year | 42 | €3,914 | €3,476 | -€438 | -11.2% |
| Trade debts | 44 | €1,402 | €10,808 | +€9,406 | +670.9% |
| Suppliers | 440/4 | €1,402 | €10,808 | +€9,406 | +670.9% |
| Taxes, remuneration and social security | 45 | €6,369 | €23,491 | +€17,123 | +268.9% |
| Taxes | 450/3 | €6,369 | €23,491 | +€17,123 | +268.9% |
| Other amounts payable | 47/48 | €4,687 | €2,639 | -€2,048 | -43.7% |
| Accrued charges and deferred income | 492/3 | €5,264 | €9,558 | +€4,294 | +81.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,037 | €6,542 | +€2,504 | +62.0% |
| Other operating charges | 640/8 | €4,304 | €4,777 | +€473 | +11.0% |
| Gross operating margin | 9900 | €15,985 | €72,800 | +€56,815 | +355.4% |
| Operating profit (loss) | 9901 | €7,645 | €61,482 | +€53,837 | +704.3% |
| Financial income | 75/76B | €75 | €61 | -€14 | -18.4% |
| Recurring financial income | 75 | €75 | €61 | -€14 | -18.4% |
| Financial charges | 65/66B | €971 | €825 | -€146 | -15.0% |
| Recurring financial charges | 65 | €971 | €825 | -€146 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €6,749 | €60,717 | +€53,969 | +799.7% |
| Income taxes | 67/77 | €4,686 | €15,007 | +€10,321 | +220.3% |
| Profit (loss) for the period | 9904 | €2,063 | €45,710 | +€43,647 | +2115.8% |
| Profit (loss) for the period to be appropriated | 9905 | €2,063 | €45,710 | +€43,647 | +2115.8% |
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 12 October 2026 via checked.be.