IVAFIDU: 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.
IVAFIDU
Largest movements
- Receivables within one year +€68,296
up €68,296 (+93.8%), from €72,786 to €141,082
of which Other amounts receivable: +€68,296
- Cash +€17,393
up €17,393 (+76.8%), from €22,658 to €40,052
mainly Net result for the year (+€74,073) and Current portion of long-term debt (+€20,878)
- Receivables after one year +€4,473
up €4,473 (+3.0%), from €149,084 to €153,557
- Reserves +€74,073
up €74,073 (+34.7%), from €213,663 to €287,736
- Current portion of long-term debt +€20,878
new in 2025: €20,878
- Trade debts -€3,675
down €3,675 (-95.2%), from €3,861 to €186
- Gross operating margin +€33,506
up €33,506 (+29.2%), from €114,597 to €148,103
- Financial charges +€19,054
up €19,054 (+56.1%), from €33,979 to €53,033
- Taxes +€4,311
up €4,311 (+16.9%), from €25,550 to €29,861
- Financial income +€2,434
up €2,434 (+34.0%), from €7,151 to €9,585
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 | €245,288 | €336,250 | +€90,962 | +37.1% |
| Current assets | 29/58 | €245,288 | €336,250 | +€90,962 | +37.1% |
| Amounts receivable after more than one year | 29 | €149,084 | €153,557 | +€4,473 | +3.0% |
| Trade receivables | 290 | €149,084 | €153,557 | +€4,473 | +3.0% |
| Amounts receivable within one year | 40/41 | €72,786 | €141,082 | +€68,296 | +93.8% |
| Trade receivables | 40 | €12,705 | €12,705 | = | 0.0% |
| Other amounts receivable | 41 | €60,081 | €128,377 | +€68,296 | +114% |
| Cash at bank and in hand | 54/58 | €22,658 | €40,052 | +€17,393 | +76.8% |
| Deferred charges and accrued income | 490/1 | €759 | €1,559 | +€800 | +105% |
| Total equity and liabilities | 10/49 | €245,288 | €336,250 | +€90,962 | +37.1% |
| Equity | 10/15 | €213,663 | €287,736 | +€74,073 | +34.7% |
| Reserves | 13 | €213,663 | €287,736 | +€74,073 | +34.7% |
| Distributable reserves | 133 | €213,663 | €287,736 | +€74,073 | +34.7% |
| Amounts payable | 17/49 | €31,625 | €48,514 | +€16,889 | +53.4% |
| Amounts payable within one year | 42/48 | €31,625 | €48,514 | +€16,889 | +53.4% |
| Current portion of amounts payable after more than one year | 42 | - | €20,878 | +€20,878 | |
| Trade debts | 44 | €3,861 | €186 | -€3,675 | -95.2% |
| Suppliers | 440/4 | €3,861 | €186 | -€3,675 | -95.2% |
| Taxes, remuneration and social security | 45 | €27,764 | €27,450 | -€315 | -1.1% |
| Taxes | 450/3 | €27,764 | €27,450 | -€315 | -1.1% |
| Other operating charges | 640/8 | €750 | €722 | -€29 | -3.8% |
| Gross operating margin | 9900 | €114,597 | €148,103 | +€33,506 | +29.2% |
| Operating profit (loss) | 9901 | €113,847 | €147,381 | +€33,534 | +29.5% |
| Financial income | 75/76B | €7,151 | €9,585 | +€2,434 | +34.0% |
| Recurring financial income | 75 | €7,151 | €9,585 | +€2,434 | +34.0% |
| Financial charges | 65/66B | €33,979 | €53,033 | +€19,054 | +56.1% |
| Recurring financial charges | 65 | €33,979 | €53,033 | +€19,054 | +56.1% |
| Profit (loss) for the period before taxes | 9903 | €87,019 | €103,934 | +€16,915 | +19.4% |
| Income taxes | 67/77 | €25,550 | €29,861 | +€4,311 | +16.9% |
| Profit (loss) for the period | 9904 | €61,470 | €74,073 | +€12,604 | +20.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,470 | €74,073 | +€12,604 | +20.5% |
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 21 October 2026 via checked.be.