Ivado: 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.
Ivado
Largest movements
- Current investments +€30,758
up €30,758 (+102.5%), from €30,000 to €60,758
- Cash +€11,790
up €11,790 (+22.0%), from €53,637 to €65,426
mainly Net result for the year (+€40,348) and Trade debts (+€1,612)
- Reserves +€40,348
up €40,348 (+57.7%), from €69,871 to €110,219
- Trade debts +€1,612
up €1,612 (+80.6%), from €2,001 to €3,613
- Gross operating margin +€1,123
up €1,123 (+2.2%), from €51,539 to €52,662
- Financial income +€975
new in 2025: €975
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 | €104,946 | €147,582 | +€42,636 | +40.6% |
| Fixed assets | 21/28 | €3,426 | €3,168 | -€258 | -7.5% |
| Tangible fixed assets | 22/27 | €3,426 | €3,168 | -€258 | -7.5% |
| Plant, machinery and equipment | 23 | €1,188 | €907 | -€280 | -23.6% |
| Furniture and vehicles | 24 | €2,239 | €2,261 | +€22 | +1.0% |
| Current assets | 29/58 | €101,520 | €144,413 | +€42,894 | +42.3% |
| Amounts receivable within one year | 40/41 | €11,253 | €11,435 | +€182 | +1.6% |
| Trade receivables | 40 | €11,253 | €11,435 | +€182 | +1.6% |
| Current investments | 50/53 | €30,000 | €60,758 | +€30,758 | +102.5% |
| Cash at bank and in hand | 54/58 | €53,637 | €65,426 | +€11,790 | +22.0% |
| Deferred charges and accrued income | 490/1 | €6,630 | €6,794 | +€164 | +2.5% |
| Total equity and liabilities | 10/49 | €104,946 | €147,582 | +€42,636 | +40.6% |
| Equity | 10/15 | €74,871 | €115,219 | +€40,348 | +53.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €69,871 | €110,219 | +€40,348 | +57.7% |
| Distributable reserves | 133 | €69,871 | €110,219 | +€40,348 | +57.7% |
| Amounts payable | 17/49 | €30,075 | €32,362 | +€2,288 | +7.6% |
| Amounts payable within one year | 42/48 | €29,575 | €32,362 | +€2,788 | +9.4% |
| Trade debts | 44 | €2,001 | €3,613 | +€1,612 | +80.6% |
| Suppliers | 440/4 | €2,001 | €3,613 | +€1,612 | +80.6% |
| Taxes, remuneration and social security | 45 | €27,463 | €28,639 | +€1,176 | +4.3% |
| Taxes | 450/3 | €25,413 | €28,639 | +€3,226 | +12.7% |
| Remuneration and social security | 454/9 | €2,050 | - | -€2,050 | |
| Other amounts payable | 47/48 | €111 | €111 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €500 | - | -€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €329 | €806 | +€477 | +145.3% |
| Other operating charges | 640/8 | €62 | €62 | = | 0.0% |
| Gross operating margin | 9900 | €51,539 | €52,662 | +€1,123 | +2.2% |
| Operating profit (loss) | 9901 | €51,149 | €51,795 | +€646 | +1.3% |
| Financial income | 75/76B | - | €975 | +€975 | |
| Recurring financial income | 75 | - | €975 | +€975 | |
| Financial charges | 65/66B | €1,744 | €1,240 | -€504 | -28.9% |
| Recurring financial charges | 65 | €1,744 | €1,240 | -€504 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | €49,405 | €51,529 | +€2,124 | +4.3% |
| Income taxes | 67/77 | €10,818 | €11,181 | +€363 | +3.4% |
| Profit (loss) for the period | 9904 | €38,587 | €40,348 | +€1,761 | +4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €38,587 | €40,348 | +€1,761 | +4.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.