IVANHOE: 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.
IVANHOE
Largest movements
- Deferred charges and accrued income +€11,085
up €11,085 (+1841.7%), from €602 to €11,686
- Tangible fixed assets -€1,115
down €1,115 (-76.3%), from €1,461 to €346
- Receivables within one year +€961
up €961 (+8.0%), from €12,045 to €13,006
of which Trade receivables: +€768
- Contributions +€10,000
up €10,000 (+153.8%), from €6,500 to €16,500
- Trade debts +€4,201
up €4,201 (+118.5%), from €3,546 to €7,747
- Other debts -€3,685
down €3,685 (-20.3%), from €18,116 to €14,432
- Tax, wage and social debts -€639
down €639 (-12.8%), from €5,013 to €4,373
of which Remuneration and social security: -€1,560
- Short-term financial debts +€554
up €554 (+4.5%), from €12,207 to €12,761
- Gross operating margin +€34,013
up €34,013, from -€24,916 to €9,097
- Other operating charges +€5,324
up €5,324 (+475.8%), from €1,119 to €6,443
- Depreciation -€388
down €388 (-25.8%), from €1,503 to €1,115
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
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 | €14,109 | €25,039 | +€10,930 | +77.5% |
| Fixed assets | 21/28 | €1,461 | €346 | -€1,115 | -76.3% |
| Tangible fixed assets | 22/27 | €1,461 | €346 | -€1,115 | -76.3% |
| Plant, machinery and equipment | 23 | €1,461 | €346 | -€1,115 | -76.3% |
| Current assets | 29/58 | €12,647 | €24,693 | +€12,046 | +95.2% |
| Amounts receivable within one year | 40/41 | €12,045 | €13,006 | +€961 | +8.0% |
| Trade receivables | 40 | €12,041 | €12,808 | +€768 | +6.4% |
| Other amounts receivable | 41 | €5 | €198 | +€193 | +4001.4% |
| Deferred charges and accrued income | 490/1 | €602 | €11,686 | +€11,085 | +1841.7% |
| Total equity and liabilities | 10/49 | €14,109 | €25,039 | +€10,930 | +77.5% |
| Equity | 10/15 | -€24,773 | -€14,274 | +€10,499 | +42.4% |
| Contributions | 10/11 | €6,500 | €16,500 | +€10,000 | +153.8% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,000 | €3,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€34,273 | -€33,774 | +€499 | +1.5% |
| Amounts payable | 17/49 | €38,882 | €39,313 | +€431 | +1.1% |
| Amounts payable within one year | 42/48 | €38,882 | €39,313 | +€431 | +1.1% |
| Financial debts | 43 | €12,207 | €12,761 | +€554 | +4.5% |
| Credit institutions | 430/8 | €12,207 | €12,761 | +€554 | +4.5% |
| Trade debts | 44 | €3,546 | €7,747 | +€4,201 | +118.5% |
| Suppliers | 440/4 | €3,546 | €7,747 | +€4,201 | +118.5% |
| Taxes, remuneration and social security | 45 | €5,013 | €4,373 | -€639 | -12.8% |
| Taxes | 450/3 | €2,013 | €2,933 | +€921 | +45.7% |
| Remuneration and social security | 454/9 | €3,000 | €1,440 | -€1,560 | -52.0% |
| Other amounts payable | 47/48 | €18,116 | €14,432 | -€3,685 | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,503 | €1,115 | -€388 | -25.8% |
| Other operating charges | 640/8 | €1,119 | €6,443 | +€5,324 | +475.8% |
| Gross operating margin | 9900 | -€24,916 | €9,097 | +€34,013 | |
| Operating profit (loss) | 9901 | -€27,538 | €1,539 | +€29,077 | |
| Financial income | 75/76B | - | €148 | +€148 | |
| Recurring financial income | 75 | - | €148 | +€148 | |
| Financial charges | 65/66B | €1,027 | €1,188 | +€161 | +15.6% |
| Recurring financial charges | 65 | €1,027 | €1,188 | +€161 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | -€28,566 | €499 | +€29,065 | |
| Income taxes | 67/77 | €240 | - | -€240 | |
| Profit (loss) for the period | 9904 | -€28,806 | €499 | +€29,305 | |
| Profit (loss) for the period to be appropriated | 9905 | -€28,806 | €499 | +€29,305 |
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 5 October 2026 via checked.be.