Ivanka: 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.
Ivanka
Largest movements
- Receivables within one year +€52,856
up €52,856 (+121%), from €43,615 to €96,471
of which Trade receivables: +€50,881
- Tangible fixed assets -€47,037
down €47,037 (-5.0%), from €942,052 to €895,015
of which Land and buildings: -€37,722
- Reserves +€46,288
up €46,288 (+9.1%), from €507,773 to €554,061
of which Distributable reserves: +€54,073
- Debts after one year -€26,994
down €26,994 (-7.6%), from €356,323 to €329,328
of which Financial debts: -€26,994
- Current portion of long-term debt -€15,000
down €15,000 (-35.7%), from €41,994 to €26,994
- Turnover -€198,687
no longer reported in 2025 (was €198,687)
- Purchases and services -€56,881
no longer reported in 2025 (was €56,881)
- Gross operating margin -€11,955
down €11,955 (-8.4%), from €141,805 to €129,850
- Financial charges -€3,601
down €3,601 (-20.0%), from €17,981 to €14,380
- Depreciation -€3,185
down €3,185 (-6.3%), from €50,222 to €47,037
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 | €1,004,469 | €1,012,807 | +€8,337 | +0.8% |
| Fixed assets | 21/28 | €942,052 | €895,015 | -€47,037 | -5.0% |
| Tangible fixed assets | 22/27 | €942,052 | €895,015 | -€47,037 | -5.0% |
| Land and buildings | 22 | €932,737 | €895,015 | -€37,722 | -4.0% |
| Plant, machinery and equipment | 23 | €9,315 | - | -€9,315 | |
| Current assets | 29/58 | €62,417 | €117,791 | +€55,374 | +88.7% |
| Amounts receivable within one year | 40/41 | €43,615 | €96,471 | +€52,856 | +121% |
| Trade receivables | 40 | €42,290 | €93,170 | +€50,881 | +120% |
| Other amounts receivable | 41 | €1,326 | €3,301 | +€1,976 | +149% |
| Cash at bank and in hand | 54/58 | €17,815 | €20,308 | +€2,493 | +14.0% |
| Deferred charges and accrued income | 490/1 | €987 | €1,012 | +€25 | +2.5% |
| Total equity and liabilities | 10/49 | €1,004,469 | €1,012,807 | +€8,337 | +0.8% |
| Equity | 10/15 | €557,773 | €604,061 | +€46,288 | +8.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €507,773 | €554,061 | +€46,288 | +9.1% |
| Tax-exempt reserves | 132 | €88,581 | €80,796 | -€7,785 | -8.8% |
| Distributable reserves | 133 | €419,192 | €473,265 | +€54,073 | +12.9% |
| Provisions and deferred taxes | 16 | €29,527 | €26,932 | -€2,595 | -8.8% |
| Deferred taxes | 168 | €29,527 | €26,932 | -€2,595 | -8.8% |
| Amounts payable | 17/49 | €417,170 | €381,814 | -€35,355 | -8.5% |
| Amounts payable after more than one year | 17 | €356,323 | €329,328 | -€26,994 | -7.6% |
| Financial debts | 170/4 | €47,985 | €20,990 | -€26,994 | -56.3% |
| Other amounts payable | 178/9 | €308,338 | €308,338 | = | 0.0% |
| Amounts payable within one year | 42/48 | €48,469 | €41,559 | -€6,910 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €41,994 | €26,994 | -€15,000 | -35.7% |
| Trade debts | 44 | €1,133 | €1,635 | +€502 | +44.3% |
| Suppliers | 440/4 | €1,133 | €1,635 | +€502 | +44.3% |
| Taxes, remuneration and social security | 45 | €5,342 | €12,929 | +€7,588 | +142% |
| Taxes | 450/3 | €3,042 | €9,729 | +€6,688 | +220% |
| Remuneration and social security | 454/9 | €2,300 | €3,200 | +€900 | +39.1% |
| Accrued charges and deferred income | 492/3 | €12,378 | €10,927 | -€1,451 | -11.7% |
| Turnover | 70 | €198,687 | - | -€198,687 | |
| Goods, raw materials, services and sundry goods | 60/61 | €56,881 | - | -€56,881 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,222 | €47,037 | -€3,185 | -6.3% |
| Other operating charges | 640/8 | €6,279 | €6,717 | +€438 | +7.0% |
| Gross operating margin | 9900 | €141,805 | €129,850 | -€11,955 | -8.4% |
| Operating profit (loss) | 9901 | €85,305 | €76,097 | -€9,208 | -10.8% |
| Financial charges | 65/66B | €17,981 | €14,380 | -€3,601 | -20.0% |
| Recurring financial charges | 65 | €17,981 | €14,380 | -€3,601 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €67,324 | €61,717 | -€5,607 | -8.3% |
| Transfer from deferred taxes | 780 | €2,843 | €2,595 | -€249 | -8.7% |
| Income taxes | 67/77 | €19,674 | €18,024 | -€1,650 | -8.4% |
| Profit (loss) for the period | 9904 | €50,493 | €46,288 | -€4,205 | -8.3% |
| Transfer from tax-exempt reserves | 789 | €8,530 | €7,785 | -€746 | -8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €59,023 | €54,073 | -€4,951 | -8.4% |
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 20 October 2026 via checked.be.