IV MANAGEMENT: 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.
IV MANAGEMENT
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year +€26,544
up €26,544 (+4.8%), from €550,808 to €577,352
- Short-term financial debts -€25,000
no longer reported in 2025 (was €25,000)
- Other operating charges +€318
up €318 (+67.8%), from €470 to €788
- Gross operating margin -€285
down €285 (-29.0%), from -€985 to -€1,271
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €558,358 | €561,144 | +€2,786 | +0.5% |
| Fixed assets | 21/28 | €410,699 | €410,699 | = | 0.0% |
| Financial fixed assets | 28 | €410,699 | €410,699 | = | 0.0% |
| Current assets | 29/58 | €147,659 | €150,445 | +€2,786 | +1.9% |
| Amounts receivable within one year | 40/41 | €139,301 | €139,301 | = | 0.0% |
| Other amounts receivable | 41 | €139,301 | €139,301 | = | 0.0% |
| Deferred charges and accrued income | 490/1 | €8,358 | €11,144 | +€2,786 | +33.3% |
| Total equity and liabilities | 10/49 | €558,358 | €561,144 | +€2,786 | +0.5% |
| Equity | 10/15 | -€17,450 | -€16,722 | +€728 | +4.2% |
| Contributions | 10/11 | €7,800,000 | €7,800,000 | = | 0.0% |
| Capital | 10 | €7,800,000 | - | -€7.8m | |
| Issued capital | 100 | €7,800,000 | - | -€7.8m | |
| Reserves | 13 | €3,416 | €3,416 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,416 | €3,416 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,416 | €3,416 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,820,866 | -€7,820,139 | +€728 | 0.0% |
| Amounts payable | 17/49 | €575,808 | €577,866 | +€2,058 | +0.4% |
| Amounts payable after more than one year | 17 | €550,808 | €577,352 | +€26,544 | +4.8% |
| Other amounts payable | 178/9 | €550,808 | €577,352 | +€26,544 | +4.8% |
| Amounts payable within one year | 42/48 | €25,000 | - | -€25,000 | |
| Financial debts | 43 | €25,000 | - | -€25,000 | |
| Other loans | 439 | €25,000 | - | -€25,000 | |
| Accrued charges and deferred income | 492/3 | - | €514 | +€514 | |
| Other operating charges | 640/8 | €470 | €788 | +€318 | +67.8% |
| Gross operating margin | 9900 | -€985 | -€1,271 | -€285 | -29.0% |
| Operating profit (loss) | 9901 | -€1,455 | -€2,058 | -€604 | -41.5% |
| Financial income | 75/76B | €2,786 | €2,786 | = | 0.0% |
| Recurring financial income | 75 | €2,786 | €2,786 | = | 0.0% |
| Non-recurring financial income | 76B | €2,786 | - | -€2,786 | |
| Profit (loss) for the period before taxes | 9903 | €1,331 | €728 | -€604 | -45.3% |
| Profit (loss) for the period | 9904 | €1,331 | €728 | -€604 | -45.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,331 | €728 | -€604 | -45.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.