IVANO: 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.
IVANO
Largest movements
- Tangible fixed assets -€15,641
down €15,641 (-30.6%), from €51,034 to €35,393
of which Furniture and vehicles: -€14,983
- Cash +€15,468
up €15,468 (+84.0%), from €18,423 to €33,891
mainly Receivables within one year (+€12,782) and Investment in fixed assets (net) (+€9,279)
- Receivables within one year -€12,782
down €12,782 (-17.6%), from €72,667 to €59,885
of which Trade receivables: -€11,010
- Current portion of long-term debt -€16,012
no longer reported in 2025 (was €16,012)
- Other debts +€8,072
up €8,072 (+43.1%), from €18,716 to €26,788
- Debts after one year -€7,943
down €7,943 (-88.8%), from €8,943 to €1,000
of which Financial debts: -€7,943
- Reserves +€2,845
up €2,845 (+4.9%), from €57,909 to €60,754
- Gross operating margin -€13,106
down €13,106 (-40.1%), from €32,704 to €19,598
- Depreciation -€4,939
down €4,939 (-43.7%), from €11,301 to €6,362
- Financial charges +€3,945
up €3,945 (+556%), from €709 to €4,654
of which Non-recurring financial charges: +€4,129
- Taxes -€3,794
down €3,794 (-51.4%), from €7,382 to €3,588
- Other operating charges +€1,416
up €1,416 (+104%), from €1,357 to €2,773
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 | €142,124 | €129,169 | -€12,955 | -9.1% |
| Fixed assets | 21/28 | €51,034 | €35,393 | -€15,641 | -30.6% |
| Tangible fixed assets | 22/27 | €51,034 | €35,393 | -€15,641 | -30.6% |
| Land and buildings | 22 | €21,851 | €21,477 | -€374 | -1.7% |
| Plant, machinery and equipment | 23 | €1,118 | €834 | -€284 | -25.4% |
| Furniture and vehicles | 24 | €28,065 | €13,082 | -€14,983 | -53.4% |
| Current assets | 29/58 | €91,090 | €93,776 | +€2,686 | +2.9% |
| Amounts receivable within one year | 40/41 | €72,667 | €59,885 | -€12,782 | -17.6% |
| Trade receivables | 40 | €55,851 | €44,841 | -€11,010 | -19.7% |
| Other amounts receivable | 41 | €16,816 | €15,044 | -€1,772 | -10.5% |
| Cash at bank and in hand | 54/58 | €18,423 | €33,891 | +€15,468 | +84.0% |
| Total equity and liabilities | 10/49 | €142,124 | €129,169 | -€12,955 | -9.1% |
| Equity | 10/15 | €60,909 | €63,754 | +€2,845 | +4.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €57,909 | €60,754 | +€2,845 | +4.9% |
| Distributable reserves | 133 | €57,909 | €60,754 | +€2,845 | +4.9% |
| Amounts payable | 17/49 | €81,215 | €65,415 | -€15,800 | -19.5% |
| Amounts payable after more than one year | 17 | €8,943 | €1,000 | -€7,943 | -88.8% |
| Financial debts | 170/4 | €7,943 | - | -€7,943 | |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €72,272 | €64,415 | -€7,857 | -10.9% |
| Current portion of amounts payable after more than one year | 42 | €16,012 | - | -€16,012 | |
| Trade debts | 44 | €785 | €1,143 | +€358 | +45.6% |
| Suppliers | 440/4 | €785 | €1,143 | +€358 | +45.6% |
| Taxes, remuneration and social security | 45 | €36,759 | €36,484 | -€275 | -0.7% |
| Taxes | 450/3 | €12,634 | €12,359 | -€275 | -2.2% |
| Remuneration and social security | 454/9 | €24,125 | €24,125 | = | 0.0% |
| Other amounts payable | 47/48 | €18,716 | €26,788 | +€8,072 | +43.1% |
| Remuneration, social security and pensions | 62 | - | €176 | +€176 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,301 | €6,362 | -€4,939 | -43.7% |
| Other operating charges | 640/8 | €1,357 | €2,773 | +€1,416 | +104% |
| Gross operating margin | 9900 | €32,704 | €19,598 | -€13,106 | -40.1% |
| Operating profit (loss) | 9901 | €20,046 | €10,287 | -€9,759 | -48.7% |
| Financial income | 75/76B | €29 | €800 | +€771 | +2,659% |
| Recurring financial income | 75 | €29 | €800 | +€771 | +2,659% |
| Non-recurring financial income | 76B | - | €800 | +€800 | |
| Financial charges | 65/66B | €709 | €4,654 | +€3,945 | +556% |
| Recurring financial charges | 65 | €709 | €525 | -€184 | -26.0% |
| Non-recurring financial charges | 66B | - | €4,129 | +€4,129 | |
| Profit (loss) for the period before taxes | 9903 | €19,366 | €6,433 | -€12,933 | -66.8% |
| Income taxes | 67/77 | €7,382 | €3,588 | -€3,794 | -51.4% |
| Profit (loss) for the period | 9904 | €11,984 | €2,845 | -€9,139 | -76.3% |
| Profit (loss) for the period to be appropriated | 9905 | €11,984 | €2,845 | -€9,139 | -76.3% |
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 15 October 2026 via checked.be.